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silver
- Thread starter mike k.
- Start date
JOHNMARKHAM
New member
theres ara too in texas around dallas that buys too...
Buried Crap NJ
New member
Scroll down and see what they pay. They pay for shipping also.I have send them coins before I have 98 quarters I want to send in I just am holding out for 2 more!
http://silverandgoldexchange.com/sell-silver-and-gold/what-we-pay/
http://silverandgoldexchange.com/sell-silver-and-gold/what-we-pay/
Buried Crap NJ
New member
Here's
98 Q
93 D
12 H
1 D
total $679.53
98 Q
93 D
12 H
1 D
total $679.53
MidWest Will be close to spot quote.Silver hit a bench mark of $30.00 an oz.at the close and then went back down to 28.00.My guess 25 times face value.So $679.23 X 25=$16,980.75 so correct me if I'm off? My point silver is on the way up some forecast $100.00 an oz.so don't give it away to some crooked outfit for 10 time face value, shop around.
Buried Crap NJ
New member
Ya I think you missed something? There 9.30 cents in dimes 24.50 in quarters 3.00 in half's 1 silver dollar $37.80 in silver coins.
So that the current value is 18 times face. or 679.53. And there was no intent to sell this little amount at this time. steve
So that the current value is 18 times face. or 679.53. And there was no intent to sell this little amount at this time. steve
Buried Crap NJ
New member
Another point is Midwest and others are quoting 92% of spot on Pure silver .999
90% spot of the silver content in silver in coins. Coins are not pure they are 90% silver. So you need to do the math on coins.
So weigh a quarter and then take 10% of it weight then multiply that by 90% of spot.There's your answer. These place won't give you a number. Even based on the close. Current melt on a silver quarter is 20.74 face value. If your getting 18 face that's pretty good. You have to give room for the Vigorish (vig)
90% spot of the silver content in silver in coins. Coins are not pure they are 90% silver. So you need to do the math on coins.
So weigh a quarter and then take 10% of it weight then multiply that by 90% of spot.There's your answer. These place won't give you a number. Even based on the close. Current melt on a silver quarter is 20.74 face value. If your getting 18 face that's pretty good. You have to give room for the Vigorish (vig)
Information appreciated,Thanks
Critterhunter
New member
Nice collection of coins there! Where did most of them come from...pounded out parks, virgin yards, etc?
ARA is the one most people like best for gold and probably silver over Midwest. From what I hear they pay just a bit more and don't have any hidden fees and such. I recently sent them a gold ring for my first experience with them and it was within $2 of what I thought I would get and the check came within 3 or 4 days after they received the package.
I'm glad to see I'm not the only one who cashes in their silver coins. I feel kind'a guilty about that as I would have a really nice collection of silvers by now. Still, I only cash in on the common dates that aren't really worth anything. I keep the more rare/expensive coins that are worth way more than their weight, and I even keep a few silvers that might not be worth anything more than weight but are special to me for being a coin I never dug before or such. Then there's all the silver rings I've cashed in or gave away to family. Just some times I sit back and regret not having the huge collection to look at. Still, I've got all my coppers and other coins, and a few rare silvers that I cherish and will even sell those if the right price comes along.
I've got a friend who has kept every single coin he's ever found and he's got a huge collection of silvers as a result. It's fun to look through that coin book and talk about where and how certain ones were found, but in the end it's still just something sitting on the shelf collecting dust to me. He's got about $19,000 of gold rings (not even counting the diamonds) he's sitting on as well. In the situation I'm in at the moment I would sell that stuff off in a heart beat, but he's got a good job so I'd probably hold on to all the stuff too if I didn't need the money to fund other projects, new detectors, and etc.
ARA is the one most people like best for gold and probably silver over Midwest. From what I hear they pay just a bit more and don't have any hidden fees and such. I recently sent them a gold ring for my first experience with them and it was within $2 of what I thought I would get and the check came within 3 or 4 days after they received the package.
I'm glad to see I'm not the only one who cashes in their silver coins. I feel kind'a guilty about that as I would have a really nice collection of silvers by now. Still, I only cash in on the common dates that aren't really worth anything. I keep the more rare/expensive coins that are worth way more than their weight, and I even keep a few silvers that might not be worth anything more than weight but are special to me for being a coin I never dug before or such. Then there's all the silver rings I've cashed in or gave away to family. Just some times I sit back and regret not having the huge collection to look at. Still, I've got all my coppers and other coins, and a few rare silvers that I cherish and will even sell those if the right price comes along.
I've got a friend who has kept every single coin he's ever found and he's got a huge collection of silvers as a result. It's fun to look through that coin book and talk about where and how certain ones were found, but in the end it's still just something sitting on the shelf collecting dust to me. He's got about $19,000 of gold rings (not even counting the diamonds) he's sitting on as well. In the situation I'm in at the moment I would sell that stuff off in a heart beat, but he's got a good job so I'd probably hold on to all the stuff too if I didn't need the money to fund other projects, new detectors, and etc.
Buried Crap NJ
New member
Most of that silver came from hunting dirt, the darker coins came from beach area's the really clean stuff came from change and roll hunting. Almost all of it came from 2010 some the end of 2009. It just never made the 5 gal pail. Its not going to be sold anytime soon. That group was just available for the photo.steve
Buried Crap NJ
New member
I heard someone say it was going to hit 100.00 next year I willing to gamble it was found money. LOL!
goldnugget
Active member
There are not paying much, but maybe the shipping would help out. At least you don't need a large amount
Buried Crap NJ
New member
Again that's for pure silver this is coin silver just like gold they pay 98% of spot on pure gold.Not too many of us find pure gold on the beach.erikk said:
Percentage of gold!Do the math 1400 an oz 98% =1372 an oz for pure but for 12k you only get 686 an oz 18k you get 1029 oz.
24 K 1.000 100.0 1000
22 K .917 91.7 917
20 K .833 83.3 833
18 K .750 75.0 750
16 K .667 66.7 667
14 K .583 58.3 583
12 K .500 50.0 500
10 K .417 41.7 417
9 K .375 37.5 375
Ha! It never ceases to amaze me to read posts from people regarding "spot price" vs prices paid for silver or gold.
Someone here needs to get a clue about what spot price refers to... It has NOTHING to do with scrap gold or silver.
It is ONLY about silver and gold fine bullion... 999 pure... in "good delivery" bar form. That doesnt even mean your average silver or gold bullion bar. It is a bar from a small list of NYMEX approved mints... such as Englehard, Johnson-Matthey and a few others.
I looked at the Silver and Gold Exchange price chart referenced above and they seemed to be right on track... very close to spot for premium bullion... above spot for some coins..and below spot in varying degrees depending on purity and whether the item is "scrap" or not.
It is not cheap to refine scrap and have it recast into bullion, especially if they are paying for shipping and insurance.
I also noticed that they operate differently than refiners in a very good way. I can't tell you how many times I have been screwed by these places that advertise they pay 90% or more for scrap. Besides having to pay my own shipping, they also just melt the metal and send a check with an assay report that is always way low in their favor. There is no recourse but to shut up and cash the check because the metal is long gone. I see the Silver and Gold Exchange notifies you of their offer BEFORE they send a check and BEFORE they melt the metal. If you arent satisfied with their findings, they send the stuff back at their expense.
I have not used this company yet, but I will soon and I will check back in on this thread and let you know how it went.
Someone here needs to get a clue about what spot price refers to... It has NOTHING to do with scrap gold or silver.
It is ONLY about silver and gold fine bullion... 999 pure... in "good delivery" bar form. That doesnt even mean your average silver or gold bullion bar. It is a bar from a small list of NYMEX approved mints... such as Englehard, Johnson-Matthey and a few others.
I looked at the Silver and Gold Exchange price chart referenced above and they seemed to be right on track... very close to spot for premium bullion... above spot for some coins..and below spot in varying degrees depending on purity and whether the item is "scrap" or not.
It is not cheap to refine scrap and have it recast into bullion, especially if they are paying for shipping and insurance.
I also noticed that they operate differently than refiners in a very good way. I can't tell you how many times I have been screwed by these places that advertise they pay 90% or more for scrap. Besides having to pay my own shipping, they also just melt the metal and send a check with an assay report that is always way low in their favor. There is no recourse but to shut up and cash the check because the metal is long gone. I see the Silver and Gold Exchange notifies you of their offer BEFORE they send a check and BEFORE they melt the metal. If you arent satisfied with their findings, they send the stuff back at their expense.
I have not used this company yet, but I will soon and I will check back in on this thread and let you know how it went.
Buried Crap NJ
New member
Thanks Greg for the great post. I have used this company for sterling silver and have been very happy with the results. I wish people would read before they post.They might even learn something here?