Shipwreck Silver Find. - Coin Community Forum

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Author	Replies: 4 / Views: 1,195
gord Valued Member Canada 279 Posts	Posted 07/24/2012 02:35 am how would a huge silver find in a sunken ship affect world silver prices? or would it? I think its like 48 tons and thats only about 20 percent of it so far found off the coast of ireland. cheers Report this Post to the Staff

traevin Pillar of the Community United States 1454 Posts	Posted 07/24/2012 03:00 am Too small of an amount, relatively speaking. There must be 10's of billions of ounces in the world supply. Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21788 Posts	Posted 07/24/2012 09:21 am To bullion prices? Four fifth of five eights of absolutely zero difference. 20 to 25 THOUSAND TONNES of new silver are mined annually around the World. Add to that what is recovered by the recycling process. May have a tiny effect on the rare coin market for that particular type of coin. Report this Post to the Staff
gord Valued Member Canada 279 Posts	Posted 07/24/2012 11:45 am K Thanks guys It sure sounded like a lot to me ! Still does :P Edited by gord 07/24/2012 11:47 am Report this Post to the Staff
Sap Moderator Australia 16830 Posts	Posted 07/24/2012 6:07 pm Quote: May have a tiny effect on the rare coin market for that particular type of coin. Assuming we're talking about the same haul of 48 tons, then most of the silver in that particular find is in silver bars, not in coin form. So there'll be no effect on numismatic prices. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis Report this Post to the Staff
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