this post was submitted on 24 Nov 2024
179 points (99.4% liked)
InsanePeopleFacebook
2660 readers
3 users here now
Screenshots of people being insane on Facebook. Please censor names/pics of end users in screenshots. Please follow the rules of lemmy.world
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
a quarter is made of .9 oz of silver?
No, what the sovcit attached is called a bullion coin. They usually have a nominal value, so they are official legal tender and you can pay with them in a store, but their actual worth is basically the price of the precious metal they are minted from (+collector's value for some coins) which is usually much higher. 0.9 troy ounces of pure silver are around $28.
It is the coin holder's duty to liquidate the coin before payment, so the sovcit basically just scammed themselves and gave their coin away for the nominal value (although it will likely be returned as this letter will not be accepted for obvious reasons).
That’s not a bullion coin, it’s just a pre-64 quarter. It’s about $20 in silver, depending on spot price.
I collect coins, not silver, and these are not special in any way. I sell them for melt value to buy better coins.