Buying Junk Silver for Beginners: EVERYTHING
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- Опубліковано 3 чер 2024
- Interested in junk silver? Start here.
0:00 What is Junk Silver?
2:23 Why Buy Junk Silver?
3:09 How to Calculate
4:38 Premiums
7:15 Coins
8:51 Dimes
11:37 Coin Roll Hunting
12:20 Quarters
14:54 Half Dollars
17:35 Modern Proof Coins
18:38 Dollar Coins
22:11 Nickels
24:33 World Junk Silver
25:56 Junk Silver Tips
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If you liked this video, check out *Silver Bars for Beginners* : ua-cam.com/video/4U91ikxFXx4/v-deo.html
Are you going to do Canadian and British junk silver?
i buy 50%uk silver here in uk for spot or less
I do plan to do a "world junk silver" video, so they will definitely be included!
@@SilverForeverX , if you can include each specific coin for the last 200 years from each country along with silver content, that would probably be the most helpful. :)
@@SilverForeverX ,, Osmium '' Rarest precious metal on Earth
An easy conversion...$1.40 face (4 quarters & 4 dimes) contains 1 ounce of silver.
I couldn't believe I forgot to include that in this video.. I noticed when I was editing, but you're the first to bring it up! Let's just say my next quiz video includes this question
Gets weird when dealing with dollars (Morgan's, peace).
In Canadian it's $1.50 (1 dollar & 1 half dollar) contains 0.9 ounces of silver. Not as easy a conversion here.
Thank you 🙏
And I think his $22 per face price (4 quarters for $22) is a little unreasonable, equating to about $30 per Troy ounce of silver, no?
I had a great score at an estate sale last year. I went to the sale on the first day of the sale, they had a nice collection of pre-64 US mint halves, quarters, and dimes, but wanted to much. So i went back on the final day, I knew that right before closing everything is half price. I found that they had most of the coins still unsold so i offered them $300 cash for what was left. They were happy and I went home with about 10 pounds of US mint '64 and earlier constitutional silver coinage. SWEET SCORE, Almost 135 ounces melt X spot today = $3,200 ! ! !
Big Dog...that would have been worth $6,750 in 1980...get it $6,750....1980!!!! I used to buy and sell junk in $1000 face vale buckets...it came in five gallon plastic buckets....once again $50....1980.... It would have to be $300 today...
Junk!!!!!!!
I just bought junk silver retail. New to this stuff. Didn't know you could find that sort of deal at estate sales. I feel pretty behind on the investment stuff
@@anonymous071985 Don't get disappointed, my example was a very lucky score, just watch out for these kinds of opportunities in the future. I am an old guy who started stacking silver in the early '70's, reached my body weight (200 lbs) years ago.
@@bigdogbob845
Melt value alone is pretty sweet on that body weight. About $60k to $70k? Did I do my maths right? Correct me if I'm wrong.
I had a WWII vet as a neighbor that had $40,000 face value silver dollars. Poor guy bragged to the wrong people and got robbed. Wiped out clean. Lucky enough he hid his Gold different place. So he still had retirement to live on.
@@vincentanguoni8938 When you reference the 1980's you are talking about the artificial bubble in silver spot price because the Hunt Brothers tried to corner the market with huge TONNAGE purchases. They drove to price to over $50 oz, I know, I was there, watched it happen and was already sitting on a couple 1,000 oz, myself but I did not sell, still won't !
I bought $150 face of silver quarters a while back. As I counted them I found 14 proof quarters in the mix. Most were in the mid to late 1950's. But one was even dated 1942. I sold them separately at a coin show for a nice profit. I also check reject slots in Coin Star machines and just last week turned up a 1964 Roosevelt dime. Another time I recovered a silver quarter. Apparently, these machines reject silver coins.
I haven't had luck at a CoinStar yet, but you'd better believe I check every time!
Yes they do! The weight is off, that's why they're rejected.
I make sure to go out of my way to check all the coin machines in stores. I've found up to 5 silvers in one find, not to mention lots of wheat pennies over the years.
Dropped off a bunch of change at a coinstar and it immediately spotted a 1953 silver dime. I'm definitely going to use them in the future to sort change just for this purpose.
@@thedavidballchannel Good ideal I will do so too , thanks
Buying junk silver is how I started buying silver back in 2008 after the crash - I love it because it's real American coinage and having a lot of it - it's fun to run it through my fingers like pirate treasure.
"I love it because it's real American coinage and having a lot of it - it's fun to run it through my fingers like pirate treasure." YES!!!
or Scrooge Mc Duck ! ha ha
Interested in getting anymore I inherited a bunch looking to sale. I’ll keep eye out for reply and we can figure out how to chat privately if interested. Cheers
@@caseG80 now is not the time to sell it. With the potential crumbling of our economy, I'd hold on to all you have and get more!
OK, to stay motivated as a precious metal buyer, maybe I should dump a couple bags of silver half-dollars into an old, metal-banded wood box and once-in-a-while pick up a handful and dribble coins into my other hand. Pirate attire optional. I have always liked the ringing sound of silver coins hitting each other.
My dad played slots in Los Vegas and Lake Tahoe for years in the 80’s. All the dollars were silver. He was very lucky and saved hundreds of coins.
EPIC!!!
My dad is a boss, he was born in 44. When he was 6 or 7 he found out a penny was going for 2c so he started buying 100 bucks from banks and rolling all those 2c pennies up. He was able to buy gold and silver coins with the money he made. In 1980 he sold some of his coins for 80k and bought Cisco Systems stock. He owns it to this day. 4% quarterly tons of splits on his investment. Boss at 7 lol you guys encourage kids like him to save and collect. Thanks
I remember those. How cool. It would be nice to buy some..
My gratitude and praise to this team of gurus por bringing my life back on track when I thought everything was gone! but with the help guidelines I was able to realized that the secret to making a million is saving for a better investment
The pandemic came and taught everyone the importance of having multiple stream of income unfortunately having a nice paying job doesnt mean you are financial secured anymore So we all need to put in an extra-income earning chance, like investments
@@jonathankristin8585Job will pay your bills business will make you rich but investment makes and keep you wealthy the future is inevitable
@@daviddayerl9381Yes I agree with you • Covid taught us the importance of having plan "B" income. You are not safe with just one paying job, when nobody knows what will happen next Look at what happened to so many of u
Investment in Gold over the years has proven to be a sustainable source of income but physically and in the the stock market
@@richardbessette5651Yes that’s true, I’ve been trading gold and crypto for a while and it’s been a fruitful investment
Scored a _nice_ Walking Liberty half in a roll last week. They were kind of rare even when I was a little girl in the early '60s. I think that's the reason I like junk silver. It's always like seeing an old friend.
I found a whole roll of Canadian silver dimes. Some one brought it in to pay for gas where I work.....best $5 I ever spent, bought it out of register on the spot! That was a great deal. Good video
Silver as of today is $23., a 1964 half dollar is going for about $13. if bought on eBay. If you think silver will hit $50. don't worry too much about overpaying a buck or two, right now, for 90% silver. When silver hits fifty bucks, half dollars will sell for 26 dollars. If you overpaid and bought them at 15 and sell them for 26, you're still ahead of the game !!
You buy off ebay?
@@HexVisualNovelPlaythroughs Bought off eBay for last 23 years.
Don't forget pre- 1920 Canadian silver is 92.5 % and up till 1967 was 80% and some 1968's are 50 % ( check to see non magnetic) 😉
Good to know. Thanks ❤🎉
My great grandfather (during his retirement) had many hobbies to keep his mind active with. One of which was coin collecting. And he had cleaned all of his one-cent pieces, and even some of his Morgan and Liberty dollars. I had also done so when I started collecting coins a decade ago, but fortunately I had UA-cam videos and different forums, all of which were more than happy to tell me what I’m doing wrong 😅
But I do enjoy the hobby to this day, collecting with an interest in history.
I have inherited a large amount of coins over the past decade. Thank god for the Internet, it gave me a new hobby and the power to not get scammed
This is an incredibly thorough breakdown for beginners! Thank you for a high quality video!
Glad you enjoyed it! This comment means a lot to me
@@SilverForeverX 🎎🥇🥈🥉🥉🏅🎖️🪅🪅🪅🪅🪅🪅🪅🪅rffftrfhhtfhbstgcfcvnmbnj
Well-organized, clear
presentation! Thank you!
I really love this video!!!
Thank you so much for educating me on this.
I love the way silver feels
Because of it's softness always leave a mark in eras or personal history like rings are the best.
Thank you again, I truly appreciate it and your time spent make this video is well valued than just another coin hunting videos.
Much 💜💜💜
Awesome info!Thank you dude!
Great video ! I really appreciate all the information. Been stacking for quite a while ! It’s addicting.
Awesome video! I used to spend a lot of free time coin roll hunting and only once did I score big. It was 13 90% kennedys in one roll.
I am new to this but you have taught me a lot about this coin business thanks a million keep up the good work !!
Thank you! Greatly appreciate the thorough details.
Pro tip for anyone here, the world war II nickels are probably the most common silver coinage that I see exchanged on a day-to-day basis. I worked a register for a long time and I was able to collect a pretty good chunk of world war II nickels
(Mainly because many people assume nickels never had silver) so it seems that these have survived the most. This anecdotal evidence of course and I could have been lucky but good luck out there!
1942-1945 nickels right? I sorted through my coin jar and found a couple of them
@@jaypost6202 Yes, and as a silver stacking method, i do recommend this because a lot of coin places will sell you these nickels at melt value instead of markups or anything like that. And even though they're only 35%, if you stack up enough, it's absolutely worth it, especially in the long run not having to pay on markups
Great choice I just added 85 war nickels in the last month
In 1964 the US mint also had to use up all the silver planchet/blanks they had left. Due to errors their are some 1965 that are silver. These error coins are worth a lot as numismatics
Yes, thank you for clarifying!!
f
i heard somewhere that president eisenhower said he didn't want american people having any silver...
@@soonersciencenerd383 lol that would be selfish
@@soonersciencenerd383 That is because he was a Jew.
Great video for new collectors! I've been at it for awhile now, but I wish I would have had this info when I first started out.
Great video, thanks for posting
Wow! This was really a great, informative video breaking down so much info into short and sweet understandable pieces, well done!
Glad it was helpful! What's the next topic I should do?
Sir,I just across your channel and first of all I want to say THANK YOU for keeping me as the chosen few (The ones who made it ALL the way to the end) It’s late here 11:34pm but I still sent this video to everyone I know telling them to give you a like because It was that good🙏 Your video just helped me tremendously. You will hear from me again. Great luck and success Me with you. GOD bless
Great info!! Just getting started in 90% and this was awesome knowledge. Thank you
Great video! Very informative! Thank you!
halves have always been my favorite. it’s only recently that dealers have started charging more for them. as long as they don’t cost more i prefer benjis in bulk due to less wear but i do love to cherry pick walkers. i have always avoided kennedys. not because i don’t like the design, but i hate having to verify the date each time. as a whole, they do have little wear but it’s still a pass for me
Lots of info here, both for the beginner as you point out, and also a fine reminder for the "silverbacks" among us! Thanks for a great video.
🍌🍌🍌
Great presentation and very informative. Thanks.
Been only collecting a few years an started to stack more recently so this video was really helpful thanks bud
I got back into the hobby 3 years ago and watching this video I learned Morgans and Peace Dollars have a little bit more silver then $1 face of dime and quarters. Very cool
I’m a new subscriber and I hit the bell for all notifications! This was a great tutorial on junk silver! Thanks again and keep up the great work! Also it was a thumbs up too!
Hitting that notification bell makes a huge difference! Thanks for your kind words and engagement with the channel. Welcome to the Accumulation Nation!
This was one of the most helpful videos I’ve ever seen.
Thank you for this video. I learned a lot from you. My wife's grandmother died and we had to do the house clean out and I found a very large amount of old coins foreign and domestic. Also found 800 steel pennies. I have started to look through them and man is this fun!!
Nice...it is fun .. nothing more!! I remember using steel pennies....I'm ole'...that's quite a hoard...keep it as a memory of your grandmother... It may be worth something to your great great great grandchildren!!!!!
In 1965 the new Ford Mustang sold for about $1500, silver or paper dollars. Today, those coins would still buy a decent new car, but the bills? Forget about it. There is a FIAT.
This is the whole story in a nutshell!
Thank you for the tidbits!
Best information ever.I've watched this several times.
Great information on Junk silver in once video. Well done. Some good tips as well.
Thanks, Sal!
Great video! I already knew most of the info, but you did such a great job, I watched it all the way through! You are extremely knowledgeable, but also your delivery is near perfect. Not too fast, not too slow, very seamless editing, and no monotone. Thank you!
Wow, David, what high praise! Thank you for this compliment.
Please ignore any comments about WhatsApp.. those are scams!! I deleted it.. Next video is all about scams and how to avoid them
I had dimes from 1950-1960’s (20) sold to pawn shop $109.00
I am Canadian and I loved this show. Thank you.
Thank you! Needed this info told to me in this exact way
There are very few guys who break down these very helpful tips for beginners. Watch this video as many times as necessary and you’ll be much more informed on your new coin collecting hobby.
It’s one thing to see old, rare, graded and type set coins which maybe will not be your first purchases compared to being able to initially identify the basic qualities to start your stacking. This video helps you to do that and I’m glad I found it again.
Thanks for sharing a valuable video to our stackers community.
STOP!!!!….. I made the mistake of going into a coin shop in my uneducated days and asking for ‘junk’ silver and was quickly scolded that no silver was junk, it was merely well used and circulated, and they were pretty serious. Like, seriously serious.
Good to know I'm late to stacking n I'm getting ready to go to my local coin shop. N I never knew this thanks
Yeah, I don’t like when people call it junk, because it’s all really cool stuff, each piece has its own history, and no two pieces are alike
Some people are so hung up on their superior knowledge or position that they like to belittle others. We are all newbies to things one time or another and should expect some consideration. I remember being embarrassed by a teacher once. I don’t condone my behavior, but I did suggest we step outside and settle it then and there.
Yeah, funny that they don't call worn and circulated pre-1933 gold "junk gold."
You just came up on my feed...thanks for the information, much appreciated. 👍🇺🇲
Best breakdown on junk silver. I understood it 😂 Thank you. Well done!
Excellent video, the UA-cam stacking community has really been awesome.
Who are some of your favorites?
Great video! I love Junk silver, always tells a story and simply looks cool. Currently stacking up my merc collection, that's my favorite too!
Sounds like we are on the same page!!
Have a bunch of merc if interested inherited grandfathers 😊
Thanks forever silber! Very informative for new silver addics.
You bet!
Wow thank you so much for this excellent informative video on junk silver coins and what to keep.
Awesome detailed video sir! Thank you
I really appreciate your comment. Let me know if there's another topic you'd like to see a 101 video about!
@@SilverForeverX I’d like to see a show on numismatic coins. Are they worth buying or collecting? Or should you stay away? Thank you 🙏
It's on the list! I'll admit, I still have a lot to learn, but I think I could do a decent one (for beginners)!
Definitely found this video helpful! Thank you!
I'll be re-listening to it to recall the info.
I'm a newbie and any info is helpful!
Thank you, thank you! ✨💰
These are the types of comments that make it all worth it! I'm working on some more 101 videos, here's one on silver bars for beginners: ua-cam.com/video/4U91ikxFXx4/v-deo.html
@@SilverForeverX oh wonderful! I really need and would love to listen to the 101 type videos! And I'll certainly pass them on to friends who are really new as well. Thanks in advance!! 🌟🌟🌟
Great video. Learned a lot. I have a bunch of really old coins handed down to me from Grandmothers and such. Thankfully, I never got rid of them.
Shared !!! Amazing amount of good info for my favorite category of wealth - Junk !!
Very well put together video.
Appreciate that, Blacky. Thanks!
@@SilverForeverX
Happy I found your channel! Just subscribed!
Great video I’m a fan of Mercury dimes for many reasons 🙂
👌 You have great taste
I watched this video when I was just getting into it not too long ago and I've watched it three times since to get all of your information down. Really appreciate it I wish I could give you more thumbs up as I watched it more time. Great content as usual thank you very much. One last thing the things that look like scratches in the Canadian silver dollar are the Northern Lights. Cheers
Great overview! Thanks
Great explanation of junk or constitutional silver as I am still learning about the prices of these old silver coins when buying in bulk or at auction! Thanks for taking the time we appreciate you too! New sub and 👍!
I'm really glad it was helpful! Comments like yours are what keeps this channel going! Looking forward to seeing you around, Dougster! Check out my playlist "Start Here" for similar videos that address other types of silver (e.g., bars)
Mercury and Roosevelt dimes, Franklin and Kennedy half dollars are my favorites to collect.
Great choices!
This was great man! Thanks for all the info!!
You bet! I put a lot of time into my videos, so it's really great to receive such positive feedback!
Thank you for picking up that wore out Dime that had 15% loss due to circulation! Great video!!🏆🏆🏆🏆🏆🏆🏆🏆🏆🏆🏆🏆🏆🏆🏆🏆🏆
Is Silver really worth it to buy ? In terms of the short term considering taxes and overall cost of upfront purchase then trying to resell when I actually need the liquidity, is physical or Silver stocks more worth the cost ? Because it seems to be when people speak of Silver their not being specific to the short term or Long term approach to justifying the purchase. Let me know your thoughts , thanks anyone
I concur with your assessment. It appears to be a viable strategy to hedge against inflation over the long-term. Thank you for sharing your insights.
Silver is often seen as a safe-haven asset that can protect against inflation and economic uncertainty. But like any investment, it carries risks. To determine if silver is the right investment option for you, an investment advisor can help you weigh the potential benefits and risks of investing in silver. They can also help you create a well-diversified portfolio that includes silver as part of a broader investment strategy. An investment advisor can help you decide how much of your portfolio should be allocated to silver and select other investments that can complement your silver holdings.
@@TomD226 Wow, that's really impressive! I could definitely benefit from the guidance of an investment advisor since my portfolio has been stagnant lately. Would you be able to share the name of the advisor who's been guiding you?
@lowcostfresh2266 Laurel Dell Sroufe is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@TomD226 Thank you for sharing; I will need all the help I can get because I recently sold some of my assets in order to invest in the silver market.
Hi everyone. Great vid, sadly everyone is an expert now with all the antique shows and bargain hunts. I started collecting silver just a short while ago here in the U.K. try getting some pre-1946 coins for a good deal let alone pre 1920’s. Thank you for the vid it’s good to explain in detail and breaking down the worth of each individual coin. Best wishes to all.
Thanks Pete!
Thankyou for the Excellent Presentation - -So Good to get Real Professional Opinion and Presentation
Thank you for all of this great information i'm a small time silver stacker still learning
I'm just getting into silver stacking now. Learning a lot from your video. I have 3 young Autistic sons, so what little money I have left I try to pick up a cheap junk silver coin or two, that way when they get older, hopefully I'll have a nice collection to split between them.
So awesome 😎
Good thinking ! Also, if the dollar collapses, you might be feeding all 4 of you by bartering those coins for food and supplies. Good Luck and God Bless you all
I remember when they changed over I was 5 and started picking them out of pocket change myself before 10 it was a good time but through the years I got seperated from them at different times and got more several times but everything changed at different times really great times back then and of course we took them for granted
Thank you for sharing this, let's learn the lesson to be careful about taking things for granted
Curious, how much were you able to get I went in the late 70’s collecting for newspaper route, old lady was giving dime tips in mercury loved it
@@Demy1970 a good bit through the years still get a couple every now and then
Got mercury’s if interested we can chat outside YT
Thanks for a great video!
Great information 👍 Much appreciated
Good pm sir nice content for sharing god bless you more
Thank you Wilfredo!
Thanks for the breakdown bro! Simplifying it makes it easier to watch for people like me!
Wow, Silver Forever, you've really put on a clinic here. This is arguably THE MOST COMPREHENSIVE primer on Junk Silver. I'm new to junk silver, so I found it especially informative. Thanks for the great content!
-WeeklyBULLION
Thank you for this comment!
"Junk silver" is an oxymoron!! If you are gonna promote COIN SILVER to your doubting friends, are you REALLY gonna call it "junk silver?"
I don't think so......
I've collected silver coins since childhood. I agree with everything in your video. Nice job!
Thank you for this video, the info was very helpful.
I do silver stacking myself and agree with his main points. I found that US Franklins, in most cases, are the best return on "junk silver" as they have one of the lowest premiums of the US silvers.
Great point Mr Buckles!
Agree
Yes Sir, you did put 'quality time into this video ! With that, I thank you very much, you're a Good Man !
Enjoyed listening. Thanks!
I am working on one each of each year of dimes, quarters and halfs from 1892-1964. To stack I usually stay with 5 and 10 Oz bars.
I'm doing something similar with the constitutional... unfortunately the premiums are just so high on junk right now-- but I still like to dig through the bin and try to find some good ones. Now I need the key dates, so that's a problem!
@@SilverForeverX I am not at the key dates point, but I do sift through to get the years I need. My lcs just went up to $8.25 per oz on constitutional, but I can buy in smaller amounts and get more coins for $25. Also, I consider the money I didn't blow on something else as 100% return, so I can't lose.
Great video.
I'm in Canada, so I buy 80% "junk" silver coins.
I have a guy who sells to me at spot.
I started with buying Maples and Britannias but currently, junk silver is a no-brainer.
I was just looking at my Voyager dollars under the microscope when you left this comment! I also lucked out and found a 80% dime in my change a few years back.. I agree that right now "spot" junk silver from your home country seems like a smart play versus paying really high premiums for the bullion coins. Right now you can't find USA 90% junk anywhere close to spot!
Where are you getting 80% Canadian junk at spot???
I took an interest when I found oldr coins, my parents left some coins for each of us when they passed. Now I always want to learn more. Thank you for these pointers.
Excellent video! I love stacking old coins
I don’t intend on selling to a dealer. When the dollar collapses this “junk silver” will be tangible currency along with all bullion.
Most dealers are still not paying above spot for constitutional, but peer-to-peer sales can still get you some premium. However, like you, I plan to hold my for the very long term
I just ordered my first barber junk silver.
At this point, I’m just trying to have a little bit of everything.
My least favorite is the Roosevelt dime and Washington quarters. My favorite junk silvers are the Mercury dime, walking Liberty half dollar, and Morgan dollars!
I like having the variety too! I agree, Rosies and Washington quarters are my least favorite, Merc dime and Franklin halves are my favorites, but the Walkers are really growing on me!
I agree, no reason to not have a little of everything! I don't stack bullion rounds and bars at all, so Constitutional (junk) is the way for me. I even started stacking 80% Canadian this week for the first time, always liked the look of them, and now that I have a little of it, I want to get more, but it's hard to find here in the U.S., at least at my LCS's near me. I did get some the other day for 17x face, so not too bad a price I think.
@@jzak5723 ex
how do I order these n from whom?
Could you help me to order my first junk silver please, any tips?
Great video ... thanks for the info!!
Great video!!!
Tons of great info here for the newbies. I respectfully disagree on the war nickels, though. For anyone who stacks with barter potential in mind, 35% war nickels are a great option as they have even less silver than a dime. As far as them taking up a lot of room, technically that is true, but it's not really an issue unless you live in a tiny house. The war nickels are gaining in popularity as people are waking up to their utility as barter money. Subbed.
I kinda agree some war nickels in good condition with full steps can command a good premium
Refining 35%/40% silver. Efficiency is relative. In any case, diversification is very important to me and my stack. And since I bought my war nickels under spot, no regrets. And the Kennedy 40%'ers were more a mission to complete an album. If/when 90% becomes exceedingly difficult to find, 35/40 will be the new high premium lol Even if they don't, I love coins
🤩😂
Efficiency is relative --- well said!
@Silver Forever However, I should be clear. I don't intend on growing the stack with MORE of that type of silver. Haha.
A few rolls were plenty 😉
The only "downside" I ever hear about 40% silver coins is that refiners don't like melting them and purifying them into bars. It's more work to remove that 60% of non-precious metal.
Thank you for the details. Much better informed and much supported my approach in purchasing junk silver.
Thanks, Jay! This video really turned out better than I could have hoped!
Very well done. informative as well as interesting. ty
Near the beginning you said a lot of the coins were melted down. Near the end you mentioned 35% war nickles, and refining fees. I feel that the melting down of U.S. silver
coins was a myth that was started during the last days of converting silver certificates for silver coins. I recall hearing people were going to the Philly mint with Silver Certificates getting coins and driving to a refinery across the Delaware River in New Jersey. They would sell the coins to the refinery and use the money to buy more Certificates. I started film processing around 1972, silver was about 2-3 per oz. I would electronically remove the silver from the waste and sell it to H & H refinery. It did not look like silver it was grayish and had a sulfury smell to it. It would assay out 92-94% silver. I would be charged an assay fee, and a refining fee. I believe they were 130- $150 for the assay, and 10% refining fee. If the coins were melted someone took a 10% hit for what??? If people were selling refineries their coins, the refinery had no reason to melt the coins, they were of a known purity and could be put on their books with a 10% profit. My scrap had to be melted and a bar poured, the bar would be assayed and weighed. The refinery could keep my bar on the books, without further refining, until needed, I already paid the refining fee.
90% is my favorite for stacking, .999 is for looking at, oops it got scratched, developed milk spots, is counterfeit, etc. no worry with Constitutional. Just type bullion in search box, many choices of silver sellers, compare prices, look at their feedback.
Good program, lots of positive advice, happy stacking.
Thank you SO much for sharing your perspective on this. You make a really compelling point and have given me a lot to think about (and research!)
Very interesting comment. .9999 is a slippery slope. Any damage, it’s expensive scrap metal. I never thought of that fact. Great insight.
I absolutely hate that people melt our history down y'all no that after there gone that's it it's not like they made more for when thses are gone it really makes me angry it's OUR HISTORY
I am more of a numismatic coin collector and it is hard for me to watch these older coins be melted down for their silver although I do collect silver myself.
I agree, it's hard to see it. Even calling it junk silver makes me cringe a little bit, but sadly that's the way it is. Market forces drive this stuff, and unless buyers are willing to pay more for these as coins (either numismatic or higher premium stacking), then refiners will likely melt them next time when the price spikes. If that happens, I'll definitely sell off bullion silver and hold onto my constitutional, but I imagine we will lose a lot again.
Can't agree more I will not sell silver to a person with intentions of melting our history no way no how once these are gone from folks melting them for the silver there gone never coming back makes me cringe
Awesome video! Just starting to learn of coins and you explained lots!!
Happy to help! Thanks for sharing your gratitude
I primarily stack to protect against a collapse of the dollar. A secondary reason is to serve as an inconvenient savings account. The fractional nature and predictable(ish) weight of junk silver is the primary reason I include junk silver in my stack. (In a barter situation, I don't really want to make change with a one kilo bar.)
Since I'm not collecting based on numismatic collectibility, I avoid the excessive premiums of coins. In a dollar collapse scenario, I seriously doubt if someone I'm trading with is going to get excited that an ounce of silver happens to be stamped with a token value of a dollar and came from a mint. To me, it just isn't worth paying close to double for the privilege of having the picture of an eagle instead of Keanu Reeves or Yoda. Haha
I like junk silver because it's liquid. No one questions it.
@@davidmorello2434 I have the same thought. In this doomsday scenario, and if I’m presented with two options: US coins (with an eagle on it) vs a funny looking bar with Yoda on it, I’ll take the eagle.
@@waterdd1 Yeah I don't mess around with bars or rounds. The premium is there for a reason. I doubt you'd even get spot for non-sovereign coins in a collapse scenario.
@@DowJonesDave exactly! Your response gave me another thought…. In the event of a collapse, how would you expect to know the spot price? …Are we assuming we still have internet, for example?
I guess I’m picturing a much worse scenario like that of the popular HBO show, “Last of us”.
@@waterdd1 Silver would still be valuable. The warlords and towns would use it for trade.
Back in the 1960s and even into the 1970s when you could still pick up pre1965 silver minor coinage out of circulation, it wasn't ever known as Constitutional silver. And it most definitely was never known as junk silver. From the beginning 900 fine silver coins were known as COINAGE silver. 900 fine bars of melted down coins were COINAGE silver. 90/10 silver/copper = COINAGE silver.
And I never saw any reason to change the name from that.
I'd be a fan of readopting "coinage silver"
Another source of low-cost silver, especially on the east coast, is rummaging through trays of silverware at estate sales, second-hand stores, or yard-sales. You won't find lots of sterling because that's well known and clearly marked, but very old spoons that seem pressed into shape from flat sheets of metal are often made of Coin Silver [90%] that you are talking about. They might be marked "Coin", "900", or only with the maker's name, but if you learn the look and feel of silver, you can easily walk away with handfuls of historic, 90% silver spoons.
Had this video playing while I was cleaning. My wife came in and listened in. She really enjoyed it. Thank you
Nice collection, good info .ty
I've got lots of silver coins from metal detecting over the years... Silver is out there alot more than you think.
What part of the world are you? I'd be so happy to find some silver, always clad!
Cincinnati Ohio. Lots of history around here.
Yes until folks continue to melt them down like they made more for when these are all melted it's our history stop melting
Back in the early 90's I was giving $7.50 each for silver half dollars. Then they went for $8 each. There were walking liberty, Franklin and 64 Kennedy halves. Have not bought any for several years now.
They're worth a bit more now!
I did the same. I remember thinking silver dollars were getting a little expensive at $10. each. Who knew?