Trading 90% and 40% for 10oz Silver Bars

My girlfriend loves 10oz Silver bars. She also had a lot of junk 90% and 40% that she wants to trade for them. I have a fair dealer who will give her 1 bar per every 80 40% Kennedy Halves. We run with that. What I really want to know is this wise with 90%? I don't know what he wants for that exactly but I imagine she will be loosing silver on the premium paid.

 

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As I type this a 40% has is worth $2.684 in silver so you are paying $228.20 for a 10oz bar. Not a good deal. It is $47 over spot.

90% are more desirable than 40% in my opinion. I doubt he will improve much on the 40% price for 90% so I don't think it would be a good deal.

 

There is almost always a discount on 40% anywhere you go. He is giving me 91% of melt value which is the best I can find. I guess I just need to figure out premium charged after 91%.

 

A dealer here is paying $48 per roll of 40%. So 80 coins is $192.

 

I just ran the math and 80 40% coins comes out to $195.00. He''s charging a little over a dollar over spot after the 91% consideration. That's a good deal.

 

Would you consider 80 coins for 10oz bar a good deal?

 

I would not. I'd just take the $192 cash.

 

I would not. I'd just take the $192 cash.

 

If desperate times hit, it might be hard to sell or convert a 10 oz bar for food.

 

3 90% halves is just over 1 ounce of silver. (12.5x.9 x3= 33.75g) 31.1 g in a troy ounce.
7 40% halves is just over 1 ounce of silver. (11.5x.4x7= 32.2g) So there is less than 69 in a ten ounce bar. 69=317.4g 10 ounce bar 311g

 

I would not do the deal.

 

Here is an Idea Bman, Tell her to keep saving until she has about 1,250 or so worth and get a nice shiny gold one ouncer!! Crap i had to edit twice LOL

 

This is not my idea, it's my girlfriends. She loves bars and is willing to trade her stash of 90% quarters and dimes for them along with her 40%. I'll see if I can get a better deal or maybe she can. We're going to a coin show on Sunday.

 

Boy if I had the extra I would give her spot for the Quarters and 90%er's

 

I think some don't understand that 40% is the junkiest of junk. 91% of melt is a good deal. If you have ever sold or traded 40% let me know the melt percent you got.

 

This reminds me of trading in your used car to the dealer or selling it yourself... you are usually better off selling it yourself and using the cash to negotiate the best deal for your purchase. Same theory/advice applies here. Get the best (high) price for your stash and the best (low) price for your bullion. Usually this entails two different entities, one for the sale, another for the purchase.

 

Yeah, this is my girlfriends doing. She doesn't want to pay a dime and just wants bars. I tell her 90% is a beautiful thing and she only believes that in concerns to halves.

 

If your coin show is anything like the one I went to here earlier in the month:

You'll be able to sell 90% for close to melt, maybe 5% under at most.

People will be asking a stiff premium for 10-oz bars. ($25 over spot)

Nobody will be buying 40%. (One guy offered me 3x FV; melt was over 5.)

YMMV. I was surprised at this show; 90% buy prices were stronger than I expected, the total lack of 40% demand stunned me. One reliable buyer didn't want any silver, 90% or 40%. It was never like that at previous shows.

With silver heating up over the last few days, if it continues through the weekend, do go to the show ready to sell!

 

I have a pretty good relationship with a few of the dealers at these shows. I went to one two weeks ago and silver was selling really cheap. $.80 over spot for rounds and $.60 over spot for 90% quarters. I'll see what the selling market is this week. I have a Brick and Mortar shop that usually buys 40% at 91% of melt.

 

I would bet if you put it on here for spot you would sell. Even if you have to give a 3% paypal it would be worth it. I have never sold 40%ers Probably will one of these days but will try to get at least spot plus ship if I do. I am in no hurry, LOL