Author Topic: Silver exchange conversion  (Read 1449 times)

Offline Steve C.

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Silver exchange conversion
« on: January 18, 2015, 11:11:37 AM »
I was talk to a silver guy this weekend and we worked out a few conversion rules for different silver if/when you need to buy/sell or trade your goods for real money or your savings for real goods. Keep in mind these are approximate and are used for convenience in smaller daily transactions NOT for buying, selling or trading 500 oz monster box of silver eagles! The conversions don't really take into account premiums or markups that dealers charge when selling retail.

A 1 oz silver round is $1.40 in 90% pre-65 coin or $3.50 in 40% 65-70 1/2 dollars
One dollar in 90% pre-65 coinage is $2.50 in 40% 65-70 half-dollars

The numbers you need to remember: 1.4, 2.5, 3.5:

Like I said, this is approximate. So if you purchases/bartered for a number of items here's how it works out:

If the sale was $9 in silver eagles (9 oz) and all you had was a 10 oz bar the other side of the trade should give you $1.40 in 90% coin or $3.50 in 40% coin change.
If the sale was $9 in 90% coin & you paid with 10 oz bar ($14.00 in 90% coin) you could pay them $5.00 in 90% coin or $12.50 ($5*2.5=$12.50) in 40% coin.
If price is 4/oz but you only need 3 (& have 1 oz) you get .25oz * 1.4 which is $.35 in 90% coin. (in 40% coin it's $.88 so you'll get over or under paid in change)

Feel free to print this out and stick it in a file, and yes, I sometimes have to much time on my hands.  ;D
« Last Edit: January 18, 2015, 11:17:47 AM by Steve C. »
Give them your teeth, not your belly.