Wednesday, July 21, 2010

How many TROY Ounces of SILVER in U.S. Coins?

Useful Info:

To equal 1 Troy Oz in in the following U.S. Silver Coins you will need uncirculated coins or close to the original weight with very little wear on the coins!

WAR NICKELS  dates 1942 - 1945 (35% Silver or .056265 ASW~actual silver weight) 18 = 1.01277oz
Pre 1965 DIMES (90% Silver or .072340 ASW)  14 = 1.01276oz
Pre 1965 QUARTERS (90% Silver or .180840 ASW)  6 = 1.08504oz
Pre 1965 HALF DOLLARS (90% Silver or .36169 ASW)  3 = 1.08507oz
1965 - 1970 HALF DOLLARS (40% Silver or .14792 ASW)  7 = 1.03544oz

MORGAN SILVER DOLLARS dates 1878 -1904 and 1921 and PEACE SILVER DOLLARS dates 1921 - 1928 and 1934 & 1935 all have in the original minting 90% Silver or .77344oz ASW

This is why when South Africa came out with the Krugerrand in 1967 and it had a rounded bullion weight of exactly 1oz Troy weight it helped change the concept of investing in GOLD and SILVER, because of the ease to calculate value with the daily SPOT PRICE of the Precious Metal.

As with customers asking why they can't BUY at SPOT Price and not paying a premium off spot.  The reason is that SPOT PRICE Quotes are for the RAW BULLION before it has been processed into coin round forms or art bars of various sizes.  It is a base price before any commissions, fees are added plus it does NOT include the COSTS such as extracting mined ore, labor, minting into tradable forms, insurance, shipping, etc.

For me the key is do I hold FIAT Man's paper money or REAL Hard Asset  GOD's GOLD and SILVER money backed by 5000+ years history of mankind trading and exchanging them as a true store of value and being HONEST Money.

The Bible mentions GOLD 430 times and SILVER 303 times.

The U.S. Coinage Act of 1792 stated a dollar shall be 371.25 grains of SILVER.  No where did it say anything about a paper dollar.  By the way 1 Troy oz equals the equivalent of 480 grains (gr), 20 pennyweights (dwt), 31.1034768 grams (g) or 1.097142857oz avoirdupois (av).

Precious Metals and Gems are weigh in TROY weight and there are 12oz Troy to a Troy pound
Avoirdupois is the weight most commonly used in the U.S. for everything else that the consumer purchases and there are 16oz AV per pound.  It is important when dealing in precious metals to know the differences in weight or it will cost you.

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