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<p>[QUOTE="satootoko, post: 211464, member: 669"]Since you've done a little mixing of oranges and apples in your computation, it's a worse deal than you think.</p><p><br /></p><p>The reference to a "half-pound" undoubtedly means 8 oz. av., the same weight as the patties in two quarter-pounders. However, precious metals are measured in troy ounces, which are somewhat heavier.</p><p><br /></p><p>The correct multiplication factor is 7.29 x the price of silver (~$13.32 as of the market close on 3/29), so a full half-pound of pure silver would have a melt value of only $97.10. Of course the coins could be anywhere from 40% to 90% silver (assuming they are all US coins - other countries have used as much as 92.5% sterling). Using the standard US fineness of "coin silver" - .900 fine - the silver in that lot is only worth $87.40, less than 2/3 the opening bid! <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie9" alt=":eek:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="satootoko, post: 211464, member: 669"]Since you've done a little mixing of oranges and apples in your computation, it's a worse deal than you think. The reference to a "half-pound" undoubtedly means 8 oz. av., the same weight as the patties in two quarter-pounders. However, precious metals are measured in troy ounces, which are somewhat heavier. The correct multiplication factor is 7.29 x the price of silver (~$13.32 as of the market close on 3/29), so a full half-pound of pure silver would have a melt value of only $97.10. Of course the coins could be anywhere from 40% to 90% silver (assuming they are all US coins - other countries have used as much as 92.5% sterling). Using the standard US fineness of "coin silver" - .900 fine - the silver in that lot is only worth $87.40, less than 2/3 the opening bid! :eek:[/QUOTE]
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