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Bulk silver round

ProofRainbowRooseveltProofRainbowRoosevelt Posts: 863 ✭
in Precious Metals
I've come across a couple of these on ebay and I'm wondering if they are considered coins? Do people get them graded or are they just used as bulk silver like bars. I've also noticed the 1/2 pound rounds will say "1/2 troy pound" while this one has "1 pound". Is this item considered to be a troy pound? Any help is appriciated.

Comments

  • gecko109gecko109 Posts: 8,231 ✭
    A troy pound is equal to 12 troy ounces. At 31.103 grams per troy ounce, that equals a total of 373.2 grams.

    A regular pound is 16 regular ounces. At 28.35 grams per regular ounce, that equals a total of 453.6 grams.


    As you can see, its a considerable difference! I would always ask what "pound" they are using, or just bid as if the piece weighed 12 troy ounces to err on the side of caution.
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>I've come across a couple of these on ebay and I'm wondering if they are considered coins? Do people get them graded or are they just used as bulk silver like bars. I've also noticed the 1/2 pound rounds will say "1/2 troy pound" while this one has "1 pound". Is this item considered to be a troy pound? Any help is appriciated. >>



    NO, that is a small manhole cover.

    Not a troy pound, it's in av. ounces and that was used to rip buyers when they were made.

    Worth less than if it were in bar form.

    It's a novelty, the only people that made money on them were the people that produced them and then ripped people off thinking they were getting 16 ounces.

    Divide weight by troy ounces and figure accordingly.

    Hint------------> the BIN is no bargin.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • SpaceMonkeySpaceMonkey Posts: 3,311 ✭
    no way you would get that thing graded... It is not a coin... it is just Silver Bullion... and it's BIG... no slab would come even close to fitting that beast... I have one... a nice hunk of silver if you can get on the cheap.





    -sm
    image

    The Maddy Rae Collection
    CURRENT BST OFFERINGS
  • DeadhorseDeadhorse Posts: 3,720 ✭
    Seller lists UPS ground as shipping.

    Not if UPS knew what was in the package.

    They will not ship coins or PMs according to their own standards.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • unknowncomicunknowncomic Posts: 945 ✭✭
    By my somewhat primative calculations it comes to roughly $17.00 per troy ounce.
    Molon Labe
  • fcfc Posts: 12,793 ✭✭✭
    1 pound = 14.5833333 troy ounces

    453.59200 grams = 14.5833214 troy ounces

    249 / 14.58 = 17.0781893 per ounce.
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