By the Gram.

[Hades12]

So far I have bought silver coins 3 times, once on here and twice local. the two local guys sold them by the Gram. I was expecting a number Xface, so It kind of threw me off for a few minutes. Do you guys go by the Gram when buying and saleing local?

so do you have a gram scale? Best place to get one?


thanks

These where todays buy. 1.05 per gram

[gettin copper]

How much face, and how much did you pay compared to spot? I see a couple local guys myself buying by weight, but don't know the exact math conversion.

I just picked up a gram scale. Best place to get them is a head shop where they sell bongs and other smoking stuff

[Doctor Steuss]

Do you guys go by the Gram when buying and saleing local?

I've heard that many dealers would likely go to weight (Instead of face) wen buying/selling junk silver once silver passed a certain $$ amount, but I haven't seen any dealers in my area buying/selling by the gram when it comes to JS. One dealer will pay/charge slightly less if the coins are really well worn, but that's about it. The main dealer I go to just buys/sells by face.

so do you have a gram scale?

Nope. I do need to pick on up though because my 1982 cents that need to be weighed is building up.

These where todays buy. 1.05 per gram

Is it the same price per gram regardless of denomination?

All the joints I know if charge a slight premium for halves, and a larger premium for dollars.

[Hades12]

Same price no matter what it was, he has some quarters and dimes and flatware but my last 400 is commited to a buy on some rounds.

It come to about 26.5X this guy is a jewerly shop he buys at 90% of 90% The guy that buys from him pays him 90% no matter what it is. going to try and get hooked up with his buyer.


The buy last week was 38 dollors, pile of 1/2's 1/4's and dimes. 1.09 per gram. different guy though.

[fasTT]

We have been buying more by gram here recently. Sell larger lots that way too.

[Thogey]

1.05 per gram of .90 total weight is $36.28 per OZ Ag.

You did pretty good, considering the Dollars you bought.

I like the gram pricing, just throw the coins of known purity on the scale.

Easy to figure and less likely to make a counting error, and the system accounts for wear.

[narragansett]

A troy oz is 31.1 grams. Divide the spot price by 31.1 then multiply by .90 (90% silver) and that is your price per gram.

36.28/31.1=1.166 1.166x.9=1.049

[68Camaro]

If it's worn silver I prefer to both buy and sell/trade by weight - that way there is no disappointment.

[Coppercrazy]

you can buy it now cheap reliable scales con ebay all day long if you dont have a head shop near you.

[68Camaro]

Harbor Freight has a cheap $10 (or less, on sale) 0.1 gram scale.

[Robarons]

For 90% its .715 oz of silver per $1 Face correct? I thought might have read some where that its really .723 oz of silver per $1 Face, but .715 was used to account for wear.

If this is true the BU coins if weighed would actually be in the favor of the seller because the old system uses the .715

[jerry278]

For 90% its .715 oz of silver per $1 Face correct? I thought might have read some where that its really .723 oz of silver per $1 Face, but .715 was used to account for wear.

If this is true the BU coins if weighed would actually be in the favor of the seller because the old system uses the .715

Robarons, That is a good point, and I Believe your correct. Although I also heard that it was only silver dollars that weight that so iam not 100% sure. Although if its true across the board for any BU coin then it defintely would work in the favor of the seller. Especially if they were selling a large lot.

[68Camaro]

For 90% its .715 oz of silver per $1 Face correct? I thought might have read some where that its really .723 oz of silver per $1 Face, but .715 was used to account for wear.

If this is true the BU coins if weighed would actually be in the favor of the seller because the old system uses the .715

Robarons, That is a good point, and I Believe your correct. Although I also heard that it was only silver dollars that weight that so iam not 100% sure. Although if its true across the board for any BU coin then it defintely would work in the favor of the seller. Especially if they were selling a large lot.

715 is commonly used for wear, for convenience, on the fractional coins. The silver dollars would use the same proportion, but the number itself is different because the silver per face $ is different.

I've measured this on coin buys for several years. In practice it varies widely from small lot to small lot. For large enough lots it is probably a reasonable number. But if you are buying low wear recent halves, they are nearly zero wear. Whereas if you are buying old barber or mercury dimes, or quarters, or halves, that are 50-100 years old, the wear ratio can be shockingly high, as much as 20% or even more. So use some discretion on how you apply that factor.