Pocket Change Peculiarities: Fine Silver Ounces

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I don't have massive stacks of silver. I do have a few ounces though. I just bought these two silver coins at a local shop the other day and thought I would share them with you.

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On the left is an Austrian Philharmonic, and on the right is an American Silver Eagle. Each are .999 fine silver bullion coins weighing one Troy ounce. I had hoped to also buy a Canadian Maple Leaf, but the shop was out of those. Eventually my budget and coin shop inventory will coincide.


Tangent time! Metal weight units get weird fast. Let's be honest, the metric system does have some advantages...

A Troy ounce (≈31.10 grams) is 1/12 of a 5,760 grain Troy pound, while the Avoirdupois ounce (≈28.35 grams) people usually use in US/UK weight measurements are 1/16 of a 7,000 (formerly 6992) grain pound. At least they share the same base unit. A grain is an ancient apothecary unit equal to about 0.065 grams, and is named for the weight of a grain of barley. Of course, barley grains were unlikely to be consistently uniform, but were apparently deemed "good enough."

And now you know!


With that peculiar diversion aside, back to the coins! The backs of the coins, in fact. The reverse of these coins each show a monetary designation. Let's take a look-see...

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The Philharmonic is marked as 1.5 Euros, and the Eagle is one dollar! In my previous Pocket Change Peculiarities post about the US Dollar, I left out this latter coin because obviously it doesn't actually circulate for a dollar. As I type this, silver is in the USD $15-16 range. It's almost like our paper money is devalued by inflation, and silver is undervalued compared to where it might be if it were in demand as money... strange...

Government mints are not the only producers of silver coins, although they are usually referred to as rounds or medallions when minted by any other business or organization. Governments claim the word coin for their monopolized legal tender, so private mints and silver dealers use other terms to avoid legal trouble. I have a couple such rounds, one of which calls itself a "silver trade unit." Both weigh one Troy ounce, and these have an interesting tarnish patina. edthecanadian@edthecanadian posted about a lost and found silver round with such a patina, and that inspired this entire post. BLAME HIM, NOT ME!!!

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Of course, neither these rounds nor the government-issued coins above are going to turn up in actual pocket change any time soon, but there are communities that use silver for barter, and there is a small possibility that silver rounds and junk silver coins could build an economy in the event of a currency collapse. Nonetheless, future posts in this #PCP series will return to actual oddities of circulated coinage.

Happy stacking, no matter how small your silver stacks!

Pocket Change Peculiarities: Fine Silver Ounces | Ecency