I've always stuck to 1 oz coins, 5/10 oz bars but wondering if it makes sense to get some smaller denominations just in case. If silver goes crazy higher and I'm spending this money, I'll need smaller amounts of coins. I noticed APMEX has bags of junk silver and I was thinking of getting one...nothing big like $3-5,000 but I wanted to hear some opinions from people who have bought it or are against owning it.
Thanks in advance.
There have been several discussions on this before, my personal thoughts are:
I buy .999 for "investment" purposes.
I have $100-$200 face value 90% on hand in case the SHTF, possible barter, etc. Most of my 90% is in dimes, but I have quarter and halves too. I have a bunch of dollars, but due to the fakes that have been surfacing recently, I no longer buy them unless they are from a completely reputable source. Plus the premiums for dollars is usually too high, and the resale very low on all 90%. I also stay away from the excessively worn coins, which is what you may receive in a mixed bag from APMEX, etc. I bought all my 90% off the local craigslist, that way you can sort through what you really want.
check out this previous thread
IMO, you can't go wrong either way, Good Luck!
For SHTF/TEOTWAWKI, a $1000 face value bag will be useful. Lots of coins of all sorts of denominations, but also, critically, manageable/moveable.
It goes well with a few thousand rounds of .223, 9MM, .45ACP, .22LR, and a variety of shotgun ammo. There will be people in a genuine collapse SHTF scenario who will prefer 20 rounds of .223 ammo in exchange for the food that they have and that you need. Cannot have too much ammo.
90% coins are the most recognizable by people and the smaller denominations will help to make sure you don't have to overpay for something you want or need. Having lived for years in S. Fl it was not uncommon to hear of people buying a gallon of milk for $50 cuz that was the only bill they had and the store couldn't make change.
They are under spot:
I think your link is wrong. Otherwise, that is .925 Sterling and not .999
I usually have about a 50/50 ratio, which is where I am at right now. Now, I am talking about troy oz's, with a total being a little 1,000 oz. As for lead, I have lots, .22, .223/5.56x45mm, .30-06, .308, .357 mag, .45 as well as cases of 12 & 20 gauge shotgun shells and the means to reload. I do rotate my stock replacing what I use at the range each week.
I meant to link the gaming tokens
Low premiums - I've been able to buy, mostly from Apmex, close to or even under spot. On some level and under some circumstances at least, silver is silver.
Taxes - I'm not sure about this one. Is there a difference in the tax rate for 90% compared to bars and SAE's?
SHTF - As said, known quantity and purity in small denominations. If/when we experience rapid social breakdown I think maybe 90% will sell at a premium.
Confiscation - It doesn't seem likely that the gov. would ever try to confiscate silver, but if you worry about that then it seems less likely that they would try to confiscate US currency.
Please comment or correct me on any of this.