Buy Junk Silver Coins on Sale
I recently made a trip back to my childhood home in Minnesota and my mother pulled out a US Franklin silver dollar that I had been saving since I was a young boy. I had stored the half dollar in an old Pepe’ Lopez tequila pitcher. Yet, I was not smart enough to save more of junk silver coin collection that included 90% silver dollars, quarters, and dimes. Can you imagine the value of junk silver coins that are in the bottom of old shoe boxes, rusty coffee cans and junk drawers? You may have your own treasure chest of junk silver coins waiting to be discovered by you. If you don’t have an old stash, you can still purchase them at bargain prices.
When I first started buying silver coins a little more than a year ago, I thought I figured I was in the too late mode because silver had more than doubled in price in a 12 month period. Hindsight is telling me that I was wrong as silver has yet made a huge move since I bought my first coin. It’s like a tiger waiting to come out of it’s cage.
It was easy to start purchasing silver American Eagles from a local jewelry dealer in California. I was well aware of the fact that the US had been off the gold and silver standard for years. The worst thing about going off the gold standard is that only the good faith of the US government is backing their currency. I stopped believing in Santa Claus years ago, yet I have more faith in Santa Claus than I do our Big Brother in Washington. Do you understand?
Because silver has decreased in price, I am buying at the discounted price. Will the price move up and down? The price of precious metals has always been volatile in turbulent economic time. What we don’t know is by how much. Fiat currencies including the Euro and US dollars continue to fall in value as the the respective countries dilute the market with more electronic currency. This makes each dollar or equivalent currency less valuable. Governments do this as a hidden and very unfair tax. Precious metals lock in the current value of your money.
3 Things Your Banker Will Not Tell You About Junk Silver Coins
- The demand for silver has been exceeding the production of silver for over 30 years. This means that silver is becoming more rare.
- Because of the high demand for silver, investment grade gold is more abundant. Today, there is only enough investment-grade silver for every person to own 1/14th of an ounce. In comparison, there is enough gold for every man, woman, and child to have 3/4 of an ounce.
- The gold to silver price ratio is currently at approximately 50:1. Historically, it has been around 15:1. In terms of purchasing power, one ounce of gold will have the same purchasing power and 50 ounces of silver. If the ratio goes back to the historical ratio, we could see a large increase in the price of silver.
The Hidden Value Of Industrial Silver
Silver is used industrially for manufacturing computer chips and other electronic. As you read this article, keep in mind that silver was used somewhere in the process of your computer or smart phone. In the manufacturing of computer chips silver is more thermally resistant, reflective and conductive than any other metal on the planet. An acceptable substitute is not known. Most people see silver as something shiny used to make jewelry or to mint coins. Because of this, buyers of investment grade are in direct competition with buyers of industrial grade silver. At the end of the day, it’s about supply and demand. The higher the demand, the higher the price of silver will be.
Where To Purchase Silver Bullion Coins
If you are just starting out and want to buy silver coins, I would head right on down to your local coin dealer if you have one available in your area. I have 2 favorite local coin dealers that are like precious metals encyclopedias. The shops are a projection of their passion for coins and precious metals. Small coin shops work on tight margins. I was able to purchase American Silver Eagle coins for $2 over the spot price of silver at Chris’s Jewelry in Fremont, CA. Silver Eagles always have a premium.
Many people prefer shopping anonymously online for silver coins rather than with a local silver coin dealer. I visit Goldsilver.com daily for the latest news on precious metals. . This site has by far the best up to the minute news and prices of silver. It’s a complete knowledge center for owning silver and gold bullion coins. Goldsilver.com offers vaulted storage for precious metals and this is especially convenient for people all over the world that do not want to store their own silver.
The reasons for buying silver bullion investing have not changed. The world financial system has gotten much worse and does not appear to be getting healthy anytime soon. In order for things to get better, the fiat currencies of the world need to collapse as gold and silver take over as real money.
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