This is a question I've wondered about. Often, we'll say that 90% junk silver coins are being bought at 12x face or whatever. However, the weight of silver in a silver dollar is not in proportion to the half, quarter or dime. So if 90% junk silver was worth 10x face, what could you expect to get for a silver dollar?
$10.70. US silver coins were all .900 fine, and except for the dollar coin, a dollar's worth contained .7234 oz. of pure silver. The dollar coin, with .7734 oz. of pure silver, therefore weighs 1.069118 times as much. Just multiply any minor coin junk silver rate by 1.07, and, as they say, you'll be close enough for government work. The value is $15.51 when the multiple is 14.5.
how do you figure 10.70? that is not correct. maybe its what a dealer would offer, but its not the actual value. http://www.coinflation.com/silver_coin_values.html
Read my post! There is 1.07 times as much pure silver in a silver dollar than there is in 10 dimes, 4 quarters or 2 halves. When I went to elementary school in the 1930's, 1.07 times 10 was 10.7, and I don't think the multiplication rules have changed. Again, read my post. I am simply stating the mathematical relationship between the spot price by weight of silver dimes, quarters and halves on the one hand, and silver dollars on the other hand.
thats not what he asked for. are you saying coin flation is a site that posts incorrect data? 14.77 is TODAYS value in silver content alone for a morgan silver dollar. dealers at the last show i went to were giving 13-15 for XF and above morgans and peace dollars. you are talking about something that i was not. the silver value is in stone, you cant just say oh its 10 bucks.
the FACE VALUE of a morgan silver or peace silver dollar is NOT i repeat for you, NOT 15.xx when a 14.5x FACE VALUE multiplier times ONE DOLLAR... thats 14.50 USD. i dont know how they taught math at the school you went to, but if that is what they taught... id sue. no one asked for whatever you are talking about. he said "90% coins are being bought for 12x face" where in the world did you get any idea that anyone was talking about anything other than FACE VALUE times whatever number. so whatever math you are coming up with, no one asked for it in this thread. we both said FACE VALUE MULTIPLIER. hopefully that is clear enough in english.
Frankly, I neither know nor care how accurate they are, as I COLLECT coins, and do NOT invest in silver. However, where do you see a significant discrepancy between my post and your beloved website? According to that site 10 silver dimes have a silver value of $13.816, and a silver dollar has a silver value of $14.7729. That makes the dollar coin worth 1.06926 times 10 silver dimes, which rounds off at 1.07, which is the same figure I independently calculated. And, by the way, silver value is not "in stone" - it fluctuates by the minute. l What is set in stone is the weight relationship between and among the various US silver coins. The OP's mention that dollar silver content is different than other coins implied that by "junk silver" he was referring to the dime/quarter/half group, and inquiring about the ratio of dollar coins to the others. That's what I responded to. I have better things to do with my life than argue with people who can't separate their hopes, desires and opinions from cold hard facts, so I will make no more posts in this thread, and since catsailor40 is now on my ignore list, there will be no more responses to his/her postings.
Thanks for the input. Just to clarify, I was looking for that 1.07 multiplier. As an example, if I went to a coin show and they were offering 13x face for dimes, quarters and halves, I would expect MORE than 13x for my silver dollars (assuming they weren't slickies). I'm also guessing that when silver is at lower levels, there's a bit of a premium probably as people like large shiny things. But as silver goes up, I would guess the "premium" sort of evaporates for common mid-grade silver dollars.
If you read the OP, the question was "o if 90% junk silver was worth 10x face, what could you expect to get for a silver dollar?" Hontonai is correct.
I walked into this coin/jewlery shop today for the first time. They didn't have too many coins but I found buffalo nickels on sale for $2.00 and indian head pennies for $2.50, I found this kind of high. Anyway back to the point, They had some peace and morgans in bad condition and I asked what the price of these was and they said "right now around $40". I'm new to this coin collecting thing but I found that a bit high too. I recently bought 2011 silver eagles for $35. So if I'm reading this thread right these silver dollars are over priced right?
In bad condition, I'm guessing you're referring to well circulated examples? I went to one of my local coin shops today to get some silver (thanks to the dip in price!) and got a Morgan and Peace dollar at a little over $22 a piece. These were circulated examples, thus they sold them at melt price. Most other local stores put a premium on silver dollars, even if they are circulated but this one particular shop has a shelf of silver that always sell at melt, no matter what the price is. Also got some dimes, including a few barbers at melt as well!
