Calculating Junk Silver!

Discussion in 'Bullion Investing' started by Mike Drop, Nov 10, 2017.

  1. Mike Drop

    Mike Drop I don't expect you to get that reference.

    So i'm a relatively new collector and I'm sure that there is an obvious answer- How do you calculate the spot value of each junk silver coin relative to the price per OZ?
     
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  3. stldanceartist

    stldanceartist Minister of Silly Walks Supporter

    You could use the interwebs:

    Coinflation (will tell you silver content depending on type including proof/mint sets)

    I also sometimes use a coin dealer's website that posts buy/sell spreads for junk silver (as well as other bullion.) My bookmarked example is Scotsman Coins' "Trading Sheet" page in St. Louis.
     
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  4. abuckmaster147

    abuckmaster147 Well-Known Member

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  5. Mike Drop

    Mike Drop I don't expect you to get that reference.

    Thank you but i'm the nerd, how do i calculate it, like with pencil and paper?
     
  6. mikenoodle

    mikenoodle The Village Idiot

    You’re the nerd. Research a couple of the above mentioned websites, and do the calculations
     
  7. Mike Drop

    Mike Drop I don't expect you to get that reference.

    Alright thank you everyone!
     
  8. Michael K

    Michael K Well-Known Member

    You weigh the coin, divide by 31.1 (grams in a troy ounce), multiply by the silver purity .90 etc, then multiply by the spot price. Let's say $17 an ounce for silver.
    So a quarter weighs 6.25 divided by 31.1= .2009646x.9= .1808681x 17.00=
    3.0747577 or $3.07
     
  9. Mike Drop

    Mike Drop I don't expect you to get that reference.

  10. Bman33

    Bman33 Well-Known Member

    Multiply the spot price by .715
    This will give you the $1.00 face value of junk silver.
     
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