Numismatics or Junk Silver coins, long term

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turkeybucket
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Numismatics or Junk Silver coins, long term

I've always believed that junk silver is the way to go, especially if silver takes off and gets to be in the hundreds of dollars per ounce.  I'm starting to have second thoughts about that.  I'd be interested in what others think about the subject.

The reason I ask is that I have a variety of mostly junk silver coins, pre 1965.  My buddy wants to pick through them and trade out my nicer junk and swap me for newer junk, plus some additional ounces to compensate me for upgrading his collection.  I'm tempted, as I've always researched coins as they came into my possession for anything rare or super nice (nothing rare, some decent shaped stuff though).  He also wants all my mercury dimes and standing liberty quarters.  hmm, what to do?

All thoughts appreciated. TIA.

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turkeybucket
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the other reason I ask is...

that I have been buying the 2011 Koala perth mint coins (up until recently).  I've had buyers remorse every time I've bought those, knowing I've paid a premium for my silver.  They sure are nice to look at though. TIA.

Jrandom
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Why not?

First off, he is your friend.  Next, if he is willing to spend his time learning up on the minutia of the various junk silver coins, and to spend the time combing through yours and replacing some pieces, let him have at it.  Do you really want to spend all that time and effort to become a junk silver master?  And if you hold on to them, what are the odds, that in the end, you are just going to sell/trade them at junk value?  Let the guy have his fun.  Unless you find it really fun, it is a time-sink that you could be spending doing your normal job, earning money to buy more silver (and end up with way bigger stack).

I have junk silver, and I got to tell you, none of it is pretty.  I can barely even tell that the Mercury dimes are actually Mercury dimes (because of the wear from being in the bags for 30+ years).

SilverFocker
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I dont see the problem

Silver OZ's......It's the key word, whether you have 90%, bars, round's , eagles, or maples it all adds up to oz's in how much fiat you get to trade for how long.

This is a LONG term hedge and nothing more, so why worry about what you silver looks like as long as your stack keeps growing.

In the end an ounce of 90% will get you as much as an ounce of .999, it just takes a lil more of the 90% to get there.

DanH
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I'm of the opinion that

I'm of the opinion that ounces are ounces in a SHTF situation, quantity over quality - so, in that case,  I'd let your friend have a party as long as you end up a few OZs heavier.

I have a bunch of junk silver myself - but I also have a weakness for numismatics - since I was a kid. So I have a bunch of coins that I paid a lot for and like to own. If a SHTF comes up, yeah, I'll be trading them for soup with my junk and that'll be that.   But, if not, maybe my grandkids will like them!

Dr Durden
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First, it's nice to see

First, it's nice to see another Minnesotan on here. Welcome.

Second. If it's "junk" why is it in such high demand? There's a premium to GET junk? People PAY all kinds of junk collection services to show up in a truck and TAKE it AWAY.

I say this because when, and if, silver is as rare and in demand as "they" say it will be....it will NOT be "junk" to anyone.

I know it's just a term to denote that it's not the pretty .999 or even numismatic stuff, but any hardcore silver stacker that's in it for the long term no doubt has junk by the # not oz. A friend asked me the other day something to the effect of "how many oz do you think I need?" And I said, "Ounces? You mean pounds!" 

For me personally, I have at least 65% junk that fell into a hole in the ground in an undisclosed location. The rest of the pretty stuff stays in the safe in case I need to unload a little. Remember, most people are completely oblivious what silver really is, so when shit gets OOC and there's a mad scramble for physical, premiums will be ridiculous and little ole me who's collected near or under spot all this time will gladly sell a little here and there to a "sucker."

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RuNuts
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Ice Z More silver/goldchronicle spam?

More thesilverchronicle spam hidden in the pic link ? DIAF

I alerted the Mods hours ago about this clown. SMH...

survivalwstyle
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BOTH

over the past few years i have made 90% the majority of my Ag purchases. I go with liberty (mer) dimes, washington quarters, walking libs and '64 JFK's. my LCS lets me go through their junk bins and i have cheRRy picked the best conditioned coins. I watched the may maSSacre in hoRRor. this was my first true experience of the smackdown.

i did not seLL $1 worth of 90% then, but i saw the "value" of the junk drop just like the paper. i also noticed the price of many numi's did not change. i started to think. what is my purpose in metal aCCumulation. 1. preserve my purchasing power. 2. protect the wealth of my family 3. get my "money" out of the system 4. hobby.

i stiLL want the 90% for the time when Ag is aCCepted as "money" by the majority. this wiLL be my transaction Ag.

Since May i have started to seek out more numi's. starting with the 1 oz kOOk. this to me is the ultimate in Ag buLLion. production is limited, design change aNNuaLLy is kiLLer. there is a premium but price does not move as much if at all, esp w/ older kOOks. the 2002 is my favorite! then go check the 2012 perth dragons out. i got them from gainesviLLe the day they came out last suMMer for i think @ 42 a pop. i remember that it was $10 OVER spot at the time and i thought damn. weLL the dealers that have them today, were seLLing them for $99 when Ag was 42 in sept, and gueSS what, they are at provident today, sticker price stiLL $99, even after that 25% Ag paper price coRRection over the last month. Right now you can get KILO dragons @ provident for under 1200???? yes please.

I also coLLect the wildlife canadians. the coug is not the most beautiful coin i have seen, but the production is LIMITED, and the wolf and griZZ are awesome. fuLL disclosure, i do not own 1 slaBBed coin so i am talking about numi AG buLLion here. Nothing against slabs, they HOLD VALUE, the difference is you are paying huge premiums above the metal, but they sure lOOk gOOd in MS 60 and up .

PersonaLLy, these numi's are the coins i plan to paSS on to my childern or grandchildern someday. of course i will also have them building sets of liberty dimes. who knows, i might have to spend a majority of those in this lifetime. hope not.

alas ~~ i conclude how i began. BOTH. IMVFHO of course.

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lilbromarky1
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I vote let him take a crack

I vote let him take a crack at your collection.  Being a strategic hoarder and a collector are 2 completely different worlds of knowledge.   Let you be the expert in what you know and him be the expert in what he knows :)

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survivalwstyle
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2012 kOOk

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Silver Bullion
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25th Anniversary Silver Eagle Coin Set Price at $299.95

Answering the question many collectors have been asking since the announcement of its release, the United States Mint has indicated the American Eagle 25th Anniversary Silver Five-Coin Set will initially sell for $299.95. As is standard for precious metal products from the Mint, that pricing is subject to change based on market trends leading up to the October 27, 2011 release.

http://www.silvercoinstoday.com/25th-anniversary-silver-eagle-coin-set-price-at-299-95/105065/

Silver Bullion
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Perth Mint Cuts Prices for Silver Numismatic Products

Following the recent sharp decline in the spot price of silver, the Perth Mint of Australia has reduced prices for a variety of silver numismatic products. As recently as one month ago, the market price of silver was above $40 per ounce, compared to the current price around $32 per ounce.

At least one other world mint has also responded to the drop in silver by reducing prices for numismatic products. On October 7, 2011, the United States Mint reduced prices for their numismatic one ounce American Silver Eagles and five ounce America the Beautiful Silver Coins. The US Mint’s price reductions were $9.50 for the one ounce coins and $50 for the five ounce coins. On a percentage basis, the reductions ranged from 13.88% to 17.86%.

http://news.coinupdate.com/perth-mint-cuts-prices-for-silver-numismatic-products-1004/

Silver Bullion
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You need to Get your hands on books like this

http://coins.about.com/od/coinvalues/fr/redbook.htm

Check the prices yourself, you may have people that know the real value and you may not. Hope this helps

DanH
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RE: 2012 kOOk

I've got some of those beauties being shipped to me now!

Economical Disaster
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I never ever buy numismatic

I never ever buy numismatic SILVER coins. NEVER! When TSHTF all your silver will be worth just that, SILVER SPOT. I go on craigslist and buy MAPLES, MORGANS, ROUNDS, JUNK anything near or below spot from DESPERATE sellers! There are many, been doing it for YEARS! Wait until the marker crash when margin calls.

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Wizard
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I personally have been

I personally have been studying Eisenhower Dollars for a little over three years now. And I have never found a more rewarding and fun series of coins to study and collect in all my years of coin collecting. Also I have been hard core stacking silver for about four years now. Both of which are completely different endeavors with completely different skill sets to accomplish successfully. If you have no interest in numismatics and you know that there are no rarities in your stacks. Nothing is to be lost by letting your friend round out his numismatic collection. While at the same time adding to your own stack. In the end if SHTF scenario does take place one VERY IMPORTANT thing that you will need along with gold, silver food, shelter, weapons and ammo is loyal friends. Nobody and I do mean Nobody will be able to make it for very long without them.

Just my humble opinion

WheelerSilver
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What about sterling!!

Don't forget Sterling silver! It's 92.5% Silver so its even closer to 999 than 'junk' And you can often get scrap stuff for UNDER spot! Just say'n.

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Dr Durden
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WheelerSilver wrote: Don't

WheelerSilver wrote:

Don't forget Sterling silver! It's 92.5% Silver so its even closer to 999 than 'junk' And you can often get scrap stuff for UNDER spot! Just say'n.

Very true. If you pay attention net silver content and not the word "sterling" then it can be had for cheap as it seems many don't really want it. 

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