# Junk Silver



## Salt-N-Pepper (Aug 18, 2014)

I've seen some good thoughts by Maine-Marine on this subject but my search didn't find exactly what I was looking for so I thought I would bring it up here and see what people are thinking.

I am not a PM guy, but I do have a little junk silver (90 percent US coins). My grandfather left me his coin collection, includes complete sets of mercury dimes, quarters (32-64), plus a lot of other silver coins including dollars and half's... These have sentimental value to me and I won't be getting rid of any of them except in dire emergency.

I additionally have picked up, over the years of watching money come and go, another $30 or so in face value silver coins (pre-64).

Here's my question... I have other tangible items and property for "transitional wealth" and these coins I am keeping around just for barter. 

How much is enough? What do you anticipate the need/usefulness of silver junk coins to be in a long-term SHTF situation? Should I pick up a bit more, or is this more than enough?


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## Ripon (Dec 22, 2012)

How much is enough?

Well I find it to be two simple answers. 

1) How much do you want to carry. No seriously how much weight in PM's will you carry on foot with nothing but what you and your back can carry? I realize the weight of a single dime isn't significant, but a roll of dimes ads up. When you start planning a serious bug out bag and escape on foot how much weight matters and how much weight in PM's matter. You could sell some PMs that are cheap and buy things like 1/10th ounce gold pieces. They have a high mark up but in SHTF they probably have higher bargaining power too. They also weigh about the same as a dime.

2) This is also easy to answer. So long as you are not spending money you don't have, money you don't need, money you couldn't use on something else more important to your preparations then PM's is just another place to store your wealth and money - why does there need to be a limit to that?


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## Maine-Marine (Mar 7, 2014)

The answer is...Who Knows

If you are well prepped with food, water, security, etc...remember people use to go years without a trip to the store (settlers) and made or grew what they needed.

Make sure you have the food, medical, security, etc taken care of before you get more PM's... really make sure you have extra food... early on peanut butter/rice/etc will be more highly sought after...

Big time collapse.. you get get a days labor for a small jar of peanut butter...


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## PatriotFlamethrower (Jan 10, 2015)

WHEN the U.S. dollar crashes and burns, you will be glad that you have your "junk" silver as a means of monetary exchange for goods and services. Bartering will work great as a means of exchange for SOME things, but not for everything.

PRECIOUS METALS will be the ONLY legitimate monetary system that can be used.

Remember that the ONLY reason our paper money and metal alloy coins are worth anything right now is because the "full faith and credit of the federal government" says so. Doesn't that knowledge make you feel all warm and fuzzy?

My recommendation is to beef up your "stockpile" of pre-1965 U.S. silver coins AFTER you are satisfied with your stockpile of food, water, medical supplies, weapons, etc.


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## sideKahr (Oct 15, 2014)

Having a portion of your net worth in PMs is a good insurance policy, and as you state, one possible way to transition wealth from one paper monetary system to the next one. But use care. The authorities could tax the exchange of PMs at any rate they like, up to 100%, or just outright confiscate them. Carry no more than you could afford to lose. Most experts say 5-20%.


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## Diver (Nov 22, 2014)

I have a different perspective. The only way PMs take on a monetary role again, is in the context of a TEOTWAWKI or an event that lasts years. The implication is you need to be so prepped with food and every other supply that you're still around when trade resumes. Accumulating that much in the way of supplies for a group of any size, even a family of 4, is expensive and the resulting supplies take up a lot of space. You can probably do it on a small farm, but for those of use who live in urban or suburban areas, the real issue is even getting through the first 1-2 years, not worrying about what to trade with afterward. Even when trade does resume, what is there going to be to buy?

As a result, my view has always been to accumulate useful goods so I have something to sell to the guys with PMs. I do this by recognizing that I will not be perfect in my usage of preps. What ever I have too much of will be the goods for sale when the event passes.

Now you may ask why won't PMs become money again in a lesser breakdown. The answer is that they aren't plentiful enough in world with 7 billion (and growing) people. Using PMs we would be in a perpetual monetary shortage for people to be able to use PMs for exchange. You need a substantial reduction in population for PMs to work.

Where PMs have value is as an inflation hedge, which is a legitimate concern. PMs will hold value while money is being debased. This is a legitimate use of PMs, but it is not the same as PMs actually being used as exchange. You simply buy and hold until you want to sell, then use the funds raised for exchange.


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## PatriotFlamethrower (Jan 10, 2015)

Diver said:


> I have a different perspective. The only way PMs take on a monetary role again, is in the context of a TEOTWAWKI or an event that lasts years. The implication is you need to be so prepped with food and every other supply that you're still around when trade resumes. Accumulating that much in the way of supplies for a group of any size, even a family of 4, is expensive and the resulting supplies take up a lot of space. You can probably do it on a small farm, but for those of use who live in urban or suburban areas, the real issue is even getting through the first 1-2 years, not worrying about what to trade with afterward. Even when trade does resume, what is there going to be to buy?
> 
> As a result, my view has always been to accumulate useful goods so I have something to sell to the guys with PMs. I do this by recognizing that I will not be perfect in my usage of preps. What ever I have too much of will be the goods for sale when the event passes.
> 
> ...


I agree with you that it is difficult for "city dwellers" to engage in long-term prepping. The only answer is to move out of the city, which is also difficult if you are a committed city dweller.

As for your using PMs as a hedge against inflation, that is a great idea, but if the U.S. dollar becomes toilet paper, what exactly are you going to "exchange" your PMs for? Some sort of regional fiat currency?

This is a topic that is really difficult as far as coming to one conclusion or even one recommendation. We are prepping for a TEOTWAWKI event. Many people are. Many people are also prepping for "temporary" events that will alter our everyday lives for a few days or a few weeks or a few months.

None of us have a crystal ball. We can only make educated guesses, and all of our prepping plans are based on our financial abilities to prepare accordingly.


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## Smitty901 (Nov 16, 2012)

If you have any junk silver please feel free to mail it to me postage paid. I will dispose of it properly . In an environmentally correct way.


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## Maine-Marine (Mar 7, 2014)

we may not have crystals balls but we have a few thousand years of history...


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## Ripon (Dec 22, 2012)

My curiosity is this: you are a prepper, feel prepared, and SHTF is starting or you perceive it to be. Metals are rising, inflation is happening at record (for the U.S.) levels, and suddenly your $5.25 investment is worth $25. How many Preppers will part with their "profit" in order to buy something else, pay off a debt or ?


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## Maine-Marine (Mar 7, 2014)

Ripon said:


> My curiosity is this: you are a prepper, feel prepared, and SHTF is starting or you perceive it to be. Metals are rising, inflation is happening at record (for the U.S.) levels, and suddenly your $5.25 investment is worth $25. How many Preppers will part with their "profit" in order to buy something else, pay off a debt or ?


if it is looking like a real collapse.... paying debts may be a mute point....

Although there is one or two i would pay


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## jimb1972 (Nov 12, 2012)

If you only prep what you can carry we can all be done with prepping for under $1000. I have always hated the short sightedness of that argument, it only applies to a very narrow set of circumstances, the worst case scenario.


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## PatriotFlamethrower (Jan 10, 2015)

Smitty901 said:


> If you have any junk silver please feel free to mail it to me postage paid. I will dispose of it properly . In an environmentally correct way.


:bow:

Count me in, too! One man's junk is another man's treasure.


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## Ripon (Dec 22, 2012)

Having more then you can carry is fine. A few gold pieces are well over a thousand. Do you want to lug around 20 lbs of PMs when you need ammo, water and food that weighs more? I don't. That's why silver dimes are my favorite and 1/10th ounce gold pieces if I can get them without such a huge Mark up.

Having more then you can carry is great if you have a completely safe place for yourself and the metals.



jimb1972 said:


> If you only prep what you can carry we can all be done with prepping for under $1000. I have always hated the short sightedness of that argument, it only applies to a very narrow set of circumstances, the worst case scenario.


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## Maine-Marine (Mar 7, 2014)

jimb1972 said:


> If you only prep what you can carry we can all be done with prepping for under $1000. I have always hated the short sightedness of that argument, it only applies to a very narrow set of circumstances, the worst case scenario.


I also dislike it..

should we use the same saying for RICE, BEANS... only prep what you can carry...

My thinking is this... If SHTF is really really really bad and the bad folks can get to my place then there is still fuel around... I can pack up a vehicle or two

if there is no fuel... there is no way I am getting away from here with enough food for me and my kids (3 of who are under 6) - and I doubt a lot of bad hombres are heading to XXXXXXX, PA...


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## Diver (Nov 22, 2014)

PatriotFlamethrower said:


> I agree with you that it is difficult for "city dwellers" to engage in long-term prepping. The only answer is to move out of the city, which is also difficult if you are a committed city dweller.
> 
> As for your using PMs as a hedge against inflation, that is a great idea, but if the U.S. dollar becomes toilet paper, what exactly are you going to "exchange" your PMs for? Some sort of regional fiat currency?
> 
> ...


One need not be a "committed city dweller" to find that is where job opportunities, family connections, etc. happen to take one. Personally, I live in a suburban location. That's better than a city apartment, but far from rural. I can prep here for a pretty long term event, but not TEOTWAWKI. Given sufficient supplies, the idea of lasting in place for a year is viable. I doubt that PMs would become a medium of exchange within a year of a disaster.

As for what would replace the dollar, you have to first consider the type of event. Unless you are discussing an economic event, the dollar might well survive. For instance if the problem is a pandemic, there is no reason why people would not use dollars upon recovery. If the issue was an economic event, the dollar is far from the only currency in existence. Some other existing currency may hold its value while the dollar declines in value and that would be an easier transition than to PMs. In fact, for PMs to become a medium for exchange, all currencies would need to collapse.


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## Diver (Nov 22, 2014)

Ripon said:


> My curiosity is this: you are a prepper, feel prepared, and SHTF is starting or you perceive it to be. Metals are rising, inflation is happening at record (for the U.S.) levels, and suddenly your $5.25 investment is worth $25. How many Preppers will part with their "profit" in order to buy something else, pay off a debt or ?


Personally, I would exchange it for $25 worth of food in a heartbeat.


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## hayden (Apr 30, 2012)

I have been buying some junk silver coins. I love the dimes also. If paper currency becomes worthless you might be able to get a loaf or 2 of bread for one dime. Dimes are worth around a buck and a half now with the price of silver being low right now.


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## PatriotFlamethrower (Jan 10, 2015)

Ripon said:


> Having more then you can carry is fine. A few gold pieces are well over a thousand. Do you want to lug around 20 lbs of PMs when you need ammo, water and food that weighs more? I don't. That's why silver dimes are my favorite and 1/10th ounce gold pieces if I can get them without such a huge Mark up.
> 
> Having more then you can carry is great if you have a completely safe place for yourself and the metals.


The big problem with having gold is exactly why you like it so much. The "convenience" of not having to lug around a bunch of silver is MINOR, compared to the inconvenience of trying to "make change" with a 1/10 oz. Gold American Eagle coin (which is worth around $150.00 in today's market), unless you plan on spending $150.00 on goods and/or services, of course.

Silver may require more storage space, but silver is much easier to trade with.


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## John M (Jan 17, 2015)

Just my opinion but even if I had bucketloads of extra food I wouldnt trade any of it for any type of PM. (after shtf or teotwawki) If there is no established society structure there will be no trust. For instance you guys might trade peanuts for silver dimes but how does the guy with the silver dimes know that the next person will be willing to trade for silver? I know for a fact that I would'nt. 

As a hedge against heavy inflation silver is a great bet. But dont get junk silver just buy the bullion. But of course many readily traded real products will do this. Real estate, Metals,and Some Art.

On the topic of having more than you can carry, why not cashe items? Seems like far too many people leave this option out.


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