does provident pay more than melt?

[hokiemojo]

I was doing a little research on the various denominations we search. I checked out kitco (silver spot price), coinflation (melt value), and provident metals (current offer prices).

Some things I noice were obvious like war nickels have no offer price (I suspect due to the melt ban). OThers were interesting like an offer price on %40 halves, but not ikes or quarters (I know they are rare, but maybe they'd still accept them if you call). The really odd one to me was the offer price on "Cull" peace and morgans. They are offering above melt? Is this because of the collectibility? I didn't think provident was really in that game, but I guess different premiums are assigned to all different items, silver eagles having a higher premium than generic rounds. Just wondering if my understanding is correct.
Thanks!

 

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[hokiemojo]

one more question. Is provident really offereing 97+% of spot on 90% halves? That seems very high compared to local places.

 

[FormerTeller]

Some things I noice were obvious like war nickels have no offer price (I suspect due to the melt ban). OThers were interesting like an offer price on %40 halves, but not ikes or quarters (I know they are rare, but maybe they'd still accept them if you call). The really odd one to me was the offer price on "Cull" peace and morgans. They are offering above melt? Is this because of the collectibility? I didn't think provident was really in that game, but I guess different premiums are assigned to all different items, silver eagles having a higher premium than generic rounds. Just wondering if my understanding is correct.

one more question. Is provident really offereing 97+% of spot on 90% halves? That seems very high compared to local places.

Easy way to tell why they're offering more for morgans and peace dollars is to look at the spread - the difference between what they're paying to buy and how much they're charging to sell.

Yes, 97%-ish of spot is about right, compared to 85% at my local coin store, but with Provident you have to remember to factor in the costs for shipping and insurance, plus the "trust factor" of letting the coins out of your sight. That being said, I've had nothing but good experiences from Provident, though to date I've only bought, not sold.

 

[hokiemojo]

Thanks FormerTeller,
I've got nothing to sell, so this is more theoretical than anything. They have a minimum value before they will buy and $20 worth of silver doesn't approach that cut-off. (-:

I was just trying to figure out if someone built up a large stash of varied coins, would it make sense to sell some versus others. I know most people want to get rid of 40%ers but I think that usually has more to do with space than attaining maximum value (I could be wrong though).

 

[FreedomUIC]

Easy way to tell why they're offering more for morgans and peace dollars is to look at the spread - the difference between what they're paying to buy and how much they're charging to sell.

Yes, 97%-ish of spot is about right, compared to 85% at my local coin store, but with Provident you have to remember to factor in the costs for shipping and insurance, plus the "trust factor" of letting the coins out of your sight. That being said, I've had nothing but good experiences from Provident, though to date I've only bought, not sold.

Dealt with Provident Metals many times. Trust should not be an issue with them.

 

[CoinFetcher]

I understand that there is NOT a melt ban on War Nickles...

In fact, specific provisions to allow it to be melted.

 

[PhattyB]

I think refiners don't want to deal with the manganese content of war nickels, and that is why nobody wants them (yet). Wait until silver is $100/ozT and you'll be able to sell them no problem :-)