To successfully trade silver and not get ripped off you need a few pieces of info you should learn and memorize.
First, 1 Troy Ounce of silver = 31.1 grams
Secondly, 1 ounce [troy] = 1.097 regular ounce. Troy ounces are just a little bigger than the regular ounce.
The main measurement for silver when quoting or being quoted is the Troy ounce. You can see that it is a little larger than the typical English/American ounce.
The next number to remember is crucial and easy:
All USA pre-1965 dimes, quarters, and halves are made from a 90% silver 10% copper alloy. $1.40 face value (FV) of US junk silver coins has ( 1.0127 troy ounce) the near equivalent of 1 ounce of pure silver (if melted down and copper separated) . The difference between the 1 troy ounce and the decimal 1.0127 is negligible. When silver is $33 per troy ounce you're looking at only a $0.42 (in funny base metal money) discrepancy. For instance, everything else being equal, you could trade (2) Franklin or (2) 1964 Kennedy halves plus 4 silver dimes and your $1.40 in junk silver could be traded for (1) American Silver Eagle ( 1 troy ounce .999 pure silver) as the amount of silver would be virtually identical.
Botton Line : Just remember $1.40 FV in junk silver coins = 1 Troy Ounce Silver Eagle.
For more crucial number crunching help and fun go to Coinflation.com. Great site with articles and a website that continually tracks the silver price and gives you updates on how much your silver coins are worth from a strictly silver content standpoint. Note: This article is not for coin collectors looking for errors or Proof and/or Uncirculated coins. All we care about in this article is silver content only! The site is hooked in with eBay, so they can tell you how much your $10 face value Franklin half roll is worth in silver, how many ounces the roll contains, and approximately how much you can expect to be paid by the winning bidder. Usually +5% to -5% of current melt price as a rule.
Fun Fact: 90% silver US coins made for circulation were made with 10% copper to form a alloy that was tougher and more wear resistant than a pure silver coin. The Silver American Eagles are beautiful coins made from .999 pure silver, and are therefore softer and more prone to wear if handled excessively. Of course, it was known upfront that although the Silver Eagles are an official US Dollar, very few mental defectives have ever tried to buy a candy bar at 7-11 with one. Why? Because typically you'd rather give a cashier a crappy piece of paper money worth inherently zero, to handing over a coin currently containing $33.39 in silver content along with a near $3.00 fee per coin tacked on as a common premium for these beauties.
Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below):
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