Junk silver in the form of Pre-1965 US Coinage. From top left: Silver dimes in paper 2 x 2 holders, a roll of dimes and a mixed-loose lot of half dollars, quarters, dimes and "wartime" nickels.
Posted on 10/31/2020 4:32:49 PM PDT by blam
Do you have a flashlight, spare batteries and some duct tape stashed away for home emergencies like power outages or hurricanes? Of course you do. How about 100 ounces of silver coins? If not, you should.
In an extreme social or infrastructure breakdown — where banks, ATMs and store scanners are offline — silver coins might be the only way to buy groceries for your family. This is one of many reasons why sales of silver coins and bullion are set to skyrocket.
The upcoming election and its aftermath could witness social unrest that would make this summer’s chaos look downright tame. We might not even know the winners for several weeks after the election. Things could get very ugly.
If that happens, shortages will appear and the price of silver could soar to $60 per ounce or higher from current levels of about $25 per ounce.
As you know, I write and speak frequently on the role of gold in the monetary system. Yet, I rarely discuss silver. Some assume I dislike silver as a hard asset for your portfolio. That’s not true.
In fact, in an extreme crisis, silver may be more practical than gold as a medium of exchange. A gold coin is too valuable to exchange for a basket of groceries, but a silver coin or two is just about right.
Silver is more difficult to analyze than gold because gold has almost no uses except as money. (Gold is widely used in jewelry, but I consider gold jewelry a hard asset, what I call “wearable wealth.”)
Silver, on the other hand, has many industrial applications. Silver is both a true commodity and a form of money.
This means that the price of silver may rise or fall based on industrial utilization and the business cycle, independent of monetary factors such as inflation, deflation, and interest rates.
Nevertheless, silver is a form of money (along with gold, dollars, bitcoin, and euros), and always has been.
“The Once and Future Money”
My expectation is that as savers and investors lose confidence in central bank money, they will increasingly turn to physical money (gold and silver) and non-central bank digital money (bitcoin and other crypto currencies) as stores of wealth and a medium of exchange.
This is why I call silver “the once and future money,” because silver’s role as money in the future is simply a return to silver’s traditional role as money throughout history.
(snip)
Junk silver in the form of Pre-1965 US Coinage. From top left: Silver dimes in paper 2 x 2 holders, a roll of dimes and a mixed-loose lot of half dollars, quarters, dimes and "wartime" nickels.
Silver is a commodity (like gold). Commodities do not do well against a strong US dollar index - which it is.
Maybe, maybe not.
There’s one thing that’s certain about silver - in 1964 a silver US quarter would buy you a gallon of gas. Today that same silver quarter will still buy you a gallon of gas. I expect this will continue to be the case for the foreseeable future.
Give that 90% silver quarter to the gas station attendant and demand a gallon of gas. He will laugh at you. A quarter is a quarter, regardless of its silver content.
Unfortunately my local gas/beer station doesn’t seem to take junk silver.
junk silver bookmark
nope. ammo will be the currency.
If the author is right about massive civil unreast, you could just buy silver futures in an Ameritrade or Tradestation, etc. Or short the S&P index futures.
I’m sitting on 2600 ounces that I bought some years back at a bit over $11/ounce.
Would not mind tripling my money.
I will take the things I’ve made from silver and make small sterling ingots. The made things no longer sell.
Isn’t there a shortage of coins?
“How many years are the silver pumpers going to do this?”
Amen
Back in the old days, this was called “front running” and was illegal in the securities industry.
Troy ounces, yes?
Do you have it physically with you or on paper?
I know, right?
They’ve been telling us that for 20 years.
Right now the best metals investment is in lead, copper and brass in various calibers.
I got a 1909S Barber quarter last week in change at the local pump and munch.
Worth a whole $4.
I stand corrected - a quarter is indeed just a quarter. If anyone wants to send me all of their tarnished old pre-1964 quarters and dimes I will cheerfully send you back crisp dollar bills for those exact face-value amounts. I’ll even pay postage!
My point was that prior to 1964 American coins had intrinsic value. The value of a 1964 silver quarter now is pretty much exactly what it was in 1964 - $3.50 in today’s money. A 1965 quarter made from nickel and copper is still worth 25 cents.
silver has been hanging around 23-24 for a week or two. Was up to 28-29 a few about a month ago. Sold some years ago for around 40. That is when you sell a fork or spoon or two. Will be interesting to see what happens. At $30 a roll of pre 1965 quarters is worth $217.
👍 I've heard red dots aren't too bad of an investment either.
Silver is a small market. If it can be played like a ponzu scheme, it can go to the moon.
Otherwise.....pffft
-30 yr finance career
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