Buying junk silver in the UK?

[Tube]

I'd like to buy around £100 worth of junk silver, around spot price, in the UK. I can't find anywhere that does this? Most US sites either don't offer postage, or the postage is prohibitively high. 

Thanks for your help!

Tube

[Norskgeld]

The only places I can think of are coin fairs, ebay or somebody on this forum.

[Ansel]

50% half crowns can be found on eBay under spot if you find the right auction. 

[WealdenWoodsman]

Pre-47 silver coinage is very easy to find,  however the best way to get it cheap IMO is to go for the smaller coins (3d and 6d).

I regularly buy 50% silver 3d way under spot, you just have to know what to search for on eBay. Plus the smaller coins tend to get ignored by most who tend to favour larger Shillings and Crowns, which helps keep the prices down.

[KevjustKev]

You can get some from antique shops, however this is very hit and miss. Plus they tend to price on age rather than the amount of silver.

[ilovesilverireallydo]

On 17/02/2018 at 21:23, Tube said:

I'd like to buy around £100 worth of junk silver, around spot price, in the UK. I can't find anywhere that does this? Most US sites either don't offer postage, or the postage is prohibitively high. 

Thanks for your help!

Tube

@MikeSol

[Lowlow]

Is the UK sterling 3 pence easy to find in country as junk ?

[Silverclown]

What’s the process of melting down scrap silver if it’s 50% silver when you want to sell it?

[dimodae]

On ‎30‎/‎03‎/‎2018 at 09:36, Silverclown said:

What’s the process of melting down scrap silver if it’s 50% silver when you want to sell it?

I was wondering about that too. apparently the best price can be found in HERE instead of local scrappers.

They will charge same fee(10~20%)  for pure silver, 80%, 92.5% 50% whatever.

So my conclusion is stacking 50% silver is probably most BORING but MOST ECONOMICAL way of stacking.

That being said a little bit of my 50% are on sale for 5% below spot ^^*.   

[Silverclown]

20 hours ago, dimodae said:

I was wondering about that too. apparently the best price can be found in HERE instead of local scrappers.

They will charge same fee(10~20%)  for pure silver, 80%, 92.5% 50% whatever.

So my conclusion is stacking 50% silver is probably most BORING but MOST ECONOMICAL way of stacking.

That being said a little bit of my 50% are on sale for 5% below spot ^^*.   

The link does not work:(

[dimodae]

My silver coins 6% below spot are all sold. Sorry man. 

[DarkChameleon]

I'd say if you want the American junk silver then backyard Bullions group orders might be the place to go, he got himself some so it's available...I have $100 face but I'm in the states and as you said, the shipping isn't great.

[HighlandTiger]

Why bother with paying a premium on 0.500 junk silver coins, when you can buy hallmarked sterling silver 0.925 flatware for less than spot on eBay.  

[dimodae]

57 minutes ago, HighlandTiger said:

Why bother with paying a premium on 0.500 junk silver coins, when you can buy hallmarked sterling silver 0.925 flatware for less than spot on eBay.  

50% junk silver coin lots are sold 1~5% below spot on ebay. So its not a bad option. Sterling and 500 have same melt fee and handling fee. (I know.. weird.. but checked throug various sources)

But like u said, getting sterling on ebay for Below spot is good idea too. But with junk silver coins u can play with them. Or maybe start cherry picking to differentiate better conditioned ones. I say 500 british silver coins ate probablt most cost efficient and FUN way of stackig silver. 

[Pipers]

Silver is a great buy and flatware/ hollowware is where some of the best deals can be had.  Sterling silver is a good buy at spot in the UK just make sure it has a hallmark on it. 

 

[Murph]

On 27/08/2019 at 15:37, dimodae said:

50% junk silver coin lots are sold 1~5% below spot on ebay. So its not a bad option. Sterling and 500 have same melt fee and handling fee. (I know.. weird.. but checked throug various sources)

But like u said, getting sterling on ebay for Below spot is good idea too. But with junk silver coins u can play with them. Or maybe start cherry picking to differentiate better conditioned ones. I say 500 british silver coins ate probablt most cost efficient and FUN way of stackig silver. 

Where are you finding places that will melt your silver for 10% of the spot price no matter the purity?

Even finding many dealers that will give you the same price for scrap .500 or .999?

[dimodae]

2 minutes ago, Murph said:

Where are you finding places that will melt your silver for 10% of the spot price no matter the purity?

Even finding many dealers that will give you the same price for scrap .500 or .999?

I used to look for local silver melters to sell for better price. But check out internet "we buy silver" places. They will probably pay about

18~19p per gram for your 50% silver coins (because they are 50%, but the 99.9% they will pay double that.. so.. same price)

I don't recommend u go to local silver buyers. Just sell here. You can get highest price here. With -10%, they will jump in. I would too

if I am not moving soon.

[Murph]

Not looking to sell any silver but I've never seen anyone offering to refine your 50% pure silver for a 10% fee so I wondered where you got that price.  A lot less hassle than doing it at home and probably cheaper or just as cheap too.

[DarkChameleon]

This is where we know that silver is not the be all and end all...if it was they'd have vacuumed up all the coins and refined them into ingots to sell on...old coins are not only found in theground..shops have held and traded them for centuries...how many old gold coins are there?...not as many as si,very because it's value is sufficient to buy up gold coins of various purity and smelt them back to ingots, not so with silver coins.

[MansaMusa]

Does anyone know if old british silver coins are CGT exempt? It's surprisingly hard to find this information. Since they are demonitised I suppose they're no longer UK legal tender, so I would assume they're not exempt.

[Miganto]

 

53 minutes ago, MansaMusa said:

Does anyone know if old british silver coins are CGT exempt? It's surprisingly hard to find this information. Since they are demonitised I suppose they're no longer UK legal tender, so I would assume they're not exempt.

They are not exempt

[Roy]

Double florin is still legal tender 😉

[musketsmoke]

On 17/02/2018 at 21:23, Tube said:

I'd like to buy around £100 worth of junk silver, around spot price, in the UK. I can't find anywhere that does this? Most US sites either don't offer postage, or the postage is prohibitively high. 

Thanks for your help!

Tube

Hello

being having the same problem its not easy to get hold of 

i have been paying between 30 to 48p per gram on what i can get hold of usually STERLING

if i find anything i dont need i will keep you in mind (ME looking for 3kg)

[Thebrumie]

Hi everybody 

Sorry to reactive this old Topic :

But according to you guys and your knowledge of the market in 2021 :

What is the best type of UK scrap coin to acquire not in a collection way but just to acquire big volumes of cheap silver ? 

( Honestly I don't know nothing about the past British coins & money )

I think that the mainly source will be Ebay where , for now , I can't really understand what is a good deal or not 

Thanks 

Jeff

 

[HelpingHands]

Before 1920 coins   .925  (might have a premium)

1920 - 1946   50% silver (usually can buy at spot price)