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Provident selling worn junk silver by weight

PostPosted: Mon Feb 24, 2014 10:41 am
by beauanderos
well... not exactly :shifty: but at least they're not claiming that dateless Standing Liberty quarters are going to be .715 troy ounces per $100 face.

http://www.providentmetals.com/1-face-standing-liberty-quarters-no-date-minted-1916-1930.html

they must have had some complaints about getting shorted "ounces." They're still selling by face value, just not asserting they'll hit 715 standard.

Re: Provident selling worn junk silver by weight

PostPosted: Mon Feb 24, 2014 1:12 pm
by pennypicker
When a person is buying ASE's, generic rounds & bars from top outfits like Provident and Apmex you know exactly how much silver you will be getting. However with 90%, especially older bullion such as mercs & walkers, you never really know how many "slicks" they're going to stick you with. This is important to consider because I feel that in the future, when silver nears the $100 mark, dealers will buy 90% by weight as opposed to face. This will eliminate any issues with how many slicks there are in the bag. Some buyers are already adopting this policy on large amounts such as Pawn Stars on tv.

In this regard there are some members here on Realcent with high integrity such as the originator of this thread who regularly sells 90% on the Buy It Now board. Not only do they sell it at a cheaper price than the big on-line dealers but they also sell "quality" 90% meaning they don't salt their rolls with more slicks than one would expect to find from a roll created from random pulls. :thumbup: