What are you all paying for 90% junk?

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

  1. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Storm Tracker

    Last time I purchased some pre-1965 junk I payed 13.0x spot at a silver price of $15 or $15.50 / ounce.
     
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  3. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Storm Tracker

    I'd like to know what coin shop sold all that! :p
     
    tpsadler, Soiled and imrich like this.
  4. lincoln

    lincoln Large Member

    It was purchased from a private party that needed some fast cash.
     
  5. bdunnse

    bdunnse Who dat?

    I just sold a bunch of junk silver at the local coin show for 10x face.
     
  6. Brett_in_Sacto

    Brett_in_Sacto Well-Known Member

    Ouch...
     
  7. Mr. Flute

    Mr. Flute Well-Known Member

    Last time I sold some was at the end of Sept 2015...for 12.8x face. Which was about $1 more than spot at the time. That was clearly a product of heavy customer demand with constrained supply which pushed up the premium at both ends of the buy/sell process.

    Good for me, since I used the money right there in the store buying some numismatic stuff (like a nice F/VF 1831 Bust Quarter).

    I guess in reality it was ultimately best for the dealer.
     
    Last edited: Jan 27, 2016
  8. bdunnse

    bdunnse Who dat?

    10x face is $14/oz right?
     
  9. tpsadler

    tpsadler Numismatist

    90% Silver = Face x .715 works for me ... Sometimes a premium is added to face based on Market then .. Value of Face = (Face + Premium) * .715 That would be the most someone would expect unless you are a gambler. Premium today is ~ $2 if you have over $100 in face value ... Premium will be ~$0 if you have less. 90% and Bullion is a short term marketer's gamble. Value of what you get is how you play the markets.
     
    Last edited: Jan 27, 2016
  10. Mr. Flute

    Mr. Flute Well-Known Member

    $14.5xface today (for $3 face) at my neighborhood LCS, but get to select my own coins from the pile.
     
  11. isaiah58

    isaiah58 Member

    For many years, 5% over melt value was pretty standard. My LCS buys at melt, always has. Their current premium is about 13%, has been since several years ago.

    As a raw bullion decision, I can not justify paying a higher premium for junk silver than for refined bars and rounds. I do understand it's a business, that heavy demand has shrunk supply.

    Sometimes I watch eBay for halves, bidding at 10% over melt factoring in if there is or is not a shipping fee. Very hard to pick any up that way but I try.

    I might drop by my LCS tomorrow and check things out in person on junk silver.
     
  12. Soiled

    Soiled Everyone has coin Avatars. I chose space.

    Big fan of Provident Metals. Usually have the best price. Sometimes find better deals on flea bay though.
     
  13. Nycmacman

    Nycmacman Active Member

    I pay right at spot. Advertise on craigslsit and people will come. Cash and kindness towards your customer is always king!
     
    asheland likes this.
  14. Bman33

    Bman33 Well-Known Member

    I have some common Morgans and Peace dollars that are in pretty bad condition too. I am trying to build a 90% stockpile. Should I include them in that stockpile or do they still have a higher value than the junk halves and dimes that I have been accumulating?
     
  15. jlogan

    jlogan Well-Known Member

    Dollars usually have a decent premium over junk, unless they are worn flat or damaged. The silver content in them is worth about $11-$12 right now, but they sell for $16 minimum.
     
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  16. Mr. Flute

    Mr. Flute Well-Known Member

    $14/face today at my LCS. Got $3 face of Franklin halves and Washington quarters.
     
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  17. imrich

    imrich Supporter! Supporter

     
  18. Bman33

    Bman33 Well-Known Member

    I checked a couple of LCSs to see what they were buying 90% at. One was 10x and the other 8x. Not much demand out here they said. They probably sell it at 13-15x though. Going to coin show next weekend. Going to see what dealers are buying it for.
     
  19. progger

    progger New Member

    As of the past week, I have, happily, cherry-picked some Walking Liberty dimes for 15X at a LCS. I also found a roll of 1964D FDR dimes at 14X elsewhere. The price of silver has been recently edging up so I would rather pay more for something vintage.
     
  20. Revi

    Revi Mildly numismatic

    Good deal. I got some a week and a half ago for 14x face, but I think the price went up last week.
     
  21. imrich

    imrich Supporter! Supporter

    I recently sold 2+ rolls of mutilated "culls" to the largest LCS in our state for ~50% more than melt value, after viewing his buy offer on Craigslist.

    I believe you'll be able to locate local buyers willing to pay similar premiums, when offering on Craigslist.

    JMHO
     
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