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Trump hawks $100 commemorative coins in latest hunt for cash
(www.theguardian.com)
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this post was submitted on 23 Sep 2024
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So the coins weigh 1 oz, and are, for all intents and purposes, 1% silver? According to a quick google, silver is worth $31.07 an ounce today. So these coins have 3.1 cents worth of silver in them.
And he's selling them for $100 each.
Or is the decimal used differently here because the Guardian is British and in this context it means 99.9%?
In that case it's $31 worth of silver sold for $100, but that seems a downright generous investment when it comes to Trump merchandise, so I'm still guessing it's 3 cents worth of silver.
When you see "1 oz of .999 fine silver" that means it's almost pure silver. 1.0 would be 100% pure. This is 99.9% pure.
https://topvegasbuyer.com/blog/the-truth-about-999-u-s-silver-coins/
You can also get .9999 silver.
Except, the article has it in quotes:
“1oz .999% silver medallions”
Which suggests to me they are quoting the announcement.
Given the nature of the person selling them, it would be safer to assume they want you to believe the percent sign is misplaced so that you buy it, but then when you realize it's less than 1% silver you can't get your money back.
I checked out the website and it says 1oz .999 silver. Melt value of about $35. Still a grift but not that bad.
Yeah that’s in quotes too like they got it from him or his posts announcing these. I’d say it’s a typo which he is really good at.
.999 silver is common phrase to put on rounds but can be referred to as 99.9% too so someone probably typed it up wrong and combined them.
I would question the purity too though until I see them tested properly. There are other companies making clad Trump rounds and trying to sell them as high value collectibles especially gold plated ones.