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?
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.
Awesome! Thanks eric-o!
Right or wrong, that definitely helped me figure some things out a bit better and created a better outcome so i'll take it! hahah