This file available for download as SILVER.ZIP

  Here are some short notes on silver.
  A "junk" silver coin is a silver coin that is only worth the silver in it.
Due to either lack of scarcity or wear it has no numismatic value as a rare
coin.  A typical "junk" silver coin is the US pre-1965 quarter.  A "$1,000 bag
of junk silver coins" is a bag of junk silver coins whose face value adds up
to $1,000 - example 4,000 quarters, 10,000 dimes, 2,000 halves.  Quarters and
then dimes are the most common with halves usually selling for a slight
premium.  Silver dollars sell with a significant premium.
  Up to WW2 silver was around $0.50 per ounce.  At this price a $1,000 bag
would be worth $361.69 (for just the silver content).  From WW2 to 1962 the
price was between $0.80 and $0.90 per ounce. At $0.90 per ounce a $1,000 bag
was worth $651.03.  From 1963 to 1972 silver was around $1.25 to $1.75 an
ounce with a spurt up to $2.50 in 1968 dropping back down to $1.75 from 1969 to
1971 touching $1.50 in Feb. of 1972. In Oct. 1972 the second bull market in
silver began at $1.80 and didn't stop until Oct. 1974 peaking at $5.25.  From
1974 to 1977 Silver varied from $4.25 to $4.75.  Then in Dec. of 1977 the third
bull arrived at $4.75 and didn't stop until Jan. 1980 where it peaked at an
all time high of of $38.27 per ounce.  From that peak it proceeded to stabilize
at about $12 to $17 per ounce from April 1980 to March 1981.  From there it
crashed in more or less a straight line down to $5.50 per ounce in June 1982.
One month later the bulls took over and bid it up to around $13 per ounce for
the first half of 1983. Then in Oct. of 1983 the bears took over and silver
went down to around $5.50 in 1986 where it stayed until the first quarter of
1977 when the most recent bulls took over to top it at $8 an ounce in 1987.
Currently (May 88) silver is selling for $6.32 per ounce which makes a $1,000
bag worth $5,000, a silver half $2.50, a silver quarter $1.25, and a silver
dime $0.50.
    For reference here are some figures on that $1,000 bag of "junk" silver
 $/ounce   bag worth
 $00.50      $361.69
 $00.90       651.03
 $01.50    $1,085.06
 $04.50     3,255.17
 $05.25     3,797.69
 $08.00     5,786.96
 $13.00     9,403.81
 $35.00    25,317.95
  Now please note that bags of silver always cost a little more than this due
to sales tax, transportation, dealer premium, etc.

    Below is a brief summary of information on metal coins.
    U.S. pennies were made of copper before 1982 with some made in 1982.  Since
copper is a non-precious metal you use avoirdupois, not troy measurement.
A copper penny weighs 48 grains of 95% copper.  1 penny = 45.6 grains of
copper and 2.4 grains of tin.  100 pennies = 4560 grains or 0.65142 pounds of
copper this yields a rough face value of $1.54 per pound of copper.  In other
words, copper would have to be $1.54 per pound for the copper in 100 pennies to
be worth $1.00.  This does NOT include the cost of melting, purifying, etc. so
this is not really what they are worth.
   Since silver is a precious metal you use troy (Apothecaries) weight instead
of avoirdupois.
   U.S. dollar coins 1935 or older were 900 fine ( 90% silver) weighed 412.5
grains, contained 371.25 grains of Ag (silver) = .773437 ounces of Ag.
   U.S. nickels from 1942-1945 were 350 fine (35% silver). $1.00 worth of them
weighed 77.16 grains, contained 27.006 grains Ag = .0562625 oz Ag.
  US Kennedy half dollars 1965-1970 were 400 fine (40% Ag).  $1.00 worth of
them weighed 354.8 grains, contained 141.92 grains Ag = .29568 ounces Ag.
  US dimes, quarters and halves 1964 or older were 900 fine (90% Ag).  $1.00
worth of them weighed 385.8 grains, contained 347.2 grains Ag = .72337 ounces
Ag.
  Canadian silver coins 1937-1967 were 800 fine (80% Ag).  $1.00 face value
contained 288 grains Ag =.6 ounces troy Ag. = .05 pounds troy Ag.
  The price of silver based on the face value of the coins would be this:
 US dimes, quarters, halves 1964 or older    $1.38
 US 1942-45 nickels                          17.77
 US Kennedy halves 1965-1970                  3.38
 US dollar 1935 or older                      1.29
 Canadian silver coins 1937-1967              1.67

 1 pound Avoirdupois = 16 ounces Avoirdupois = 7000 grains
 1 pound troy (apothecaries) = 12 ounces troy = 5760 grains
 175 pounds troy = 144 pounds Avoirdupois
 1 gram = 15.432 grains
 1 troy ounce does NOT equal a Avoirdupois ounce.

Please note that all of the above prices are NOT adjusted for inflation.
Since 1 - 1967 dollar has the same purchasing power of 3 - 1984 dollars you

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