What are you all paying for 90% junk?

Discussion in 'Bullion Investing' started by jlogan, Jan 1, 2016.

  1. 05Wildcats

    05Wildcats Well-Known Member

    Today, LCS was selling Eagles for 19.65, Rounds for 18.15, and 90% for 12.05.
     
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  3. myownprivy

    myownprivy Active Member

    I bit the side of my tongue while eating today.
     
  4. rte

    rte Well-Known Member

    What was your hurry?
    Relax and enjoy the food.
     
  5. 05Wildcats

    05Wildcats Well-Known Member

    Today, LCS selling Eagles for $20, Rounds for 18.50, 90% at 12.30.
     
  6. Bman33

    Bman33 Well-Known Member

    I have been paying melt for my last few 90% purchases. Premiums have gone way done in the last year. Demand for this stuff is stymied. Crap, demand for physical silver is garbage right now too. Unless it is a novelty item like a Lord of the Rings Coin from Mugatu Land it's going to be discounted significantly.
     
  7. iceberg

    iceberg New Member

    Wow Great Thread, just learned a lot. I have never paid attention to dimes until just recently when I sorted out a coffee can of dimes and found my first and only Mercury dime, and a few 1946 thru 1964 Roosevelt. The bug hit, so I have been searching online for silver Roosevelt dimes. One of the things I am doing is putting together some starter sets for a couple of nephews that have just started cub scouts, and want them to start off with as much silver in their sets as I can give them. Once again Thanks for the great information, I know I will be referring back to this before I make the actual purchase.
     
    Garlicus likes this.
  8. Mkman123

    Mkman123 Active Member

    Got 3.9 FV from a local pawn store for 10x per face value!!! Been able to get great deals once in a while from this place so I'll keep hitting them up!
     
    Garlicus and Nathan401 like this.
  9. TheMont

    TheMont Well-Known Member

    Pawn shops are great place to get silver, and sometimes you get a great collectable because they don't realize what they have.
     
  10. rte

    rte Well-Known Member

    As I pass thru Maricopa county Arizona I spot a We Buy Gold & Silver store.
    The place should have been open but a Sign on the door reads running really late Don't Wait.
    as I was headed out to my car a lady pulls up and asks if there open.
    I said nope looks like there running late and I turned toward my car.
    I figured id Ask IF She was looking to sell as I was looking to Buy.
    She had some silver (coins I ask?) Yes some silver coins...
    I asked How Much?
    She said Make me an offer, I had less then half a minute to look at a ziplock bag of silver coins and said $40...she hold's out her hand and receives the 2 $20 bills.

    Here is the list and a picture of the $9.65 face value when I got home. coin lot 2.jpg coin lot.jpg + face value when I got home.

    1925 peace dollar
    1911-s barber half
    2-1967 Kennedy halfs
    2-1968-d halfs
    1969-d half
    1971-d half
    1953-d Franklin half
    2 no date standing liberty quarters
    2-1943 Washington quarters
    1944 quarter
    2-1945 quarters
    1948 quarter
    1951 quarter
    1953-d quarter
    2-1954-d quarters
    1959-d quarter
    1961-d quarter
    1964 quarter
    1 no date buffalo nickel
    2004-d nickel
    1946 roosevelt dime
    1954-s dime
    1954-d dime
    1959 dime
    1963-d dime
    1964 dime
    2-1964-d dimes
    All for $40 and she was really happy with the offer.
     
    Garlicus likes this.
  11. David Setree Rare Coins

    David Setree Rare Coins Well-Known Member

    I wouldn't do that because my livelihood depends on word of mouth that I pay high and fair.

    I need repeat business also.
     
    Gilbert likes this.
  12. juris klavins

    juris klavins Well-Known Member

    BGASC is selling 90% silver coins for pennies above melt + 6.95 shipping http://www.bgasc.com/category/on-sale?r=e20180206
    I use an upper limit of 2% premium for dimes and quarters, 5% for halves when buying the Constiutional silver in bulk
     
  13. Bman33

    Bman33 Well-Known Member

    Provident has junk for melt. The link has gone up a few times.
     
  14. -jeffB

    -jeffB Greshams LEO Supporter

    I dunno, man. If you asked how much she wanted and she said $40, maybe that's OK. I'd be uncomfortable making an offer that low, though; I'm pretty sure my local pawn shop would offer more than that (barely 5x face, less than half melt). That Barber half looks like it has enough meat to go well above melt.

    As an eBay BIN? I'd be all over it. Even with the recent drop, I'll pounce on anything 10x or below, and consider paying 12x if it looks like there might be some goodies in the lot. Higher if there are definite goodies visible.
     
  15. David Setree Rare Coins

    David Setree Rare Coins Well-Known Member

     
  16. David Setree Rare Coins

    David Setree Rare Coins Well-Known Member

    I wouldn't even do that.

    I'm expected and acknowledged to be an expert and knowledgeable about the market.

    That wouldn't be a good thing to get around the neighborhood.
     
  17. rte

    rte Well-Known Member

    Good thing I'm from out of town then.
    With the wife patiently waiting in the car,I didn't have much time to look at the lot.

    I counted $5 face value in larger coins and threw out my offer.
    The lady was more then happy with the offer, so that maked me wonder if I missed something on the 3 hour drive home.

    I did good, there is about $100 In silver value and I didn't piss off the wife waiting too long.

    Win,Win
     
  18. -jeffB

    -jeffB Greshams LEO Supporter

    I have the impression that not all dealers have realized this. :rolleyes:

    I've wondered how ethical dealers handle someone coming in off the street with a big bucket of random stuff. I'd get hours of enjoyment picking through it, but while that time pays me, it costs a dealer. Is it even possible, never mind practical, to give such a customer a better deal than "looks like XX ounces of silver, I'll give you (going buy price/oz) * XX"?

    I know a couple of dealers at local shows to whom I'll turn with stuff deserving of expert attention, but surely the buckets of junk must get tiresome...?
     
  19. TheMont

    TheMont Well-Known Member

    You're not a Dealer, you were in the street. You asked if she was selling and she said yes. You made a quick on the spot decision on what to offer her. She was happy with your offer, and as it turns out you got lucky with what you got. I don't see a problem, it was a win-win situation.
     
    Sunflower_Coins and rte like this.
  20. David Setree Rare Coins

    David Setree Rare Coins Well-Known Member

    Only if they are unsorted Lincoln cents. Heh.

    Seriously though, it's not often people bring in buckets of junk. I won't sit and pick wheat cents out for someone either.

    But these are people of my community. They come to me for help. Yes, there is lots of junk but there are some cherries too. How would you feel if you weren't a coin collector and you sold your coins to find out later that your neighbor got 3x from me for the same thing at the same time.

    .......and this doesn't apply to everyone. If you consider yourself a dealer, whether or not you have a shop, I will treat you differently. If you are selling me a collection of bust half dollars, I will not feel obligated to point out the rare varieties to you. Do your homework.

    But this doesn't apply to mistakes. If something is included that wasn't paid for or visa-versa, I make good and expect you to also. If a mistake is made in math? Same thing.

    It shouldn't have to be discussed to death. We learned all this stuff in grade school.
     
  21. David Setree Rare Coins

    David Setree Rare Coins Well-Known Member

    It makes a difference when one is a dealer. Yes.
     
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