Monday, May 30, 2011

What is Junk Silver?

Junk Silver in the numismatic circle refers to worn circulated silver coins. These are circulated worn coins and do not have any collector value BUT, the value lies in the silver content. The price of junk silver is now commandind a small premium about spot. It used to be cheap. You could get them below spor price but not anymore .Junk silvers can still be found in pocket change. Keep collecting because Silver price is still going up. Jefferson nickel does not have any silver. Only those "Wartime" (1942 (partial) -1945) and it has only 35% silver. But continue looking. That's part of the fun. You might want to try the flea market for a bargain. Have fun ,all nickles and dimes before 65 have silver in them Only war nickels (1942-1945) has 35% silver. And they silver is bounded with magnesium (?) makes it harder to extract the silver, most buyers wouldn't mess with them.
Best deal is pre-1965 dimes, quarters, half dollars, Morgan & Peace dollars and the 1964 Kennedy halve dollar all 90% silver.The 40% Kennedy & Eisenhower coins are good, just takes more of them. I got burned a lot starting out buying coins.

Why buy Gold and Silver vs Holding Dollars

Why buy Gold and Silver vs Holding Dollars Some basic information as to why people are converting some of their dollars to physical gold and silver. It explains some basic history of gold and why printing money out of thin air is helping physical gold and silver go up in value.I look around on the prices among well known companies.(NWT, APMEX, Kitko, etc, etc..) I've noticed MANY would cost us HIGH in total. MOST has minimum order like $1000.00 or 50 oz, plus some time S/H charge. Then depending on your payment method, your bank will also charge you their service fee. Today the spot price is about $43/oz. It would cost you about $60 / total. If you buy them from eBay or flea Market, got to watch out since so many Chinese fakes are going around.

Our nation is the largest debtor nation with over 14.3 Trillion dollars in official debt. The only move our government can do is to inflate away our debts. We print so many dollars that the money eventually becomes worthless. Inflation is bad for creditors, but good for debtors. If we deflate the currency, economic growth will slow down. Foreclosures and Bankruptcies would go up. Our nation has past the point of no return. The best thing we can do is to prepare ourselves.