800 grams of silver / 32.15 to make oz X 33.05 AUD spot = ~$821 24% premium IMHO buy 1oz 2012 kooks P.s maths is not my strong point so could be many and varied errors in there
Cheaper from WDavis by > $100. You're in Melbourne too, makes it so much easier and cheaper to just buy from them. http://www.wdavis.com.au/live-price-list.html
1kg of 1966 50c is 75 coins (13.28 gm per coin, 0.3416 oz silver content) Spot value @ $33 per Ounce (Aud) = $845 (25.62 Oz of silver content). Throw on the average premium of the 1966 being between 50c to $1 per coin and I get a rough valuation of $882 to $920 @ $33 spot price. I personally wouldn't be paying the $2.40 premium per coin in the $1023 quoted price. The 1966 is a common bullion coin and has no real numismatic value (unless it's in Bu condition) IMHO. Hope the info helps.
I guess what you've said was ambiguious because i took what you wrote to mean a 1kg ASW of 66 50's for $1023 (thats 97.5 50's so maybe only 97?) Given that spot is $1063 its a tiny fraction under spot (or they havent updated the 10c increase this morning.) - id say its a good deal.. esp given spot is at a good low level. The question is, do you want 50's or something else? 1for1
1for1 - The price quoted would be on the full coin weight, not the silver content. Dealers generally sell 'per kilo' coinage as per total weight of the coinage, not the silver component specifically. It's pretty much industry standard to operate this way. In the case of the 1966 50c coins, the 'total weight' would fit just a shade over 75 coins into 1 kilogram, of whilst the silver content would be 80% (or 22.62 troy ounces) & not a kilogram of silver content. Makes a lot more sense when you're dealing with pre-decimal coinage because there's a number of different coin sizes between 3p up to Florins which are different by physical weight, but share similar silver purity (depending on the year). So a mixed 1kg bag of pre-war coinage will have any random number of different coin types, but the total weight of the bag will be 1 kilogram exactly with the cost calculated on the silver content (92.5%) + premium. Yes, that means you get the copper component of each coin for 'free' in most cases, although you can argue the coin premium covers that as well - it's generally only a couple cents at most per coin anyway. Hope that makes sense.
"is $1023 a good price for 1kg of 1966 50 cnt pieces??" let's make it simple answer: No, under current SPOT price.
