1966 50c coins question

[yarmak]

All

Australian 50 Cent coins were issued in 80%  silver and 20% copper.

Weight: 13.28 g per coin

The coin has approx 9.7 grams of silver -Ive  rounded up to be clearer

Looking at the latest price I could find silver is worth  $1.01 per gram. Which means the silver value per coin is approx $9.80  - again Ive rounded up the price a touch to be clearer

I understand about coin 'grades' and that better quality ie less used coins can be worth more. However 99% on ebay are not graded and are worth the silver content value only

So the coins, with a face value of 50c and a silver value of $9.80 are selling for $15 to as much as $25 per coin

My question is why? these are not rare and are in fact very common so rarity is not the factor

thanks

Dave

[twyngwyn]

have a look here....is this for real?

Rare 50c coins Australia: How your spare change can make you $800 | news.com.au — Australia’s leadin...

[yarmak]

I read that article...I call bulldust....especially over the years used coins wear down... how do you really know whether this is a minting mistake or simply worn down over time and the article makes no clarification over used or not used and the ones in the example are badly scratched

Probably someone trying to inflate the price to make more from the ones he has

Ive seen it happen for books and other collectables before

Dave

[papermoon.lady]

Well, the article calls him a "self-proclaimed expert". At any rate the maximum price found online for coins or anything else is not necessarily its "value". It is just the price sellers are trying to sell it for.

[numismatichemist]

These coins contain roughly 1/3 of a troy ounce of silver. So the general ballpark silver content is, whatever the silver spot price is, divide it by 3, And right now, silver price is indeed just over AU$31 per ounce, giving the coins about $10 in silver.

I can only assume that the people paying $15 each for these coins are gambling that the silver price is going up. If people are actually paying AU$45 per ounce for silver, then that's the "true price of silver" in the current market, whatever the paper value says.

[davewil1964]

especially over the years used coins wear down

Yes, Dave, but those coins weren't circulated much. They were withdrawn as soon as they were deposited in a bank after the error in metal value was realised. Few would have any notable signs of wear or erosion of silver content.