Question about Canadian 80% coinage
piecesofme
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So according to coinflation.com, if the Candian coin is between 1920-1966 it is 80% silver. The only year where 50% silver comes into play is 1967.
My question is, is there a "multiplier" for buying 80% coins? With US 90% coins the standar multiplier is .715 to figure out what the silver is worth in a 90% coin.
According to the math on coinflation, it would be about .6. Does anyone know what it is for sure.
My question is, is there a "multiplier" for buying 80% coins? With US 90% coins the standar multiplier is .715 to figure out what the silver is worth in a 90% coin.
According to the math on coinflation, it would be about .6. Does anyone know what it is for sure.
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<< <i>So according to coinflation.com, if the Candian coin is between 1920-1966 it is 80% silver. The only year where 50% silver comes into play is 1967.
My question is, is there a "multiplier" for buying 80% coins? With US 90% coins the standar multiplier is .715 to figure out what the silver is worth in a 90% coin.
According to the math on coinflation, it would be about .6. Does anyone know what it is for sure. >>
That sounds about right. You could weigh $1 face on a scale and then multiply that weight by 0.8 to get a multiplier.
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
For 1968 silver dimes/quarters, the multiplier is 0.375 to get asw in troy oz. The 1967 dimes/quarters where half were minted 80% pure, the other half 50% pure, the average of the two (0.4875) can be used.
This is the way the seller wants to sell it, but I think that makes the multiplier .8, which is too high.
It's 0.6 to go from face value to actual silver weight in troy ounces for pre-1967 Canadian silver and also silver dollars/halfs from 1967
that's what I thought it should be, thanks. The seller wants to do it by weight using .8 as the multiplier, but I think it should done by face value with the multiplier being .6. At least that's the way coinflation is figuring it. There's got to be a reason for him wanting to do it by weight, and it's because it works out to be more than .6 X face
<< <i>It's 0.6 to go from face value to actual silver weight in troy ounces for pre-1967 Canadian silver and also silver dollars/halfs from 1967
that's what I thought it should be, thanks. The seller wants to do it by weight using .8 as the multiplier, but I think it should done by face value with the multiplier being .6. At least that's the way coinflation is figuring it. There's got to be a reason for him wanting to do it by weight, and it's because it works out to be more than .6 X face
Yeah, you could figure it out by weighing the actual coin(s) and multiplying by 0.80 to get the actual silver content, which will be the same number. But that's not really a shorthand multiplier. The way thats seller is doing it is just to scam extra ounces!
<< <i>It's 0.6 to go from face value to actual silver weight in troy ounces for pre-1967 Canadian silver and also silver dollars/halfs from 1967.
For 1968 silver dimes/quarters, the multiplier is 0.375 to get asw in troy oz. The 1967 dimes/quarters where half were minted 80% pure, the other half 50% pure, the average of the two (0.4875) can be used. >>
Yes. One dollar face value in uncirculated pre-1967 Canadian Silver, or 1967 halves and dollars, contains 0.600 troy ounce of silver.
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
I figured that too, thanks for the confirmation. I know alot better where I need to be on it today than I did yesterday and am so glad I held off. It's so tempting to buy it all when it's all right there in front of you to say I'll take it all. If I woulda done that yesterday (figuring his way of selling it at .8) combined with todays drop, I woulda been buried in it for who knows how long.
Now I can go back to him and say...you tried jerking me over because I wasn't fully aware of how this type of metal should be bought/sold. I still want to do the deal, but for half of the way you figure it
Thanks again to all for the help...again, it's what I thought it was but just wasn't completely sure because of the seller being convincing in his pitch. Glad I stuck with my gut for a change rather than digging into my pocket the way I normally would've. Dodged one there for sure.
<< <i>Thanks guys. I'm glad that I declined the offer of the seller before finding this out for sure. It's what I thought, I just wanted to be sure. Now I'm going to hit him even harder with a counter offer because I'm going to tell him that I know for sure that he was trying to cheat me wanting to do it by weight rather than by face value. >>
Either method is fair if priced correctly at the unit being measured.
If you measure the true weight, let's say it comes out to 300 troy ounces, and multiply that by 0.8, you come up with a net silver content of 240 troy ounces. How you price it from there is up to the two of you.
If you measure the face value, let's say you have $400.00 face value, and multiply that by 0.6, you have 240 troy ounces of pure silver. Again how you price it is up to you.
But either system works.
That said, remember right now, US 90% is going for major premium. You cant get any at .715, which would be about 15X face. Its going for 20X on Ebay every time, sometimes even higher. I don't do Canadian quarters, so I don't know but maybe its going for a big premium as well.
He wanted .80, that doesn't mean he was "trying to cheat" you or "jerking" you over. I mean, every single item listed in the November precious metals buy sell trade can be purchased cheaper through APMEX. In most cases, APMEX prices are substantially cheaper than the prices people try to get on this very forum. That doesn't make people cheaters or scammers, just overpriced.
If you really still want to buy it like you say, I wouldn't come at him they way you are saying you are going to. Just make a fair counteroffer, don't call him a cheater. I mean I have seen some stuff you list for sale priced crazy high, what would you do if you got a PM calling you a cheater and then giving you a counteroffer. You would probably tell him to go to hell.
And anyways what are you going to do with these if you do buy them ? Im guessing you are going to try to sell them for the same price that he tried to sell them to you for.
1st listing
AGE random year PMO only
1 ounce ---- price here $1380 --- APMEX 1343.99
2 ( 1/2 ) ounce --- price here $1425. --- APMEX $1397.98
4 ( 1/4 ) ounce ---- price here $1480 ---- APMEX $1438.96
Even with APMEX shipping, they are still substantially cheaper. I am not sure what assumption I made, just making the point that people do tend to ask crazy sky high dreamer prices when they are selling. That doesn't make them cheaters, just unrealistic. Its not just this guy, its all over this board, EBAY, clist, etc. Seems to be rather typical. When I find a private seller looking to sell something, I would say APMEX price is cheaper than his 95% of the time.
By the way, I checked EBAY search "Canadian 80%" and they seem to be going for around 16X which breaks down to about .75. His price is high, but not that high.
<< <i>The seller wants to do it by weight using .8 as the multiplier >>
Based on this statement, the seller is ignorant/misinformed or trying to pull a fast one on a buyer. Seller is basically trying to convince POM/a prospective buyer that there is more silver in the coins than there actually is.
<< <i>
<< <i>The seller wants to do it by weight using .8 as the multiplier >>
Based on this statement, the seller is ignorant/misinformed or trying to pull a fast one on a buyer. Seller is basically trying to convince POM/a prospective buyer that there is more silver in the coins than there actually is. >>
What's wrong with weighing the silver and multiplying by 0.8 to get the total weight of silver? You can multiply this weight times spot and go from there.
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
<< <i>Oh, my bad. Disregard my last message there. I am so used to just using a 0.6 multiplier on the face value, that I read that as the seller trying to us 0.8 on the face value. No one that I know of bothers weighing the silver dollars and half dollars. Just count them up and multiply by 0.6. >>
I know a couple of dealers that will weight your junk silver coins if there are some well worn coins in the group rather than use the 0.715 multiplier. That doesn't mean that it won't still be a fair transaction.
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
<< <i>
<< <i>Thanks guys. I'm glad that I declined the offer of the seller before finding this out for sure. It's what I thought, I just wanted to be sure. Now I'm going to hit him even harder with a counter offer because I'm going to tell him that I know for sure that he was trying to cheat me wanting to do it by weight rather than by face value. >>
Either method is fair if priced correctly at the unit being measured.
If you measure the true weight, let's say it comes out to 300 troy ounces, and multiply that by 0.8, you come up with a net silver content of 240 troy ounces. How you price it from there is up to the two of you.
If you measure the face value, let's say you have $400.00 face value, and multiply that by 0.6, you have 240 troy ounces of pure silver. Again how you price it is up to you.
But either system works. >>
+1 since it seems to have been overlooked.