What are you all paying for 90% junk?

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

  1. rte

    rte Well-Known Member

    I was hoping Everyone would cut me some slack on that ONE as it was about 1AM.:yawn: well past my bed time.
    I went in to fix it, but couldn't get it done.
     
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  3. dpoole

    dpoole Junior Member

    I've heard 12x pretty consistently for a good while now.
     
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  4. myownprivy

    myownprivy Active Member

    Yep, still right around 12-13x with variation based on the denomination of the junk and amount purchased. Some specials available for just under that, Provident Metals, for instance. But, you can't control what denomination you receive.
     
  5. Bman33

    Bman33 Well-Known Member

    My LCS is selling it at melt.
     
  6. Mkman123

    Mkman123 Well-Known Member

    10x at local pawn shop (4.5 FV of walkers and frankies) for $45. Most places I've seen online, craigslist, etc are about 12x
     
  7. -jeffB

    -jeffB Greshams LEO Supporter

    Wow. I wish my local pawnshops would sell for under melt (at least on purpose). The one shop never seems to keep stuff long, so I guess they're pricing it right for their clientele, but the other has had the same tired Roosies and Washingtons laid out in the same careful rectangular array on a glass shelf for months. Maybe a year at this point.
     
  8. jfscmedic

    jfscmedic Well-Known Member

    10X Face on 90% US
     
  9. -jeffB

    -jeffB Greshams LEO Supporter

    Are you paying that to customers as a dealer, or paying it as a customer to a dealer? Or doing some sort of Craigslist thing?
     
  10. jfscmedic

    jfscmedic Well-Known Member

    As a Dealer to People who bring me 90% US coins to sell I offer 10X face
     
  11. -jeffB

    -jeffB Greshams LEO Supporter

    That seems like a perfectly fair offer. There's one local dealer who pays more at shows (he'd probably be around 10.8x-11x right now), but there are a lot who pay less. And I'm betting pawn shops would offer 6x at best right now, and would try to get it for less.
     
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  12. Doc J

    Doc J Mr. Brightside

    As a hobbyist, I'll pay X 12 since that is roughly the average of the melt price over a rolling period of time (melt is less as I type this).

    I enjoy the silver dollar (until 1935) and 1/2 dollar 'older' coins (call it pre-WW2 and during WW2) the most so I'd pay maybe 12-15 times melt for circulated coins.

    I've been buying for 30 years and never try to deny a dealer a fair profit (they are the "market makers" and keep the market liquid).
     
  13. Bman33

    Bman33 Well-Known Member

    Buy back on Junk 90 is -$.80 under face right now. You should be paying melt or less.
     
  14. Doc J

    Doc J Mr. Brightside

    That seems reasonable to me for a dealer.

    I have a coin show next weekend that I will pay X12- X15.

    I have no idea how coin dealers live on such a small profit margin.
     
  15. -jeffB

    -jeffB Greshams LEO Supporter

    Volume, volume, volume! And also nicer coins that carry a higher markup.
     
  16. Prez2

    Prez2 Active Member

    10x seems a little low but not awful. 12x seems to be the buy price from places locally. 14x to buy from dealers.
     
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  17. longshot

    longshot Enthusiast Supporter

    IMAG0847.jpg
    LCS today, 10.9x
     
    imrich likes this.
  18. Bman33

    Bman33 Well-Known Member

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