Why math and education matter in numismatics

I'm not sure what these people bidding were thinking....it was marked 1979...... Chances are it was filled with modern at the time coins...not taking into account the math stated here

 

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They were not "Silver Dollars", sounds like they were all clad Ikes with no silver in any of them.
Silver dollar to me is 90% silver ala Morgans and Peace dollars.

 

I can see the legal justification now... "well... they are all silver in color..."

 

This sale is on the same level as jerks who sell so-called home repair and car repair warranties. Designed to sucker the uninitiated.

 

That's exquisite. I am so stealing that.

 

In the late 70's there was a "silver crisis" and a huge run on Silver. It went up to $50 an ounce for a short time as the Hunt Brothers were buying it up at light speed in an attempt to corner the market (among others).

People started clamoring for silver - and it was also the end of the Ikes - so people started hoarding knowing what the Morgans and Peace dollars were worth.

There are also some old bank bags that had mixed Morgans, Peace and even Ikes (not often) but the bags are still out there.

 

If nobody has responded, 24.1 grams is within acceptable tolerance. I do have a few of those. Well, at least one.

Actually, I have two 1973-S 40% Silver IKE's with oddball weights.

One is 23.1 grams while the other is 25.3 grams.

 

I've encountered about 4 of those bags in the past year when I ordered 1,000 coin bags of IKE's from my bank.

They'll cough up Morgan Dollars, Peace Dollars, Circulated Silver Eagles, and occasionally, a circulated .999 fine bullion round. Since these bags are filled by weight, the dollar count will be off by as much as 10 coins but then, who really cares since the 90% Silver coins more than make up for the loss when they get sold.

I found a 1971-S in the last bag that had a portion of its edge machined off. Surprisingly, it showed what appears to be a copper core but its definitely a 1971-S.
I'm a bit undecided on what to do with it as I feel confident that it is silver coin (weight 24 grams) but if I sell it, the buyer may think it's counterfeit due to that "copper colored" core.

 

19Lyds is right about the coin being within tolerance. Spec on a 40% silver Ike is 24.59 grams +/- .984 grams so they could weigh anywhere from 23.61 grams to 25.57 grams. (So 19Lyds 23.1 grams coin IS under weight.)

 

The underweight coin shows evidence of a slightly thinner planchet since areas near the rims clearly show unstruck annealing marks.





1973 produced some interesting S Mint 40% silver Business Strikes.