As silver bullion prices continue to rise, many people ask about the melt value of their silver coins. Currently, a well-worn pre-1964 quarter might be worth around $5.50. However, you shouldn't expect to receive that exact amount for a few reasons.
Dealers who purchase silver melt operate on very small margins. The returns you receive for your bullion can differ based on whether you opt for cash or a check. It's also important to note that dealers taking bullion to a refinery must have a tax ID and be a legitimate LLC or corporation. Payments from the refinery are made via check or direct deposit into the business account, which means dealers must pay taxes on these transactions.
Despite these factors, selling your silver coins or bullion can still be a worthwhile endeavor. Understanding the process and the associated costs are crucial.
JOHN E. RICHARD
973-418-0093
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