Great video SJ! If I may...the numbers in the video are for BU quality coins (no wear) which are rarely purchased as "normal" junk silver (BU coins usually have a nice premium). The standard number used for coins with wear is .715. So take your face value dollar amount and multiply by .715 for the amount of silver . For example, $5 face is 3.575 oz of silver. Multiply that by spot price to see what you would be paying if you are paying spot. $64.35 in this example.
You explained that very well. Helpful video friend. I always used .715 x spot for FV on 90% except dollars. I always assumed the ever so slightly less number was a general account for circulation wear on junk silver. Just got a tube of walkers from coinexchange on eBay. With eBay bucks it came out under spot. And they didn’t add tax.
@@TheTreasureSeeker01 I like them because of there historical significance as well. To think what was going on in those years and the hands they went thro.
I have been trying to figure out this exact math for the last month and had about a dozen formulas I came up with myself and none of them would work across the board. Quart formula worked for quarters but not dimes, etc… It was a mess. Your breakdown of the math was exactly what I have been searching for! Thank you for taking the time to make this video
Hey silver joker hope all is well merry Christmas and happy new year my friend all the best for 2020. Great video as usual. Glad to see a new video as well👍
This video has been very helpful to me. It was the intro of how you broke down each denomination's silver weight and demonstrated that any combination of $1 Face = 0.723 Toz that helped me to understand things. Thanks a bunch for this informative video!
Went to my first coin show today. All Constitutional silver at melt no premium, morgans for $18 in very good condition. Buffalo rounds for $18. They have it every month, I will be saving my money weekly and that will be my LCS for sure.🤗💯
I have been stacking for almost 2 years now. I only buy eagles I have been wanting to get into junk silver thanks for the explanation. your video has been the best info on how to calculate it. Thanks.
I stopped buying junk silver by the dollar value, unless it is newer, My point is it should be sold by the ounce, kilo, pound, or whatever the weight is. I've gotten quarters that were short a full gram per coin from the wear and tear, and it still has refining costs! Everyone should have some, but I use the term loosely, and just for that emergency! Even collectibles will be melted in a shortage, and bullion will have a premium, if you can buy it with the currency of the month!
I find that waaaayyyy too complicated. So I just go in knowing the current spot price and the approximate value of each coin at melt. Plus, I have committed the actual silver weight of all individual 90% coins to memory.
i often wanted to know the right formula to calculate as i just traded some contentutional(clad)90% silver for gold worked out well i enjoyed this show silver joker hope u had a decent holidays as u say we keep stacking :)
pseudoty I too use Coinflation to know the melt value then I cherry pick the nicest coins I’m searching for the least amount of wear. Some dealers like to use face multipliers like 12x face when selling and I will compare their price with the melt price on Coinflation. Sometimes you can get it a few cents cheaper per ounce this way.
I use Coinflation as well. I have two LCS's in my area, one is completely ruled out simply based on their 90% silver prices, which are always more than the preferred LCS. Plus he just isn't as nice as the other place I go to now. I go into the LCS knowing what the coinflation price is so I know around what about the LCS should be close to. Morgan's and Peace Dollars are always separated based on numismatic value...wear, date minted. I do not buy my Eagles from this LCS though, they are just slightly more than getting them off the online dealers.
Loved your video and easy going explanation on how to determine the price of junk silver, plus how to interact with the coin dealer, and a few other pieces of friendly advice. You speak in a very likeable manner. Thank you so much.
Good info , also if buying a large amount of junk silver you might want to consider the amount of ware on coins because the weight of coins that you gave are with no ware for each denomination so one thousand dollars face with a lot of ware might not weigh that much
Another Excellent Video...I just had examples of all that you spoke of...My Coin shop will not negotiate and for now I was alright with that...I did learn that I paid 13.00 for 90% Face...and 5.40 for 4% face...Also, My shop would not let me pick out my coins...He also stated he would buy 90% for 12.00...Again I like your easy to understand method and I will be using that in the future...I will be selling my more premium collections to re-buy and stack silver...I will be using your method in my calculations.
Thanx for the lesson..alotta people chime in with quick advice and lingo that most like me that are new dont understand..You take the time to put out a video and literally break it dwn step by step and for that..I appreciate you..Happy Holidays to you and yours..and Thank You once more..Peace 👊😎✌
Thanks for the info! You explained the face value ratio very clearly. I've never sold any of my junk silver so I don't have experience figuring out weights
Love the channel Silver Joker! Just over the state line in PA here. So similar prices but we don’t get taxed on silver that WAS or IS for circulation. So Junk Silver is tax free here but just like you bars or bullion coins are. Typically dealers around here always go for .715 ounces per face value of a dollar because of typical wear. Have you found that in Ohio or is it closer to the original minting value of .723?
Another great informational video Joker. Always look forward to your notifications of a new video. Just wanted to let you know that you’re appreciated throughout the silver community for your excellent content. Always entertaining. Looking forward to what the new year will bring for all us. Thanks.
Love me some Walking Liberties, but I'm a sucker for Morgans and Peace dollars, lol. I usually bid on several at once and set a limit, but I've probably overpaid for a few of them especially if they are AU or BU.
Hello Joker. Thank you for the video. Good food for thought for some. I'm not a fan of constitutional and don't stack it. I made a video outlining ten reasons why I don't stack constitutional silver. Haven't seen very many videos on youtube like mine. Most stackers love consitutional, so would love to hear your thoughts if you have time. Happy holidays and take care!
I have a spreadsheet for this for when I was buying off eBay. I’d just plug in the quantity of each coin and it would tell me the value and how much over spot the seller was asking. Then I’d decide whether it was fair or not.
I try and buy $10 face at a time. I can compare LCS to APMEX $10 face. And then also the spot price like you showed. If it is lower than APMEX it is ok if it is over spot - for me.
New viewer here. Great videos, glad too see a new one. Bought my first Peace dollars at my LCS for 15 to 16 each. Building a good relationship with my LCS has gotten me better deals, and they know what I'm looking for. Sadly, they don't have the selection that your LCS's have.
Yeah, once you know the value based on spot price, you're in a better position to bargain with the dealers who are willing to be flexable on their 90% silver. Thanks for watching. Keep stacking my friend
Thank you for taking the time out to teach others about how to calculate FV. I had no idea. Now I have more knowledge and confidence when it comes to purchasing. Thanks again and like you say, “Keep Stacking”! Happy New Year!😃🎉🎊
Silver Joker great video my friend I'm glad you did a video on that Because I've been wondering what is what is what how to sell And What to buy I've been a subscriber of yours for about 4 Years when you started out ..I think you had about 100 or so subscribers Stay great my friend and keep stacking...
Hey Joker. Merry Christmas and a very Happy Stacky New Year. Hope you and yours are looking forward to an exciting new year in precious metals investing. Should be exciting times.
I went to a local LCS today and brought 73 90% quarters for $255.50 (roughly $20 over spot) all are at least in VF condition. Im interested in hearing your thoughts on my purchase. Thank you
Happy New Year Joker . I try to get Sterling 925 silver at spot in Britain. Especially in tableware and decorative wares . As they also have added value for what they are if I wish to resell at a future higher spot price.
Someone said the house voted to eliminate all silver less than.999 as transaction currency .don't know if there's any truth.been buying UNC 1/2 at junk .as there still half dollars coin dealer not needed and treasury coin not fed.🤗 Later have numismatic value maybe.?
i go to my dealer and say, hey ill buy 5 eagles if you give me a deal on quarters, and he sells them to me for spot price, and i was going to buy the eagles anyway, he is a good guy, but the point is , ask for spot on quaters and dimes you might get it, doesnt work for silver dollars though , cant get a deal for morgans or peace, but he is glad to unload his quaters and dimes cheap, and yes i do get him to weigh them.
I believe so John. This will give you an accurate dollar value per dollar face of 90% silver. Please see the link in the description. Thanks for watching. Keep stacking
1 oz in silver in junk (90%) is not going to sell as high price as 1 oz of 999 or 9999 silver so you should not pay too much for those 90% silver coins. I only get junk silver (925, 900, 813, 800 etc) if I can get them at least 20-30% below spot, otherwise it feels like it's not really worth to get, unless it's something special that has more value than the silver itself.
I always thought that spot price was only for purity of .999 fine and junk silver (sold for less) must be refined before it can be used as .999 is used now such as in electronics or jewelry . Therefore junk should goes for less than spot - no ? If not why?
90% silver is exactly what it says it is. Because it's not a full ounce of silver it's not bought at spot price. Unless you have enough silver coins by weight to equal an ounce, $1.40 in "junk" silver coins, it will sell under spot price. Constitutional silver is refined before it's used in industry. I hope that answered you question JustDanO. Thanks for watching. Keep stacking
Great video SJ! If I may...the numbers in the video are for BU quality coins (no wear) which are rarely purchased as "normal" junk silver (BU coins usually have a nice premium). The standard number used for coins with wear is .715. So take your face value dollar amount and multiply by .715 for the amount of silver . For example, $5 face is 3.575 oz of silver. Multiply that by spot price to see what you would be paying if you are paying spot. $64.35 in this example.
Silver stackers tend to be genuinely good people and I appreciate all of you for making the world suck less.
Ain’t it the truth! 👌
You explained that very well. Helpful video friend. I always used .715 x spot for FV on 90% except dollars. I always assumed the ever so slightly less number was a general account for circulation wear on junk silver. Just got a tube of walkers from coinexchange on eBay. With eBay bucks it came out under spot. And they didn’t add tax.
Man that was a good pickup. I live for deals like that. Thanks for watching. Keep stacking
Great job Maynard! I like to buy from them also. Unfortunately they have started charging sales tax to ship to Maine. I havent bought since.
I liked this video and subscribed to your channel because I love silver and like being a silver stacker !!!
Nice to see you back, I always just do $1.40 is a oz and I just go by that
Same here signed Brother from another mother
I second that! Signed, a Sister from another Mister! 🤣🤣🤣🤣
Yo this dude has some of the best thumbnails. 90% silver is my favorite. Great video👍
MARK DEGRACE is it your belief that old US silver coins are better in the way that people recognize them? That is how I have always seen it.
@@TheTreasureSeeker01 I like them because of there historical significance as well. To think what was going on in those years and the hands they went thro.
MARK DEGRACE very true!
Glad you are back from your short hiatus .I missed you my friend,Happy new Year.
I'm to understand that 0.723 is for uncirculated coins (BU), 0.715 is for circulated (Anything else).
I have been trying to figure out this exact math for the last month and had about a dozen formulas I came up with myself and none of them would work across the board. Quart formula worked for quarters but not dimes, etc…
It was a mess. Your breakdown of the math was exactly what I have been searching for! Thank you for taking the time to make this video
Hey silver joker hope all is well merry Christmas and happy new year my friend all the best for 2020. Great video as usual. Glad to see a new video as well👍
It takes $1.40 of face to equal 1 oz of silver
Jep about 3 1964 halfs for an Eagle..
@@ag474 😲😲😲
@@joeyboedeker7205
The premium
That's what I use. It is independent of spot price!
@@joesedlak2420 Depends on how slick the coins are. Wgt of all $1.40 coins isn't the same.
This video has been very helpful to me. It was the intro of how you broke down each denomination's silver weight and demonstrated that any combination of $1 Face = 0.723 Toz that helped me to understand things. Thanks a bunch for this informative video!
Went to my first coin show today. All Constitutional silver at melt no premium, morgans for $18 in very good condition. Buffalo rounds for $18. They have it every month, I will be saving my money weekly and that will be my LCS for sure.🤗💯
Decent price, and your smart to save, 2020 could be last chance, I'm selling anything I don't use, and cinvert to silver
i always used the fact that $1.40 in face is about equal to 1 oz. it is very close.
I have been trying to wrap my head around the junk coin idea. This really puts it into perspective. Keep it real.
Another good one Silver Joker! I use this same concept to calculate the premium I am getting hit with. It works great on the fly!! Thanks for sharing
I have been stacking for almost 2 years now. I only buy eagles I have been wanting to get into junk silver thanks for the explanation. your video has been the best info on how to calculate it.
Thanks.
Thank you for saying so my friend. 90% silver will make a great addition to your stack. Keep stacking
I stopped buying junk silver by the dollar value, unless it is newer, My point is it should be sold by the ounce, kilo, pound, or whatever the weight is. I've gotten quarters that were short a full gram per coin from the wear and tear, and it still has refining costs! Everyone should have some, but I use the term loosely, and just for that emergency! Even collectibles will be melted in a shortage, and bullion will have a premium, if you can buy it with the currency of the month!
This was by far the BEST guide to pricing constitutional silver I've come across, I saved this as a future resource. Thanks Silver Joker!!!
I find that waaaayyyy too complicated. So I just go in knowing the current spot price and the approximate value of each coin at melt. Plus, I have committed the actual silver weight of all individual 90% coins to memory.
i often wanted to know the right formula to calculate as i just traded some contentutional(clad)90% silver for gold worked out well i enjoyed this show silver joker hope u had a decent holidays as u say we keep stacking :)
I just use the “Coinflation” app it not only has 90% but 40% and war nickels
pseudoty I too use Coinflation to know the melt value then I cherry pick the nicest coins I’m searching for the least amount of wear. Some dealers like to use face multipliers like 12x face when selling and I will compare their price with the melt price on Coinflation. Sometimes you can get it a few cents cheaper per ounce this way.
War nickels are 35% silver. You may be thinking of Kennedy Half Dollars minted 1965-1970, they are 40% silver.
I use Coinflation as well. I have two LCS's in my area, one is completely ruled out simply based on their 90% silver prices, which are always more than the preferred LCS. Plus he just isn't as nice as the other place I go to now. I go into the LCS knowing what the coinflation price is so I know around what about the LCS should be close to. Morgan's and Peace Dollars are always separated based on numismatic value...wear, date minted. I do not buy my Eagles from this LCS though, they are just slightly more than getting them off the online dealers.
Thats the one i use
@@TheRetiredVeteran read what he said more carefully
great video as usual joker.had not seen any new videos for awhile and was a little concerned. well done. keep stacking.
Great breakdown for true understanding of the value of silver in dollars.
Don't forget that for junk silver it is an industry standard that it weighs 0.715/dollar face to account for wear when trading large amounts.
Loved your video and easy going explanation on how to determine the price of junk silver, plus how to interact with the coin dealer, and a few other pieces of friendly advice. You speak in a very likeable manner. Thank you so much.
The man is back. Hope you had a great Christmas. Thanks for the post.
My local coin shop always has 90% and this was very helpful in figuring out how to reconcile 90% with the more familiar spot price.
This is the best way I've heard the information explained. Keep up the good work!
You got it my friend. Keep stacking
Picked up two 1921 Morgan silver dollars in an estate sale today. Not gonna lie, I was nerding out pretty hard. ❤ One ounce at a time until its done.
Good info , also if buying a large amount of junk silver you might want to consider the amount of ware on coins because the weight of coins that you gave are with no ware for each denomination so one thousand dollars face with a lot of ware might not weigh that much
Good job I needed this, I’m a beginner, so this go’s a long way for me trying to understanding this market.
This is how I determine how much I'm willing to sell my silver for...How much do you have? That's not enough!
Good think about buying junk silver in bulk. You might get the odd key date or higher grade coin that well exceeds the silver value.
Another Excellent Video...I just had examples of all that you spoke of...My Coin shop will not negotiate and for now I was alright with that...I did learn that I paid 13.00 for 90% Face...and 5.40 for 4% face...Also, My shop would not let me pick out my coins...He also stated he would buy 90% for 12.00...Again I like your easy to understand method and I will be using that in the future...I will be selling my more premium collections to re-buy and stack silver...I will be using your method in my calculations.
Thanks for watching John. Check out the link in the description for a bit more detail. Keep stacking my friend
GOOD TO HEAR YOU BACK SILVER JOKER BEEN A WHILE. SIGNED BROTHER FROM ANOTHER MOTHER.
What's up my Brother?😎
@@SilverJoker PEACE AND GOOD WILL TO ALL THE STACKERS OF THE WORLD AND WHO KNOWS BEYOND.
Thanx for the lesson..alotta people chime in with quick advice and lingo that most like me that are new dont understand..You take the time to put out a video and literally break it dwn step by step and for that..I appreciate you..Happy Holidays to you and yours..and Thank You once more..Peace 👊😎✌
Thank you YorBoy RoyBoy. I wish you the happiest and most prosperous new year. Keep stacking
Thanks for the info! You explained the face value ratio very clearly. I've never sold any of my junk silver so I don't have experience figuring out weights
Been patiently waiting for your next video, I hope you had a nice holiday. Very informative video, glad you are helping to educate people.👍
Thanks for the tips. I took a screenshot of your little number chart there. It will come in handy.
Glad it was useful my friend. Thanks for watching. Keep stacking
Thank you for this. I'm new to stacking and this really made calculating prices extremely easy. Bless you and thank you, again.
Hope that I can keep finding these in bank rolls. Constitutional silver for .50c each? Yes sir when ever I can.
Love the channel Silver Joker! Just over the state line in PA here. So similar prices but we don’t get taxed on silver that WAS or IS for circulation. So Junk Silver is tax free here but just like you bars or bullion coins are. Typically dealers around here always go for .715 ounces per face value of a dollar because of typical wear. Have you found that in Ohio or is it closer to the original minting value of .723?
When the dollar collapses, ANY spare change will ALWAYS be worth far more than ANY paper bills.
Thanks for sharing SJ, just got a few Franklins myself last week for the 1st time. Hope your enjoying the holidays
Good info. I have always been fuzzy on the calculations and pricing. I appreciate the lesson.☺️👩🦳🏵
hi Lady Bullion
Glad you’re back. Hope you had an awesome Christmas Joker!
Never seen it broken down like this. Thanks!
Another great informational video Joker. Always look forward to your notifications of a new video. Just wanted to let you know that you’re appreciated throughout the silver community for your excellent content. Always entertaining. Looking forward to what the new year will bring for all us. Thanks.
Love me some Walking Liberties, but I'm a sucker for Morgans and Peace dollars, lol. I usually bid on several at once and set a limit, but I've probably overpaid for a few of them especially if they are AU or BU.
Thank you for explaining the math, the community needs this information. Sharing this to my Facebook group Stackers of TH-cam.
Hello Joker. Thank you for the video. Good food for thought for some. I'm not a fan of constitutional and don't stack it. I made a video outlining ten reasons why I don't stack constitutional silver. Haven't seen very many videos on youtube like mine. Most stackers love consitutional, so would love to hear your thoughts if you have time. Happy holidays and take care!
I have a spreadsheet for this for when I was buying off eBay. I’d just plug in the quantity of each coin and it would tell me the value and how much over spot the seller was asking. Then I’d decide whether it was fair or not.
I try and buy $10 face at a time. I can compare LCS to APMEX $10 face. And then also the spot price like you showed. If it is lower than APMEX it is ok if it is over spot - for me.
I love your content. So educational, informative, and very easy to watch and listen to.
Thank you Kevin. Keep stacking my friend
I sold all my junk for Christmas! Starting again. Happy New year's my friend.
New viewer here. Great videos, glad too see a new one. Bought my first Peace dollars at my LCS for 15 to 16 each. Building a good relationship with my LCS has gotten me better deals, and they know what I'm looking for. Sadly, they don't have the selection that your LCS's have.
Good advice, I've had ridiculous attitudes from them and refuse to budge at all when I'm willing to negotiate
Yeah, once you know the value based on spot price, you're in a better position to bargain with the dealers who are willing to be flexable on their 90% silver.
Thanks for watching. Keep stacking my friend
I have never seen it broken down like that, thanks man.
Thank you for taking the time out to teach others about how to calculate FV. I had no idea. Now I have more knowledge and confidence when it comes to purchasing. Thanks again and like you say, “Keep Stacking”! Happy New Year!😃🎉🎊
New subscriber here.
I admire your honesty and straight talk. 👍
Hey Philip thanks for the subb and for watching my video. Keep stacking my friend
Excellent information!!! And In one of the comments using .715 junk and using .723 for bu…. Bob
Its actually .715 per dollar face.
.715 × $18 = $12.87 Exactly 1% less.
Thanks Joker, I hope you and yours had a great holiday! Keep the videos coming.
Great video. I haven't gotten into junk silver as much.
What are you waiting for?! Lol Thanks for watching. Keep stacking my friend
I learned a lot from your presentation. Thank you.
Silver Joker great video my friend I'm glad you did a video on that Because I've been wondering what is what is what how to sell And What to buy I've been a subscriber of yours for about 4 Years when you started out ..I think you had about 100 or so subscribers Stay great my friend and keep stacking...
Silver joker always know what he is talking about!! Love your vids man! Keep on stacking!!!
Hey Joker. Merry Christmas and a very Happy Stacky New Year. Hope you and yours are looking forward to an exciting new year in precious metals investing. Should be exciting times.
Thanks for the breakdown, I screenshot for future purchases, pawnshops don't explain it , and this is a good bargaining tool
Glad you are back! Keep on keeping on. I enjoy your vids.
Nice video SJ, happy New year and keep on Stacking my friend
The companies selling junk silver use .715 per dollar face
Love all the info I get by watching your vids!!
Have a GREAT Day and Very Happy New Year!!!
Thank you Shane. And to you and yours as well
Enjoy all your videos! Keep em coming!
Great info thank you sir. I enjoy your videos keep them rollin
You got it my friend. Keep stacking
@@SilverJoker always sir
1 dollar face is basically the same weight for any denomination except for the silver dollar.
Great theme music man, I like it. Awesome content too man. thanks.
Thank you for watching. Keep stacking
Awesome information thanks.
I went to a local LCS today and brought 73 90% quarters for $255.50 (roughly $20 over spot) all are at least in VF condition. Im interested in hearing your thoughts on my purchase. Thank you
Nice video sir I enjoyed your conversion chart and found it very helpful!!! also have enjoyed all the nice comments!! Happy New Year to all !
Happy New Year Joker .
I try to get Sterling 925 silver at spot in Britain. Especially in tableware and decorative wares . As they also have added value for what they are if I wish to resell at a future higher spot price.
Happy New Year Sir! I enjoyed the information you shared. Very Educational! Thank you again! Be Blessed!
You to my friend. Keep stacking
Easiest formula: $1 Face x .751 (not .723) = weight in troy ounces x spot = value
This formula is not for melt value, but actual silver value.
Someone said the house voted to eliminate all silver less than.999 as transaction currency .don't know if there's any truth.been buying UNC 1/2 at junk .as there still half dollars coin dealer not needed and treasury coin not fed.🤗 Later have numismatic value maybe.?
continue to stack in 2020 , 1oz rounds,,coin and maybe some 10 oz bars . stay as close to spot as you can.
That's great advice David. Thanks for watching. Keep stacking
i go to my dealer and say, hey ill buy 5 eagles if you give me a deal on quarters, and he sells them to me for spot price, and i was going to buy the eagles anyway, he is a good guy, but the point is , ask for spot on quaters and dimes you might get it, doesnt work for silver dollars though , cant get a deal for morgans or peace, but he is glad to unload his quaters and dimes cheap, and yes i do get him to weigh them.
Great job, planning on using it this weekend, thanks
.723 x spot = answer x face you are buying = cost of purchase, I think
$1.45 face in 90% is a great way to see what 1oz .
So best to use.723 x spot price sliver on face value of coins
I believe so John. This will give you an accurate dollar value per dollar face of 90% silver. Please see the link in the description.
Thanks for watching. Keep stacking
1 oz in silver in junk (90%) is not going to sell as high price as 1 oz of 999 or 9999 silver so you should not pay too much for those 90% silver coins. I only get junk silver (925, 900, 813, 800 etc) if I can get them at least 20-30% below spot, otherwise it feels like it's not really worth to get, unless it's something special that has more value than the silver itself.
For every $7 of face value [constitutional] equals 5 oz. of silver
I learn something everytime I watch your videos.
Nice
I always thought that spot price was only for purity of .999 fine and junk silver (sold for less) must be refined before it can be used as .999 is used now such as in electronics or jewelry . Therefore junk should goes for less than spot - no ? If not why?
90% silver is exactly what it says it is. Because it's not a full ounce of silver it's not bought at spot price. Unless you have enough silver coins by weight to equal an ounce, $1.40 in "junk" silver coins, it will sell under spot price. Constitutional silver is refined before it's used in industry. I hope that answered you question JustDanO. Thanks for watching. Keep stacking
How do you avoid counterfeit coins?
starts at 1:40
I thank you again for great information. Happy New Year to you and all that you care about. Enjoy the day.
Great video - This should be tought in schools!! But o noooo Regards New Zealand 🇳🇿
The other day I found a Canadian Silver 10 cent piece in my change. It is 80% Silver.