Posted: 1/3/2015 4:02:49 PM EDT
| Is it common for silver to sell over melt value right now? Talking pre64 quarters and dimes. Melt value of a roll of quarters should be $114.25 but they're selling in the EE for $139.50 shipped. Roll of dimes should be $57.11 but sold for $69.50 shipped. Is it just a supply and demand thing right now? Price is low enough that there are more buyers out there and they're proping up the price? |
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Is it common for silver to sell over melt value right now? Talking pre64 quarters and dimes. Melt value of a roll of quarters should be $114.25 but they're selling in the EE for $139.50 shipped. Roll of dimes should be $57.11 but sold for $69.50 shipped. Is it just a supply and demand thing right now? Price is low enough that there are more buyers out there and they're proping up the price? In Asia, they paying well over what we're paying for PMs. While the price dropped, the premium over spot has gone up. Dealers aren't about to lose their shirts as they paid a higher price before the price dropped.. |
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Is it common for silver to sell over melt value right now? Talking pre64 quarters and dimes. Melt value of a roll of quarters should be $114.25 but they're selling in the EE for $139.50 shipped. Roll of dimes should be $57.11 but sold for $69.50 shipped. Is it just a supply and demand thing right now? Price is low enough that there are more buyers out there and they're proping up the price? Shipping, insurance, trip to post office, yep, should all be free. |
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Shipping, insurance, trip to post office, yep, should all be free. Quoted:
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Is it common for silver to sell over melt value right now? Talking pre64 quarters and dimes. Melt value of a roll of quarters should be $114.25 but they're selling in the EE for $139.50 shipped. Roll of dimes should be $57.11 but sold for $69.50 shipped. Is it just a supply and demand thing right now? Price is low enough that there are more buyers out there and they're proping up the price? Shipping, insurance, trip to post office, yep, should all be free. If it cost you $25 to ship roll of quarters you're doing something wrong. Plus most of the time people were buying multiple rolls. |
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Silvertowne, no tax and many items ship free. Quoted:
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My Silver supplier ships free. Silvertowne, no tax and many items ship free. Nothing ships free. You are paying shipping in the purchase price. Taxes? They may not collect taxes. They may not even inform the tax authorities in your state that you have purchased such items. If discovered, those same authorities will want their tax money. TANSTAAFL |
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Yep. Premium silver like Maples and American Eagles go for $2.50-$4.00 over spot depending on the volume you buy. Generic silver .50-$2.00 over spot.
Selling private you should be able to get spot prices but that can take time. Pawn and coin shops tend to be the best on what they will give you. Premium silver usually $1.00-$2.00 under spot. Generic $2.50-$3.00 under spot. Stay away from the "we buy gold & silver" places. Back when Silver was in the $30's I sold some off and I wen to a couple of those places first. I actually laughed at some of their offers. Sometimes lower than 50 percent of spot. |
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Nothing ships free. You are paying shipping in the purchase price. Taxes? They may not collect taxes. They may not even inform the tax authorities in your state that you have purchased such items. If discovered, those same authorities will want their tax money. TANSTAAFL Quoted:
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My Silver supplier ships free. Silvertowne, no tax and many items ship free. Nothing ships free. You are paying shipping in the purchase price. Taxes? They may not collect taxes. They may not even inform the tax authorities in your state that you have purchased such items. If discovered, those same authorities will want their tax money. TANSTAAFL I'm completely aware that price above spot may be a little more than others, Silvertowne price is still fair and I dont have to leave the house to get it There is no additional charge for shipping. |
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Quoted: Yep. Premium silver like Maples and American Eagles go for $2.50-$4.00 over spot depending on the volume you buy. Generic silver .50-$2.00 over spot. Selling private you should be able to get spot prices but that can take time. Pawn and coin shops tend to be the best on what they will give you. Premium silver usually $1.00-$2.00 under spot. Generic $2.50-$3.00 under spot. Stay away from the "we buy gold & silver" places. Back when Silver was in the $30's I sold some off and I wen to a couple of those places first. I actually laughed at some of their offers. Sometimes as lower than 50 percent of spot. Pawn shops around here will rape you buying or selling. Call a few reputable coin shops before you get in the car. For the vast majority of common bullion products, they will quote you a price and you will see who will offer the best deal.
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Stay away from the "we buy gold & silver" places. Back when Silver was in the $30's I sold some off and I wen to a couple of those places first. I actually laughed at some of their offers. Sometimes as lower than 50 percent of spot. Those places don't exist to do business with market-savvy individuals. They are in business to take advantage of the uneducated people who've inherited grandma's jewelry and silverware. |
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Only 100% of the time. +1 If you can buy at spot, always buy it. No place that is in business of making money will ever sell at spot. Bullion, rounds and bars are usually @$1 over, Coins can be $3 or more over depending. Nusmatics throw the whole spot pricing out the window. |
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Nothing ships free. You are paying shipping in the purchase price. Taxes? They may not collect taxes. They may not even inform the tax authorities in your state that you have purchased such items. If discovered, those same authorities will want their tax money. TANSTAAFL Quoted:
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My Silver supplier ships free. Silvertowne, no tax and many items ship free. Nothing ships free. You are paying shipping in the purchase price. Taxes? They may not collect taxes. They may not even inform the tax authorities in your state that you have purchased such items. If discovered, those same authorities will want their tax money. TANSTAAFL Depends on which state you're in. Most states . . . well, a "lot" of states . . . don't collect sales tax on the sale of coins, paper money, or precious metals as it is considered the simple "exchange" (or "transfer") of one form of money for another. Like going to the bank and exchanging a $20 bill for two rolls of quarters. No tax involved. Sales Tax Laws | State by State Breakdown dp |
| First, everything is troy ounces with silver or gold or any precious metal. Coins are 90% silver (most of them), sterling is 92.5. Take the weight in ounces and multiply by .843 to get troy ounces. Then for silver coins multiply by .875 for melt value. That will give you troy ounces in pure silver. That is what the market is based on. Don't get ripped off. |
