More Mercury

As I’ve said before, buy on the dip days.  On 6/27 silver dipped below 34 again and so I bought a few more Mercury Dimes.

I wanted to share another piece of advice for the beginners.  I’ve  updated the chart 2011-06 Junk Silver Calculator that I posted the last time I talked about silver.  The addition is a column to estimate the face multiple.  Often the price in a coin shop will be discussed as “X times face” or something like that.  It behooves you to know what that means so that you know if you are getting a good deal or now.  I kept a printed copy in my back pocket for reference.

Before I left the house, I confirmed that the close of trading in New York was around $33.50 per ounce.  I knew that 90% silver should be sold at 24.23 times face value.  Some quick math will tell you exactly how many coins you should expect for the amount of cash you want to pay.

With a little experience, I’m sure this will become second nature.

Thanks, Robert.


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