Investing in Junk Silver Coins
Junk Silver Coins
Prior to 1965 US dollar coins, half dollars, quarters, and dimes were made of 90% silver. Today these coins are no longer used and many were destroyed. They are still legal tender and every once in a while someone spends them. These coins are worth way more than face value, though. The term "junk silver" is used to describe them, but they are hardly junk. In fact they are treasure. With the price of silver climbing so is the value of these coins. They make great investments to hedge against inflation, and act as a store of wealth. Besides the 90% silver coins mentioned above nickels made between 1942 and 1945 are 35%, and Kennedy half dollars made rom 1965-1970 are 40% silver.
Why Invest in Silver
Silver is a precious metal that has many uses from jewelry to industry. It will have value whether the economy is bad or good. The price of silver goes up over time. If you bought silver when it was $5.40 in January of 2000 and sold it now you would have made way more money than if you had bought the S and P 500. Silver is much cheaper then gold (probably too cheap since silver is rarer) so it is easier to buy. For me Junk silver coins are one of the best ways to purchase silver. You can buy alot and sell them off easily a little bit at a time. No one needs to weigh them or test them like they would have to do jewelry.
How to Find Junk Silver Coins
1) Coin shops and pawn shops. These may not be the cheapest place to buy them, but they should always have them.
2) Garage sales, and estate sales. You can often get them for well below spot price at these places.
3) Coin roll hunting. Go to banks (preferably small town banks) and ask to buy rolls of coins, especially half dollars, and look through them for the old ones. You don't need to look at every coin's date. Simply look at the whole stack from the side. The silver coins will stand out, because they have no copper on the edge.
4) Grandparents. My grandfather gave me some silver coins many years ago. I never sold them and they've quintupled in value now.
5) Metal detecting. Metal detectors are expensive, but detecting is a good hobby. You may stumble upon a huge hoard worth thousands.
- Current Melt Value Of Coins - How Much Is Your Coin Worth?
Coinflation measures the current metal or melt value of U.S. circulating coinage, pre-1965 silver coins, and gold coins. Coin values are updated daily.
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