June 20, 2024

Cocoabar21 Clinton

Truly Business

Junk Silver – 3 Reasons Why It Is the Best Metal to Buy When Preparing for an Economic Crisis

2 min read

Despite its name, junk silver is not junk. The term junk silver refers to coins minted in the United States prior to 1965. These are coins that contain 90% silver and 10% copper. The US government stopped minting 90% silver coins in 1964 but it continued minting 40% silver half dollars from 1965 to 1970.

The first reason that this is the best precious metal to buy is its affordability.

You don’t have to have a lot of money to be able to buy it. In fact, you can buy it in as small of a quantity as a single dime on eBay. As with anything, the premium you pay will be higher when you buy it in smaller quantities. It is bought and sold in increments of $1.00 of face value. 10 dimes sell for the same as 4 quarters or 1 half-dollar and 5 dimes. Any combination of coins that total $1.00 face value weighs the same when they were minted and have the same silver content.

The second reason is because it’s easily recognizable.

The majority of people around the world have seen a US quarter, dime or half-dollar. This is very useful when it comes time for authenticating on the go. This is what makes it so valuable in times of economic crisis. You can use it to make every day transactions without the fear of having the coins being rejected because the seller does know if it is authentic or not.

The third reason is because it comes in quantities small enough to use for every day purchases when bartering.

The last thing you want in an economic crisis is to have bullion that is worth $1000+ per coin when you need to buy a loaf of bread. Today, 90% silver dimes are worth $2.95 if you buy one and $1.50 if you buy 10. Similarly, you can buy a single quarter for $5.75 and $3.75 if you buy 10. For this reason alone, you should buy junk silver first and only when you have a stockpile that will last you 1 year (at a minimum) should you start to buy less recognizable gold and silver bullion.

In summary, junk silver is the best precious metal to buy because it’s affordable, easily recognizable and comes in small enough quantities to be able to be used for every day transactions.

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