Gold & Silver Prices

For the sake of this question, lets assume the following:

  1. I want to start accumulating silver and/or gold coins.
  2. I don’t need to buy them cheaper than the going rate, but I’d like to find them competitively priced.
  3. I’m not interested in ‘collectible’ value. I am strictly interested in the value of the silver or gold the coin is made of.

It appears to me that the current spot price on silver is something slightly less than $10 per troy ounce. (If I’m wrong, please correct and show where to find this.) So, I figure eBay is a competitive marketplace, right? Maybe I can find some $10/ounce silver coins there. Nope. Not even close. I understand some of the coins are collectable and therefore are selling for more than the silver itself it worth. However, aren’t there silver coins that aren’t so much collectible as just convenient means of storing and trading silver?

Where does one go to buy competitively priced silver coins? Where do you go to check the market to know what a good price is?

I know there are some experts here on the board that can enlighten me.



Physical silver is hard to come by these days because everyone wants some. Try your local area sellers first.

I’ve been unable to find any locally for a few months and I live near the silver capital of the world.

You can always order bullion from somewhere like Northwest Territorial Mint, but be forewarned that they are currently 8-10 weeks out on delivery. Their prices are about 1.20 over spot for 100 oz. or 1.50/oz. for less. Shipping is free.

Any coin shop should have Morgan Silver Dollars. Lots of years have no special value. Some years are collectible and ay that were produced in Carson City are worth more than the natural silver content.

For gold, Canadian Maple Leafs and Krugerrands are widely available.

Ebay will have sales of “unsearched silver coin lots” These are usually a mix of various silver coins that have little or no collector’s value. Here If you are just looking for them for the melt value, this may be the way to go.

NOt in the last month or so they aren’t. Physical gold and to a lesser extent silver are darned hard to find right now. The prices have come down fast and sellers are far fewer than buyers. We turn down sales of gold Maple Leafs every day.

Morgan dollars melt for about $7 today. We’re buying them over the counter for $13 each in average condition.

Silver dimes, quarters, halves melt for about $6.25/dollar today. We’re buying them from the public at $8/dollar today.

No supply, big demand.

When silver was $18/ounce months ago, we would have sold you silver coins for 95% of the silver content. Huge supply, less demand.

Sometimes yes, sometimes no. That is a page of items currently being bid on. Do a “completed search” to see what they’re actually selling for.

I know in Nevada and Switzerland it has not been a problem to find gold coins in stock and available for sale. The price should reflect the balance between buyers and sellers.