Silver Dragons Dude‼️ Seriously, honest best guess... Where do you see spot for silver going in the next year... I just can’t decide if buying some junk now is worth the money I’ve saved... Help...‼️
Honestly this was an amazingly helpful guide, I'm a new investor (in pretty much all things!) First 2 ounces of silver I bought was in bars and cost me $31 per ounce. Now I know how to lower my dollar cost average and make lemonade out these lemons!
truth is within there’s been a slow and steady decline of silver that’s been brought up to the surface. COVID exasperated that shortage and that’s what’s caused the price hike.
Definitely helpful advice that I needed. I’ve often questioned my purchases after leaving a store if I overpaid or got a fair deal. Appreciate the GUIDE!!!😃
Thanks - I made a google sheet I can access on my phone with 2 inputs (Total Price-TP and face value-FV) and an output (TP / FV / 0.715). This eliminates the slight rounding issue of using the rule of thumb at 1.40. It really opened my eyes to how big the premiums on junk is today (Oct 2022).
Easy. Just buy at face values in base 10. Then you'd just need to remember to divide total cost by the number 715 . Just move deci around for the base 10 you bought. $1 face divide .715 $10 face divide 7.15 $100 face divide 71.5
Dude- i noticed that guitar pick amongst ur stack. THAT’S EXACTLY WHAT IS HAPPENING ON MY DRESSER RIGHT NOW!!! Every week i buy silver at my LCS and stack it on my dresser for a few til i get out the vault and sort it into the prospective place. But the pick always stays…rock on, bro…
This has helped me realize that most of the "junk silver" being sold by most vendors is priced at least double it's true value. Thank you for explaining this to us Silver Dragons
Thanks sooo much for posting this! Finally an in-depth video on RU-vid about buying junk silver. This is really going to help me with my junk silver purchases!
The face value multiplier is extremely useful, I wish I knew this when I was more newbie, still a newbie here in youtube though. You have a new subscriber, Venezuelan stacker will show more love to you from now. Thanks for sharing.
Gotta say thank you so much for this video! I just picked up some junk silver from a private seller that worked out to $19.04/oz after using your calculations. Spot as I type this is $22.64. Thanks, dude!
Yeah i recently paid the most i ever had for a roll of dimes, but i solely consider it a S hit the fan barter item so im not looking at it in the terms of resale.
Been binging on these old videos the past couple of days. I learned a lot. This was particularly informative, even though the spot price of silver throws your buy point off. I also liked your Gold / Silver ratio explanation. I knew what it was, but you explained how to put it into practice, same with this video.
Thank you for your video. Im a disabled veteran and don't have much income to buy silver (witch I love alot) with and your advice on the junk silver from SD is useful. Im gonna start buying $5 face dimes a month now. Thank you
@@thecoinguy007 not anymore, even with the shipping and handling its still cheaper from SD than here local. The shops here in my area are changing a premium on it to make extra money because they know the demand is high right now. I went to all the local shops last month to check out their prices on the same coins I get from SD and they cost more because they say it's the convenient cost witch is bs
Thanks for the guide Dragons! Just a heads up for newer stackers, as Dragons stated the junk is only the halves, quarters and dimes. The chart doesn’t apply for Morgans or Peace dollars as they contain more silver than the “junk” silver coins. Of course, if someone is selling Morgans or Peace dollars at 12x - 14x face then jump on that!
I’ve seen plenty of videos about junk silver and this is the best I’ve seen. Print out of pricing was a nice touch. Keep up the great informative videos!👍👍
Usually, my dealer will have the same price on both BU and circulated junk Silver, so I always go with the BU. But to get junk prices for BU coins, they have to be no older than Benjis, Roosevelts, or Washingtons. He'll also some times throw in the common commemorative coins.
Problem with dimes is 1) they take a long time to count, 2) if FDR, they take time to authenticate by date or by looking at edge to make sure they are before 1965. 3) they are very easy to spill on the floor. The advantage of dimes is that if currency collapses & you have to use they to buy with (barter), they are small enough in value that the issue of "How does the seller give me change?" may not come up.
this explains a lot for me. A thousand ounce bag of constitutional silver equals 715 ounces. It's not 1000 ounces and that's the trick. It's deceiving. The face value of a dollar is very different than the one ounce. As of today 5/14/23 the price per ounce on SD is 36.27 an ounce. Ouch. Now that I understand I just went online to see what the junk silver is going for. I can get 1 oz. rounds for less than that. Even the maple leaf is cheaper. This just saved me a pile of money and I appreciate it. I have junk silver from years ago. I'll keep that since it seems to be worth more than new minted silver.
I know this is a pretty old video but it's still true to this day. Except silver us more and people are paying high premiums. I love the Mercury dimes. But like I said people are paying thr high premiums. Anyway good video and great advice. I enjoy your videos because you talk slow and you make it so interesting fir beginners. So keep it up and keep on searching for what you 👍 like
I'm still new... but if I want to have silver vs having the money in the bank, does buying 90% Silver Coins - $50 Face Value Bag good? I got it for $930. I'm still so lost, it's like there's a ton of information but I haven't found a video of what I need it. I thought I was stacking but my fear is the dollar losing its value so I want to start collecting silver and even if nothing bad happens I have that security there for me or my kids.
Hi just hit scribe to your channel because you showed us how to pay correctly for junk coin and I to love silver dimes to know I will feel confident to pay a fair price by using your chart you provided I’m new to silver stacking so I appreciate all the help I can get Thank You 👍
I got screwed on my first sale of junk silver. I was basically forced to toss it in for free with the private, public and foreign silver coins I had that were pure silver. Where is the best place to unload junk silver if I have to sell it short of the apocalypse? Have you done a video, Silver Dragons, on that subject? Or could you possibly do one when you have time? Selling pure silver to a store is quick and I at least get market back with a little small talk, but if I am collecting and investing in junk silver at all I want to be able to get at least market on a sale, if not get my premium for the private middle. Thanks in advance! I love your videos. You are a lot more honest and a lot less hype about the business and your opinions of it, than a lot of the guys who are pushing their sales here.
I enjoyed your video Silver Dragons! Even though buying junk silver is the cheapest way to go, I'd be afraid of someone selling a bunch of slick coins that I call slugs and reducing the weight of the coins!
This is an EXCELLENT video and well detailed for junk silver. The only thing I would add if you ever do an update to this video is what the current spot price is of silver while making the video because youtube only shows "4 years ago". Spot for silver in 2020 was anywhere from $11.68/ounce to $29.91 per pounce. My assumption is spot was around $18/once while making the video, as you mentioned the most you would pay is around $20/ounce or 14.3X, but no way to know as it is not mentioned.
Silver Dragons Thats a good chart to figure silver price . I take .715 X Spot price = Melt Value for $1.00 of silver . Spot price $15.33 X .715 =$10.96 . Just saying this is the way I do it .
No no no .767 I believe is what the book says. And even if you are buying in bulk, 90% is going to go up because there is only so much of it. Suprising why some people call it "junk silver" when there is big premiums on it. No one wants to play by the rules and make up their own. You cant pay melt for this stuff much less .715 the real figure is .767 you guys are making up your own figures
This video has been extremely helpful in understanding junk silver. However, I'm wondering if you might have a more updated or current numbers/guide being this was a couple years ago....I guess what i'm asking is would this apply to today's prices? Sorry, still new at this. Either way, thanks for the great videos! ✌️
Thanks for the advice!! I bought my first 10 $ in silver dimes and quarters today , and I’m a keep stacking.hope my wife or daughter’s take it to coin star at the grocery store ,I better hide it thank you
Great video as always, however please frame printed guides like that so the entire thing is flatish, equidistant and in frame at the same time, especially when you tell us to take a screenshot. Keep up the good work.
Junk silver is coins with more silver value than numismatic value. So the older the date the worse the condition. Uncirculated coins are not considered junk silver. The coun dealer I did business with for 3 decades always said $1.50 face value equals one troy ounce.
Thanks for the multiplier chart. Very useful! I notice that 1X = $1.40 per OZ If a LCS is charging 14X while another LCS is charging 14.5x then the second shop s charging 70 cents more per OZ. Easy to compare cost per OZ.
i bought a roll of 1958-64 proof gem dimes for 90$ Dimes are BEAUTIFL and flawless... only one on ebay i saw at this price 1.8$ a dime aint bad for damn near mint dimes
Great reference, any new stacker should check your videos they are jam packed with info newbies need to know before they start. Keep up the great work.
It is ultimately better to look at your junk silver value in terms of what it will be worth on the day after the collapse of the dollar. On that day junk silver will be worth approximately $800 per ounce in trade value. With that in mind one single dime will be worth $58 in trade value that puts a whole different perspective on what you should be willing to pay for junk silver now. The reason being the dollar may collapse at any time now. it could collapse today. So is $20 an ounce too much or $30 or $40 an ounce too much to pay? when rolls of dimes and quarters are not available how much will they be worth then? And here is the real kicker, after 30 days silver will be worth three times the value of gold, which at that time should be worth around $10,000 per ounce for gold. That will make silver around $30,000 per ounce in trade value. Just to put things in perspective that means a good double handful of junk silver rolls will be enough to buy a 4 and 1/2 million dollar Honda jet elite with wing tanks. Or a three or four hundred acre ranch with several houses and out buildings on it, totally fenced with electric produced on site. I guess it all depends on whether you look beyond your own nose or can see down the road for a ways. The Bible says thy word is a lamp unto my feet, and a light unto my path.
I'm watching this in March 2023. The going rate now for circulated junk silver from SD is a ridiculous $12/ozt over spot and $15 over spot from Money Metals. 🤦♂ Panic, I guess.
What's crazy is 2 yrs later silver spot price is nearly the same but 100 face value from SD bullion is 1000$ more then it was then. Paying well over 35 my mind is blown away as everyone is clueless 😅
I can get a $10 face mix of merc’s and roosevelt’s for $138 right now from my local coin shop. I feel like that’s pretty good considering how everyone is talking about how they can’t get any for a fair price right now.