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Silver ... way off topic

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doctorj

doctorj

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Hi all.

In to my possession has come a significant number of old round australian 50c pieces. I have paid face value for the coins with the intention of selling them for their silver content. Based on my calculations (assuming 13.28g per coin @ 80% silver @ about USD$7 per ounce) each coin is worth approx USD$2.60.

Many of the coins aren't in collector quality condition so I don't believe it possible to sell them above smelt value.

I've seen many coins in comparable condition sell on ebay for about AUD$3, but they are far too numerous for me to be bothered with that.

Has anyone had experience with this or shall I put it in the too hard basket and take them to the bank?
 
Are you sure they have silver in them?

Who is going to buy the silver?

How are you going to remove the impurities from them?
 
" (assuming 13.28g per coin @ 80% silver @ about USD$7 per ounce) each coin is worth approx USD$2.60. "

That can't be right or everyone would be melting down their coins.
 
That's exactly why they stopped using them.

The new 50c pieces (someone correct me if I'm wrong) began post 1966 and contain mostly copper and nickel - no silver whatsoever.
 
mime said:
" (assuming 13.28g per coin @ 80% silver @ about USD$7 per ounce) each coin is worth approx USD$2.60. "

That can't be right or everyone would be melting down their coins.
Click to expand...

it's the same way with Australian nugget gold coins. The 1 ounce coin is legal tender and has a face value of $100, yet has a bullion vlue of ~ $600
 
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