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circulated silver as bullion
konsole
Posts: 788 ✭✭✭
If I was to invest in silver by collecting junk or well circulated common date silver, then would it be wise to clean up the coins so they have no foreign material on them that might ruin the silver over time, or should I just leave the decent coins alone, for whatever numismatic value they have, and just clean up the bad condition ones?
Also do you guys have any idea how much silver is lost in a coin thats been in circulation for say about 50 years?
Also do you guys have any idea how much silver is lost in a coin thats been in circulation for say about 50 years?
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NSDR - Life Member
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As to the metals loss: I've posted this pic before. One respondant (cladking, maybe?) said that most of the what appears to be metal loss is actually the flattening out of the raised rim. That may be true, but I am convinced that 1,000 AU-BU 1964 Kennedy halfs will have several ounces more silver in them than 1,000 G-F Walkers. With silver bumping up to $14 per ounce, that should be a consideration.
One stack of 20 G-VF walkers vs. the same number of AU-BU Kennedys:
--Severian the Lame
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
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NSDR - Life Member
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<< <i>How about weighing the two stacks on a precision scale? >>
Brilliant! Now if I only had a scale
--Severian the Lame
Don
<< <i>FWIW most bullion dealer websites quote 715 troy ozs as the silver content of $1000 of circ US coins-they had 723 troy ounces of pure silver at minting.
Don >>
OK. So they are claiming just a little over 1% silver loss. Interesting. Naturally, the real number would be dependent on the time in circulation.
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its remarkable, actually, that webpage after webpage lists that 715 oz figure. I seem to recall reading that a circ bag of halves weighs more than a mixed bag as halves on average circulated less. here's the certified mint page
Don
Admittedly, my scale wasn't exactly "precision", but the difference in both cases was in the 2%-3% range. Given the large number of later date (and therefore higher grade) coins likely to turn up in "junk" silver bags, the 1% figure mentioned above seems reasonable.