today's silver value of "silver strikes"

in early trading, Monday, April 25 silver is at 49.19 each strike has 6-tenths of an ounce of silver
so there is 29.51 of silver

live chart of gold and silver prices here

Thanks for the update. I've been thinking about selling all our silver strikes (40 from different casinos) and the website will help.

Uh, except that the silver strikes are not investment grade. They are scrap silver.

Although DonDiego expects continued economic difficulties and devaluation of the USDollar over the next several years, . . . and, as a result, higher commodity prices - especially gold and silver, . . . it really looks like the silver market, especially, has gotten ahead of itself right now.




Even a whisper or a hint of higher interest-rates could result in a significant break from the present price. (n.b. DonDiego doesn't expect a significant or immediate rise in interest-rates. The US is in a bind: higher interest would slow a still weak economy, low interest rates will result in inflation, i.e. the devaluation of the USDollar mentioned earlier. It's a puzzlement.)

It may well be an excellent time to sell one's silver strikes, as candydave contemplates, if one has no sentimental attachment to them.

At $49.19-per-ounce, one's pre-1965 US dimes, quarters, and half-dollars are worth more than 35-times the face value.

: : : : : EDITED TO ADD : : : : :

Even as scrap, the silver content alone, with no collector value is, as MoneyLA indicated, $29.51. Any additional numismatic value is, as always, in the eye of the beholder.

Smaller, local silver dealers, like coin shops, should pay about 95%-to-97% of this price; and they'd then sell for 105%-to-108% or so. Bigger dealers, dealing in larger quantities of so-called "junk silver" (e.g. $1000-face-value bags of pre-1965 US coins) would pay close to 97% and sell for 102% or thereabouts.

I'm thinking there will be a huge sell-off once it breaks the $50 mark. On another forum, I have some bets we'll see $30 silver before we see $100. I just sold a bunch at 30X face. Most shops in NYC are paying closer to 90% spot than 95-97%. I was buying junk silver for 3X-7X, so selling for 30X was a nice windfall.
If you look at the silver market for the last thirty years, you'll see a number of boom/crash cycles. Silver never seems to correct, it crashs.

billryan and DonDiego are pretty much in agreement, . . . probably a bad sign. DonDiego expects a drop soon to around $35, . . . a spike down to $30 isn't out of the question. Given DonDiego's dreary long-term economic outlook he suspects $30-to-$35 silver would be a good buy then.

Uh, no, it's not. The price quoted is for investment grade silver. Scrap silver goes much lower.

There was a similar discussion towards the end of March on this very Forum.
DonDiego posted at that time that quotes at apmex.com on bulk silver strikes were buy:$20.66/sell:$25.42. Spot Silver was at $37.

Today apmex.com doesn't show a price, because they aren't offering any for sale.
But with spot silver at $49.19, which it no longer is as DonDiego types, one can extrapolate quotes would be around buy:$27/sell:$33.50.

The spread is around 92%-to-115% of actual spot-silver-content-price, a bit higher than usually found on junk silver, but within the ballpark.
(n.b. apmex.com is pr'bly not interested in buying small quantities, . . . and shipping costs would impact small sales too.)
DonDiego just checked apmex.com on prices for junk silver US coins; a $100-face-value bag is selling at a premium of less than 1% above spot-silver right now; one would have to telephone them for their buy-price, which DonDiego has not done.

About the best way to find out the real market price for casino silver strikes is to nose around e-Bay for a while and see what the "real" price is when there's lots of buyers and sellers actually buying and selling. Oh, and don't forget to include shipping costs in one's calculation at e-Bay too.

Ummmm..... around here "scrap silver" goes for about 10% under spot. American Silver Eagles go for $1.50 over spot.

Silver strikes are not "junk" so please dont make holders of silver strikes think they are holding "junk." Just take a look at the bids on ebay. Besides the point of my original post is the value of the silver content, not what you will get when selling.

I thought coin dealers used the term " junk" for coins that were only worth their melt value. I was introduced to the term at a coin show, and now always ask dealers at flea markets if they have any "junk" silver Mexican coins.