This short video may help you with what is happening with precious metals.
NOTE❗️ Part two follows - don’t end video.
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So at last count, I had about 22 pounds of silver coins (pre-1964) in a safe place. Also have some old sterling silver sets I've picked up at flea markets and yard sales over the years. So I'm not sure how an ounce of silver compares to an ounce of anything else like you'd buy at the grocery store, like say goat cheese. I think there is some special units of measure that metal traders use, but I'm not familiar with it. So 22+ pounds of silver would equate to what in dollars at this time? Spot silver price is $25.58 / oz., but is that the same ounce as we use in daily measures? Anybody know?
Silver coins are 90% silver so you need to multiply your total spot price by .9 to get actual price.
OK, thanks....also just found out that metals are traded in "troy" ounces, which is a little more than a standard ounce that we are familiar with.
There is a website with this type of data.
It compares the price of goods and services in England of the year 1300 or so.
https://thehistoryofengland.co.uk/resource/medieval-prices-and-wages/
Thanks!
Troy Ounces to Ounces table
Troy Ounces Ounces 1 t oz. converts to 1.10 oz
😀.
The silverware, all marked "Sterling," comes from various silversmiths going back to the early 20th Century. I'd have to dig them out of storage to find brand names, but I believe sterling silver, in order to be marked as such, had to contain a certain percentage of silver. But that's just some added pieces, and I don't count them in the stored 22 pounds of coins I have.
Thanks for the definition of the 'ounce'.... good to know.
In a pinch 925 silver or what you have can be used for BATTERING. One silver spoon for say meat or cheese etc. or even bullets. Many preppers have the means of melting down ‘scrap’ silver, ie coins before a certain time, flatware, jewellery etc and converting it to pure silver in ingots. Many videos of it on YT. And I bet most of you would know someone that makes their own ammo. I have no idea about how a silver furnace works, but here is a video.
https://youtu.be/Ovj5NIhsWI8
I would imagine that you would be pretty popular if you had one of these. 😀
You know, I've actually thought about that, making my own bars, because silver (and gold too) has a low melting point. But then it got me thinking.... how does one control the quantity in an ingot, one might go over or under a set amount, like a gram or an ounce. And then dealing with others who have their own setup, one might not be able to trust the purity and quantity of ingots from someone else.
So for consistency and known, trusted, and widely accepted barter, I finally figured would stick with coins and ingots I already have from trusted sellers.
For example, if the going price for say 10 gallons of gas was a silver half-dollar (or whatever) then it's an easy transaction. Thanks for the suggestion, but I'm thinking I should stick with known and trusted values.
It's 14.5 troy ounces to 1 pound.
If my math are right. 22 pound is 319toz minus 10% is around 7300 bux at 25.50toz
Yeah, I had just worked that out and came up with a similar answer, so thanks!
Right now 90% constitutional is going for 21.00ish per 1.00 face value.
Morgans and peace dollars are 25.00ish and up.
Metals use Troy ounces. The troy ounce is the equivalent of 31.1034768 grams, whereas the ounce is the equivalent of 28.349 grams.
AHA! I could NOT come up with the word "Troy" ounce. So then I'd have to calculate based on that... mmm, ok, thanks.