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Is this silver?

Singha

Tenderfoot
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May 16, 2010
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Minelab Excal 800, Sand Shark
I found this piece ( I hope Silver ) in a beach in South Fl. that has produced gold and silver. the day was perfect with flat seas and low tide. I found this in knee deep water about 6 inches down. the weight and color feel right and I tested with a magnet and it passed - I'm new to this and I appreciate any info on how to tell if this is some old Spanish silver
 

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