How much are dealers paying for silver

General discussions about canadian coins.
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Hot Brass
Posts: 88
Joined: Wed Mar 06, 2013 8:59 am
Location: Ontario,Canada

How much are dealers paying for silver

Post by Hot Brass » Sun Mar 31, 2013 7:55 am

Just wondering how much dealers are paying for scrap silver....is it so much under spot price,maybe $2.00 or such much a gram?. let's say I buy a bag of pre-1967 silver coins for $300.00,how much would a dealer pay for it if I were to sell?Thanks,Hot Brass

Bill in Burl
Posts: 627
Joined: Thu Sep 04, 2008 7:41 am
Location: Golden Horseshoe, ONT

Re: How much are dealers paying for silver

Post by Bill in Burl » Fri Apr 05, 2013 2:40 am

Most dealers will give you 85-90% of scrap, but you would have to be a friend to get the 90%. I find that, at most of the large shows in the T.O. area, you can find 88% pretty easily. Each face dollar of pre-67 is .6 troy oz of silver. Make sure that you check the scrap silver price (that's in US dollars) before you ever try to sell and multiply by .6 and you'll get the "X-face" value. You'll have to convert between US/Canada dollars. Coins that are more worn may only get you 80%.
Bill in Burl

verdigris
Posts: 227
Joined: Wed Jan 09, 2013 11:51 am

Re: How much are dealers paying for silver

Post by verdigris » Fri Apr 05, 2013 7:15 pm

Or .... you could sell it on ebay to non-dealers that expect, and are willing to go higher than spot.


Cheers

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