The Silver Value equation calculates Jeweler's Buy Price for silver based on the current value refined silver in U.S. dollars
INSTRUCTIONS: Choose the preferred units and enter the following:
Silver Value: The calculator returns the value in U.S. dollars. However this can be automatically converted to other currencies via the pull-down menu.
The Value of Silver Alloy is four step process:
The result is the price that can be given to the seller of the metal while paying the refiner and making the profit identified.
The weight can be in Troy ounces, pennyweight or grams. vCalc converts the weight into Troy Ounces and then fetches the current spot price for an ounce of silver. It then multiplies the weight of the pure silver content against the spot price and scrap discount percentage to give the silver's value. discount(scrap) = 1 - scrap
Note: scrap free and profit are both a percentage.
SPOT comes from /www.xmlcharts.com/cache/precious-metals.xml