Seems to me, if the spot price for .999 is $30/oz, then .925 spot (if there were such a thing) would be $27. Correct? Or am I missing something (apart from possibly the ability to do simple maths)?
yea its correct but ppl would always take 999 if spot was the only consideration. Theres always a bit less to pay for 925
0.075 copper But may contain other elements to make special alloys like germanium which creates Argentium tm etc.
If this was the case, why do some 'junk' silver actually trade at a slight premium above spot. For their fractional value?
Presumably, aesthetic appeal or the rarity of a piece, or perhaps a particular manufacturer will attract a premium. For example, a .925 Georg Jensen piece would certainly attract a premium, one, because it's Georg Jensen and, two, because it's probably beautiful. (Not all 'junk' is junk, ya know!)
IMO, yes. For a SHTF scenario. 2 scenarios: A. You want to buy a loaf of bread. All you have is a 1kg bar/coin. Change? B. You want to buy a loaf of bread. You have a pocketfull of Aussie pre-decimal coins. Easy.
A lot of people. A bakery gives you access to a commodity with value. People need a food source and a bakery offers one. In addition, during the rationing of World War 2, Bakeries had unlimited access to sugar. In a time of crisis, commodities are king and a bakery would be a star performer in a SHTF situation.
The silver alloy most likely contains 7.5% copper which actually makes the coin itself much harder and less prone to wear & tear. Some coins are heavier so as to contain exactly one troy ounce of fine silver. A good reference for coins is "World Coins" by Krause & Mishler ( a book about the same size as a telephone directory but 7cm thick with over 2,200 pages ! ) I picked up a secondhand copy, 2004 issue, recently on Amazon for about $25 including shipping from the USA. For each silver coin ( 1901-2004 ) this reference will state the actual silver content - ASW. On e-Bay you can often pick up a 0.925 sterling silver, usually proof coin, for marginally more than the spot price of the actual silver content. Seems to me a bit of a bargain whilst often receiving very pleasing-looking coins. I'm sure when it comes to selling you would get the ASW price as bullion. Many people don't understand sterling silver so bargains are out there. Many e-Bayers however are confused between sterling silver and fine silver and get their ounces confused so I find K&M an invaluable reference and have picked up many great deals recently. There are of course auctions to avoid with crazy prices and equally crazy buyers so be informed and do your research. Hope this helps.
Apologies for this noob question. With regards to Sterling Silver jewelleries for example. Are they as valuable as say the fractional silver coins?
Sorry for the noob anwer! Aesthetic value aside, I reckon the value of .925 jewellery (without provenance) would be less than currency. A lot of '.925 jewellery is of dubious metal content, while .925 currency can be relied upon (presuming it's not fake!) to be just that. Of course, .925 is .925, but without proper testing, I'd be suspicious of a lot of .925 jewellery I see around the traps.
