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 Replies: 24 / Views: 3,971 |
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Pillar of the Community
United States
1454 Posts |
Anybody ever consider this? Figure out the exact metal weight of your total PM holdings in pounds instead of ounces? When I did the math, that's what what the final number amounted to: 58 lbs! Of course, that's just the actual silver weight, without adding in all those impurities. I daresay the total coin weight would be perhaps 15-20% heavier. It just goes to show that even a fair to middling pile of silvery metal can quickly gather some real heft. For the people who buy silver by the monster box, the weight involved could quickly escalate into the five or even six digits. Think about that: 100 to 1000 lbs. of PMs resting in one's safe. I'd hate to have to lug it around in a true emergency; perhaps a house fire, or even the approach of a wildfire in the distance. In my region of the US, we have to contemplate floods, mega quakes, tsunamis, and mudslides, along with the aforementioned wildfires. Perhaps the occasional tornado. It makes it a lot easier to understand why some people prefer the shiny yellow over over the more cumbersome silver.
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Bedrock of the Community
Australia
21788 Posts |
Is that Troy pounds or Avoirdupois pounds? They ARE different.
A troy pound used uith PM's is 12 ounces, an avoirdupois pound is 16 ounces.
Also, the mass of the troy ounce is different from the mass of the avoirdupois ounce.
The packaging adds mass as well as volume.
Personally, as PM investor, the poured bars appeal to me most. Much less room required in your safe as well.
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Pillar of the Community
United States
3670 Posts |
My entire PM stash weighs about as much as a REAL FAT Cornish hen.....
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Pillar of the Community
United States
808 Posts |
I've had similar thoughts myself, traevin. Ag is a great investment/insurance policy for all the reasons we've discussed before. However, it's lack of portability in any significant quantity *requires* a certain degree of market and political stability to remain a practical store of wealth for tough times. If times start to look too tough, as in "get out of Dodge" tough, it might be time to move from Ag to Au.
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Pillar of the Community
United States
808 Posts |
Quote:
My entire PM stash weighs about as much as a REAL FAT Cornish hen..... Missed this earlier...  That would still be one very nice and high quality Cornish hen! |
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Pillar of the Community
United States
4008 Posts |
Very nice hoard, Traevin. I did the same calc and got 63.7 Av lbs. This does not count the 100 Maples that are on the way.  |
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Pillar of the Community
 United States
1454 Posts |
Hah! I know you're going to pass me quite soon but for now, I did the math in Av. lbs. and I'm sitting at 69 lbs. But something seems off to me. I'm thinking maybe my math is incorrect because we're about even in ounces. 929/12= 69.125
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Pillar of the Community
United States
4008 Posts |
Yeah, I am at 929 ozs. now but will soon have 100 more. I converted my Troy ozs. to Av. ozs. via a rough 1.1 multiplier and then divided that number by 16 to get Av lbs. Did I do that right?  |
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New Member
United States
38 Posts |
929 troy oz /31.1 g/oz = 28,892 g
28.892kg * 2.2 lb/kg = 63.56 lb
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Pillar of the Community
United States
4008 Posts |
OK, Fredd. Thanks for the confirmation. Plenty close enough for gubmint work. |
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Pillar of the Community
United States
1454 Posts |
Yep. I see what went did wrong. Thanks, Engineer. I'm a better writer than a mathematician, that's for sure. I was so far out of practice that I recently bought a college textbook called Understanding Elementary Algebra. I just re-familiarized myself with the acronym, PEDMAS, which I'm sure a lot of you remember from primary school. It's hard to do algebra without at least applying that simple rule. Math is like any other language. If you don't use it you lose it. I took four semesters of college Spanish, two of Italian, and one of Latin, and I swear I barely remember a quarter of it now.
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Pillar of the Community
United States
4008 Posts |
Yes, language is especially tricky. I still remember most of the math I took but the Spanish and German are fleeting without practice. I can still read some of them but it is more and more difficult to understand it when rapidly spoken.
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New Member
United States
38 Posts |
Speaking of being a better writer than a mathematician, I'm the opposite. I did the math correctly in the above example, but wrote it down wrong.
Here's the correct formula: (my above example divided by 31.1 g/oz rather than multiplying)
929 troy oz * 31.1 g/oz = 28,892 g
28.892kg * 2.2 lb/kg = 63.56 lb
To keep things simple, I generally just try to think in grams so I'm not always converting. In terms of US junk silver it makes the math pretty easy since $1.00 face is exactly 25 grams. That makes $100 face 2.5 kilos or 5.5 pounds.
Edited by Engineer
04/27/2012 05:53 am
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Bedrock of the Community
Australia
21788 Posts |
Trust an engineer 'to chime' in with an accurate reply....... I kind of baited you a little bit, expecting your answer!
Well done!
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Pillar of the Community
United States
3294 Posts |
Well then I have around 11 lbs (not including my numismatics of course). I have not bought much in a while since I think silver is too high priced. I expect it will drop, but then I have been thinking that for more then a year now, so I might be wrong.
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Valued Member
United States
230 Posts |
I'm only at 3.5 pounds, still cornish hen territory.
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Replies: 24 / Views: 3,971 |
Posted 04/20/2012 11:03 pm
