Replies to post #239419 on Simply Politics & News (GOV)

[IxCimi]

HELL YEAH!

That's why I say, "Fuck 'em!"

$8175 in income equals 32,700 silver quarters at a .25 cent face value in 1963.

Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value:

$27.27 = silver price / ounce on Jul 13, 2012.
.90 = silver %
$3.4866 = copper price / pound on Jul 13, 2012.
.10 = copper %
6.25 = total weight in grams
.0321507466 = ounce/gram conversion factor
.00220462262 = pound/gram conversion factor (see note directly below)

The CME uses pounds to price copper and that means we need to multiply the metal price by .00220462262 to make the conversion to grams. The silver price is based in troy ounces and that means we need to multiply the metal price by .0321507466 to make the conversion to grams.


1. Calculate 90% silver value :

(27.27 × .0321507466 × 6.25 × .90) = $4.9317219787


$4.9317 is the rounded silver value for the 1932-1964 silver quarter on July 13, 2012. This is usually the value used by coin dealers when selling these coins at melt value. However, the total melt value is continued below.

2. Calculate 10% copper value :

(3.4866 × .00220462262 × 6.25 × .10) = $0.0048040

3. Add the two together :

$4.9317219787 + $0.0048040 = $4.9365259787

So, $4.9365259787 is the total melt value for a 1963 silver quarter on July 13, 2012.

Times each 32,700 1963 quarters that made up a $8175 income back then, would equal an income of $161,423.55 today.

Yet the 2012 average household income is $52,500. A HEFTY net loss...

Are we being fucked OVER the system?

You betcha!