Value of junk silver 0

[jetsmell]

I went to my local coin dealer and asked how much he was selling his Constitutional silver for, and he said 13X. I didn't want to ask

because I didn't want him to know I am a rookie. What did he mean, and was it a good deal?

[kbbpll]

It means 13 times face value of the coins. So, ten 90% silver Franklin half dollars have a face value of $5, and 13x = $65. It seems to be the going rate. "Good deal" or not I suppose depends on the denomination - a Morgan dollar today has a melt value of $13.20, so if you got $100 of them for $1300, you're $20 ahead over silver price ($1320). Franklin halves are at $6.17, so if you got $100 of them (200 coins) for $1300, those 200 coins only have $1234 worth of silver and you're short $66. Because the Franklins weigh less than half of the Morgans.

I'm not a silver stacker so this is just my observation. Junk silver in coin form is going to be heavily worn anyway, so the weights can probably be 10% less than spec from the mint, and vary wildly within the pile. If I was going to speculate in precious metal, I would just buy the precious metal with a known weight and not a giant bag of coins. However, the Armageddon people probably think coin format is worth the discrepancies, due to the ability to exchange various small quantities.

[Just Bob]

I don't think I can add anything to that. (I was going to use dimes, because the math is easier to do in my head. )

 

[jetsmell]

Thank you.

[VKurtB]

16 hours ago, jetsmell said:

Constitutional silver

What a silly term! There is no such thing. It's a commercialized marketing term primarily used by a single website.

Edited November 19, 2019 by VKurtB