Message:

<p>[QUOTE=&quot;StevenHarden, post: 2409316, member: 67639&quot;]Hello Everyone.</p><p><br /></p><p>I was discussing something with a very seasoned coin dealer (60+ years in the business) last week.&nbsp; He said that he had a customer come in to sell him a large batch of wartime silver nickels (the 35% silver type from 1942-1946).&nbsp; According to the Red Book, each wartime silver nickel has 0.05626 troy ounces of actual silver weight in them.&nbsp; The dealer I was speaking with explained to me that his customer was confused at the way he was calculating his buy price for the wartime silver nickels.&nbsp; The dealer explained to the customer that this is the way him and every other dealer he has dealt with has figured it over the past 60+ years.&nbsp; He explained to the customer that his buy price formula was SPOT x 195 x 90% / 4000 to get the per piece price.&nbsp; The customer, who immediately went to the red book reference, stated that the dealer should not be using 195, but rather 225 in his formulation.&nbsp; The customer quickly stated that if each wartime nickel has 0.05626 troy ounces of silver, then a full bag would have 4000 x 0.05626 = 225 troy ounces total.&nbsp; The dealer was a bit perplexed, but continued to use his formula.</p><p><br /></p><p>So my question.......</p><p><br /></p><p>When, and by what means, did the formula using 195 instead of 225 develop in the course of buying wartime silver nickels?</p><p><br /></p><p>I have my own ideas on this, but before putting them in the thread I would like to see what other people have to say.</p><p><br /></p><p>Any information is helpful.</p><p><br /></p><p>Thank You,</p><p>&nbsp;&nbsp; &nbsp; Steven[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in