I traded a 1/5 silver round for a watermelon last week. I used a round purchased from Citizens for Sound Money. I brought along the pricing and lesson sheet below to explain to the other trader how silver pricing works. Notice: this was done without United States and was not commerce. This was trade on the land.
Here is the pricing sheet. It shows a few things:
– the price of silver is $19.91 and 1/5 raw silver is then $3.98.
– the premium to convert silver into a 1/5 round is 113% leading to a market price of $8.46 for the round.
Just like raw wood is cheaper than a wooden desk, so is raw silver cheaper than a silver round that has been designed, minted, and sent by post.
The price a 10-pack of silver rounds fluctuates with the spot price of silver naturally. I paid $75 on July 23, and now, on Aug 13, the price is $83. Because the dollar value fell and/or the value of silver rose.
Above I noted that the purchase was done without united states and that means not within United states. Within United States, such as DC and Puerto Rico, there are many codes and statutes about trading.