Each coin page calculates the silver value based on current (or recent) silver price, like already stated above, then on your collection page your silver coins prices are added together, the weight of your silver coins (total weight of coins made of silver) not just the silver content, then the silver value from the page of the coins you have.
The price isn’t calculated from the weight on the collection page, but from the data on individual coins in your collection, as coins have different silver content.
I hope that is correct as I am assuming the simplest way of calculating the correct value of a collection.
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