Quote:
Lets face it if the price of silver goes much lower we might as well use it to mint coins...lol..it will rebound in time.
Well, silver is UP over 28% in the last six months.
OK, so a 90% silver
Washington quarter has $3.59 worth of silver in it. That is about 14 times face.
To be able to mint 90% silver coins again, where there is less silver in the coin than the coin's face value silver would have to decline to --- under $1.50 per ounce.
To calculate yourself,
A 90% silver quarter has 0.1808479 troy ounce of pure silver.
Max price per ounce = face value of coin / troy ounces in coin
Max price per ounce = .25 / .1808479
Max price per ounce = $1.38
When silver exceeds $1.38 per ounce, then there is more value in silver than the face value of a US quarter dollar.
When silver exceeded $1.29 the government decided to quit making 90% silver coins.
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