Silver hangs on while gold sinks

Silver was noticeably more resilient Sept. 7 when gold was hammered for a $55.70 daily loss in New York Mercantile Exchange trading. After testing highs over $1,900, just over 24 hours earlier, gold closed Sept. 7 at $1,814.20 a troy ounce. Silver, on the other hand, which saw its record highs near $50 in April, fell just 24.2 cents to $41.57 a troy ounce.

Author:
NMN
Publish date:
Sep 8, 2011

Silver was noticeably more resilient Sept. 7 when gold was hammered for a $55.70 daily loss in New York Mercantile Exchange trading.

silver170

After testing highs over $1,900, just over 24 hours earlier, gold closed Sept. 7 at $1,814.20 a troy ounce.

Silver, on the other hand, which saw its record highs near $50 in April, fell just 24.2 cents to $41.57 a troy ounce.

At current silver prices, the value of the precious metal in a standard silver dollar is $32.15.

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Each of the old dollar coins struck 1935 and earlier contains 0.7734 ounces of silver.

For $1 face amount of pre-1965 dimes, quarters, or halves, the value is $29.72, or 29.72 times face value.

The lower denominations are slightly lighter than the silver dollar, at 0.723 ounces per dollar. Dealers calculate a wear factor and use 0.715 as the average silver weight per dollar of face value for the dimes, quarters and half dollars.

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