What are you all paying for 90% junk?

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

  1. Gilbert

    Gilbert Part time collector Supporter

    Let me express my reply differently. The average weight of older Mercury dimes is less than that of newer Roosevelts, so the dealer pays less per coin when buying Mercury dimes. Then, when he resells the Mercs, the price realized is greater per coin than a Roosevelt. Does your dealer also sell 90% by weight, and if so, what is the multiplier? Or does the dealer sell based on face value?
     
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  3. Bman33

    Bman33 Well-Known Member

    All of my dealers sell by face value. Yours charge by weight?
     
  4. Gilbert

    Gilbert Part time collector Supporter

    I apologize. Isn't that what you said in your previous post?

     
  5. Bman33

    Bman33 Well-Known Member

    I may have been confusing. I use coinflation all the time and It has .7234 ounces per $1.00 face. I noticed that online dealers and ones I interact with face to face use .715 as their multiplier. I asked a dealer about the difference and he said to compensate for wear on the coins. That was all I was pointing out. I was concerned if I bought a lot of dimes that the scenario you were talking about would come into play. Worn out Mercs vs uncirculated 64 Roosies. I would take the Roosie's any day. I don't know., are there dealers that bust out the scale when buying and selling junk silver?
     
  6. FryDaddyJr

    FryDaddyJr Junior Member

    I think it's good to diversify. Have junk silver, have pure coins, some with a little numi value, have pure bars, some big ones.
     
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  7. Bman33

    Bman33 Well-Known Member

    Totally agree. I like ASE's, Generics, 90%, and 10 ounce bars. Can't get enough of it!
     
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  8. Gilbert

    Gilbert Part time collector Supporter

    Thanks for clearing that up. To each his/her own but going strictly on value per piece I would go for the Mercury dimes. People use melt value but I doubt any 90% are being melted, as was the case during the late 1970s early 1980s. Of course I could be wrong on this.
     
  9. fish4uinmd

    fish4uinmd Well-Known Member

    With all due respect, aren't you all buying "junk" silver for the bullion content in the coins? I cannot for the life of me understand why some dealers would angst over .25 or .50 either way when the margins are so close.
     
  10. FryDaddyJr

    FryDaddyJr Junior Member


    It isn't being melted. just traded back and forth, and middlemen making money off from sheep.
     
  11. -jeffB

    -jeffB Greshams LEO Supporter

    Do you ever buy silver and then sell it later? Congratulations; you're a middleman.
     
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  12. Bman33

    Bman33 Well-Known Member

    He's just trying to be cool by calling people sheep.
     
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  13. Packrat

    Packrat Well-Known Member

    We never get dealers like that at our coin shows.
     
  14. -jeffB

    -jeffB Greshams LEO Supporter

    [​IMG]
     
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  15. FryDaddyJr

    FryDaddyJr Junior Member

    you're an end user who pays premiums coming AND going. You're a sheep to the middlemen.
     
  16. FryDaddyJr

    FryDaddyJr Junior Member


    a lot of buyers are sheep
     
  17. Packrat

    Packrat Well-Known Member

    Baaa!!!
     
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  18. -jeffB

    -jeffB Greshams LEO Supporter

    If I buy and then sell, I'm not an end user.

    If you define "middleman" as someone who makes money both buying and selling, and "end user" as someone who loses money both buying and selling, then you're right -- but you've also made a completely circular argument.
     
  19. Packrat

    Packrat Well-Known Member

    Seems like everyone I know is a "dealer."
     
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  20. Packrat

    Packrat Well-Known Member

    In my area people are paying 12.5 and selling at 13.-13.5.
     
  21. Packrat

    Packrat Well-Known Member

    Tennessee is a killer at 9.75% tax. They require shops and antique malls to collect the tax but seem to never check the flea markets. Also, they have never monitored the coin show we have once a year.
     
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