Buying Junk Silver?

[EBounding]

Does anyone buy "junk silver" on a regular basis as an investment or SHTF scenario? I like the coins instead of bullion because they're familiar to people and it looks like they're easy to sell. I also just think they're more interesting.

I bought some pre-1965 quarters, dimes and silver dollars recently off eBay. It's been more of a curiosity since I found the silver dollars my grandma gave me when I was a kid. So I don't really consider it a real investment right now, just something I hope preserves its value and can give it away to kids in the family as gifts. My main concern is it doesn't look like it will ever be legal to melt down the coins for profit.

I'm satisfied with what I have right now but I might buy a little bit every other month going forward. Any pitfalls or recommendations to doing this?

[oyarde]

Does anyone buy "junk silver" on a regular basis as an investment or SHTF scenario? I like the coins instead of bullion because they're familiar to people and it looks like they're easy to sell. I also just think they're more interesting.

I bought some pre-1965 quarters, dimes and silver dollars recently off eBay. It's been more of a curiosity since I found the silver dollars my grandma gave me when I was a kid. So I don't really consider it a real investment right now, just something I hope preserves its value and can give it away to kids in the family as gifts. My main concern is it doesn't look like it will ever be legal to melt down the coins for profit.

I'm satisfied with what I have right now but I might buy a little bit every other month going forward. Any pitfalls or recommendations to doing this?

I buy a little about every week . I give probably 1/3rd of it to the kids and grand kids , resell about 1/3 rd and keep the rest . I sold quite a bit last time silver was around 30 . Mostly I buy pre '60 halves , pre '46 dimes and pre '32 quarters and then Morgan dollars that are not junk silver . As far as I know the only coins illegal to melt are Nickels and Cents .

[oyarde]

Rolls of 90 percent silver dimes were being sold for around 61.50 at my local coin shop last week . No tax . At this mornings spot price , it would be the same now .

[oyarde]

It turned out to be a good investment for me . What I sold around 30 , much of it I bought 4 1/2 to 9 . Much of what I have now was bought when spot price was 15 to 17 ( 17 now ) , some of it higher. When it gets back to 40 or 50 or so ( it will first time the stock market takes a big drop I imagine ) I might sell some more . Much of it I intend to just leave after I am gone , let someone in my family benefit from at a later date . I consider it like a savings account . A savings account you pay no taxes on and one that is not paper and will inflate as the paper inflates .

[EBounding]

It turned out to be a good investment for me . What I sold around 30 , much of it I bought 4 1/2 to 9 . Much of what I have now was bought when spot price was 15 to 17 ( 17 now ) , some of it higher. When it gets back to 40 or 50 or so ( it will first time the stock market takes a big drop I imagine ) I might sell some more . Much of it I intend to just leave after I am gone , let someone in my family benefit from at a later date . I consider it like a savings account . A savings account you pay no taxes on and one that is not paper and will inflate as the paper inflates .

Thanks for all the info and for clarifying the the melt law.

Mostly I buy pre '60 halves , pre '46 dimes and pre '32 quarters and then Morgan dollars that are not junk silver .

Any reason why you prefer pre '46 dimes and pre '32 quarters?

[Matt Collins]

Commodities are not an investment, they are speculation. And a lot of times they are not even that good of a hedge against inflation.

However it is a good idea to keep some precious metals handy in small denominations in case of a SHTF scenario.

[oyarde]

Thanks for all the info and for clarifying the the melt law.



Any reason why you prefer pre '46 dimes and pre '32 quarters?

Three reasons really , I like them better . They are universally recognized as 90 percent silver without checking dates or flipping on the edge to look for the copper sandwich and some are worth a little more than the junk silver price. Also , sometimes you can make a deal on 1965 to 1969 halves , they are 40 percent silver and lots of people really do not like them . About three 90 percent halves are about an ounce , my local shop often sells 40 percent halves by the ounce for under spot . There are a couple guys who buy them there for under melt . They buy them at around 1.55 to 1.75 and sell them around 1.75 - 2.00 . They actually are 40 percent to 1970 but those will not turn up because they had to be purchased from the mint . The '65 - '69's were circulated to Banks .

[oyarde]

Commodities are not an investment, they are speculation. And a lot of times they are not even that good of a hedge against inflation.

However it is a good idea to keep some precious metals handy in small denominations in case of a SHTF scenario.

It is just lower risk speculation than paper stocks and other paper investments that have no hedge or upside in the event of downturn or currency problem .

[oyarde]

Gold and silver are just the least risky speculation other than land since I guess all other speculation is really just paper . Land though has property tax .

[oyarde]

Thanks for all the info and for clarifying the the melt law.



Any reason why you prefer pre '46 dimes and pre '32 quarters?

1945 was the last year for Mercury dimes and 1932 was the first year of the Washington quarter . From 1892 - 1916 the dimes , quarters & halves are called Barber design . The Mercury dime ran 1916 also to 1945 . The Standing Liberty quarter ran also 1916 to 1930 , you will likely not see any of those with a date remaining except 1925 - 1930 . If it is 1917 - 1924 and you can read the date and it has no damage likely worth 10 dollars and up depending on the date. In 1925 they recessed the date a little so they did not wear off so easily .

[Matt Collins]

It is just lower risk speculation than paper stocks and other paper investments that have no hedge or upside in the event of downturn or currency problem .

Stocks, and bonds, are not speculation if done correctly, they are investments.

And stocks will work as a hedge against inflation because companies have to raise prices on what they sell.

[fedupinmo]

Three reasons really , I like them better . They are universally recognized as 90 percent silver without checking dates or flipping on the edge to look for the copper sandwich and some are worth a little more than the junk silver price. Also , sometimes you can make a deal on 1965 to 1969 halves , they are 40 percent silver and lots of people really do not like them . About three 90 percent halves are about an ounce , my local shop often sells 40 percent halves by the ounce for under spot . There are a couple guys who buy them there for under melt . They buy them at around 1.55 to 1.75 and sell them around 1.75 - 2.00 . They actually are 40 percent to 1970 but those will not turn up because they had to be purchased from the mint . The '65 - '69's were circulated to Banks .

I lean the other way, because the older ones tend to be more worn, meaning less actual silver.
I do like the Mercury dimes and SL quarters though. Sexy coins...
I have some art rounds that are replicas of old coinage in 1 oz. size, sadly my Mercury one has a scratch IIRC.

[oyarde]

I lean the other way, because the older ones tend to be more worn, meaning less actual silver.

That is a point . I have seen rolls of uncirculated 1962 - 1964 dimes bought and sold as junk silver ( they really list at 25 to 50 cents ea more in the Grey Sheet by roll ) . There is certainly no metal worn off of those

[oyarde]

Stocks, and bonds, are not speculation if done correctly, they are investments.

And stocks will work as a hedge against inflation because companies have to raise prices on what they sell.

I already have you down to buy me a couple beers once you make your first million .

[gaazn]

Can't really go wrong with junk silver unless you thinking about opportunity cost

[oyarde]

Not sure I understand what is meant by opportunity cost .

[EBounding]

I ended up buying some Morgan silver dollars and pre-1965 Washington Quarters and dimes off eBay. I showed them to family members and it's fascinating to see their reaction to the distinctive silver "clink" compared to modern quarters and dimes. I didn't get a whole lot, but I might get some more in the future.

[oyarde]

I ended up buying some Morgan silver dollars and pre-1965 Washington Quarters and dimes off eBay. I showed them to family members and it's fascinating to see their reaction to the distinctive silver "clink" compared to modern quarters and dimes. I didn't get a whole lot, but I might get some more in the future.

Congratulations on joining the exclusive Silver Barons club . Most people have no real money . To put that in perspective , even Zip has some real coin .

[shakey1]

The market price on silver has been undervalued for a number of years... sure to jump at the next bubble burst. The gold-silver ratio has also been much higher than the historical average (40 to 1 vs an average of 15 to 1), so may be due for a substantial correction. I try to buy 'junk' silver coins from time to time while prices are low... aside from being a good investment, I just like 'em.

[angelatc]

I don't buy much, but in my business occasionally bits of silver come to me. 99% of what I get is plate, but the other 1% I usually just keep.

[osan]

Does anyone buy "junk silver" on a regular basis as an investment or SHTF scenario? I like the coins instead of bullion because they're familiar to people and it looks like they're easy to sell. I also just think they're more interesting.

I bought some pre-1965 quarters, dimes and silver dollars recently off eBay. It's been more of a curiosity since I found the silver dollars my grandma gave me when I was a kid. So I don't really consider it a real investment right now, just something I hope preserves its value and can give it away to kids in the family as gifts. My main concern is it doesn't look like it will ever be legal to melt down the coins for profit.

I'm satisfied with what I have right now but I might buy a little bit every other month going forward. Any pitfalls or recommendations to doing this?

I buy things like sterling spoons when I can get them cheaply. I also have a fair to middling collection of "junk" fountain pens. Besides my calligraphic proclivities, shops sell them cheaply, particularly when they are not complete. Most of them have 14K-18K nibs, the values of which are substantially higher than the $5-$10 I pay for them.

Another SHTF commodity to have on hand is tobacco... and ammo.

If I had a vagina, I'd be set.