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<p>[QUOTE=&quot;Pocket Change, post: 835402, member: 8012&quot;]If spot is at 12x, then my dealer is selling me circulated 90% silver at 13/13.5x face, and he&#039;ll probably buy from me at 10.5/11x face.&nbsp; But this is my coin dealer.</p><p><br /></p><p>The coin dealer (and pawn shop, etc) sell the extra inventory either directly to a smelter like Silvertowne (<a href="http://www.silvertowne.com/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.silvertowne.com/" rel="nofollow">http://www.silvertowne.com/</a>) or to a middleman who goes around and collects this stuff.&nbsp; I&#039;m really not sure what they get, but I would guess somewhere around spot.[/QUOTE]</p><p><br /></p>

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