Roll Hunting Silver in the Wild: A Cherry Picker’s Guide to 90% Coin Profits
January 15, 2026What is the Real Value of Sullivan Numismatics FUN Show Report in Today’s Market?
January 15, 2026
The Metal Beneath the Mintmark: When Bullion Becomes Treasure
What if the real value isn’t stamped on the surface? As someone who’s handled thousands of coins – feeling their weight, admiring their luster, tracing their history – I’ve learned silver tells two stories: one of melt value, another of collectibility. Let’s explore why some 90% silver coins command premiums while others barely clear melt. The recent FUN Show revealed a fascinating tug-of-war between metal content and numismatic value, where savvy collectors navigate dealer spreads like seasoned prospectors.
Decoding the Silver Equation: Melt Value Demystified
Before you trade a single Mercury dime, arm yourself with these fundamentals:
- Silver Content is Key: Pre-1965 “junk silver” (dimes, quarters, halves) delivers 0.715 troy oz per $1 face value – the bedrock of bullion math
- Weight = Wealth Potential: Multiply face value by 0.715 (e.g., $10 face = 7.15 troy oz of silver)
- The Spot Price Dance: Current silver price × total troy oz = gross melt value (your baseline for negotiations)
“At 67.50x melt, paying 61x face gives me pause – that’s leaving too much silver on the table.” – Seasoned Stacker
The Bourse Floor Reality Check
Walking FUN Show’s bustling aisles exposed the market’s sharp edges:
- Bargain Hunters (37x face): Offers scraping 67% of melt value despite favorable spot prices
- Wholesale Realists (40-45x face): Standard rates citing “market conditions” while eyeing their margins
- Fair-Deal Champions (47-50x face): Transparent pricing at 85-90% of melt – these are your repeat-play partners
- The Lone Star Bright Spot: One Texas dealer buying at spot minus $6.50 (≈90% melt) proving fair deals exist
Strategic Selling: Maximizing Your Silver’s Song
After decades in the coin game, here’s what the gray hairs (and silver stacks) have taught me:
The 90% Golden Rule
Never sell common-date 90% below 90% of melt unless liquidating fast. At $25/oz silver:
$1 face = $16.09 melt → Hold firm at $14.48+ (unless your coins have exceptional eye appeal)
Timing the Market Waves
As a sharp-eyed forum contributor noted: “65x face might surprise us sooner than later.” Watch for:
- COMEX futures contango/backwardation
- Dealer shortages on key dates
- Spikes in retail premiums for mint condition rarities
The Untold Truth About Modern Commemoratives
Forum veterans voiced unanimous disdain: “90% newer mint commems were shelf warmers.” Why these beautiful orphans?
- Lack historical patina and collector demand despite sharp strikes
- Original issue premiums vanish faster than new-mint luster
- Treated as generic bullion – sometimes at disrespectful discounts
Gold vs Silver: The Bullion Hierarchy
While most debate centered on silver, one user clarified: “This gold discussion changes everything.” Note the class divide:
| Metal | Dealer Spread | Market Dynamics |
|---|---|---|
| Gold | 1-3% over spot | Institutional demand (briefcases move markets) |
| Silver | 10-15% over spot | Collector-driven swings (100oz bars need patience) |
Conclusion: Let History and Metal Guide You
90% silver coins live at the crossroads of tangible history and intrinsic value. While melt value dominates the conversation, remember:
- Calculate your floor price using current troy oz math before any sale
- Seek dealers paying 90%+ melt (like our Texas friend) – they exist!
- Walk proudly past lowballers offering <85% spot
As one battle-scarred seller realized: “My silver deserved another day – and a better buyer.” In this dance between metal and mintmark, let your coins’ luster guide you. Sometimes the real profit lies not in selling, but in knowing when your silver’s song isn’t finished playing.
Related Resources
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