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RE: Why you can not always trust Wikipedia! This is why teachers tell you it is NOT a source!

in #steemit8 years ago

The spot sprice for silver is in troy ounce. As in the article stated.

There are 31.1035 grams per troy ounce.

One coin does not weigh 1 oz of pure silver. They have between 0.423 oz (Tyrian shekels) and 0.361 oz (staters from Antioch) pure silver per coin.

30 coins of Tyrian shekels * with 0.423 oz of pure silver * 17.06$/oz = 216.4914$

30 coins of staters from Antioch * with 0.361 oz of pure silver * 17.06$/oz = 184.7598$

But nevertheless this method is highly inaccurate, because it just takes the today silver price, not the actual buying power. Back then 99,99% pure silver wasn't possible to make and way harder to find and mint.

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The way you said it actually makes sense. The article implies that the oz is a troy oz and using the spot price they offer there should be no range. I like your explanation a lot better, it is far more accurate. You should add that to that page, it would make it far clearer! Unless otherwise specified, I assume when someone says oz of precious metals (such as silver), they mean troy oz.

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