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What percent do the gold and silver buying stores keep from the melt value?
Wiki User
∙ 11y ago
It depends GREATLY on the store.
The one I go to for bullion works on a 3% margin. Whenever you sell to them they pay 97% of spot. Whenever you buy you pay spot + 3% on common bullion.
There's some places that buy for as low as 20% of melt! Some places that buy at 95% of melt and sell for 100% of melt. Etc.
Keep in mind though that the same shop will pay different prices depending on how much you are selling (in general, the more you sell the more they'll pay), what you're selling (things that take a long time to sell such as odd-denomination or foreign coins will be bought at a discount when compared to easily-sellable coins) and what the company thinks silver prices will do (if a company thinks that silver is going to go down within the next week they will be less likely to pay close to spot, if they think that silver will go up majorly they will be more likely to pay close to spot or even above spot!)
Your best bet is to call around to local coin, bullion, jewellery, and pawn shops and see which one offers to pay the most. If you're talking "junk silver" just ask how much they pay times face, or how much per $1 face value, since you're talking about just junk silver, they don't need to see the coins to tell you how much they'll offer.
Wiki User
∙ 11y ago
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