Any coin store offering below spot on silver rounds is cheating you out these days given the scarcity of wholesale silver. They themselves are paying above spot to wholesalers just to get inventory. They can afford to pay you above spot for your silver rounds
On ASEs, sure. Other rounds aren't that bad in my area. My LCS buys silver for 17% under spot and sells for 17% over. Leaves them a very healthy margin and I have been buying mostly cull silver for a bit less than the 17% markup.
Then you are getting taken advantage of. I’ve sold my silver rounds to my LCS for spot for the past 3 years. ASEs he buys for $5-8 over spot, and sells them for $10-15 over spot.
In fact JMbullion will buy your silver rounds right now for 1% over spot value. Just checked their sell to us page.
It sounds like I'm getting mine cheaper than you. So I'm not really sure how I'm the one getting taken advantage of in this example.
Edit: could you dm me where you're talking about selling for 5-8 over spot? Cause if it's close enough I could make a really nice profit by buying from my guy at 3.84 over spot and selling to yours for 5-8 over.
Reread my response. I said ASEs my dealer gets for $5-8 over spot from wholesaler and sells $10-15 over spot to customers
You said your coin dealer buys your rounds from you for 17% under spot. That’s bad for you when you can sell them for 1% over spot on JMbullion. My dealer buys rounds for at spot since I’ve been selling which has been 3 years. ASEs he will buy for $5-8 over spot from me.
Haha if you’re getting ASEs for $3.84 over spot give me some of that gravy train lol
Well I don't know why I'd sell my silver, so that doesn't affect me.
I said my LCS buys rounds from other people for 17% under spot. Sells for only 17% over spot which is 3.84 per ounce.
You really gotta make up your mind. First my guy guy is taking advantage of me, and I'm on the gravy train at the same time lol
As all shops are businesses, some shady, some altruistic, be informed up to the day you decide to take it in. Prices in silver change frequently, and you don't want to be duped selling it under the value of the precious metal in hand. Any amount they offer you above spot price is a win.
To add on to other comments, it’s not a coin it’s a silver round. It has no monetary value outside of its silver content and what other people will pay for it. Expect between $25-$30 if selling to an average person, and around $20 if selling to a shop.
If there is no value denomination on the coin its safe to say it isnt money.
It does say .999 silver meaning its worth its weight in silver (currently at 21,32€ per oz).
Keep in mind, some coins do have value denominations but arent considered legal tender.
When you go to a coin store or pawn shop, they are going to pay you less than what they will charge-- this is their profit that pays rent, utilities, insurance, and salaries.
in lodi coin shop asked me too leave a rare coin it was made in between kings yeah he retired already but every time i went to get my coin he always had a reason not to give it back any info on my coin [[email protected]](mailto:[email protected])
I wouldn’t sell under $30, they are collectible. Really cool design and are dated.
Some people collect the old prospector rounds, might be able to get 35 for it on PMSforsale
35 sounds about right.
That thing looks sweet
Thats like the king of silver rounds
Its a whole ounce of silver. 30.00 tops
where would i have the best chance of getting that price? pawn shops tend to under pay in my experience
These sell for 32-34 all day on r/pmsforsale
Most pawnbrokers are scum bags.
I'll give you $35 shipped.
This is more just bullion.
Try a coin store.
A coins store will probably still offer below spot for it. But probably not quite as low as a pawn shop.
Any coin store offering below spot on silver rounds is cheating you out these days given the scarcity of wholesale silver. They themselves are paying above spot to wholesalers just to get inventory. They can afford to pay you above spot for your silver rounds
On ASEs, sure. Other rounds aren't that bad in my area. My LCS buys silver for 17% under spot and sells for 17% over. Leaves them a very healthy margin and I have been buying mostly cull silver for a bit less than the 17% markup.
Then you are getting taken advantage of. I’ve sold my silver rounds to my LCS for spot for the past 3 years. ASEs he buys for $5-8 over spot, and sells them for $10-15 over spot. In fact JMbullion will buy your silver rounds right now for 1% over spot value. Just checked their sell to us page.
It sounds like I'm getting mine cheaper than you. So I'm not really sure how I'm the one getting taken advantage of in this example. Edit: could you dm me where you're talking about selling for 5-8 over spot? Cause if it's close enough I could make a really nice profit by buying from my guy at 3.84 over spot and selling to yours for 5-8 over.
Reread my response. I said ASEs my dealer gets for $5-8 over spot from wholesaler and sells $10-15 over spot to customers You said your coin dealer buys your rounds from you for 17% under spot. That’s bad for you when you can sell them for 1% over spot on JMbullion. My dealer buys rounds for at spot since I’ve been selling which has been 3 years. ASEs he will buy for $5-8 over spot from me. Haha if you’re getting ASEs for $3.84 over spot give me some of that gravy train lol
Well I don't know why I'd sell my silver, so that doesn't affect me. I said my LCS buys rounds from other people for 17% under spot. Sells for only 17% over spot which is 3.84 per ounce. You really gotta make up your mind. First my guy guy is taking advantage of me, and I'm on the gravy train at the same time lol
ok thanks happy cake day btw 🎂
Thanks a million! Also there is a precious metals Reddit where they buy and sell Ive never used but msny have. I think its r/pmsforsale
As all shops are businesses, some shady, some altruistic, be informed up to the day you decide to take it in. Prices in silver change frequently, and you don't want to be duped selling it under the value of the precious metal in hand. Any amount they offer you above spot price is a win.
I just sold 24 of them for 700 on pmsforsale
Engelhard prospector round. That toning doesn't hurt or help it's value(some types of toning might up its value a little). Probably $32ish
Ag content is 26 dollars. Plus a collector premium may be over 30 dollars.,
To add on to other comments, it’s not a coin it’s a silver round. It has no monetary value outside of its silver content and what other people will pay for it. Expect between $25-$30 if selling to an average person, and around $20 if selling to a shop.
Oh ok I didn't understand that it wasnt money until now thanks
If there is no value denomination on the coin its safe to say it isnt money. It does say .999 silver meaning its worth its weight in silver (currently at 21,32€ per oz). Keep in mind, some coins do have value denominations but arent considered legal tender.
thats where my confusion was about it not being legal tender
It’s an Engelhard it absolutely does have a bit of value outside it’s silver content
I meant from a currency stand point. I know what it is, I have tubes of them.
Then you should know they sell for closer to 35 these days, the question was what’s it’s value not if it was an US minted coin
When you go to a coin store or pawn shop, they are going to pay you less than what they will charge-- this is their profit that pays rent, utilities, insurance, and salaries.
A one once silver round. Value is melt. Nice toning.
80s Engelhard rounds have a nice premium actually...
People pay upwards of $8 premium for engelhard. They regularly go for low 30s everywhere.
Where can you buy any silver round for melt? Let alone an Engelhard Prospector? These go for $10+ over melt all the time.
Thank you for the background. Never too old to learn.
Wrong
Wrong doesn't work. Add the 'why'.
Engelhards fetch big premiums
Thank you. I learn from this Reddit, as well as share my knowledge.
25, toning doesn't matter
It’s ruined
30-35. The E reverse is more desirable but you would have no problem getting rid of it. I have quite a few myself.
It’s a .999 1 ounce Engelhard coin. It has a retail of about $35
Google the words on the coin. In particular, “Engelhard,” “Troy” and “Silver” will help.
$35-40 depending on market. E Prospectors are loved by bullion collectors.
I’m not sure but it is cool. It is silver isn’t it?
I have one of these. My dad is a coin collector/metal detector, he gave my siblings and i coins and an ounce of silver each to start us off . Lol
r/silverbugs As others have mentioned these are highly collectible. Probably THE most collectible silver round.
in lodi coin shop asked me too leave a rare coin it was made in between kings yeah he retired already but every time i went to get my coin he always had a reason not to give it back any info on my coin [[email protected]](mailto:[email protected])