How to Calculate the Value of Cull 90% Silver Coins
In The Ultimate Guide on How to Calculate the Silver Value of U.S. Silver Coins, we discussed how to calculate the silver price for various silver coins based on the spot price of silver. While this information is applicable more times than not, how do you go about calculating the silver value for cull 90% silver coins?
As a refresher, cull silver coins are heavily worn, damaged, bent or defaced coins. They are coins that are of less interest to silver coin investors and collectors; and therefore, sell at a lower rate than average circulated condition silver coins.
Cull Silver Coins
In our experience, the best approach to calculating the value of cull silver coins is by the weight of the coins, and in particular, per gram. The following calculation should provide you with the current value of your worn silver coins:
Current spot price of silver x .90/31.1 = Melt Value per gram
While it’s perfectly reasonable to expect to receive 90% or more of the value of your circulated 90% silver coins, that isn’t necessarily the case with cull silver coins. Firstly, because of the interest level, or lack thereof, you can expect to be paid by the weight of the coins as opposed to on a per coin basis. Secondly, you should lower your expectations and expect to receive 85% or more for your worn and damaged coins as opposed to 90% or more.
As far as scales go, there are plenty of options available in the marketplace, but we’re partial to the 1000 gram capacity American Weight Black Blade for small quantities and the EatSmart Precision Pro scale for larger quantities. Of course, any reliable scale will do, but if you don’t have any on hand, we suggest considering these options.
When the time comes to sell your cull 90% silver coins, expect to be paid by the weight as opposed to by the coin. Secondly, because these coins are in lower demand than average circulated condition silver coins, expect to be paid a lower percentage of the coin’s value. With these two factors in mind, you should experience success when the time comes to sell your worn silver coins.