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Help me understand XXX x Face Value pricing of Junk Silver
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<p>[QUOTE="drathbun, post: 1632830, member: 42789"]If you look at "coinflation.com" you'll see where they have broken down the silver content in various coins. Based on the ratio of silver to non-silver content, and the fact that silver (base metal) is hovering around $31 an ounce, the cost of the "melt value" for the so-called junk coins runs around $25. A quarter has 2.5 times as much silver as a dime, a half-dollar has 2x the silver of a quarter, and so on. So it's a really easy calculation to make. I was at a coin show this past weekend (my first!) and saw one seller with $50 bags of coins. He was actually selling for $24 x face, or $1200 per bag. Before going to the show I head read a number of topics on this board and understood that the going rate around now is $25 x face, so $24 x face seemed to be a good deal. I didn't have $1200 to spend <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> or I might have bought a bag.[/QUOTE]</p><p><br /></p>
[QUOTE="drathbun, post: 1632830, member: 42789"]If you look at "coinflation.com" you'll see where they have broken down the silver content in various coins. Based on the ratio of silver to non-silver content, and the fact that silver (base metal) is hovering around $31 an ounce, the cost of the "melt value" for the so-called junk coins runs around $25. A quarter has 2.5 times as much silver as a dime, a half-dollar has 2x the silver of a quarter, and so on. So it's a really easy calculation to make. I was at a coin show this past weekend (my first!) and saw one seller with $50 bags of coins. He was actually selling for $24 x face, or $1200 per bag. Before going to the show I head read a number of topics on this board and understood that the going rate around now is $25 x face, so $24 x face seemed to be a good deal. I didn't have $1200 to spend :) or I might have bought a bag.[/QUOTE]
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