This is the best answer that I found on the internet. Someone asked a similar question. I cut and pasted the answer from the following link:
https://answers.yahoo.com/question/...21010AAH1FPA Best Answer: Be careful here. These are not coins. They are private-issue medals made to look like
Morgan silver dollars.
And here's where you need to be careful. There are people selling these on sites such as
ebay who are either dishonest or ignorant. They either are intentionally misrepresenting what they have or don't know any better.
Some of these are actually one Troy pound of .999 pure silver. One Troy pound is 12 Troy ounces weighing 31.1 grams each. It is NOT the same as the avoirdupois or 'regular' pound with 16 ounces that have 28 grams. Yet there are sellers who have the lighter, less silver Troy pound claiming it has 16 ounces. People who hear the price of silver in the news but don't know the difference can drastically overpay.
There are also certain versions of these medals out there that DO weigh one avoirdupois pound, 16 ounces. But what you get is one pound of copper with maybe ten or
Twenty Cents worth of .999 silver plated over the copper. Dishonest sellers play up the silver part and downplay the copper, to make you think you're getting something really great for your $50 or more. You're not. You're getting about $3.37 worth of copper along with those pennies worth of silver.
A genuine Troy pound silver medal is the price of 12 Troy ounces of silver, plus no more than a 10% premium to a collector or someone looking for bullion. The silver alone is worth close to $385 as of today. $425 is pretty much the top price.
Now, if you go check
ebay sold auctions, you'll see one that is only marked 'one pound', and the seller doesn't say anything other than it's a pound, that sold for $550. Whoever bought is going to be real unhappy the day he goes to sell it and is told there's only 12 Troy ounces of silver. So you have to know what you're doing when you deal in these medals.
Posted 09/19/2016 9:03 pm
To the CCF!
