On September 10th, I wrote one of my most important RANTS ever – “MUST OWN JUNK SILVER.” I have long viewed “junk” silver (pre-1965 U.S. dimes, quarters, and half-dollars, all of which have 90% silver content) as the most important “protection purchase” one can make; and given the rapid deterioration of the global economic situation in recent months, that belief is STRONGER THAN EVER.
Junk silver is perhaps the worst misnomer on the planet, as no product represents more “value” for the price. Given its small denominations (a “junk dime,” for example, is worth roughly $3), government issuance, and scarcity, no Precious Metal item is better suited for an uncertain future; particularly if the worst-case scenario of a temporary “barter society” emerges.
This winter, junk silver premiums have surged to their highest levels since late 2008’s Global Meltdown I; with current pricing at roughly spot plus $2.75-$3.25/oz, compared to levels closer to spot plus $0.00-$1.00/oz over most of the past four years. Below are the prices one of our competitors will pay to secure your supply, although virtually NO ONE is selling these days, and precious few likely will. By the way, if you purchase metals from Miles Franklin, we charge ZERO commissions if you choose to sell the same metal back to us…
I myself purchased junk silver in January; of which I had to wait three weeks for delivery. Delivery times remain extremely uncertain; and given the “FINANCIAL 9/11” that just erupted in Cyprus, I wouldn’t be surprised if supply dried up altogether. In fact, I’m quite confident that once silver moves back into the $30s, this will be the case.
I think it’s become crystal clear how much of a razor’s edge the Global economy has become; and thus, that the odds of CRISIS and/or FEAR breaking out are greater than at any time since 2008 – particularly in Europe. I couldn’t be more urgent in my advice to PROTECT YOURSELF; and “financially speaking,” there is NO BETTER WAY to do so than via “junk” silver.
PROTECT YOURSELF, and do it NOW!
Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service and competitive pricing, we aim to EARN your business.
As an avid collector of silver coin, I have to say that I think most of us are pulling away from the “market” in regards to checking “value”. The market is not keeping pace with the actual REAL value of precious metals. In addition, the market is generally a big lie. I myself would never sell and buy according to the market.
I would say that the premiums we pay for our silver, gold, etc, are a reflection of other people’s mistrust in the market as well. Hence, if the people say silver is worth $31 per troy and the market shows $28, there is your $3 “premium” or in other words, the real value of silver. I would even be as bold as to say that it may be possible that we might see 200% “premiums” as the silver market gets tighter.
No matter what JP Morgan thinks they can do, mother nature and the universe will always win out in the end. There always has to be a level, balanced medium in all things nature and market.
D Brunk
its like you went in my head, took my thoughts, and put them into your paragraph. could not agree more
i would also like to add that i am shocked that more people dont invest in/already own silver
not a single person i know has any
and when i try to explain to them the benefits, they shrug me off and say i dont know what im talking about when it comes to the state of the economy and the real value of silver
when i try to convince people, i use the Dollar’s decline as my main point, but i also tell of the uses for silver. even if the economy gets better (which i dont believe will happen), and even if silver can be suppressed around 25-35 (it wont be much longer)… Silver is used in medicine, clothing, purification systems, computer chips, solar panels, and i could go on. any way you put it, silver WILL rise
bottom line, silver is the investment of a lifetime for protection against inflation/collapse and just for the sake of investing
not to mention its BEAUTIFUL and makes a wonderful sound when dropped on a table 🙂
I completely agree with you. I have been buying junk silver and silver for the past six years. The paper market means nothing. I think eBay and craigslist represent a truer market. If spot is $27, yet I must pay $31 or $32 per ounce, than that reflects a truer value.
On ebay there are silver coins available but price setting is more in line with physical’s real value. A one ounce generic type silver .999 round will set you back around $35.50 with shipping included. A 90% dime is going for more like $4 -$6 for non-numismatically significant coins.
I recently did manage to get a mercury dime for $1.98 (including shipping) but it looks like it had been digested by a dinosaur and then dug up several thousand years later by a coin hunter with a metal detector. It looks crappy but it is still spendable for real goods when the time comes.
A lot of pundits who have some success with timing events have stated that this is the spring the elite and cartels lose control. Given current events & the speed at which they are moving to take away guns & ammo, I think that they may be right.
I agree with d brunk that the market price of silver does not reflect its real value. Especially with the government now pumping money into the economy, inflation rates are rising, the value of the dollar is falling, the price of silver should be rising. Instead, it IT IS AT A RIDICULOUS LOW OF 26.
HOWEVER I DO NOT BELIEVE JUNK SILVER IS A GOOD INVESTMENT AS ITS LIQUIDITY IS VERY LOW. Try going to the local coin shop to sell your pre 65 silver quarters, they wont offer more than 2 or 3 dollars MINUS the silver value ALONE (unless the coin date is unusual). For a silver troy ounce coin .999 pure, however, they will give you spot for that.
Come on. These claims are ridiculous. I can buy a silver dime for 22X face value easily right now. That’s a dime for $2.20. If I buy enough of them, the seller will even throw in shipping for free. I can get nice ASEs for $33 right now.
Silver is a great investment now. How great? So great that you don’t need to make up stuff about them.
Ebay is only one reference to use, not the entire market.
there are still deals out there just harder to find just bought some junk on ebay for spot. Mark coin shops have to make a living try putting that JUNK on kijiji at spot and see how long it lasts
Prices on eBay are much higher then that.
A roll of quarters are going for $5 over spot.
People on ebay are nuts when they buy used up silver dollars for 35.00 to 45.00.There is only 75% of an ounce of silver in a silver dollar,melt value=20.89.I can buy silver rounds all day long for spot +2.00 =29.05 today. So whats up with that???????
Roscoe is right on, today I paid 21.5x and ASE are $30.05 right now. It’s pretty bad when the LCS has the best price.
I don’t like junk. I like coins in mint state. Take that.
Why would I buy junk silver if I can buy silver eagles at the exact same premium or lower premium.
All such purchases are good ideas at these prices – and fundamentals. However, junk silver is best for barter in a worst-case scenario – give its low denonominations. Plus, it hasn’t been manufactured in 50 years – and NEVER will be again. It should just a diversifier for a PM portfolio, not the whole thing.