Decided to sell my silver dimes.
Make sure that when I am gone the silver dimes are not just spent as ten cents each.

Called some who advertise to BUY SILVER in local area.
Explained that had common silver dimes with no claim of collector value.
NONE would give a phone quote. "Bring them in."
My guess is they KNOW their offer would be FAR BELOW scrap/melt value.

I expect the buyer to make a profit.

Have you received phone quotes?

*****

An old gun show quote: I know you need to make a profit.
I don't mind the price for a couple of cases of domestic beer.
I do not intend to let you buy cases of scotch.

Bekeart

They want to get you in the door as opposed to let you shop over the phone. The old "bird in the hand" saying. They know that once many people come in the door, they (the buyers) got them.

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So many S&W's, so few funds!!

Would ask them is this your normal policy or because the Silver price is tanking?
What do you normally buy the 90% for - Spot? Or Spot minus how much?
The 90% has low available, lots of online and local shops don’t have any.
I haven't bought any lately. The premium on it is usually higher than the Generic. I bought some Buffalo Rounds this morning.
My local dealer offered me ‘a deal’ on some American Eagles.
Those are priced out of sight!
Even when you get ‘A Deal!’

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NRA LIFE MEMBER

I have a tank of Freon,,
They want me to send it in,,(ship it) ,, THEN get a check,,,

Yea,, RIGHT!! LOL!!

I worked in a jewelry store back in the mid 1980's we bought gold ,silver and diamonds. if you called and wanted to know our price for buying silver it was no big deal, we did quote one price for a hand full and another for larger amounts. Find a better shop to sell to. In Indiana we use Silvertowne in winchester indiana they are big with their own smelter and have be nothing but fair to me in over 40 years of dealing with them

U.S. Silver Coin Melt Values | Silver Dollar Melt Value | NGC

Yes ... this is a common model in auto parts as well.
Corporate instructs them to go so far as to ignore everyone in line at checkout to get the guy on the phone in the door.
Solution ... set your stuff on the floor and walk out.
Policy will change as word gets around

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it just needs more voltage

SD Bullion, one of the Big Guys, is showing they buy 90% at Spot Bid + $2.80 an ounce.
Minimum 20 ounces silver.

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NRA LIFE MEMBER

Wife and I sold most all gold and silver coins and old jewelry sitting in the safe for maybe 20 years. Walked away with $12K which I figure was maybe a little more than half of what it was worth. They made out and we got cash that could be "repurposed." Win-win. As you get older "stuff" isn't worth as much as it was during the "acquisition phase" of life. Joe

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Wisdom chases me; I'm faster

My son several years back bought two (2) 10os bars of silver because "the price could surpass $50 per oz" and paid $35/oz. The bars are still sitting in my safety deposit box. One of those painful lessons that everyone just has to learn themselves (my lesson was spending $600 on a sure thing penny stock back when I had babies which I finally sold at a $450 loss. Soured me on the market for YEARS until a good broker brought me around).
I offered to buy the silver from my son for $20 an oz around 2 years ago but he dug in his heels and wanted what he had in them. Told him that he was lucky I was not charging him rent for using up space in my safety deposit box.

Could the Silver Price Really Hit US$100 per Ounce? (Updated 2023)

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Forum consigliere

If you want to know what silver dimes are worth ( melt value),
go to Coinflation and look for the silver coin values. They track
them during the day as the silver price goes up and down.
For your information, silver prices are down today. Might
want to wait until it goes up. Those silver dimes are in
great demand, and you shouldn't take anything less than
the melt price. Some coin shops will give you more than
spot, so shop around. Don't go to pawn shops. You'll get
way less than spot. The retail price for junk dimes and
quarters run 24 times face value depending on where you
look. So, any combination of dimes or quarters that equal
a dollar ( ten dimes, four quarters etc.) will sell for $24.00.
It's a supply and demand thing.

I bought some brand new silver one ounce "rounds" not too long ago from a well known online retailer. Kind of like buying a new car, as soon as you drive it off the lot, you lost money. Hey, at least I can say that I have some silver.

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'Merica!

I have 'buckets' of collected change sitting around the house from many years back.

None of it is special.

So, I rolled up about $450.00 worth and took it to a gold and silver exchange.

I have never purchased silver.

So, I exchanged my coinage for some basic 'rounds'.

Came out to be twenty ounces.

Yes, I paid the man's asking price.

Can't say I will ever do that again as I called him a few weeks later and asked about, "what would you give me for one ounce of silver" if I brought it back to sell you?

Spot.

So, in a weeks time I would lose about 25% of my initial expense.

God forbid I would like to have some freshly minted coin. They are asking close to spot X 2 for them.

I think I will just stick to my Smith and Wessons.

I really, really wanted to exchange all that loose change for silver, but I just don't see the sense in it.

bdGreen

Silver has been a terrible investment over a long period of time. I bought a 100oz for $760 ($720+$40 assay) around 1981. Worth say $2k 42 years later. Disney stock (I was building EPCOT at the time) was $13. 58 shares would be 2,784 shares with the 3 splits. At $88 would be $244,992 today, down substantially from $150/share last year but still a much better investment. Joe

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Wisdom chases me; I'm faster

The metal "rounds" from government mints or private mints with a solid reputation (not familiar enough with the private mints) and so marked, are worth a premium over bars with no source markings. Simply because the "bars" content is unknown. Then there's the minting costs.

Ya buy alternatives to money in case the money becomes not worth the paper it's printed on or the metal it's made from. Sometime back in Zimbabwe, toilet paper was literally worth more than the money. Back in high school I had a 50,000 DM bill in my hand from the Weimar Republic. At the time it was printed, it'd buy a loaf of bread-depending upon time of day.

Kind of makes me recall-with pain-passing up investment grade diamonds back in the 1960s and not being bright enough to buy gold back when it was $35/oz here in the US>

Yesterday melt value was $1.67 each.

Thanks.

Bekeart

Physical silver and gold are not really investments, they're a hedge against calamity.

I buy gold and silver simply because it’s shiny and cool

Attached Images

IMG_3325.jpg (86.5 KB, 62 views)

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My Daddy was a pistol..

A true hedge against calamity is lead, skip the gold and silver. Who has more power, the person with a house full of gold or the guy standing outside with a gun full of lead bullets? Let's get real folks, if thing go really bad it won't be gold and silver that will rule the day.

The only people that really benefit from gold and silver are the businesses that buy and sell gold and silver from the suckers. They get a premium on the sales and they buy under on the spot price. The rest of us pay and pay and pay. I think PT Barnum said something about this.

Let me re-phrase that: ..a hedge against financial calamity.

Gold, silver, and copper have historic intrinsic value. They have always been "money". Paper is paper.

Steel also has historic intrinsic value, as tools and weapons.

Just a few random thoughts.....do as you wish.

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Even older, even crankier....

Gold and silver has traditionally been seen as a safe place to park cash. Not a profitable place to park cash. For all the reasons we all know….. I invest a lot in precious metals. Nickel, Stainless and Blued.

Gold and silver are volatile, especially silver. It is recommended
you purchase precious metals with money you are not going
to need in the foreseeable future. Selling silver after just buying
it will usually result in a loss due to the premiums attached to
them. Premiums are the difference between the spot price and
the retail price. Right now the premiums on junk silver and
silver eagles are very high due to supply and demand. Junk
silver has not been made since 1964, and the U.S. Mint is
not making enough silver eagles to satisfy the demand. A lot
of folks are buying silver rounds because they are available
and are cheaper. The most popular silver round is the silver
buffalo, which is made by a number of private mints.

Money that is not needed in the near future is probably best served in a 12 month CD at 5.4%….. all the mkts are so volatile right now it’s hard to make investment decisions. If 12 months scares you, build a 12 month ladder.

I worked at a gold shop back in the great metal boom in 1980. Alot of people cashed in the franklin mint stuff that had over paid for years before and finally they were at a point when then could make money and took it. Some people bought and sat on it and thought it would go higher and lost money when it crashed. I learned back then that the only way to make money in the metals market was to buy it from the public and sell it immediately to a bigger buyer in quantity and take your profit and go.I still have 2 10oz & 2 1oz bars I took in on trade from my brother in law for a Naa guardian. Now I have made about $100 on that deal, forget they are in the safe . I was a coin collector as a kid and still have about $120 face value in silver coins and quite a few 1800's collector coins. Don't even think about them, would have to be hard up to even think about selling them along with a very seldom worn Rolex tutone datejust

The problem with financial calamity is how are you going to use the gold and silver? Take a file with you and shave off enough to buy your bread? Who are you going to sell it to and for how much? If you think that some individuals in the government haven't already thought of ways to....to...um how shall I say this politely....SHAFT gold and silver owners if there is this financial calamity then not only were you born at night but, you must have been born last night.

You take your gold or silver to someone to liquidate it, what are you going to get in return???? Bring a wheel barrow because that will probably have to be filled with the worthless dollars they will give you in return.

Man, I wish I had become a precious metal dealer when I was younger. Making money on both ends is the way to go. I guess kinda like a car dealer.

In the 1870s you could buy a brand new Colt revolver with a $20 gold piece. Pretty much the same thing today.

The value of the metal hasn't changed much. The value of the dollar has.

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Even older, even crankier....

Gold & silver have no 3rd. party counter risk. Put you money
in a CD, savings account, Money Market fund and your bank
fails, you are now an unsecured creditor waiting in a long line
to get your money back. A large number of small and regional
banks are on shaky ground due to a large exposure to
commercial real estate loans. Think shopping centers and
office buildings. People are shopping on line, and working
remotely from home. The commercial real estate investors
are looking at defaulting on those loans, and they are finding
it hard to sell these properties. Our economy is not in good
shape, despite what our government tells us.

What's bugging me is the economy is clearly slowing down. I see this in public information and in my own personal experiences.

Given an average lag-time of 18-24 months for the effects of monetary policy to have an impact that means we have seen zero results from all this tightening...yet. Just as they were too slow to react, they may have gone too far. We just don't know it yet. It's only been a year. I have a feeling 2024 is not going to be fun.

Right now, there's nothing wrong with cash. But you might want to have more than one bank.

Yes, The Silver Price is manipulated.
Mostly in the Silver Paper - Futures which is much larger than the actual real Metal Market.
The actual supply of real Silver on the open market is actually low.
The US Mint has recently declared several times they failed to deliver scheduled Silver Coins because they couldn’t get the Silver Blanks.
So if you are a Silver Investor- Speculator, actual Silver might not be a good plan. You might want to try Futures Trading! Lots of Luck!
But if you are a Stacker - Accumulator- like me - the Silver price manipulation often results in lower prices, a buying opportunity.
Stacker Saying- ‘ If you don’t hold it, you don’t own it.’

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NRA LIFE MEMBER

Had talked to a local buyer with good and honest reputation Wednesday.
Mentioned that I would be back Saturday with my "for sale".
Was told to get in before 1 PM as he closes then.
Today his shop was CLOSED for Memorial Day Weekend.
You snooze - You lose ...

Made a two-minute call to moneymetals.com.
Got a buying quote that is above the scrap metal content value.
More than I was expecting.
Will be shipping them my "junk silver" dimes.

Thanks again for the info "mojave".

Bekeart

I have maybe 600 silver dollars(Morgans) and 50 Peace dollars...2 1 pound coffee cans of silver 1/2 dollars. Keeping the 1/2s and going to move a bunch of the silver dollars. Got a few US gold coins...they appreciate every day. People pay premiums for decent Morgans. the /2s will make good barter if the economy goes to H. The coins I will make the mose on percentage wise is the Wheat pennies. I have almost 10,000 S mint mark wheat pennies. The fellow I got then from used 'em to help pay for a Remington 870. All bagged up too. I once had a fellow buy another 870 with a 5 lb chunk of melted gold rings and he paid for an assay...75-25%...Assay is kinda expensive. I actually made a good bit of money on that deal. He guaranteed me a minimum of 3000 dollars for a D grade 870 Trap Gun I had.

And I dabble in the stainless market.




Sent from my iPad using Tapatalk

I wish I had been stacking 12 gauge pumps and
the feed to go with them.

I bought most of my Silver dollars in the 60s. Mother worked as a teller in a local bank. She picked up all the silver coins that came over the counter. All the dollars cost me a buck...all the silver coins we took to the silver coin buyer in the Hunt Bros era. I kept the dollars and halves I had. I would go to the local banks and buy 500 dollars worth of 50 cent pieces..went through them to get the silver coins. Kept the 90%s and sold the 40% coins. So I have had them a long time... So long inflation has eaten away the profit I would make. I don't think silver is a very good investment...but better than gold in my opinion

I ignored that policy when I managed an auto parts store. I even said very loudly once, in the office with the door open, while talking to the district manager "Why should the people who bothered to get their *** out of a chair and come in take second place to those on the phone?"

I got some pushback until I asked if corporate was going to forbid me from posting store policy for all to see, and if so, why?

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NRA RSO