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Junk Silver Premiums Formula Explained

Junk Silver Premiums Formula Explained

The local coin shops always keep their eyes on the silver and gold premiums to update the customers on their needs. The prices of precious metals change as the market fluctuates due to several factors. We all know that the inflation rate increases every day and is currently about 8.3 percent. So the prices of gold and silver also increase. The local coin shop learns the new prices daily or twice daily. The premium changes are uncontrollable and impact the market. However, the piece coals are the best silver coins available at our local coin shop. It is available for 27 dollars and is considered the cheapest in the country.

If you want a piece of coal coins, you can get them or sell them at the best prices in the country.

Here we will share the silver and gold premiums you need to know before buying it. Ensure to keep yourself updated with the latest premium changes and anticipate the prices for having better coins in the market.

  • 100 ounces of silver is available, and we are buying it at the spot price plus a one-dollar premium. In addition, we are selling it at the spot price with an additional 1.90 dollars premium change. You can get it at the best price if you are interested in 100 ounces of silver bricks.
  • The kilo bars and 50 ounces silver bars are also available. We are buying it at the spot price with an additional 1.20 dollars and selling it at the spot price with 2.35 dollars premium money. These are the pioneer bars that are beautiful and best in quality. The distributors are also ready to ship the silver bars across the country in different ounce weights.
  • The 10-ounce pioneer bar of silver is also trending in the market. We are buying it at the spot price plus 1.25 dollars and selling it at the spot price with additional 2.95 dollars.
  • The silver rounds had premium changes last week. The one ounce of rounds and five ounces of silver bars are precious. We are buying it at a spot price plus 2 dollars and selling it at a spot price with additional 3.75 dollars. You can get it in different designs.
  • The American silver eagles have high demand. We are buying it at the spot price with the addition of 9 dollars and selling it at the spot price with an additional 11 dollars premium. It costs higher than all other silver coins.
  • We are also dealing with American Gold Eagles. We are buying the one-ounce American gold at a spot price plus 4.5 percent and selling at a spot price with 7 percent of the premium cost.
  • The dimes and quarters are selling at the spot price with a 7.5 percent premium, and we are buying it at the spot price with an additional six percent premium.

You can calculate the melt value by knowing the weight, spot price, and premium change. The standard formula is easy to calculate by knowing these values.

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GIA - Gemological Institute of AmericaNGC - Numismatic Guaranty CorporationNCS - Numismatic Conservation Society
PMG - Paper Money Guaranty

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