Calculating 90%
 

First off....Hello!.... been lurking for a bit and now a first time poster.

I've seen the online calculators used to calculate the coin melt value for 90% silver coins, however, could someone explain how the calculation is done with an actual calculator so I can determine my cost when in my local coin shop and away from the computer?

FWIW, I've learned the hard way that I need to learn to do these calculations "on the fly". I went to my local shop with a face amount I wished to purchase in dimes and used the online calculator to predetermine the price. Only problem was the shop didn't have the quantity of dimes I was seeking, so I purchased a mixture of dimes and quarters. After returning home to my computer I realized the shop overcharged me for my purchase. As of now, they've "attempted" to correct the matter, but I'm still waiting for it to show on my bank card.

Thanks!

Re: Calculating 90%
 

I use .7134oz per $1 face, pre 1964. That leaves some room for wear as .715oz should be in a mint state coin with no wear.

Good Luck
~Prag

Re: Calculating 90%
 

Right, so multiply the spot price (in FRNs) by .7134 before you head into the store and that price is how much you should pay (in FRNs) for each dollar/face of junk silver.

Re: Calculating 90%
 

Yep. Just memorize that number and bring a calculator w/you and you can do it here, there or anywhere. The dealer will want a small premium and 90% should bring the smallest premium. So, if .999 Rounds have the same spread from spot, that would be a better investment.
Savy?
~Prag

Re: Calculating 90%
 

Just to be clear, if I bought an odd number of quarters, say 33 quarters = $8.25 face value and spot is $17.00.

I would multiply 17.spot x .7134oz = 12.1278

and

12.1278 x $8.25 = $100.054frn ....correct?

Which brings a couple more questions...is spot the average sell price for 90% silver? And will the avg local shops scoff at the .7134oz adjusted for wear?

Thanks again!

Re: Calculating 90%
 

Oops, I must have been practicing the calculations as you were typing this. :D

Got it, Thanks

Re: Calculating 90%
 

The mint state $1 face has .723oz and dealers use .715 - .712 for wear.

Re: Calculating 90%
 

I know when selling back junk silver the dealers will pay less than spot. Does the average dealer normally add a premium over spot when selling junk coins or is it the norm to calculate the sale price from spot?

Thanks again!

Re: Calculating 90%
 

Not 17 x but 8.25 x .715 for the total silver content per dollar face value, not per coin.

Re: Calculating 90%
 

Depends on market conditions and the dealer. Look at some online dealers to get a feel for what is competative. I would name the one I use, but there name is already all over this forum.
~Prag

Re: Calculating 90%
 

Hello all, I am new here but have been lurking (just about every day) for approx. 3 years.
I know most of you already, figured it was time to sign up and contribute.
Here is a website I found that calculates U.S. Circulated Silver Coins prices:
http://www.coinflation.com/silver_coin_values.html
http://www.coinflation.com/

Re: Calculating 90%
 

Ok, I've seen another method of stating a sell price for 90%, an example, ...

"11.5 X Face"

At the time of typing this, the value would be slightly below spot. Is the "11.5" a dollar value? ie: eleven dollars and fifty cents.

Re: Calculating 90%
 

yeppa...
seems to be a good price, too.
My local dealer and big online dealer is asking like a buck over spot for their 90% lateley:shocked_ma:

Re: Calculating 90%
 

If you want an almost near EXACT price that is easy(sort of), just do
.7234(Exact spot price)(Face value in decimal)
For example to calculate a BU 1964 with no wear, you would do this:
.7234($16.38)(.25)=$2.962323
Coinflation's quote is $2.9622.

An even more exact example is a 1964 Roosevelt Dime.
.7234($16.38)(.10)=$1.1849292
Coinflation's quote is $1.1849, and I am almost dead on.
Just a helpful tidbit for those of you like me who NEED to be exact. It is also useful for large amounts of coinage, even if you only save a couple bucks.(or in this case over 100!)
For example, $1000 of 90% is...
.7234($16.38)(1000)=$11849.292.
Coinflation's quote is $11849.16.
The previous way to do it by multiplying .7134 by spot price would give...
.7134($16.38)=$11.685492
$11.685492(1000)=$11685.492.
That is a difference of $163.67, while the one I use is only off $0.13.
Hope this helps someone! By the way, this only works with 90%.
:D

Re: Calculating 90%
 

Oh Im anal..uhh..concerned for accuracy enough to use your formula. :D

Thanks!

Re: Calculating 90%
 

If you go with 0.715 ounces per $1 face, you should be safe as that is the standard used by alot of bullion dealers. Some will calculate at somewhere around 0.718-0.720 ounces per $1 face for bags of half dollars as they were not as widely circulated.

Re: Calculating 90%
 

Pragmatist,

Where do you get .7134??? Uncerc. is 7.23 but average wear brings us to 7.15

Just curious as everything I have ever read uses .715

That said, on a $1,000 face bag, your .7134 yields 713.4 Oz and what I use yields 715 Oz