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Junk Silver Hoarding

 
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3769 Posts
 Posted 10/09/2019  05:31 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
There's nothing wrong at all in stacking a little silver, but it's worth pointing out that 10 cents invested in the S&P 500 in 1964 is worth $3.50 today. $17.63 with dividends reinvested.
Except that silver is a commodity, and not truly considered an investment. If SHTF, or a collapse of our money system occurs, paper investments like stocks could become worthless overnight.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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 Posted 10/09/2019  06:28 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
@jacksinPA, while silver may well go to $100 an ounce, you might not want to sell if that is just do to hyperinflation. I would agree that there is nothing wrong with stacking some silver, but I would not assume a huge price increase.

Prices of precious metals are quite unpredictable and may stagnate for years. Many think that the prices are manipulated. Who knows?
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 Posted 10/09/2019  09:31 am  Show Profile   Bookmark this reply Add JacksinPA to your friends list Get a Link to this Reply
@oriole : "Paper money eventually returns to its intrinsic value - zero" Voltaire

It's not likely to be just currency: stocks, bonds, even mortgages.

A dime in 1964 (when I was in college) was worth 10 cents. Today it is worth $1.40 even with the under-reported inflation of our currency. So paper may go down but silver will likely continue to increase in value.

The folding money in my wallet is worth less this AM than it was when I went to bed last night. The market on junk silver dimes went up $50 yesterday. The market for all PMs was up significantly yesterday. My gold & silver hoard's value increased while my bank accounts & paper money on hand decreased in value.

Based on comparable sale prices of the same type/size house in my neighborhood, real estate values are appreciating at the rate of 5%/year. People have to live somewhere no matter what the economy, so real estate may be the next most stable investment after PMs.
Edited by JacksinPA
10/09/2019 11:47 am
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 Posted 10/09/2019  12:56 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply

Quote:
Paper money eventually returns to its intrinsic value - zero" Voltaire


Voltaire died before this happened though, so there's that to consider.

I like hard assets as a store of value, an inflation hedge, etc. whether you consider them a commodity or an investment. I just wouldn't allocate all of your capital to that one category, that's all.
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 Posted 10/09/2019  6:27 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
Prices of precious metals are quite unpredictable and may stagnate for years. Many think that the prices are manipulated. Who knows?
We know. Banksters of all kinds are paying fines for their part in the rigging. It's no mystery.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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 Posted 10/09/2019  7:24 pm  Show Profile   Bookmark this reply Add JacksinPA to your friends list Get a Link to this Reply
Paper currency first developed in Tang dynasty China during the 7th century, although true paper money did not appear until the 11th century, during the Song dynasty. The usage of paper currency later spread throughout the Mongol Empire or Yuan dynasty China.
===============================================
https://en.wikipedia.org/wiki/Voltaire

Voltaire lived about 700 years after the first appearance of paper money. I think he was referring to multiple historical examples of what happens to paper currency when governments get to print all they want of it. In such cases its value never goes up.

If you've been in a grocery store or gas station in recent years you have seen first hand what inevitably happens to paper currency. The intrinsic value of the merchandise (veal or gasoline) remains roughly the same but the paper currency has no intrinsic value.

Edited by JacksinPA
10/09/2019 7:42 pm
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 Posted 10/09/2019  8:24 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
I think it is a great idea to have a small percentage of your holdings in precious metals but they are highly volatile and not for the faint of heart so don't put any money into junk silver that you can't afford to lose. For me silver has not been a great investment since after taxes and dealer margins I'd be lucky to break even at this point.

I've been tying to limit my downside risk buying semi-numismatic coins such as Morgan & Peace dollars when my local coin shop has them at an advantageous price, such as a buck or two over melt for uncirculated Peace dollars and melt for G-4 or better Barber quarters and Dimes.
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 Posted 10/09/2019  8:43 pm  Show Profile   Bookmark this reply Add JacksinPA to your friends list Get a Link to this Reply
I'm still interested in finding out what silver coins were worth both before & after the stock market crash of 1929. Someone must have studied this & published about it.

I love the old college drinking songs that refer to your ability in the late 19th century to get a beer & a sandwich for a dime. Granted the bars that offered such a menu were heavily subsidized by the breweries, but neither the bars nor the breweries were in business to lose money.
Edited by JacksinPA
10/09/2019 8:44 pm
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United States
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 Posted 10/09/2019  9:39 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
All my "junk" silver has numismatic value.
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 Posted 10/10/2019  8:00 pm  Show Profile   Bookmark this reply Add JacksinPA to your friends list Get a Link to this Reply
I bought 60 rolls today at $65.30/roll, all Roosevelt. No sales tax, points or shipping. Not a bad way to build up the stack.
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 Posted 10/11/2019  11:42 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I bought 60 rolls today at $65.30/roll, all Roosevelt. No sales tax, points or shipping. Not a bad way to build up the stack.
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 Posted 10/12/2019  5:06 pm  Show Profile   Bookmark this reply Add JacksinPA to your friends list Get a Link to this Reply
The clear plastic boxes that I bought to house my cone snail shell collection proved to be perfect for my junk silver. Each box has 12 compartments & a lid with a snap closure. Each compartment exactly fits 4 CoinSafe square plastic dime tubes or 1 quarter & 2 dime tubes. I filled one box with dimes tubes & weighed it using my bathroom scale: 16.5 pounds, 90% of which is 14.85 pounds of silver. I've started a second box with one quarter CoinSafe tube & 2 dimes in each compartment. I can afford one quarter roll each month & one $100 face bag of dimes every other month. I examine & count each dime & quarter individually. My vision is such that I need a magnifying glass to check the dates on the shinier dimes. It is a tremendous amount of fun especially because my hands are accumulating wealth for my future.

I'm progressing on my literature search of coin validity verifying mechanisms & hope to be able to offer it for sale in the near future via my e-Bay store.

Jack
Edited by JacksinPA
10/12/2019 9:16 pm
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 Posted 10/12/2019  5:24 pm  Show Profile   Bookmark this reply Add JacksinPA to your friends list Get a Link to this Reply
'Junk silver' (i.e. previously circulated pre-1965 dimes, quarters & halfs) by definition have no numistatistic value. Uncirculated, proof or key date examples might have such value but then they would not be classified as 'junk'.
Their value is in their 90% silver content rather than their value to a coin collector looking for a specific denomination, date, mint mark, appearance, etc.
Edited by JacksinPA
10/12/2019 8:12 pm
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 Posted 10/12/2019  8:29 pm  Show Profile   Bookmark this reply Add thisistheshow to your friends list Get a Link to this Reply
Your post got me curious about cone snail shells. I did some reading. Interesting that those snails are venomous and can kill a human.
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