Question: “I have recently inherited a silver coin collection and the coins have “one troy ounce, .999 fine silver” written on the back of them. What does troy ounce mean, and how much can I expect to get from each of them?” – From Hayden in Portland, Oregon
Thank you for sending us pictures of your troy ounce silver coins. Silver is unique in that, because it is a universal precious metal, there is a standardized measuring method that is used for determining its worth. The American version of ounces does not equate to a troy ounce, which means that when precious metal items are refined or sold they must be weighted and assessed in troy ounces. A great way to determine the difference between a troy ounce and an average ounce is by using our Silver/Gold calculator.
The daily troy ounce prices for silver as well as other precious metals are determined by the New York Comex, and thus fluctuate daily. So if you should decide to send in your silver coins for refining, know that we will be able to give you the silver Comex price for the day we receive them not the day of shipment.
Here are some quick conversions for you:
1 troy ounce = 1.09714286 ounces
1 pound = 14.5833333 troy ounces
Review our shipping materials and packing slip should you decide to send us your silver coins.
Your question was greatly appreciated, thank you Hayden!
*Images displayed are only a representation of the items described in this blog post and may not be true images of the items in question.