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<p>[QUOTE="Sunbird, post: 5161455, member: 116324"]How long has this been true? Just recently? Maybe it's not the normal long-term situation.</p><p><br /></p><p>I doubt that the average person knows anything about old silver circulation coins. In my experience, most people know nothing about the use of silver a few decades ago, and would not know the relevant years or how to value junk silver, so I don't think wide knowledge can be the reason for the discrepancy. As each day, week, and month passes, fewer and fewer people will know anything about it, as more knowers die off and more young people come of age.</p><p><br /></p><p>Any dealers here? Seems like they would know why the discrepancy. One thing that occurs to me is that the dealer cost of dealing with junk silver is likely much higher than dealing with standard bullion. I always wondered how these big online dealers process junk silver. So they buy some bags from individuals, and maybe huge lots from other dealers. Then what? How do they know what they have in all those bags? They'd have to properly count it, vet it. That seems like a huge hassle. Do they have specialized coin counting machines for this? I've never seen them for sale, though I remember a machine for counting copper pennies. Do they have to use people to count all the junk? That would be such a hassle. I mean they don't just need to count it – they have to vet it. They have to check the dates of all these coins, and maybe weigh them. After all, some could be fakes, others could be post-64. If I was a dealer, I wouldn't be able to sell these at the same margins as 1 oz rounds and bars.[/QUOTE]</p><p><br /></p>
[QUOTE="Sunbird, post: 5161455, member: 116324"]How long has this been true? Just recently? Maybe it's not the normal long-term situation. I doubt that the average person knows anything about old silver circulation coins. In my experience, most people know nothing about the use of silver a few decades ago, and would not know the relevant years or how to value junk silver, so I don't think wide knowledge can be the reason for the discrepancy. As each day, week, and month passes, fewer and fewer people will know anything about it, as more knowers die off and more young people come of age. Any dealers here? Seems like they would know why the discrepancy. One thing that occurs to me is that the dealer cost of dealing with junk silver is likely much higher than dealing with standard bullion. I always wondered how these big online dealers process junk silver. So they buy some bags from individuals, and maybe huge lots from other dealers. Then what? How do they know what they have in all those bags? They'd have to properly count it, vet it. That seems like a huge hassle. Do they have specialized coin counting machines for this? I've never seen them for sale, though I remember a machine for counting copper pennies. Do they have to use people to count all the junk? That would be such a hassle. I mean they don't just need to count it – they have to vet it. They have to check the dates of all these coins, and maybe weigh them. After all, some could be fakes, others could be post-64. If I was a dealer, I wouldn't be able to sell these at the same margins as 1 oz rounds and bars.[/QUOTE]
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