So what is junk silver and what makes a coin a “Junk Silver coin”? It’s really very simple. Junk silver is an informal way of referring to coins with no numismatic value, a fancy way of saying that coin collectors have no special interest in these particular coins, but that have a value based on their metallic composition. Prior to 1965 in the United States the dime, quarter and half dollar (50 cent piece) were composed of 90% Silver and 10% copper. Silver, being a precious metal, gave these coins an intrinsic value equal to the value of the silver the coins contain. Because silver prices have increased significantly since the coins were minted the actual value of the coin far exceeds the coin’s face value. In fact, the Coinage Act of 1965, which ended silver coinage in the United States, was passed because people were hoarding the high value silver coins, causing a shortage of coinage. From the passage of this act in 1965 US coins have consisted of copper with a silvery alloy giving the coins a similar appearance to the silver coins, but having little intrinsic value.For more details visit us buy silver.
Junk silver coins have a place in your investment portfolio, especially in these economically uncertain times. In times of economic uncertainty people have traditionally turned to gold and silver coins to preserve their wealth. It’s no different today. Gold and silver prices are surging because people are learning they can no longer trust the dollar and other fiat currencies. Since silver coins have an intrinsic value based on the actual worth of the material in the coin, not on the promises and guarantees of politicians, they tend to be worth more over time, unlike the US dollar which has lost 95% of its value over the last 100 years. If you want to preserve your wealth, it only makes sense to begin placing a portion of your wealth in precious metals, which is where junk silver coins fit in.
Deciding to invest in precious metals is the first step. The second and more critical step is to actually do it. You can of course simply buy silver through a mutual fund or exchange traded fund on the stock market but you can never really be sure you’re buying actual silver. You may simply be buying a promise of silver and not the actual metal. Because of this it’s best to start your silver and gold investing with coins. When you have a coin in your possession you know you actually own the precious metal. In fact, owning some physical silver and physical gold is an essential part of your precious metal investments.
For most of us the easiest way to get started investing in precious metals is to picking up a few junk silver coins either online or at a coin shops and stashing them away. Do this on a regular basis and pretty soon you’ll have a nice financial reserve built up that you can rely upon. You’ll find that because junk silver coins are plentiful, relatively inexpensive and easy to find they are a great way to get started. Unlike gold coins, with have a high value to weight ratio, silver coins are relatively cheap. The current spot price for an ounce of gold is roughly $1200.00 while an ounce of silver costs less than $20. Since you can start your silver investing with a single coin you can literally get started for less than $5.00.
So the time to get started investing in junk silver coins is now, before silver prices start to increase. The best place to start looking for coins is either a local coin dealer or by looking online. Simply typing in the words, “junk silver” into an Internet search engine will provide you with plenty of coin dealers and private parties who will sell you junk silver coins. eBay is another good option to explore. My guess is that you’ll find investing in junk silver coins addictive because it not only helps you build a financial nest egg that will preserve and grow your wealth, it’s also a lot of fun.