I'm new to this so tell me what I'm missing. I see this on Ebay.. http://www.ebay.com/itm/Think-Stock...otn=21&pmod=320840563548&ps=54#ht_3908wt_1165 And I don't understand // 1 lb. is 16 oz x 34.00 per oz is 544.00 Isn't this selling for a lot less than melt value... even considering the coins are 90% silver?
Yep, there are only 14.5833 troy ounces in a pound. And for the OP, PM pricing is based on troy ounces. Cas has it correct, and you can always use a silver calculator like this one to get the current price of silver coinage: http://www.silvercoinstoday.com/silver-calculators/us-silver-coin-calculator/
Maybe I am wrong but I have also always assumed these types of listing try to confuse you by listing the weight. I believe you would get 1lb total weight not one pound worth of silver as the metal may be 90%, 40% or 35% silver. Figure at least 10% of that weight will not be silver weight.
So everything is 90% silver, with the exception of the 40 war nickels. though he doesn't specify 1964 kennedy halves but he did say all are pre-1965 so that should check. Stay away from this shady description because you will most likely have bad outcomes. Silver content is way less than So if you divide it up and count the troy ounces of silver (9.7736 troy ounces) you are getting screwed, nailed and drilled out of the pocket. ~Cannyn
Absolutely confusing (as indicated by the OP). He had the good sense to post his concerns here on CT... most buyers just believe the hype and "buy it now". Most think they're getting sixteen ounces of silver when they are actually (in this case) getting around ten troy ounces. This is a marketing ploy that prays upon the uninformed.
