Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value:
$26.76 = silver price / ounce on Nov 05, 2010. .90 = silver % $3.9251 = copper price / pound on Nov 05, 2010. .10 = copper % 26.73 = total weight in grams .0321507466 = ounce/gram conversion factor .00220462262 = pound/gram conversion factor (see note directly below)
The NYMEX uses pounds to price copper and that means we need to multiply the metal price by .00220462262 to make the conversion to grams. The silver price is based in troy ounces and that means we need to multiply the metal price by .0321507466 to make the conversion to grams.
$20.6975 is the rounded silver value for the 1921-1935 silver Peace dollar on November 05, 2010. This is usually the value used by coin dealers when selling these coins at melt value. However, the total melt value is continued below.
Should have seen the gun store. Two hours to get through FDLE paperwork because they were stacked so deep. Got an M&P and a pocket Ruger myself.
Talked to manager and asked him where his cheaper safes were. They only had safes that were over $2500 on the floor. He said the lower priced ones were flying out the door, would be another 2 weeks before the cheaper nes came in. I'm telling you there had to be 150 people in this gun store and I pointed out to my neighbor that some of these people were a lot older and looked pretty affluent.....not like the old days:)