Remember, buy 90% silver in asw not total weight

Some dealers, auctions, and even cointalk for sale ads deceptively sell 90% silver coins by total weight, not actual silver weight.

The face value of 90% silver American coins should be multiplied by .715 to determine silver weight.

 

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"Deceptively"? The ones I've seen are quite explicit that they're talking about weight of coins, not weight of silver.

I was always more annoyed by that one guy in particular who'd list "SURVIVAL SILVER" lots, and call out their weight in large print, but leave to the small print the fact that they were mostly war nickels (35% silver, and trade at a heavy discount because of it).

Also make sure you know whether they're talking about troy ounces (31.1 grams), standard (avoirdupois) ounces (28.35 grams), or troy pounds (12, not 16, troy ounces, or a mere 373.2 grams, only about 82% of a standard pound).

 

I only deal with honest reputable dealers.

 

For instance, $47 face of 90% halves and quarters is 33.6 oz (47x.715) of actual silver weight, not 40.6 ounces, as a scale would show the total weight of the coins to be (silver and the 10% that is copper). At today's silver spot of $18.50, that's about $622.

 

33.6 oz is not 90% of 40.6 ounces. It's 83%. You're confusing troy and standard ounces, or something like that.

JUST CONVERT EVERYTHING TO GRAMS. It's really not complicated.

Silver dimes, quarters and halves, as minted from the late 1800s until 1964, weighed 25 grams per dollar as struck. Since they contain 90% silver, that's 22.5 grams of silver per dollar FV. A troy ounce is 31.1g, so 22.5/31.1 = 0.723 ounces of silver per dollar FV. The .715 figure is about 1% lower, and is meant to compensate for loss due to circulation wear.

$47 face of uncirculated halves and quarters would weigh about 1175g, which is 37.78 troy ounces, or 37.4 troy ounces after deducting 1% for wear.

"A scale (measuring standard ounces, not troy) would show" 41.4 ounces for $47 FV of uncirculated 90% coins, 41 ounces for normally-worn.

 

I'm not confusing anything. I'm passive aggressively referencing a for sale ad on cointalk trying to sell $47 face of 90% as 40.6oz for $750. It is actually 33.6 oz of asw.

The 40.6oz is inconsequential to the amount of silver bring advertised.

But yes, the type of measurement is important in its own right, but not what I was specifically taking issue with.

 

This thread's a sham........

 

Hmm. I see no asking price stated in that ad. I hope you didn't DM the seller to ask for a price, then decide to trash the seller in a discussion thread because you didn't agree with it.

2 lb 8.6 oz seems just about right for coins in that state of wear -- it tells me that there probably aren't many slick Barbers or SLQs in the lot, since they're typically underweight. I'd offer less than melt for the lot, but I wouldn't expect to get it, and I wouldn't fault anyone for paying more.

 

I don't know what DM stands for, but I would NEVER buy bullion on a forum. I messaged the seller this morning requesting he clarify his ad to show asw. He only removed the $750 asking price, but continues to advertise the total weight of the lot.

I take issue with the total weight being listed in the ad, which is misleading when only SILVER weight is relevant. Actual silver weight of $47 face is 33.6 oz. It is irrelevant and misleading for the seller to show any other weight in the ad.

 

Actually the total raw weight is a more accurate measurement for anyone who knows math.

..and your weight of 36.6 is wrong, it’s 36.9994

 

“The face value of 90% silver American coins should be multiplied by .715 to determine silver weight”

...again wrong, it’s .7234...If you want to account for wear you start with the total weight and do the math.

 

I strongly disagree. The ad clearly states $47 FV, and it clearly states 90% silver coins. The photo on the scale just provides additional confirmation, by showing the lot's total weight (in standard pounds and ounces).

If anybody thinks they're magically going to get coins that look just like circulated 90%, but are actually pure silver -- well, that's not on the seller, in my opinion.

 

.715 accounts for circulation. It is the most commonly used formula for determining silver content of American 90% junk silver. .7234 would only apply for uncirculated.

 

I just disagree with you. I don't think he's being transparent. He's withholding very important information. I think the buyer should always be given precious metal weight when buying precious metal.

It would be like selling a gold eagle as 1.09 oz without saying only 1 oz is gold.

Yeah, you and I know all of this information and are unlikely to be deceived. But how about the new guy, or how about the wife buying a gift? But even for people like us, don't we want to buy with a uniform standard? Do we want l the bullion dealers to sell by precious metal troy weight?

 

Why use a rule of thumb when there’s a lot more accurate method.....People should only use the rule of thumb if they don’t have a scale.

 

Just to stir the pot because I am that kind of warm wonderful person LOL "rule of thumb" meant the stick used to beat some one with could not be thicker than your thumb

 

Because circulated junk silver is sold as .715oz silver per dollar face everywhere in the civilized bullion world. Jesus, are you going to get out a scale for plus or minus .00-something ounces?! Give me a break!

 

Not in my area!

 

Is that a store that buys and sells at different weights? They buy at .715 and sell at .7234? I'd tell them to go blank themselves and take my business elsewhere unless they want to change their practices to be fair and consistent.