What is average circulation. I’m under the impression that coins are either circulated or non-circulated.
And non-numismatic collectable is contradictory isn’t it? Gold and Silver Coins, minted by governments, have numismatic value. Correct?
“non-numismatic collectable”
...what I mean is not the rare certified collectible coins...
...just regular old average circulated coins...
“...coins are either circulated or non-circulated...”
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There are various grades of circulated coins...
I think he means don’t buy the coins for their premium, but rather for their metal content. People pay fat premiums over the value of the metal to get coins with little to no circulation (little to no scratches and dents etc). Those are only good for collectors not for people who just want the metal.
Some do, some don't.
So called bullion gold and silver coins are minted by governments - American Eagles, Canadian Maple Leafs, UK Britannias, etc but they have no numismatic value, they are only worth their gold or silver content, despite what the ads in American Rifleman and other "conservative" publications suggest. Then there are "restrikes", also minted by governments - Austrian 4 ducats, Hungarian 100 korunas, Mexican 50 peso, etc but they are not rare and also have no numismatic value.
American gold and silver coins minted before 1933 or 1964 MAY have numismatic value, depending on rarity and condition, but Chinese counterfeits have gotten very good and most "rarities" advertised in "conservative" magazines and on conservative websites are not rare and have a small value over metal content.
On the other hand, a 1793 chain cent, face value $0.01, was sold at auction in 2008 for $126,500.
Buying "collectible" coins is highly speculative and the market is riddled with fraud. Most people who play in that market are suckers. I've been a coin collector since I was ten and it's a great hobby but a foolish investment.
If you are thinking of buying bread with silver, use old US coins in circulated condition - but remember, once that becomes a necessity (if that ever happens), allowing even the baker to know you have silver can and probably will threaten your life and the lives of your loved ones before the sun goes down.