How much are dealers paying for silver

[Hot Brass]

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]

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%.

[verdigris]

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


Cheers