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Silver. WHich coins are safe for a newbie?

Discussion in 'Preparedness & Survival' started by CleverName, Apr 14, 2012.

  1. CleverName

    CleverName Southern Oregon Active Member

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    Hello. Hope this isnt a dupe. I did a search and couldnt find what I was looking for. I want to start slowly gathering silver coins or bars for future barter. I dont know much about coins or silver in general. Is there a good, common and safe coin to look for? Something not frequently counterfeit? Theres a local shop that has some Liberty coins and some Kennedy half dollars. Are these good? What are good prices to pay? Thanks
     
  2. Yamahamottox

    Yamahamottox Eugene Member

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    I really like American currency. I started buying Morgan's a few years ago just don't get tempted into buying rare or grade coins if you are looking for silver unless you want to start collecting coins. I just wish I would have bought more when they were 11$.
     
  3. jbett98

    jbett98 NW Oregon Bronze Supporter Bronze Supporter

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    I prefer Engelhard Prospector 1 oz .999 Fine Silver Rounds. They may cost a dollar more, but they are a nice looking once of silver.
    My brother in law received a $2000.00 cash windfall over twenty years ago. He drove down from Seattle to Portland and while visiting me he walked into a coin shop down the street and spent the whole $2000.00 on bags of junk silver. At that time I thought he was nuts. It weighed so much, his car shocks were bottomed out.
     
  4. nwdrifter

    nwdrifter troutdale oregon Active Member

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    i personally dont buy US silver or gold currency. i worry that if the dollar fails (it will, just a matter of when) and the fed says we are not using the dollar anymore we are using the new XXX currancy, your screwed,

    They will then say something like "all old US printed currency can be traded in for $.30 on the dollar (face value) for the new currency and all old currency must be traded in by xyz date or you face procicution.

    $.30 on the dollar gives people real money but also gets the dept resolved. If you have a silver coin that says $10 on it will be worth face value only $10, and $.30 on the dollar makes it worth $3. they could also make it illeagle for dealers to take after xyz date. You have to think we dont own any US currancy, its owned by the fed, we are just allowed to use it.

    This theory might seem out there but that's what they said with the euro, we could see a north American money or a word money. The big banks want a world bank, a world union, and world laws. Your politions are all paid for buy the banks. The fed chairs all seem to give up 3 million dollar a year jobs at the banks to run the fed. The banks run the show plain and simple.

    i think if my .999 silver non currency coins might be harder for the fed to take as ty are just silver and sold as silver, not currency.

    Last but not least you should be buying silver/gold as an investment. to spend an extra $5 for a coin that looks pretty like an eagle is nuts. Its not art, they are silver one ounce pieces. I also think junk silver coins are way way overrated, sure they have silver in them, but if there is a need to refine them to get the silver out whos do you think will pay for that.

    This could happen
    North American currency union - Wikipedia, the free encyclopedia
     
  5. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    Buy any .999 Fine 1 oz. Silver rounds. If you want to add some American silver Eagles, that would be a good bet, too. No coin is going to be worth face value come SHTF, it will be traded a s a precious metal by weight and purity.
     
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  6. hammertime

    hammertime Oregon Member

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    kenedy halfs made after 1964 are 40% silver. Pre 1964 half dollars franklins, silver rounds, morgans, pre 64 dimes, quarters. Just remember 1964 was the transition point and by 69/70 they took the silver out of most US coins.
     
  7. Toxic6

    Toxic6 Higher then a PDX hipster (~10,000 ft higher) Active Member

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    I've heard the argument that silver dimes would be easier to sell/trade off in small metered quantities if necessary. I think I like the idea of bullion rounds more though personally, since the metal is traded in troy ounces and if you get a good name mint no one seems to question them from what i have seen.
     
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  8. KalamaMark

    KalamaMark Kalama Wa Well-Known Member

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  9. mjbskwim

    mjbskwim Salmon,Idaho Well-Known Member

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    Funny they put the coins before the guns in the article.

    A friend has some Franklin coins.They are sterling,yes,but 95.7?% silver(right around there)
    Are these worth buying as sterling silver?
    I know they would have some collector value,but at 95%+,they should hold some "precious" value also,no?
     
  10. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    I have some Philippine WWII dimes, minted in San Francisco that are silver. The local dealer told me that the silver market has such a glut of people wanting to sell silver that he couldn't get me a very good price for them right now. May be the same with the sterling. It is worth checking into, there should be a coin dealer out on the peninsula.
     
  11. Dan-Dee Sales Inc

    Dan-Dee Sales Inc Sweet Home, Oregon, United States Active Member

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  12. pakrat57

    pakrat57 Reedsport Bronze Supporter Bronze Supporter

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    The thing about junk silver coins is that they are easily recognizable as true silver. A plus is they are already in easy to use sizes and do not need to be cut down like you may have to do with silver bars in a barter situation. From what little I've read the silver rounds and bars would be too easy to counterfeit compared to junk silver coins. I mean, how are you going to be able to tell if that shiny silver round or bar is pure silver just by looking at it. It would be a lot easier for someone with some foundry skills to fake them than junk silver coins.
     
  13. CleverName

    CleverName Southern Oregon Active Member

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    Excuse the noob question, but what is meant by "junk" silver coins?
     
  14. simpleguy

    simpleguy Clackamas Active Member

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    Junk Silver is Pre-1965(1964 and before) silver coins that are not necessarily "pretty", they have wear, they are technically "uncollectable" as they have mars/wear on them from being circulated. Yet they still have a 90% silver content.
     
    Last edited: Apr 15, 2012
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  15. simpleguy

    simpleguy Clackamas Active Member

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    I have several areas I dabble in. I have lofty goals and eat away at them a little at a time, whether it's firearm inventory, ammo. inventory, food storage etc.

    Personally I only buy Junk Silver and Silver Eagles, I have a local dealer I buy from, so there's no shipping charges and we buy from him enough that it's cheaper than Ebay or Craigslist, plus I have someone I trust to bounce things off. I even give him a list of what I'm looking for and he'll send me a text when it's in.

    My eventual goal is to get to:
    2 rolls each silver dollars and half dollars
    4 rolls each silver quarters and dimes
    or each member of the family.
    plus everyone gets 1 silver eagle per person/per year added to the current stash.
     
  16. simpleguy

    simpleguy Clackamas Active Member

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    You are right about this, I talked to my insurance agent about my coins......unless you have an insurance rider and a written appraisal, you are not insured. To be honest, unless you are buying "graded" coins and willing to insure them, this is the risk you run. Personally, I want my coins and myself a bit further under the radar than written appraisals and insurance riders. But it's the risk I'll have to run.
     
  17. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    A safe in the garage floor that looks like a sewer clean out might be a good place!! :D
     
  18. Burt Gummer

    Burt Gummer Portland Completely Out of Ammo

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    Nonsense.

    What savings is safer? Something real that you have control over, or something that can be stolen away by a keystroke? Plus, I like how the banker media sensationalized that story to the hilt. Idiots that kept their PMs in a cupboard. The theft was done by someone that the gentleman confided in; that I guarantee.

    When the banks go on their 'holidays' and you watch your $$ evaporate away, you'll wish you had those 'risky' silver and gold investments.

    There are a million ways to hide PMs and disperse them over multiple places. No insurance or such nonsense required. Silver is about being anti-paper in all ways. When the 600+ trillion debt tsunami rolls across the nation and all paper burns, you'll be very lucky to have any. Of course, there are a lot of 'things' more important to have; talking purely as a substitute for backed by nothing dollars, IRAs, savings, checking, ETFs (silver or gold 'certs' are just toilet paper), etc. Poof.

    I never want ill-will on others, but I have to admit it will be entertaining watching the trusting idiots standing in a mile-long line outside their bank trying to get access to their account or a hand out as everything they have worked for vanishes.
     
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  19. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    Unfortunately, Both the State Government and Federal Government know my checking account number!! :(
     
  20. Yamahamottox

    Yamahamottox Eugene Member

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    This is bad investment advice it is legal right now to melt old silver coins perfectly legal. American silver coins are known to have a specific amount of silver content and are a great way to start investing in silver. I also agree with paying only spot price silver is silver no matter who minted it your paying extra money for a name on a coin. Before you raid your savings Just keep in mind precious metal prices are at a very high level and do have plenty of risk to drop back to old prices.