Tea Party Liberty Dollar

[Unidyne]

Yep, old Nuthouse is at it again, plugging a copper "Tea Party" Liberty Dollar that is described as "minted in Uncirculated condition, measures 39mm in diameter and contains one avoirdupois ounce of pure copper."

Let's see now. Copper is around $2.80 a pound, which would be about 17.5 cents an ounce. One of his Liberty Dollars sells for $1, which is a loss for the buyer of 82 cents.

Of course, you can't buy them yet, but he is accepting advance orders. In fact, Nuthouse claims he sold 60,000 in 24 hours.

P.T. Barnum was right...

Read it and weep: http://www.libertydollar.org/ld/teapartydollar

[Brandybuck]

To be fair, no one is buying this for monetary purposes, they're buying them as memorabilia. There's lots to bash on Nuthaus about, but selling copper medallions for a dollar isn't one of them. Heck, if I thought he would actually deliver, I might just buy a bunch to give out as Christmas gifts to the tea partiers I know.

[fortinbras]

Did he actually say an avoirdupois ounce??

Then he's actually cheating his customers more than I had previously thought (and I was sure he was charging them nearly double the market value of silver). Now I know he is definitely robbing them blind.

Silver and gold are commonly weighed by TROY ounces, not avoirdupois. The avoirdupois ounce is only about 91% of a troy ounce. So he's definitely charging his customers at least double the true market price of silver.

[LPC]

Silver and gold are commonly weighed by TROY ounces, not avoirdupois.

Which is the solution to an old trick question: Which weighs more, an ounce of gold or an ounce of feathers?

[fortinbras]

Silver and gold are commonly weighed by TROY ounces, not avoirdupois.

Which is the solution to an old trick question: Which weighs more, an ounce of gold or an ounce of feathers?

The trick question was usually "... a POUND of gold or a POUND of feathers..."

Why? Because this makes it more of a trick

Because although troy ounces (31.10 grams) are a bit weightier than avoirdupois ounces (28.35 grams), Troy pounds are only 12 troy ounces (373.2 grams), while Avoirdupois pounds are the familiar 16 avoirdupois ounces (453.6 grams). This makes troy pounds lighter weight than avoidupois pounds (troy pound = 82.27% of an avoirdupois pound). So a POUND of feathers (measured in avoirdupois) weighs 80.4 grams more than a POUND of gold (measured in troy).

Have I bored everybody yet?

[Evil Squirrel Overlord]

I'm dizzy. Also If I knew he would deliver I might buy a Libby for collector sake.