Archive for Buying Silver

Cheap Silver

Okay, friends, chances are that you’ve arrived at this article in search of some super cheap silver to invest in.  Maybe you’re on the lookout for some cheap silver coins or a bargain silver dollar or two.  I’ll tell you what friends – right now all silver is cheap!  Take a look at this chart:

silver price chartYou see that?!  We reached a peak of almost $50 a while back, and right now we’re around $19.  Cheap Silver, right!?  “Whoa… whoa there, Mr. Silverheels!” you say.  “How do you know that $50 wasn’t the zenith just like it was in 1980?” Well, that’s a good question ya’ got there, pardner, and my answer to that is “I don’t!”  Sure 2011 could have been a “double top.”  Sure we could have hit the highs and be back in a bear market for the next 20 years or so, but I don’t think so.  There are technicians and chartists out there who might say the price is going down, and they may be right; it could go down more.  I would venture to say that the majority of chartists are being told by their charts that we are still in a silver bull market and the silver value is intact and its price will be going up.  So you want cheap gold and silver?  Well heck – you got it right now!  Get out there and buy some.  You don’t have to buy it all, just buy some.  You don’t have to sell your car or your clothes or the baby’s toys (unless the price goes lower), but buy some.

Cheap silver is here now, friends!  If you haven’t read about Silver Rounds or Junk Silver, you can head over there now learn about how you can find some even cheaper silver.  As a quick review, here are a couple of ways:

Head over to your bank and pick up some rolls of dimes, quarters, nickels and half dollars.  Depending on the dates (pre-1964 for dimes, quarters and half dollars; 1965-70 halves; 1942-45 nickels), you can get yourself some good, real silver on the cheap.  You aren’t going to find much precious in today’s coinage. (You won’t find much value in today’s dollar either, for that matter!)  Sift through the rolls of coins and you may find yourself some treasure.

Head to swap meets, flea markets, gun shows, and yard sales.  You will often find sellers of silver who sometimes aren’t aware of the value of their wares.  There are bargains to be found!

I don’t know about you but I hardly carry cash anymore these days, and I definitely don’t carry coin change often. Though I don’t believe in the soundness of our electronic, inflated currency, I will certainly take advantage of its convenience.  If you are a cash carrier, though, check your coins often.  Take a peek inside the cashier drawers.  Ask others if they’ve got any old or strange coins they want to exchange for some new, pretty ones.

Yes, silver is cheap right now, and there are a few ways for you to get yourselves some cheap, cheap silver.

PS- If you came here looking for cheap silver jewelry or cheap silver rings or pendants or such, I suggest you check out my article on the Sterling Silver Price.

Thanks so much for reading!  Please link to this article on your favorite social medium and forums.  Sign up for email/RSS updates.  Share your comments and questions.  If you’re wondering about something, then someone else is too.  Let’s help each other.  J.

Junk Silver

What is Junk Silver?

First off, though the terms sound similar, let’s not confuse junk silver with cheap silver.  Just click on that link you passed by to learn more about cheap silver, sterling silver, & scrap silver.  Junk silver coins, as they are affectionately called, are minted US coins that contain anywhere from 35% to 90% in them.  When you’re in the market to purchase junk silver, forego your aesthetic taste because your probably not going to run into any coins that are in very good shape primarily because these coins are old.  In fact, that is why they call it junk silver!  Silver buyers are attracted to this type of silver investment mainly when the price of 1 oz silver becomes a bit too rich for them.

Now don’t go thinking you can run out to your Little Coin Shop and plunk down your paper for real money and they’ll hand you over a couple of old quarters.  Dealers don’t go in for that sort of thing.  When dealing with junk silver coins, they want to sell in quantity.  This is what you’ll typically run into:

90% Silver Coins

These coins will come in full bags of $1000 face value coins – usually pre-1964 dimes, quarters or half dollars.  If you count’em up all the coins the bag will add up to $1000, but the reason your paying much more than that is because all of those quarters combined total 715 ounces of silver!  You can also purchase half-bags ($500 face value) or quarter bags.  Some places are now even offering smaller bag sizes and even rolls of junk silver coins, but you’ll pay a larger premium for those smaller amounts.  Morgan and Peace silver dollars are also available by the bag.

What is junk silver?40% Silver Coins

These coins are Kennedy half-dollars minted between 1965-70.  As with the 90% coins, you can find these in a variety of bag sizes and rolls.

35% Silver

These are bags of war-time nickels (that would be World War 2, 1942-1945). Each $1 in face value (20 coins) contains approximately 1.125 oz of Pure Silver.  These come in variety of bag sizes as well.

Junk Silver for Free!

If you’re not hot on paying for your junk silver, there are places where you can find a coin here and there; sometimes you can find a whole lot of them, and sometimes they’re even free!

I’ve already mentioned swap meets and flea markets and potential sources for silver rounds, silver ingots, or silver bars.  It makes sense that you can find junk silver there as well.  Another possible source for this type of silver are antique stores.  You’ll usually find them in a cabinet near the register.  Coin rolls are sometimes a good source for these types of silver coins.  I’ve heard tell of fellows who go to their banks to exchange their paper dollars for rolls and rolls of nickels and quarters and dimes.  They bust ‘em all open in search of the “junk.”

So, what’s the big attraction to junk silver then?  The key is the small denominations, and the fact that these are actual legal tender.  Some folks are a little bit afraid that the G-men are going to come around like they did in the 30’s and confiscate our gold and silver.  I think the odds are pretty low of that happening due to the different economic times, but honestly, I wouldn’t put anything past the government these days.  If silver confiscation becomes a fact, it won’t affect those of us who simply have bags of old quarters lying around. Preppers love their junk silver because if silver hits the heights that I believe it will, a troy ounce of silver will be too expensive to do much with it.  A pre-1964 dime would be very handy to barter with.

Hey, that’s a pretty good introduction to What is Junk Silver, I think.  Thanks for reading.  If you’ve got comments or questions, click on the “Contact” link above.  J.