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Add up junk silver to $1 face value = 1 troy oz silver?

27K views 13 replies 12 participants last post by  onealx4  
#1 ·
Someone told me today if you add up the face value to $1 of any combination of junk silver coins that it equals 1 oz of silver. Is this true?
 
#8 ·
Here are the accepted values in the 90% silver market:

$1 face value WORN 90% silver coins = 0.715 Troy Ounce silver
$1 face value MINT 90% silver coins = 0.7234 Troy Ounce silver

You can buy 90% silver or "junk" silver in $1000 face value bags which is where this disparity is more significant. If you are negotiating prices with your local coin shop dealer, this can be helpful information. If you are only buying an ounce at a time and the dealer wants to sell worn coins at mint price it might be a good faith gesture to pay the little bit extra. Local coin shops are the best place to buy silver so it is good to establish a healthy relationship with the owners.
 
#11 ·
Was curious about this myself a while back and this is what I found. As per Google:

Any combination of 90-percent silver U.S. coins which have a face value of US$1.00 contains 0.715 troy ounces of 99.9-percent silver (0.7234 troy ounces if uncirculated), except for the silver dollars (Morgan and Peace) which contain .7736 troy ounces of silver.

In other words, a full troy ounce of 99.9-percent silver is contained in any combination of 90-percent silver U.S. coins which have a face value of US$1.40.

90% coins total weight: Dime=2.5g Quarter=6.25g Half Dollar=12.5g

Makes sense.