I'm looking to confirm my rule of thumb benchmark of 10%-12% over scrap value for rolls of pre 64 silver coins to be a fair price to sell or buy at retail. (current value about $3 for .25) That make a .25 roll +/- $120. ($105.98 current silver value) Just looked at closed auctions on eBay and it looks to me that buyers are paying more these days. I'd love to hear any quick formulas. For sake of scope consider transactions under $1,000
The premiums are up on 90% right now. In fact the premiums are up on just about everything at the moment.
I agree. It usually happens, premiums run high when silver goes down until new supply overruns demand and prices forced down. I was at a show Sunday and dealers wanting over $20 for current ASE's, and 15x face for junk roosevelts. I passed.
May I ask where the coin show was located, as business was good where I attended, and it was reported that only one dealer had bulk pre-1965 Silver to sell. I haven't had a problem "trading" $50 Face lots of VG-XF all mint-marked Mercury dimes at 14 x Face. "Dealers" have stated the "value" of my offering to be very competitive, as they can't seem to locate quality bulk 90% on the internet, with even the "fair-priced" junk "circulated" 90% being scarce.
On a wholesale level, from what I'm being told, the premiums are here to stay through the end of Sept. In some cases wholesalers are locking in orders now with a delivery date at the end of Sept and retailers are paying it. Just a little bottleneck for now, how long it lasts after that is anybody's guess.
I try to get any that's under 14x. I just bought $10 in dimes on ebay for 13.5x, and a roll of quarters for 12x. 14x-15x seems to be about the going rate for most offerings on ebay.
It was in MN. Plenty of product to sell, just a high premium IMHO. Probably why they had plenty of stock. Even stuff for my son like modern silver stuff like 2015 Perth mint stuff was as high as it was when silver was $18. I usually buy something like that for him, this time just bought some world coins for him.
Good feedback and thanks for all the comments. I've been selling lately and it sounds like we should try push it up a bit.
I'm not doubting anything said here and seriously trying to understand. But here's my question... "New silver", private rounds, bars and even government coins minted this year, dealers can wait till the silver gets pulled out of the ground, refined, minted and then delivered. But "junk" silver... There's no guarantee that they will ever get more "in stock" unless someone sells their stack to them right? I mean of course dealers can sell to dealers... But what I mean is "they ain't making anymore". Soooo... Am I missing something here? I read some posts where people said back in the day cull silver dollars could be had for melt... Not anymore... Does anybody think it will get back down to the normal levels? (What I mean by normal is I I used web.archive.com and checked comparesilverprices.com and 90% traded btween 3 and 10% of spot for the last 4 years... Now it's at 30%+ and has been there for over a month). Thoughts?
I had a friend buy a $1000 junk at face last week. (Bag) He told me he paid more then ever in relationship to spot for the bag. He's very knowledgeable so that got me wondering. Maybe we aren't seeing as much on the market due to the low silver price (5 yr). In any regard, it looks to me that for right now the premium seems to up on junk and the margins on rounds seem to be as low as ever.
are you missing a number in there.. should it read... "I had a friend buy a $1000 junk at [some multiple of] face last week. "
He wouldn't give me the exact number. Just that he paid the biggest premium he ever paid for it. Everybody likes to hold a little back.
This is the time you buy from other owners of silver and not dealers or other suppliers. You can do this only on small lots under $1000. They need the cash for other reasons than investment. Think add on premium when you buy. It's more palatable that way. Make sure all purchases have the solid silver stamp on them and state they are .99% pure.
