When you purchase a "1oz." round of .999 pure silver for lets say $15 then you want to purchase a "1 Troy oz. .999 pure silver bar, will you pay the same price? I had this question asked of me on another site. Got my blood pressure up because of the back and forth. Let me know your input on this. I say there is a difference in actual weight. So should there be a difference in the price ?
Anyone can google this but 1 troy ounce is equal to 1.09714 imperial ounces, like what we use to weigh produce, so there is a difference. Sketchy eBay dealers use this all the time to confuse buyers. So they tell you getting a pound of silver is a lot but you are not getting a true pound in troy oz, what everyone deals in the PM world, it's 14.5833, off by almost 2 and a half ounces you see. So converting both to grams makes it even easier: 1 troy oz = 31.1035 gms 1 oz = 28.3495
Yes, Lon Chaney is right....on the round itself...all are troy ounces....I thought you meant how someone sells it to you in weight...
A bar it says "One Troy Ounce" A round it says, "1 oz. fine silver"...so there is a weight difference in each ?
No...same thing...don't believe me...get a scale that measures in grams and weigh them both...they will come in at around 31.1 gms each if they are real.
no, all precious metals are weighed in troy ounces whether bars, rounds, coins, ingots, 1 troy oz = 31.1 grams
Actually, troy pounds are even worse, because a troy pound is 12 troy ounces. 16 troy ounces is 497.66 grams. 16 standard ounces is 453.59 grams. One troy pound is 373.24 grams.
To me, an ounce of silver is the same as a troy ounce of silver. Shape doesn't matter. Some manufactures and some resellers charge more for a round or a bar. It's more the design and their name. You're paying for that. You're also paying for their mark-up. I pay as little as possible, regardless of the shape, as an ounce is an ounce when you try to sell it. The only difference is, if you collect them and different shapes and designs mean something to you, along with limited mintages and limited issues. Otherwise, silver is silver and an ounce is on ounce when dealing with precious metals. Beware-There are those who disagree with me but their reasons for buying are different than mine.
one other question about the bar, if the bar is real silver will it attract to a magnet ? If it does not attract to the magnet is it fake ?
That's like saying one degree Fahrenheit is the same as one degree Celsius. They are both measurements of weight or temperature, but with different values. Remember an ounce in the U.S. is a metric measurement, not a troy measurement. You must convert from one to another when doing calculations. It's a must to know which one you are dealing with when you buy or sell.
How do we define the final outcome of our purchases when we are told a bar or a round is .999 fine silver ? What is the test that is definitive ?
They make test kits which will tell you if an item is actually real silver or gold. It can even break down gold into 10k, 18k or 24k. If your buying these bars and rounds from an actual U.S. Bullion Agent/Dealer, licensed to deal with our government mint, it should not be a problem. They are guaranteed for as long you own them.
The term 'fine' in metallurgy refers to 'per mille' ( various spelling/language) meaning per thousands ( 0/00). Since the extraction and purification processes could refine the limit, you may sometime see any numbers of 9 such as 99.999 or 99.9999999 purity, it won't reach 100% until someone invents a "Maxwell demon" that can literally separate one atom at a time. so 90% silver can be written as 0.900 fine, and 99.99% silver as 0.9999 fine, with some dropping the word 'fine' and just using '.9999 silver' so the same amount of silver atoms per unit of mass. No device is really cost effective to measure total purity on a small quantity ( some can measure the surface such as chemical interaction which usually damages the area tested) large scale refineries can use sampling methods and mass spectrometer devices to get a overall purity level. Thus as mentioned I would not buy private produced rounds or bars if total silver % in important to a person. If they found that their .9999 bars were actually .9990, would they return them? then they have psychological problems rather than a monetary one. If a person would be very upset, only buy ASE from a mint distributor and have peace
The bar I have pictured, with the Scottsdale Silver name on it, when placed on a scale reads 31g. However someone on a web site decides that the bar is possibly a fake. How can someone possibly make that assumption by just looking at it ? I assume the next step is to take it to a dealer so they can look at it. As for test kits, where can they be purchased, what are the costs and by testing does it damage the bar ?
Get 5+ opinions on just about anything connected to silver or gold items, and someone one will suggest fake. That's why you need to school yourself on making that call during the buying decision. Where you buy from on the internet can be as important as what you buy. Until you are comfortable doing it on your own, stick to well known sources. In regards to test kits, they can be found on eBay. Cost? Check that out when you research them. It's a common sense decision. You will need a sample from the bar.
Not to be picky but I think the use of the term "imperial ounces" is not properly used here. It is more commonly used to refer to fluid measurements. " Avoirdupois" is the term used for weight in pounds and ounces, as used for produce in the U.S. but left off the descriptions of metals by shady silver dealers.
