How much are 1 oz .999 Fine Silver coins worth these days?
September 7, 2008 | silver coins
I've got maybe 40, some collectibles, some not. All are 1 oz .9999 fine silver. What's a non-collectible silver coin go for these days?
The current silver spot rate is ~$16.61.
So your one ounce coins are worth about that, whereas any 'junk silver' you might own (pre-1965 dimes, quarters, etc) will trade at a little less than 12 times face value.
Edit: If you are looking for a buyer, I will take them off your hands, that way we avoid all of the transaction costs.
But I have to admit that if I were you, I would hold them for the long term. My opinion is that silver will at some point be trading for at least $100/oz.
6 Responses to “How much are 1 oz .999 Fine Silver coins worth these days?”
In past month, you could sell a silver coin itself, normally 12 to 16 times face value.
If you sell it to a dealer, or middle person, they give only 60 to 75% of that, so 11 to 12 times face value.
A silver 50 cent piece may bring you about $6.00 at a dealer, whereas a private person may give you $7.50 to $8.00.
Silver bullion on May 28th was priced at:
$17.41 per troy oz.
References :
By Dave W on May 29, 2008
The current silver spot rate is ~$16.61.
So your one ounce coins are worth about that, whereas any 'junk silver' you might own (pre-1965 dimes, quarters, etc) will trade at a little less than 12 times face value.
Edit: If you are looking for a buyer, I will take them off your hands, that way we avoid all of the transaction costs.
But I have to admit that if I were you, I would hold them for the long term. My opinion is that silver will at some point be trading for at least $100/oz.
References :
By Time to Shrug, Atlas on May 29, 2008
Just for reference on today's Silver market price, try: KITCO
http://www.kitco.com/charts/livesilver.html
References :
By fred p on May 29, 2008
To add to the mix:
There are 1 oz. silver *coins*: bullion coins issued by various governments. These include the Mexican Onza (the original), American Silver Eagle, Canadian Maple Leaf, and so on. They may either bear no denomination, or a denomination ($1, $5, etc.) which has no relation to their current silver value.
Then there are 1 oz. "silver rounds." These are coin-like, but are issued by private mints and aren't, strictly speaking, coins:
http://en.wikipedia.org/wiki/Silver_as_an_investment#Rounds
Some silver rounds - and their cousins, silver bars - are collectible and fetch a premium over their silver content. Many, however, are common, and sell for just their silver value, which you can find at:
http://www.kitcosilver.com
(also mentioned in another answer here)
http://www.thebulliondesk.com/
Finally, on eBay, these typically are sold in this category:
Coins & Paper Money > Bullion > Silver > Bars, Rounds
http://coins.search.ebay.com/silver_Bars-Rounds_W0QQcatrefZC12QQfsooZ1QQfsopZ1QQsacatZ39489
Although they sometimes show up in other categories, as part of mixed lots, etc.
References :
By Aron R on May 29, 2008
The spot price is $16.72
But that's not the price you can buy silver for, nor sell it for.
Let me explain.
The prices you see in the paper are the prices for purchasing silver futures.
One must take delivery on a certain quantity of metal by a certain date in order to get it at that price.
The average man on the street pays 10% over spot for an ounce of silver shot (casting grain.) A jeweler pays 5% over spot from a supplier.
Some silver coins have value on top of the silver, but most US silver coins are only .900 (90%) silver so one must take that into account.
Also, a refinery is forbidden by law from melting down US coins unless the pictures/words on the coins are illegible.
I'm a jeweler. I buy scrap silver. But I don't pay spot prices for it. I will only buy US coins if they are illegible because I want to send the silver to a refiner and get back .999 silver to alloy and make jewelry out of. Your .9999 silver coins are another matter entirely. They are not "money" coins, but rather commemoratives.
I'll be happy to make you an offer offlist for them.
And just to be clear, I'm not buying someone else's labor. I only buy metal. It's like if you go and buy a new Jaguar and pay, oh I don't know what they cost, maybe $40,000? Anyway, buy a new one, drive it off the lot and go to a junk yard. Ask what they'll pay for your Jag. There's probably $300-$400 worth of steel in that car…
References :
By Doc on May 29, 2008
You need to call a coin dealer to get the value, for the price of silver goes up and down daily. It also depends on what you have. A silver round which is one troy oz. of .999 silver is not a coin but a medal, so is valued less than say an American Silver Eagle or Canadian Maple Leaf. By the time you read this silver will already have either gone up or down some. Make the phone call.
References :
48 years a numismatist, Coin World & Numismatic News.
By Taiping on May 30, 2008