When buying junk silver coins how much over spot do you pay? Is there any denomination that is preferred over another? I am looking at making a purchase soon.
At coin stores I have paid around 10 cents or so over spot. At coin shows and the local flea markets/swap meets I pay spot. Dimes quarters, halves are generally what you get since most dealers charge a premium for junk silver dollars.
Silver dollars ALWAYS have had premiums. Sometimes halves have a small premium as well. Around spot is what you should pay from a good dealer. I suggest going to a good coin show since there is competition there.
Most places around me sell at multiples rounded to .25 , and at whatever .25 multiple makes it just under spot. For example if a dimes melt is $2.17, most will be at 20x($2.00). Whereas if it was $2.33, most would be at 22.5x ($2.25). A lot of the shows do smaller increments (ie 21 or 23x) but the few places I regularly go are almost always like this as far as the junk they are selling.
The coin store I frequent, they sell their junk at spot prices, no premium. They also keep the prices updated throughout the day. Now granted, they have different junk bins depending on the price. ASEes have a $3 premium.
Now i feel stupid, i just paid 3.00 over premium for silver quarters on ebay. Oh well ill call it a 33.00 learning fee. My best friend and I love coin roll searching/bill searching and do it daily. I am going to have the teller at the bank he goes to slip 2 rolls of silver quarters in his box next time he picks up quarters. If he finds a silver dime he is excited for a week and its brought up daily about his find. So this should be legendary
