ANybody have a coinshop buying graph or formula where spot price of silver is compared to ammount times face value of 40 and 90% silver. For example when silver is at $13/oz dealers buy at X times face value? Looking to sell some 40% on sat and wondering if I could get 3.5X face. Thanks
this might help: http://www.coinflation.com/ Also, Many coinshows have those Numismatic News handouts for both gold and silver, prices vs spot......a cross referance of sorts.
Thanks AJ. Thats where I get my 3.5X face value. It shows the silver value @$1.9507 so I figured the dealer has to make something (45.07c in this case) Does that sound about right?
I don't think there is a simple formula to calculate what a dealer will pay for junk silver coins. However it is easy to calculate the melt value of silver coins. Melt Value (90%) = Face X 0.7234 X Spot Melt Value (90% Silver Dollars) = Face X 0.77344 X Spot Melt Value (40% Kennedy) = Face X 0.2958 X Spot Melt Value (40% Ike Dollar) = Face X 0.3161 X Spot Melt Value (War Nickels) = Face X 1.1252 X Spot Example 1 - Assume silver spot is $13.00. Calculate the melt value of 2000 Franklin Half Dollars. Face value = 2000 X $0.50 = $1000 Melt Value (90%) = $1000 X 0.7234 X $13.00 = $9,404.20 Example 2 - Assume silver spot is $13.00. Calculate the melt value of 200 War Nickels. Face Value = 200 X $0.05 = $10.00 Melt Value (War Nickels) = $10 X 1.1252 X $13.00 = $146.28 Naturally, a dealer will not pay you full melt value for your silver coins. The purchase price may depend on how much you have to sell. For instance, they may offer 90% of melt for $1,000 or more face value but only 80%% of melt for $100 face value. Whatever the discount is you can easily apply that to the calculated melt value. For example, suppose a dealer is paying 90% of melt value for $1,000 bags of 90% silver Franklin Halves. Using the melt value calculated in Example 1 above the dealer is paying 90% X $9,404.20 = $8,463.78. Hope this helps.
Thanks. Ended up getting $150 for $50 worth of 40% halves, so 3X melt at 13.18. Coul have driven an hour (each way) and gotten 18 dollars more, but didn't feel it was worth it with the cost of gas etc.
