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90% silver math question

Dave99BDave99B Posts: 8,520 ✭✭✭✭✭

Team -

I’m going be shopping around some 90% silver this week. I have too much of the stuff! I’ve been accumulating avg circulated Mercury dimes for about ten years. I’ve got a few bags. I literally have no idea how many I have, but I can say that the two bags combined weight ~55 lbs. Before I call around, I’d like to get a rough estimate of the face value.

Anyone have a clue how I could estimate it, even within $100? If so, thanks! If not, feel free to make a wild guess. I’ll report back once it’s sold.

Thanks, Dave

Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.

Comments

  • CaptHenwayCaptHenway Posts: 32,091 ✭✭✭✭✭

    $1,000.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • CaptHenwayCaptHenway Posts: 32,091 ✭✭✭✭✭

    New silver dimes are 2.5 grams. A $1,000 bag has 10,000 dimes or 25 kilograms. The common rough conversion rate is 2.2 pounds per kilo. 25 x 2.2 =55 pounds.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • yosclimberyosclimber Posts: 4,770 ✭✭✭✭✭
    edited May 28, 2024 8:52PM

    $997.9 = 55 lb * 453.6 g/lb * (1/2.5 dimes/gram) * .10 dollars per dime

    2.5 grams per dime is when they are new; a little less when worn, but maybe not too much less.

  • CaptHenwayCaptHenway Posts: 32,091 ✭✭✭✭✭

    Now, if the coins are well worn the face value for that weight will be higher.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • rte592rte592 Posts: 1,655 ✭✭✭✭✭

    2.5 grams less 4% loss for circulation.
    1 pound is 453.592 grams...189 dimes per pound x 55lb
    10,394 dimes.
    What's the prize for the closest guess?
    If I'm off it's because you didn't account for the bag and your scale is past the calibration date :D:D

  • MsMorrisineMsMorrisine Posts: 32,977 ✭✭✭✭✭

    you could weigh $5 face worth and that'd yield a weight that includes an average weight of the worn coins.

    something changed with google. it used to be good with conversions, but the last time i tried grams to toz, it gave me avdp oz instead with no option to select toz in the drop down.

    anyway, give google a try on conversions. just enter 55 pounds 13 ounces to grams/kg/toz/whatever, hit search and you get it.

    back to the selling part. ask on the precious metals forum what's a good price per face on circ mercs. there are bst threads on there, you could even sell them directly there.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • PerryHallPerryHall Posts: 46,084 ✭✭✭✭✭

    @CaptHenway said:
    New silver dimes are 2.5 grams. A $1,000 bag has 10,000 dimes or 25 kilograms. The common rough conversion rate is 2.2 pounds per kilo. 25 x 2.2 =55 pounds.

    The bags are unsealed and opened so you can't just assume how many dimes are in there. He may just be reusing old mint bags for storage purposes. Find someone with a coin counting machine such as a bank or coin dealer to determine how many dimes you have and then figure a value for an average circulated Mercury dime and multiply the two numbers. Based on the pic posted, they look to be a little better that the typical well-worn Mercury dime slicks found in junk silver hoards

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • johnny9434johnny9434 Posts: 28,266 ✭✭✭✭✭

    75 lbs, fwiw

  • OnastoneOnastone Posts: 3,912 ✭✭✭✭✭

    @rte592 said:

    If I'm off it's because you didn't account for the bag

    I was thinking TARE too.

    Just counting from the photo, looks like about $1147.30

  • jmlanzafjmlanzaf Posts: 33,913 ✭✭✭✭✭

    @PerryHall said:

    @CaptHenway said:
    New silver dimes are 2.5 grams. A $1,000 bag has 10,000 dimes or 25 kilograms. The common rough conversion rate is 2.2 pounds per kilo. 25 x 2.2 =55 pounds.

    The bags are unsealed and opened so you can't just assume how many dimes are in there. He may just be reusing old mint bags for storage purposes. Find someone with a coin counting machine such as a bank or coin dealer to determine how many dimes you have and then figure a value for an average circulated Mercury dime and multiply the two numbers. Based on the pic posted, they look to be a little better that the typical well-worn Mercury dime slicks found in junk silver hoards

    The OP said 55 pounds. Tom pointed out that $1000 bag should weigh 55 pounds. He didn't assume it was a full bag.

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    About $23,000. RGDS!

  • DisneyFanDisneyFan Posts: 2,043 ✭✭✭✭✭

    @blitzdude said:
    About $23,000. RGDS!

    Would you like to buy some nice coins?

  • Dave99BDave99B Posts: 8,520 ✭✭✭✭✭

    Still calling around locally. I've got the following quotes so far (times face): $1.85, $2.00, and $2.13

    Dave

    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • ElcontadorElcontador Posts: 7,522 ✭✭✭✭✭

    Per the web, melt value for 90% silver is $2.28 per coin per $1,000 face amount. I am guessing ballpark for this is 5% less to you, as the buyer needs to make some money on the transaction. Question is what sort of premium can you get on your Mercs? I have no idea.

    "Vou invadir o Nordeste,
    "Seu cabra da peste,
    "Sou Mangueira......."
  • MsMorrisineMsMorrisine Posts: 32,977 ✭✭✭✭✭

    definitely post your question on the precious metals forum. 1.85 and 2 is ridiculous

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • CrustyCrusty Posts: 1,107 ✭✭✭✭✭

    Several shops are selling at spot right now. So I’d take the closest offer to spot.

  • TypekatTypekat Posts: 366 ✭✭✭✭

    5% back of spot seems about right for that quantity, in today’s market.

    30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!

  • AUandAGAUandAG Posts: 24,754 ✭✭✭✭✭

    Rolls of mercs are $150 on ebay, which is $3each.

    bob:)
    But, then there is the time and fees.

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • jdimmickjdimmick Posts: 9,667 ✭✭✭✭✭
    edited May 29, 2024 5:35PM

    with that quantity:

    Yes, dont be too greedy , many places have backed way off due to lack of sales. The companies we ship too, are at -1.00

    vermillion guy from florida, who imo is about as fair as they come and nationally connected was at minus 1.00 also on 90% in his last video.

    I might add: One guy i know who is waiting to unload at 35.00 has 200k face of 90% . (yes, you read that correct $200,000 in face

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