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Thread: Junk silver question ???

  1. #11
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    May 2013
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    Quote Originally Posted by maxwellsilverhammer View Post
    AG guy "correct me if i am wrong"

    i wish i could help you agguy regarding the 40%ers. i, for one, however, do not buy them and only sell them if i come across one at face value in circulation or in a bank box of halfs. whenever i have sold them i was never given more than 60% of the actual melt value. in my experiences they are not treated like any other "junk" silver i do or have stacked. same for the 35% war nickels.

    coinflation.com makes it really simple to get melt value... There are 0.2958 troy ounces of silver in 2 silver 1965-1970 Kennedy half dollar(s). Silver Price:$23.30 / troy ounce = $1 face now equals. $6.89 melt.
    AHH...come to think of it, My math was likely skewed by the total wt of the coins being less than the 64's due to more base metal in the coin with less density than the silver aspect. That would make 40% of the total a lower figure. I'll bet if I weighed the coins on a gram scale, 40% would mirror the 0.2958 T/O

    Ag guy
    live for today, admit your faults, do the right thing (even if you don't want to) & trust God!
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  2. #12

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    Quote Originally Posted by Ag guy View Post
    AHH...come to think of it, My math was likely skewed by the total wt of the coins being less than the 64's due to more base metal in the coin with less density than the silver aspect. That would make 40% of the total a lower figure. I'll bet if I weighed the coins on a gram scale, 40% would mirror the 0.2958 T/O

    Ag guy
    Ag, I sold a bunch of 40%'ers at one of the Albany coin shows last year, but I can't remember what I got for them. I do know it was more than I expected because everyone was going crazy for junk at the time. In fact that's the reason why I sold them. I used the cash to pick up some 0.999.
    Do your own due diligence

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  3. #13

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    Quote Originally Posted by LongDonSilver View Post
    Ag, I sold a bunch of 40%'ers at one of the Albany coin shows last year, but I can't remember what I got for them. I do know it was more than I expected because everyone was going crazy for junk at the time. In fact that's the reason why I sold them. I used the cash to pick up some 0.999.
    Quote Originally Posted by Ag guy View Post
    AHH...come to think of it, My math was likely skewed by the total wt of the coins being less than the 64's due to more base metal in the coin with less density than the silver aspect. That would make 40% of the total a lower figure. I'll bet if I weighed the coins on a gram scale, 40% would mirror the 0.2958 T/O

    Ag guy
    It would. 295 is correct.
    The current wholesale spread is .295x(spot +$2)/.295x(spot +$8). I've never before seen wholesale bids over spot, and I only recall asks over spot in discrete short times during the 70's and 2011. In my store, I buy at spot -$5, and sell at spot. It's not worth the possible hernia to deal with these for max profit, it's not even worth the refiners time(and expense in labor and furnace time) vs. gold.

  4. #14

    Default what would you do?

    have 1000 mercury dimes and melt is right at $1799. Someone wants to buy them for $7 premium over face so $2500. That is a true win but I just don't know if I can replace them these days. If I sell them that would be 1/3 of my junk dimes. I have looked locally and no one has any here to sell. I am not so certain that there will be availability again under 25 x face. I dont need the cash, but it would be nice to add more to the stack with other peoples cash. Opinions welcomed.

  5. #15

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    Quote Originally Posted by maxwellsilverhammer View Post
    have 1000 mercury dimes and melt is right at $1799. Someone wants to buy them for $7 premium over face so $2500. That is a true win but I just don't know if I can replace them these days. If I sell them that would be 1/3 of my junk dimes. I have looked locally and no one has any here to sell. I am not so certain that there will be availability again under 25 x face. I dont need the cash, but it would be nice to add more to the stack with other peoples cash. Opinions welcomed.
    Sell. You can be certain that there will be availibility under 25x for dimes, I personally guarantee it if needed for you, as long as the price of silver is under $30. I think in the normal course of stalking and stacking you'll be able to replace on your own.

    The current wholesale bid/ask is 22x-25x, or as my dealer quotes to me, buy at $6 over SPOT(.715 x 31=22.16x), sell at around $8-10 over SPOT(23.5-25x) . I frequently in the course of business(not personal stacking) am selling at the bid, whatever it is. Inside word is there is a large buy order through Heritage that's effecting premiums higher at the moment. 90% is generally held in personal sticky hands, there's few who are gonna get more motivated to sell at this point until and if we reach 50x, or 100x, but in the meantime before TEOWASKI, if you can sell at the ask, sell.
    Last edited by insidedealer; 04-05-2023 at 11:13 PM.

  6. #16

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    Quote Originally Posted by insidedealer View Post
    Sell. You can be certain that there will be availibility under 25x for dimes, I personally guarantee it if needed for you, as long as the price of silver is under $30. I think in the normal course of stalking and stacking you'll be able to replace on your own.

    The current wholesale bid/ask is 22x-25x, or as my dealer quotes to me, buy at $6 over SPOT(.715 x 31=22.16x), sell at around $8-10 over SPOT(23.5-25x) . I frequently in the course of business(not personal stacking) am selling at the bid, whatever it is. Inside word is there is a large buy order through Heritage that's effecting premiums higher at the moment. 90% is generally held in personal sticky hands, there's few who are gonna get more motivated to sell at this point until and if we reach 50x, or 100x, but in the meantime before TEOWASKI, if you can sell at the ask, sell.
    thank you insidedealer. its is a value to have your knowledge and experience offered on this forum.

  7. #17

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    I can tell you the majority of PMs being purchased are being sent over seas. Most dealers are shipping larger orders than normal and those people are being paid to ship to India, Russia and China. I personally know a few families from India and Indonesia that are being paid enough to do this that they could stop working and send a good amount out of the country every week.

  8. #18

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    So to update this thread as I am the OP, the thread was started on 3/25/23

    3/25 silver price $23.20

    today

    4/14 silver price $25.42 (down about .60 in the last 24 hours )

    Silver price up over $2 and yesterday was up over $2.50.



    I went to a big local coin store and asked how much was pre 65 he said 30x for $1, and he would beat the big online dealers.
    I checked the big online dealers, and they seem to be 30x also.

    I went back to that non coin/bullion store I went to on 3/25 where I purchased for 23X, I expected him to up the price with the higher price, but he still gave me 23x over, I bought a roll of halves, a roll of Quarters and $10 in dimes.

    He keeps these behind the counter not on display so I think that is my advantage, someone would have to ask him if he has pre 65 to find out he carries that. He does have a display case of coins in the shop but the prices on that stuff is real high, examples are painted ASE $55 and graded ASE by a garbage company graded 10's and he wants high $60 prices for those.

    He does not have gold and isn't even interested in buying it, not sure why except he is not a bullion or coin shop really.

    He has a lot of halves and dimes left but the halves walking liberty are getting to be worn as he lets me hand pick my coins each time. Probably still good rolls in there not total culls, the quarters he had some barbers, and standing libertys but they were really thin, the roll I bought today I took all Washingtons and most 1964s that were the normal thickness.

    I am not sure if I should be buying more at this price, don't want to deplete my stored cash reserve either.
    "Don't take advice online from a stranger, then again I am not a stranger, you can ask anyone that knows me"- Me

  9. #19

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    well 23 x face is not a bad price unless you can find a PRIVATE seller that will take less. maybe ask him if he would take 21 x face for all he has left. otherwise, dollar cost averaging is not a bad strategy for anyone if you can be consistant. keep visiting him every week or two and you will become a favorite client of his. personally, i dont think silver will be going down any time soon, and if so it will not last so you would have to use your dry powder to lock in the bottom if you are "lucky" enough to time that. keep on stacking. good fortune to you.

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