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Silver Loss from Wear on 90% Silver Coins (calculation)
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<p>[QUOTE="Dan Rogers, post: 3381035, member: 101221"]So I went through probably 10,000 coins I had accumulated in jars at the end of the day for the past 30 years. When I retired, for each denomination I carefully culled out every coin that had silver content. Then I carefully did my research and checked each coin, looking for the ones that would help make me rich. (Of course I didn't find any.) But knowing there was intrinsic melt-value, for example I counted out my Mercury & Roosevelt dimes. A friend of mine, who collects and sells, confirmed I had nothing of great value but did know someone who would purchase the coins for their melt value. Thinking that wear would probably be a factor and wanting to show I was being up-front about this transaction (and knowing I still had quarters and halves and even war nickels I wanted him to purchase later), I weighed the lot and found there was indeed a loss due to wear. I gave the bags of dimes to my friend noting the weight for each bag. The outcome? The buyer asked for the amount of dimes in each bag, I gave it to him and he paid me by the count, not the weight. Lesson learned....weight is important when trying to identify coins, but wear loss is infinitesimal in the grand scheme of things.[/QUOTE]</p><p><br /></p>
[QUOTE="Dan Rogers, post: 3381035, member: 101221"]So I went through probably 10,000 coins I had accumulated in jars at the end of the day for the past 30 years. When I retired, for each denomination I carefully culled out every coin that had silver content. Then I carefully did my research and checked each coin, looking for the ones that would help make me rich. (Of course I didn't find any.) But knowing there was intrinsic melt-value, for example I counted out my Mercury & Roosevelt dimes. A friend of mine, who collects and sells, confirmed I had nothing of great value but did know someone who would purchase the coins for their melt value. Thinking that wear would probably be a factor and wanting to show I was being up-front about this transaction (and knowing I still had quarters and halves and even war nickels I wanted him to purchase later), I weighed the lot and found there was indeed a loss due to wear. I gave the bags of dimes to my friend noting the weight for each bag. The outcome? The buyer asked for the amount of dimes in each bag, I gave it to him and he paid me by the count, not the weight. Lesson learned....weight is important when trying to identify coins, but wear loss is infinitesimal in the grand scheme of things.[/QUOTE]
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Silver Loss from Wear on 90% Silver Coins (calculation)
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