BUYING SILVER - 1 TROY POUND SILVER EQUALS 12 TROY OUNCES
BUYING SILVER - 1 TROY POUND SILVER EQUALS 12 TROY OUNCES
One Troy Pound is equivalent to Twelve Troy Ounces.
REPEAT - One Troy Pound is equivalent to Twelve Troy Ounces.
Most of know that there are 16 ounces is a pound in the common avoirdupois system.
Few of us know that there are 12 Troy ounces in 1 Troy Pound.
Be Careful When Purchasing a Troy Pound of Silver
I've seen a bar of silver stamped with One Troy Pound. I saw that the price 'seemed' to be calculated as 16 Troy Ounces. It 'seemed' like a good price, but it is NOT a good price because there are ONLY 12 Troy Ounces in One Troy Pound.
You can easily find items online for sale labeled with One Troy Pound. Usually, the description does NOT say anything about the amount of silver in Troy Ounces. While literally accurate, the sale is being misleading because 'newbies' expect to be buying 16 Troy Ounces when buying One Troy Pound.
TWELVE SWEET AMERICAN SILVER EAGLE COINS
I know that we all want to see the clear picture of the sweet, sweet, 12 Silver American Eagles coins.
BUYER BEWARE - Buy A Scale and Weigh Your Silver
Whenever you buy silver anywhere, if the item is One Troy Pound, then ask to weigh the item. Even some people buying and selling silver are not aware that the Troy Pound is 12 Troy ounces. I had someone 'honestly' calculate a one troy pound bar at $2 over spot price times 16. I asked the seller to weight the item, which displayed as 12 Troy Ounces. I was very please to get a fair price for the One Troy Pound bar of silver, based on $2 over spot price times 12.
My Four Troy Ounces Bar is NOT A Quarter Pounder
The silver bar that I posted yesterday was a very cool Bison Ten Dollar bill in Silver, which is Four Troy Ounces of Silver. However, it is NOT a Quarter Pounder.
- by @goldkey
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Thanks for the great info!
Thanks, I'm just passing it on. . .
Thank you for your continued support of SteemSilverGold
I recommend Everybody SUPPORT @ssg-community and #SteemSilverGold
Okay have to say this because it is the most important thing right now.
"I know that we all want to see the clear picture of the sweet, sweet, 12 Silver American Eagles coins." - Words this true were never spoken before, here on steemit.
A GREAT WAY to display ONE TROY POUND of American Silver Eagle coins.
Another day, another piece of knowledge. I didn't know it. Thank you.
We've got to keep passing on the knowledge. I did not know and I am glad that I have an honest dealer at my Local Coin Shop. I learned this about 2 years ago.
And an avoirdupois oz weighs 28 grams. A troy oz weighs 31.1. Always dropping some good knowledge @goldkey. Thanks for sharing.
Right! True! The first step of stacking is to learn that a Troy ounce is more than an avoirdupois ounce. Thanks for giving the gram weights for these.
Good info goldkey! I too was unaware of this ratio.
😎👍
I know you are always grabbing ounces, bars and rounds, so now you are ready to get some Troy Pounds :)
Cheers @thedamus
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@goldkey Ohh brohter. Your silver coin collections are really awesome and special.
Scales can be very important to measure Weight, just like U.S. Coinage will become very important in measuring the Value of Silver Ounces... It's all part of my latest post... I bet you've never thought of Coinage as a TOOL before...