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10 LBS of JUNK SILVER - WHAT'S IT WORTH??

 
Anonymous Coward
User ID: 68254
United States
11/10/2007 09:29 PM
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10 LBS of JUNK SILVER - WHAT'S IT WORTH??
I just weighed an old bank bag of loose junk silver (US coins from pre 1964). Any idea of the value?
Elusis

User ID: 324109
Canada
11/10/2007 09:32 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
are they pure? if not, find out how to melt them down and siphon off the good shit
Swimming in a sea of fractals
Anonymous Coward
User ID: 265447
United States
11/10/2007 09:41 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
They are 90% silver.. Pure silver would be around(just below) $2500 spot right now.. But I think pre 64 US silver coins would be worth more in a crash because people would take them when they might not take the bill..

Make sure none are key dates or have and collector value..
Anonymous Coward
User ID: 318673
United States
11/10/2007 09:47 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Don't go by the weight with junk silver. Count the face value of the coins. I junk bag of coins with face value @ $1000, right now is somewhere around $7500.
Anonymous Coward (OP)
User ID: 68254
United States
11/10/2007 09:48 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
So, best to hold onto it for now? I've had the bag in a closet for 9 years (since I purchased it). I assume it has little if any collector value; more important is the 90% silver which has risen in value considerably in 9 years.
Thanks,
Anonymous Coward
User ID: 318673
United States
11/10/2007 09:53 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Ya, don't get rid of it now. Of course you could make a little money, but that bag of silver could keep you set for quite a while when the hurt comes down. In the '70s during the gas shortage, many stations would only take pre 64 stuff. I saw it for myself. That bag will go up in value alot in the coming few months. You're lucky to have it. DON'T tell anyone that you have it. Even (especially) relatives.
fnord
User ID: 212920
United States
11/10/2007 09:54 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
I just priced some junk silver today. They were willing to retail mixed old silver coins for $11/oz. for 160 oz (10 lb) that would amount to $1760. They would have probably bought the same amount for $1400.
Anonymous Coward
User ID: 231734
United States
11/10/2007 10:03 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Actually, I think the current market value is closer to TEN times face-value right now, as 1K face bags are going for 10K +.
I'm also pretty sure that the '715 ounces' value for the approx. weight is in TROY ounces, per usual for PM's
[link to www.coloradogold.com]
Anonymous Coward
User ID: 318673
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11/10/2007 10:05 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
I just checked with 1 source and they are selling $100 face val. of 1/2 dollars for $1295. These things have gone crazy in the last few weeks.
wil b wuz

User ID: 318673
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11/10/2007 10:16 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Remember though, that when it's crunch time and people start taking those coins for goods, it's going to be a dime is a dime and quarter is a quarter. They won't give you more just because they're silver. But, you will be able to buy things where others won't.
Anonymous Coward
User ID: 231734
United States
11/10/2007 10:59 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Remember though, that when it's crunch time and people start taking those coins for goods, it's going to be a dime is a dime and quarter is a quarter. They won't give you more just because they're silver. But, you will be able to buy things where others won't.
 Quoting: wil b wuz

Ehhh.. possibly, but right now, the silver dimes are more like silver DOLLARS, and the halves are par with a fiver.
Anonymous Coward
User ID: 103356
United States
11/10/2007 11:21 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Most dealers will pay 8 times face value for 90% silver US coinage in smaller quantities. 10 pounds would fetch 9 times face value.
Anonymous Coward
User ID: 186317
Costa Rica
11/10/2007 11:29 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
2.400 dollars
160oz * 15.00 = 2400?
Anonymous Coward
User ID: 103356
United States
11/10/2007 11:35 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
2.400 dollars
160oz * 15.00 = 2400?
 Quoting: Anonymous Coward 186317


If you have $2,400 face value of 1964 or prior, dimes, quarters, halves and dollars; that would be:

$2,400 * 9 = $21,600.
Prof-Rabbit
User ID: 148352
Australia
11/10/2007 11:42 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Melt some of it down and make "real" silver bullets, sell 'em on Ebay, triple the value, easy.

quote
About ten years ago this guy had a table at the Del Mar gun show
who was selling cast .357 silver bullets and some loaded .38
special rounds. I think the bullets went for $15 and the loaded
cartridges for $20. He told me it was very difficult work and most
of his castings came out poor and unusable. Most of the loose
bullets for sale had imperfections to one degree or another and
he used his best bullets in the cartrdges he loaded.

I imagine swaging or other types of metal working would be superior
to casting.
end quote
Anonymous Coward
User ID: 296455
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11/10/2007 11:42 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
I just priced some junk silver today. They were willing to retail mixed old silver coins for $11/oz. for 160 oz (10 lb) that would amount to $1760. They would have probably bought the same amount for $1400.
 Quoting: fnord 212920


You have 160 oz. of Silver ? That's 13.25 Troy LBS. Silver is measured in Troy oz. 12oz. per pound.
Anonymous Coward
User ID: 278551
United States
11/10/2007 11:43 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
make the silver bullet for werewolves, soon we'll need that.
Anonymous Coward
User ID: 134601
United States
11/10/2007 11:46 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Okay, I just openned the bag and its all dimes, ($300 worth face). About half Mercury and half Ike's (1930's - 1964). No "junk" at all; just circulated condition.
The bag weighs 10 lbs. If dealers are giving 90 cents per dime, that's $ 2700. Sound right?
Anonymous Coward
User ID: 31623
United States
11/10/2007 11:52 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
"junk" silver?
Riiiight.
ROFLMFAO
Anonymous Coward
User ID: 103356
United States
11/10/2007 11:52 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Okay, I just openned the bag and its all dimes, ($300 worth face). About half Mercury and half Ike's (1930's - 1964). No "junk" at all; just circulated condition.
The bag weighs 10 lbs. If dealers are giving 90 cents per dime, that's $ 2700. Sound right?
 Quoting: Anonymous Coward 134601


$300 * 9 = $2,700. You are correct.
Anonymous Coward
User ID: 296455
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11/10/2007 11:53 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
I just priced some junk silver today. They were willing to retail mixed old silver coins for $11/oz. for 160 oz (10 lb) that would amount to $1760. They would have probably bought the same amount for $1400.


You have 160 oz. of Silver ? That's 13.33 Troy LBS. Silver is measured in Troy oz. 12oz. per pound.
 Quoting: Anonymous Coward 296455
Anonymous Coward
User ID: 103356
United States
11/10/2007 11:56 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
"junk" silver?
Riiiight.
ROFLMFAO
 Quoting: Anonymous Coward 31623


"Junk" is a term used in the numismatic field to describe circulated, non-key date coins. These are coins that have average or above average wear that cannot really be sold for a premium other than their melt weight.

[link to en.wikipedia.org]
Anonymous Coward
User ID: 103356
United States
11/11/2007 12:00 AM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
bump for 11/11.
Anonymous Coward
User ID: 231734
United States
11/11/2007 12:03 AM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
You have 160 oz. of Silver ? That's 13.25 Troy LBS. Silver is measured in Troy oz. 12oz. per pound.
 Quoting: Anonymous Coward 296455

Almost right... 12 Troy Oz. make a Pound, but it's a TROY POUND !

The only unit I see in the conversion tables that is the same across all of the various is GRAINS, which is probably familiar to those re-loaders out there. From "Machinery's Handbook":

"Avoirdupois or Commercial Weight:

1 pound = 16 ounces = 7000 grains (& 1 ounce = 437.5 grains)

Troy Weight, used for Weighing Gold and Silver:

1 pound = 12 ounces = 5760 grains (& 1 TROY oz. = 480 grains)
"

{Apothecaries' Weight - same as 'Troy' (1 lb = 12 oz. =480 grains)}

7000 / 480 [grains] =14.5833.. Troy Oz. per <STANDARD POUND>

Hope that helps.
Anonymous Coward
User ID: 134601
United States
11/11/2007 12:06 AM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Some of the coins are like newly minted coins ie shiny with no wear. The Mercury dimes show wear, no doubt but these coins are not damaged per se with holes etc as I've seen "junk" advertised. The coins are in general use condition.
Anonymous Coward
User ID: 31623
United States
11/11/2007 12:09 AM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
"junk" silver?
Riiiight.
ROFLMFAO


"Junk" is a term used in the numismatic field to describe circulated, non-key date coins. These are coins that have average or above average wear that cannot really be sold for a premium other than their melt weight.

[link to en.wikipedia.org]
 Quoting: Anonymous Coward 103356

Oh, I know. I was just being facetious. The term has always seemed to be a bit oxymoronic to me, in these perilous times especially. But thanks. :)
Anonymous Coward
User ID: 231734
United States
11/11/2007 12:15 AM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Some of the coins are like newly minted coins ie shiny with no wear. The Mercury dimes show wear, no doubt but these coins are not damaged per se with holes etc as I've seen "junk" advertised. The coins are in general use condition.
 Quoting: Anonymous Coward 134601

Yeah, but the beauty of the Merc dimes...like Franlin halves etc. is that they are INSTANTLY recognizable as silver, since no clad versions of them were ever made...
Anonymous Coward
User ID: 32062
United States
11/11/2007 12:28 AM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Get a book on coins and see what the face value of the coins are, they are more valuable minted than melted.
Anonymous Coward (OP)
User ID: 68254
United States
11/11/2007 10:54 PM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Okay: here's an ebay listing for $16 face value in 90% silver dimes (160 dimes) of the same quality and mix as my $300 face value lot mentioned above.

The ebay listing has 22+ hours left with 6 bids already entered with a high bid of $152.50. That's almost 10X face if I'm doing the math correctly - with 22+ hours to go.

Let's see how high it goes...

[link to cgi.ebay.com]
Anonymous Coward
User ID: 85241
United States
11/12/2007 08:23 AM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
I kinda like the Australian Silver Kookaburra series.
[link to www.apmex.com]

i like to buy Gold, Silver on any pause or pull backs.

($100 Face Value) Bag of 90% Silver Coins 71oz is $1,058.16.
WTF
[link to www.apmex.com]




hiding
wil b wuz

User ID: 318673
United States
11/12/2007 08:33 AM
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Re: 10 LBS of JUNK SILVER - WHAT'S IT WORTH??
Looking at the value of your dimes today on the resale market is not the same as preping yourself to have those dimes to spend on necessities when everyone has lost faith in the dollar's value in the future. You should only be concerned about their value if you just want to sell them off for some federal reserve notes today. You can take those notes and spend them on whatever goods or pay bills, today. But, we are getting very close to the time when only people holding money like those dimes will have any real buying power. People hold on to those coins so that they won't get stuck with useless paper money at some point.

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