Silver coins?

[Fiat Currency]

Re: Silver coins?

Umm, How do I put this POLITELY?

Ah, yes. "You'd have to get within 1600 meters first"

Ah - I love the smell of a .50 BMG round first thing in the morning :eek:

[charliebrown]

Re: Silver coins?

i have been using apmex. They used to have some of the best prices over spot, and best shipping rates. I have noticed shipping go up. I may have to shop around again to see if they are still competive.

Apmex has bags of old u.s. silver coins. I assume that in a high inflation scenario, the price of basic goods will rise about the same as the price of silver. Therefore if I can get 8 loaves of bread for and oz. of silver today, the same ratio will exist in the future. Therfore I do not have to worry about a silver dollar not being small enough for daily transactions.

I am thinking the old silver coins is the way to go too.
1) they are easily recognizable.
2) will silver be confiscated with gold if it comes to that, maybe not.
given its low monetary density ($100K is 5000Oz silver). Not very
portable or conceilable, therefore not the perfect medium for sub-rosa
transactions.
3) Can silver coins be mascaraded as a coin collection and not
subject to confiscation as say a bullion coins?
4) How do I know the purity of generic silver rounds?

[Marek]

Re: Silver coins?

Make friends at one or more local shops.

100oz bars of recognized provenance for store of wealth - they are dense, and a practical unit for modest wealth.

1 oz bullion coins for transactions - they are highly liquid and the legal tender status is a theoretical save from confiscation.

Avoid the ugly and unknown - less liquid and the premium saved is small if you are buying smartly.

[slippery]

Re: Silver coins?

When I first started buying silver, I only bought government issued bullion.

Since then, I've come around to 90% junk US coins. My preference is half dollars, but any denomination will do. If you live in Canada, go for 80% silver Canadian coins.

I think silver government issued coins would be easier to barter with than bullion or generic rounds and bars, but that is just my opinion. People are not going to have the ability or desire to assay a 10 or 100 oz bar.

During the 1970s oil embargo, there were a number of gas stations that would take US silver coins at a favorable exchange rate over paper.

Lets hope none of us ever faces a SHTF scenario.

[Master Shake]

Re: Silver coins?

Calling all Bulb-Meisters:
I would ask your advice concerning the best "on hand" silver coin to purchase. These would be used in a TEOTWAWKI situation as well as investment against the bankster $ devaluation in the next few years. What should I buy guys/gals??

First of all, use this site to determine the melt value of any numismatic coins.

http://www.coinflation.com/coins/sil...alculator.html

If you want to buy "junk" siver, i.e. old 90% silver US coins, you can always find good deals on eBay. especially if you use a) Bing Cashback for large purchases , and b) one of the rebate companies like eBates.

I would also check your local Craig's list, and local auctions. I've picked up 90% silver coins for under spot before at auctions (even with buyer's premiums). This is a great site for searching for auctions in your area.

http://www.auctionzip.com/

Good luck.

[grapejelly]

Re: Silver coins?

you can buy 90% "junk" silver below spot, at spot, or above spot, depending on the sentiment. The premiums or discounts are fascinating. Y2K time, a huge premium. About 2 years ago, significant discount. Why a discount? It's too much bother to smelt them, I suppose.

I love junk silver. It is recognizable, cheap enough, and divisible. And it has a ready market and always will. I don't like bars like 100oz because they can be drilled and filled.

[jimmygu3]

Re: Silver coins?

you can buy 90% "junk" silver below spot, at spot, or above spot, depending on the sentiment. The premiums or discounts are fascinating. Y2K time, a huge premium. About 2 years ago, significant discount. Why a discount? It's too much bother to smelt them, I suppose.

I love junk silver. It is recognizable, cheap enough, and divisible. And it has a ready market and always will. I don't like bars like 100oz because they can be drilled and filled.

How is junk silver recognizable? The US Mint has been rolling out counterfeits for the last 45 years! I can see jtabeb's point about Mercury Dimes, as they look very different than modern Roosevelt dimes.

I think in any scenario where you are able to safely exchange silver coins for goods and services, there will also be plenty of ways to make change for silver eagles and maples. That's what I hold, though I may get a small bag of Mercurys just to have all my bases covered. Dimes would be nice if you're buying food, but pretty inconvenient if you're making a large purchase.

In the end it is a bit of a semantic difference, kind of like carrying hundreds instead of twenties in your wallet. While it's always nice to have a few smaller bills, the most important part is whether you have any money at all.

Jimmy

[thriftyandboringinohio]

Re: Silver coins?

How is junk silver recognizable? The US Mint has been rolling out counterfeits for the last 45 years!

Each coin has a date on it.

[metalman]

Re: Silver coins?

Each coin has a date on it.

for some reason i found this the funniest post on these forums for years.

[thriftyandboringinohio]

Re: Silver coins?

for some reason i found this the funniest post on these forums for years.

Thanks. I couldn't help myself; he asked.

[ocelotl]

Re: Silver coins?

I prefer the ones on my signature, the Libertad ounces are easily available and recognizable around here, the fraction are harder to get and have higher premium. For junk silver I'd go for coinage that is also recognizable over here and with low premium:

- Original Pesos (¿Aguila o sol?) and fractional coinage before 1909
- Silver Centenario
- 5 Pesos Cuauhtemoc
- Pesetas, and somehow the coins of 1950-1 look special, like the tostón, the peso, and the 5 pesos.
- 10 Pesos Hidalgo
- Olímpicas

* Edition *

Forgot to add:

- The original silver ounce coin: Coin Press and Scales
- The old Libertad ounce
- Morelos

The point here is that most of the coins mentioned also have the silver weight in them, so that there's no confusion on what are you holding.

[thriftyandboringinohio]

Re: Silver coins?

I have 3 bags of 71.5 Oz for just this purpose. (That's about 3000 dimes, btw, and YES, I counted them).


The premium is High on these for the reasons stated above. Worth it for the reasons stated above, IMHO.

I like junk silver coins as well. Your comment makes me realize I've never weighed them. Do you know if the normal wear of circulating (or the ancient larceny of “sweating” coins) has reduced the average individual coin weight? Has anyone done a sample study?

[jimmygu3]

Re: Silver coins?

Each coin has a date on it.

Touché. I was not aware of that. ;)

The point (which seems to be obvious only to me) is that if you buy a week's groceries for $10 face value junk silver, it is a big pain in the ass to check the date on 40 quarters or 100 dimes. It would be worse than paying for groceries today with 100 one dollar bills (imagine checking dates on top of counting). Paying with 7 silver eagles and a few junk coins for spare change would be much preferred.

Jimmy

[thriftyandboringinohio]

Re: Silver coins?

Touché. I was not aware of that. ;)

The point (which seems to be obvious only to me) is that if you buy a week's groceries for $10 face value junk silver, it is a big pain in the ass to check the date on 40 quarters or 100 dimes. It would be worse than paying for groceries today with 100 one dollar bills (imagine checking dates on top of counting). Paying with 7 silver eagles and a few junk coins for spare change would be much preferred.

Jimmy

Sorry to have a little fun at your expense.:p
Recall that we're discussing scenarios for TEOTWAWKI. Given a sudden stop or other major meltdown, it's not so inconvenient compared to the basic situation of everyone using different alternative money (how many 12 guage shells or 30-06 rounds are worth a silver quarter or a loaf of bread?). Plus the coins themselves are easily recognized at a glance without actually reading the date. There is a subtle difference in color and reflectivity for the old silver coins that anyone can recognize with just a few minutes practice.

[Fiat Currency]

Re: Silver coins?

There is a subtle difference in color and reflectivity for the old silver coins that anyone can recognize with just a few minutes practice.

... and sound. Real money has a unique sound

Personally I'm 100% Maples for Silver. The new tubes hold 25 coins (about $500 here) and when you buy 500 ounces you get the nice Mint Yellow Stackable Box that holds 20 tubes. One box equates to enough money for at least 1 year's groceries for a family of 4. :cool: Oh - and we play Hold'em with them too - added bonus