Got Silver?

[john1929]

Ok so maybe this not the do it now and it is done with way.But if your looking to start a silver stash and can't risk $500-$1000 at once or you want to add a little bit at a time read on! My wife and got to thinking last yr about silver. Not having much to money to buy with we took a good bit of savings and got $500.00 in morgan dollars at a fleamarket. We got them for only 10% over silver cost. After that I wanted to get more but we did not have the money. So each day on my lunch break I walked over to the bank and asked for $40 in dimes. Each night I sat on my butt with the tv on and looked over the dimes for one's from 1964 and befor. Some nights I found one or two some nights I found none. At the time I was thinking I hope this pays off. After one roll is done I repack them and a dime if I found any and take them back to the bank the next day and start over. Today each 1964 or older dime is worth about $3.00. not much but it all add up over time. You can also do this with quarters and some other coins as well but they are much much harder to find this way. This is the best way to get low cost silver that I know of. At times I do buy some from antique shops if we can get them at the right price.

Thing's to know! If you buy from a flea market take your time! make sure your paying for silver not what some guy on ebay will pay for it! Also make sure it is a real! You may want to take a coin of the same type your buying but know it is real, and drop it on somthing hard. the sound you hear need to be the same from each coin. A copper or other fakes will not sound the same as a silver one.

Most U.S. pre1964 coins are 90% silver. War time Nikels from WW2 1942-1945 are also silver.
If you buy from an Antique shop try and find out what day the dealer(s) restock ther both and up the silver price. I have found that once they up it they will not come back down if silver go's down so get it when it is low!

I hope this help some of you out ther. I know this is not the best way to go about buying silver but if you have so time and not alot of money give it a try. Looking for dimes from the bank will only cost you
$0.10 for each coin you find. If anyone has a better way please post it. Thanks, John1929.

[HDM]

Sounds like a good idea to me. I wish my wife was still working at the bank!

[john1929]

You can also order them by the case at the bank and get alot at one time and take them back the next week! But mark the rools with a marker so if you go back your not getting ones you looked over last week.

P.S. Sorry for all the typeo's I suck at typing! lol

[baldsith]

I had a peace dollar collection from when I was a kid...also 3 tube socks full of half dollars...I found a coin shop that only charged a dollar over spot...got a little more, and decided to break up some of the half dollars for dimes and quarters...wish I could afford Gold...but I can't so silver will have to do....I do think that buying the rolled dimes is a good idea heck even if you only find one or two...thats like making 6 bucks on the work....My wife and I also dump all our change into a big bucket....then sort through it later to find any silver ones

[Pop_45]

I really like the idea of buying rolls of dimes. I will do that with my next check. I always go through my change looking for silver, but never thought to buy rolls.

[eeyore]

Right after my wife and i got married, up until we had our first child, she worked the night shift at a all night gas station. She would sort through the change each night. With nothing better to do at night, she would change the silver quarters and dimes for regular copper plated tokens you have now.

A few years ago i was remodeling a grocery store, the teller took 5 silver dollars from a customer as payment, the manager got those any place that deals in change would be an opputunity. A Coinstar machine would be a great resource.

[Deep Operator]

Silver is a great idea, dollar for dollar it is a better investment then gold. Silver over the last few years has beaten even gold on percentage investment. Physical gold and silver are the way to go, I never understood things like gold and silver stock. If you can befriend a dealer or someone who has silver and gold coins, they may give you a decent deal past the spot price.

There are many coins to choose from, I do like the silver Eagle and the Canadian maple leaf, but the smaller coins are good also, 90 percent halfs, quarters, dimes. I just like the bigger coins because of the higher silver percentage and the large amount provided in a bigger coin, all in one package. But there is nothing wrong with 90 percent silver coins.

If you are looking to buy some gold, just to deversify from silver, the .10 ounce golden eagle or the Canadian.10 and .20 ounce maple leaf are good choices.

One of the things that is occuring these days is that India and China are buying up a lot of silver and gold. Also the people in India and China are being encouraged to invest in them, at least the middle classes there. Hundreds of millions of investors in India and China.

Perhaps overlooked, is the fact that we are running out of precious and semi-precious metals. Silver is used in so many industrial, technological, and medical applications. Silver is used in so many electronic devices it is crazy. So all of this will drive up the value potentially.

[buttebob]

There's a larger percentage of silver in a silver dollar than in any other US coin. In other words: 5 dimes have the same amount of silver as 1 half dollar, but 10 dimes do not have as much silver as a silver dollar.
A silver dollar has .77344 oz of silver. A half dollar has .36169 oz of silver. A dime has .07234 oz of silver. A quarter has .18084 oz of silver. If you multiply all of these coins to get a dollar it works out to: dimes =.72334 oz, quarters= .72336 oz., and halfs= .72338 oz. This may help you to know if a dealer quotes you a set price for a dollar in face value. It would be your advantage to take silver dollars, however, silver dollars usally bring a premium over other coins. Everybody wants them and/or they have more silver.
Silver Eagles are different. They contain a full oz of silver. If you buy them from the US Mint they run about $54. Way over their silver vaule. Silver Eagles are also divided into two classes. If there's a mint stamp ( a W) they are considered coins, if they don't have a mint stamp they are considered silver bullion.
In a survival situation dimes and quarters would be preferred to silver dollars. As a transfer of wealth silver dollars would be preferred ( as it relates to silver and gold is better as a transfer of wealth). US 90 % silver coins are also better to have in TEOTWAWKI than silver bullion. Everybody knows what a US coin is, but not what a silver round is.

[610Alpha]

But mark the rools with a marker so if you go back your not getting ones you looked over last week.

You must still have banks that use paper rolls that you don't have to destroy to get the coins out of, that's a good idea to mark them assuming that they leave them in the original packaging. The rolls of coin I get from Banks are in plastic so you have to tear them apart to get the coins out. The coins that aren't silver go into a coffee can and I take them to my bank that lets me use their coin counter for free, they give me cash which I then go to another branch and get coins. I hit several different banks so that I am not going into the same one all the time. Maybe I should take my tinfoil hat off :)

[Benn Gleck]

Right after my wife and i got married, up until we had our first child, she worked the night shift at a all night gas station. She would sort through the change each night. With nothing better to do at night, she would change the silver quarters and dimes for regular copper plated tokens you have now.

A few years ago i was remodeling a grocery store, the teller took 5 silver dollars from a customer as payment, the manager got those any place that deals in change would be an opputunity. A Coinstar machine would be a great resource.

A Coinstar machine is a great place to pick up silver.... if you can stand around it all day. It doesn't accept silver coins, spits them back out.

My wife occasionally works near one and when a customer gets some spit back out she gives them a new one for it. She's picked up about 40 coins this year.

[barfife]

You can also order them by the case at the bank and get alot at one time and take them back the next week! But mark the rools with a marker so if you go back your not getting ones you looked over last week.

P.S. Sorry for all the typeo's I suck at typing! lol

Try to take your rolls that you have already gone through to another bank branch to prevent getting them back.

[UncleJak]

I tried this the other day with $20 of dimes and found two. I got so excited that today I am getting $80 of dimes to try again. Great tip!!!!

[610Alpha]

i have gone through several rolls and haven't found a single pre-65 dime, i have found 65's and newer.

[UncleJak]

I went thru 15 rolls tonight and only got 1, but thats 1 more than i had

[Echelleg]

I am a vender for my local paper and we still have the coin racks about town, so I get a fair amount of coinage every week. thanks o your post I have started checking the dates on all of my coins. I have found the "golden" dollars in there before and laughed because my machines do not exceopt them, they eat them. oops my gain. I found no 1964 dimes this week but I did find 2 1964 nickles. I got so excited until I researched on the web and found out that nickles are not silver, and except for a short period in the 40's they never have been. They are a composite of nickle and cooper. I found an interesting site and would like to know what you and others think of this as a way to get started.

" Unlike US dimes and quarters, which stopped being made of 90% silver after 1964, the composition of a nickel has essentially been unchanged since the end of World War II. It is still a 5 gram coin that is an alloy of 75% copper and 25% nickel. (An aside: Some 1942 to 1945 five cent coins were made with 35% silver, because nickel was badly-needed for wartime industrial use. Those "War Nickels" have long since been culled from circulation, by collectors.)

According to www.Coinflation.com, the 1946-2008 Nickel (with a 5 cent face value) had a base metal value of $0.0733 in February, 2011. That was 146.7% of its face value. I predict that as inflation resumes--most likely beginning in late 2011--the base metal value of nickels will rise substantially.

The Root of the Problem

It is inevitable that any country that issues a continually-inflated fiat paper currency will run into the problem of their coinage eventually having its base metal value exceed its face value. When this happens, it is one of those embarrassing "emperor's new clothes" moments. Unless a government takes the drastic step of lopping off a zero or two from their currency, this coinage problem is inevitable. In essence, we were robbed by our own government when silver coins were replaced with copper sandwich coins in the 1960s. I predict that essentially the same thing will soon to happen with nickels.

Helicopter Ben Bernanke will inflate his way out of the current liquidity crisis. through artificial lowering of interest rates, massive injections of liquidity, and monetization of the Federal debt. That can only spell one thing: inflation, and plenty of it. Mass inflation will mean much higher commodities prices (at least from the perspective of the US currency.)

In February, 2010 it was announced that the Obama administration had endorsed a change in the metal composition of pennies and nickels. And then, in November 2010, President Obama signed "The Coin Modernization, Oversight, and Continuity Act of 2010". It is very likely that the U.S. mint will begin producing debased nickels in late 2011 or early 2012. Once this change is implemented, you will then have to manually sort the "old" from the "new" debased nickels! But for now, there is still an open window of opportunity, during which time SurvivalBlog readers can salt away countless rolls and bags of nickels.

Within just a few years, the base metal value of a nickel is likely to exceed two times ("2X") its face value. (10 cents each.) The nickel will then begin to disappear from circulation. (Gresham's Law is unavoidable.) Unlike the mid-1960s experience, the missing nickels will not cause a crisis, since pennies will suffice for making small change, and most vending machines now use dimes as their smallest purchase increment. Meanwhile, most bridge tolls and toll roads have inflated so that tolls are in 10 or 25 cent increments. The demise of the nickel will hardly cause a ripple in the news."

This is quoted from WWW.survivalblog.com/nickels.html

I would really like to get ya'lls opinion on this. It doesn't seem like a bad idea to collect and store as many nickles as you can, what is there to loose?