I have 13 avoirdupois pounds of Canadian coins that are dated before 1968. These are all from the Canadian Mint. What can you give me for these? – From Bridget in Maine
Thank you for your inquiry. Depending on circulation, for Canadian coins up to the year 1967, the silver content was 80% silver by weight. During the year 1967, the silver composition of circulating coins was reduced from 80% to 50%. As such, coins were minted that look identical, but are composed of either 80 or 50 percent silver. If any of your coins are dated 1967, then the silver content could vary and the estimate quoted below would be different.
Based on the day we receive your shipment at our refinery, we return 80% of the N.Y. Comex Spot market based price of Silver per troy ounce. As of right now, the Spot price of Silver is $17.33, per troy ounce. There are 14.583 troy ounces to every Avoirdupois Pound. Based on this, here is the process that we use to calculate payment.
FIRST TO FIND THE FIND SILVER CONTENT
13 lbs. x 14.583 troy ounces = 189.579 troy ounces x 80% silver content = 151.66 troy ounces of fine silver content
151.66 troy ounces x $17.33 Spot = $2,628.27 x .80 = $2,102.62, your return, had we received your coins today at the refinery.
Thank you for your question. Please contact us if you would like to send us your material.
* Please keep in mind that we are not a coin dealer and cannot give estimates based on the value of collectable, rare or vintage coins. As a precious metal refiner, we only give estimates based on the weight of items and the amount of precious metal available for recovery.
* Blog estimates are given on a case by case basis and are not Arch’s final settlement price. Any prices or estimates in blog articles are based on the precious metal prices at the time of the post and can change on a daily basis as the price of precious metals change.
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