Buying Junk Silver Coins

In my area you never get the full melt price but a percentage below melt to cover the dealers expenses. A LCS pays spot for gold minus 25% to cover his costs.

 

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$17.50 is an awesome deal. I'm not able to find one. The closest online price is above $25 and that is a premium. I'm not going to get suckered from that price. I can live without it.

 

Spot - 25% is ridiculous. Less 2.5% maybe but not 25% That would mean he's only paying $937 an oz. APMEX is pay around $1220 that's about 2.4% back.

 

At some Shows & Stores in Mi there are dealers that sell bulk silver Morgans, Peace etc. at fair prices around $ 18 ea. Recently, have not seen any lower than that.

 

@condor This LCS is a total ripoff. I showed them an ungraded Mercury dime that they said had all sorts of problems. It came back MS64 FSB.
I believe the -25% of spot gold referred to jewelry because they were accounting for the weight of any stones. Of course they had all of the stones that they stripped from the jewelry which I'm sure they planned on selling separately.

 

Pre 21 Morgans are always harder to come by but in our area all silver dollars carry a premium.

 

You may want to go to another store or attend a show in your area. This dealer must have some high rent to charge 25%