Dumb question - the math on 90% bags

3 posts / 0 new
Last post
madcow
madcow's picture
Offline
Joined: 06/23/2011
Hat Tips: 1403
Posts: 274
Dumb question - the math on 90% bags

So here is my dumb question of the week:

How does one do cost averaging with there silver when it also includes 90% coins?

Lets say for example one were to have the following:

1 bag of 90% 10$ value purchased for say 200$

5 generic rounds purchased for total of 200$

What would be the equation to figure out how much your "cost" is per ounce with a bag of 10$ 90% added in?

anyone? anyone? bueller?

Edited by admin on 11/08/2014 - 06:08
Eric Original
Eric Original's picture
Offline
Joined: 06/14/2011
Posts: 4235
90%

The industry standard for typically worn 90% coins is that they should melt down to .715 troy ounces per dollar face value.

Sounds to me like you've got $10 face times .715 equals 7.15 ounces for $200, and another 5 ounces for $200.  For a total of 12.15 ounces for $400.  400 divided by 12.15 equals average cost of $32.92 per ounce.

__________________

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.

madcow
madcow's picture
Offline
Joined: 06/23/2011
Hat Tips: 1403
Posts: 274
Awesome! Thanks eric-o! Right

Awesome! Thanks eric-o!

Right or wrong, that definitely helped me figure some things out a bit better and created a better outcome yes so i'll take it! hahah

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "Dumb question - the math on 90% bags"