That’s very, very cheap for those. “Cull” SD’s (readable features but not in any kind of numismatic condition...but not “slicks”...which I have a pile of = just barely recognizable as SDs) are likely to be about $15-16 even at a coin show...where you can avoid sales tax. http://www.brokencc.com/bulkdollars.php best price I know of: $14.65
However, you can get 90% silver coins by buying circulated “junk” silver quarters and dimes & halves about a buck/oz cheaper. A $1K face value bag of junk silver (treated and priced as 715 tr oz) is about $11,389 (Amark.com) or 11,300 (golddealer.com) or 11,182 (apmex.com) tulving.com is also a highly reco’ed source. SD’s always command a premium, as do halves, but that’s about the smallest premium I’ve ever seen. Of course, you’re buying in much smaller qtys, so you’re getting an even “better” deal.
Junk silver is: 1: Very divisable 2: Never will require an assay (as might a 100 oz bar) 3: is sold at about the smallest premium over spot.
I have loads of silver of various forms: Mostly 90% US coins and many kilos of scrap sterling silver flatware. Haven’t bought much lately.
!!!Beware of counterfeit Chinese silver dollars!!! These have been showing up at coin shows in increased numbers. An easy test: drop them on a tabletop. Nothing rings like silver. All, repeat, ALL Chinese silver is fake. Unfortunately, pewter (=mostly lead) weighs very close to silver, and the Chinese have learned to silver plate pewter so it resembles silver’s weight. Won’t ring like silver, though, and you won’t hurt bad condition coins dropping them on a wooden tabletop.
Grrr... those Chinese are into every fakery available.
Thanks. Looks like I just got lucky on the buy. And, thanks too for the advice on the Chinese coins.
Apmex was selling, as of late last week, rolls of 20 “war nickels” for just a tad under spot price of silver. Each roll of 20 Jefferson war nickels has 1.125 oz pure silver. The coins are 35% silver, the remainder nickel. Cheapest US Mint silver I’ve seen anywhere. If (when) TSHTF, these would make great silver denominated coins for small purchases/barters. 0.0563 Oz silver per coin.