What's does the average coin shop pay a walkin for silver

??

 

Log in or Sign up to hide this ad.

There is no average coin shop, and what shops pay depends on what form the silver is in. Grandma's silverware is going to get a different price from vintage rounds/bars or ASEs or low grade 90% silver coins.

Unless there's some additional collectible value, any shop is going to pay a little back of spot and sell for a little premium over spot.

 

I'm talking 90% silver coins with only silver value.

 

too little.

 

Paul is right, but check this site before you go in to buy or sell, but don't forget to factor in the premium.
http://www.coinflation.com/silver_coin_values.html

 

thanks. I do have this app on my phone. I'm just curious if there's a generally percentage dealers tend to stick to when buying silver coins

 

There is no generally accepted premium. You're stuck with 'take it or leave it'.

 

Grandma's silverware is just as if not more likely to get a "no thank you" than an offer; not all shops want such things. Good overall point though.

As already said, there is no across the board percentage, and if you're looking to sell strictly junk, don't be expecting any "premiums" other than on, perhaps, dollars, but even this isn't a blanket fact. All depends on the shop. More important for you as the seller may be can you live with their offer whatever it is, and/or if other options (such as selling yourself and any hassles/downsides that come with) are worth considering. In the end though, an offer slightly back of isn't at all unreasonable.

 

Well now. I loved this response. It brings up a lot of questions I have to ask myself when buying. Kudos

 

Yeah, it kinda negated my interest in offering an opinion; I'll just stick to "what he said."

 

Jargon:

"back of spot" really just means "below spot"

while

"Premium" means "above spot"

 

I got a variety of prices. The best price I got was a dollar under spot per dollar face of junk silver.

 

5 bucks, 6 maybe

 

This response needs to be carved into marble or something similar. I just inherently "know" these pricing elements, without knowing exactly how I know, but they need to be said, often, especially to newbies. Bravos!

If the OP is looking for a liquid market with broad consistency, he's barking up the wrong tree.

 

You might also consider trading in the silver coins in exchange for something the dealer has in stock, assuming you would like to collect something he has.

 

I think when it comes to bullion coins like junk silver, best to buy when silver is very low and hang onto it for a long time and sell when it is very high. Issue also is how much interest could you have made on that money just putting it into the bank? Silver in large quantities needs to be stored safely, which also costs money. Unless you just like the coin, in that case, best to buy at the lowest you can since collector coins don't have the large swings that silver does.

 

This came up in another thread. I called two LCS's in my area and one was buying at 10x face value and the other was at 8x face value. People are paying 13x face for 90% on Ebay and at coin shows. That is my area though. Changes from place to place all over the US.

 

For.....?

 

A 1964 or Lower 90% Silver.

It is the current price ,I guess.

Online 11-13 x face value for 90% silver on E BAY.