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Thread: What is your opinion of non-US junk silver?

  1. #1
    Sakata Guest

    Default What is your opinion of non-US junk silver?

    Is it worth buying? I've got some of British, Australian, Swiss and Swedish junk silver coins which I accumulated in lots which I bought at spot. I found a few nice coins in those lots worth more than spot so I am ahead.

    But one reason people buy junk is for its barter value if the economy goes haywire. And in the USA the 90% US junk will be more easily recognized. Other junk may have silver content but people may not know how much. I only have about 3-4% as much in foreign junk as US junk so it is not that big a deal, but I was kind of curious.

    I first got interested in silver by reading Howard Ruff's little book. He said to buy junk silver before anything else, which I did. But then he also said to by SLV. Having been accumulating gold and silver for some time now I am convinced he was wrong about SLV and I am having my doubts as to whether the junk silver was as important as he made it out to be.

  2. #2
    Join Date
    Mar 2009
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    3,489

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    Quote Originally Posted by Sakata View Post
    Is it worth buying? I've got some of British, Australian, Swiss and Swedish junk silver coins which I accumulated in lots which I bought at spot. I found a few nice coins in those lots worth more than spot so I am ahead.

    But one reason people buy junk is for its barter value if the economy goes haywire. And in the USA the 90% US junk will be more easily recognized. Other junk may have silver content but people may not know how much. I only have about 3-4% as much in foreign junk as US junk so it is not that big a deal, but I was kind of curious.

    I first got interested in silver by reading Howard Ruff's little book. He said to buy junk silver before anything else, which I did. But then he also said to by SLV. Having been accumulating gold and silver for some time now I am convinced he was wrong about SLV and I am having my doubts as to whether the junk silver was as important as he made it out to be.
    Way back when most people remembered junk silver still being in circulation. That would have made it a better trading item than it is now. As for foreign junk silver, I think it would make a terrible trading item here in the states. IMO, one would be much better off with smaller silver rounds instead.

    All forms of self defeating behaviors are unseen and unconscious, which is why their existence is denied.
    Vernon Howard

  3. #3
    Join Date
    Oct 2009
    Location
    England
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    185

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    I am in the UK, I buy a lot of 'junk' USA silver simply because so much of it, at least 30-40%, is amazingly quite collectible, and little date-sets seem to sell for me very well indeed. Franklin Half's sell no matter how worn.

    Otherwise, the postage costs would make it completely not worth it, after all, surely our 90% is the same as yours melted, and vice-versa.

    Everyone likes the novelty of the different, and some UK "junk" has been uncovered to contain great rarities. I bet the same goes for much USA "junk" that reaches Europe.

    When I monitor the 'dot com' (eg USA) of the well known auction site, often times a modest UK "scrap silver" coin goes to a collector for a good price. Same here in the UK, many quite worn 1964 Kennedy Half's can sell for $10-$11 no sweat.

    Kid you not, I have struggled to purchase a specific 1887 Victoria Young Head coin that just refused to appear on the regular auctions in the UK for months. The only one I found, just a few days back, was from a USA dealer and I got myself an absolute bargain and complete my collection

    I don't ever see my junk being used for barter per se. Tbh, I always saw junk as a great way to cash in on a silver moon-shot, which will come one day.

    Until then, the junk sack gets heavier and heavier, whether it be with silver Sixpences or my Roosevelt Dimes

  4. #4
    Sakata Guest

    Default

    Interesting, because I find the same in reverse. I have bought my junk UK silver in the USA as great prices because people know understand it. I foud some really nice George VI silver half crowns in a junk lot and I am sure I could sell them individually in the US for a lot more than junk. But then, I also found a lot of real junk, like 1920 shillings where the date was barely readable. Australian and Swiss "junk" on the other had is usually a much higher grade, frequently VF or better.

  5. #5
    Join Date
    Sep 2009
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    I buy alot of Canadian junk silver, its very fairly priced, and also quite liquid.

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  6. #6
    Join Date
    Jan 2010
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    Portland/Vancouver
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    I bought some of these............
    http://www.apmex.com/Product/9699/Me...r_Better_.aspx

    Who knows, maybe the peso will be worth $100 someday.

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  7. #7
    Join Date
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    Question

    One other problem I have with any kind of junk silver coinage is that it is usually if not always sold by its face value rather than by weight. So how can a $1,000 face bag of worn-out Mercury dimes have as much silver as $1,000 face bag of Eisenhower dimes?

    All forms of self defeating behaviors are unseen and unconscious, which is why their existence is denied.
    Vernon Howard

  8. #8
    akak Guest

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    Quote Originally Posted by What is Truth? View Post
    One other problem I have with any kind of junk silver coinage is that it is usually if not always sold by its face value rather than by weight. So how can a $1,000 face bag of worn-out Mercury dimes have as much silver as $1,000 face bag of Eisenhower dimes?
    That bothers me too, as if and when silver ever increases dramatically in value, I can envision "junk" silver (I hate that phrase!) being bought and sold by weight, as it really should be, rather than by face value. It is for just that reason that I only ever purchased circulated silver coins when the dealer graciously allowed me to pick through the bags at my leisure, so that I could chose the least-circulated coins instead of being stuck with barely-legible Liberty dimes and halves from the early 1930s.

    By the way, has anyone ever noticed that a roll of Liberty dimes is always "thinner" than a roll of Roosevelt dimes in the same condition? This always seemed strange to me.

  9. #9
    Join Date
    Dec 2008
    Posts
    1

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    For collection and exchange, yes it may be worth buying especially if it is slightly above spot for Extra-Fine and above coin.

    For sales, it no good at all at the moment, for every 100 oz silver I sold, I hardly sold 2 oz equivalent of 90% US coin silver back in Asia. Not sure about USA. One need to spend quite a bit of time going through the history to find out the silver % and content.

    Lot of people still don;t know above silver, thus if you want to do a good deed. then buy lots and lots of 90%, 80% etc other silver junk. then give it away as ang pau for Chinese New Year, New Year gift, birthday gift christmas present you name it. If U give them 1 oz of silver it may be too expensive for some considering the quantities involved. Of they may easily disposed it.

    These coins at this moment, can hardly sell, so they 've no choice but to keep it to themselves for quite sometime. Force Saving. Hopefully they never lose it but it ;s really beyond your control. Thus, the day when silver is USD100/- or more, they will be handsomely rewarding having to receive the coin from you.


    >>>

    Quote Originally Posted by Sakata View Post
    Is it worth buying? I've got some of British, Australian, Swiss and Swedish junk silver coins which I accumulated in lots which I bought at spot. I found a few nice coins in those lots worth more than spot so I am ahead.

    But one reason people buy junk is for its barter value if the economy goes haywire. And in the USA the 90% US junk will be more easily recognized. Other junk may have silver content but people may not know how much. I only have about 3-4% as much in foreign junk as US junk so it is not that big a deal, but I was kind of curious.

    I first got interested in silver by reading Howard Ruff's little book. He said to buy junk silver before anything else, which I did. But then he also said to by SLV. Having been accumulating gold and silver for some time now I am convinced he was wrong about SLV and I am having my doubts as to whether the junk silver was as important as he made it out to be.

  10. #10
    Join Date
    Feb 2010
    Location
    North Bay, Ontario
    Posts
    14

    Default

    I have 50%, 80%, 92.5% and 99.99% silver coins and bars. I started off with the 80% Canadian coins... then moved on to 99.9% bars. I don't know what I like best... the 99.99% Maples, the 99.9% bars or the SHTF 80 and 92.5% Canadian and American coins.

    All I know is that once you feel you have enough (80% and 92.5%) coins... you start thinking about getting fine silver (99.9% + Ag).

    I do know I have no attachement to my 50% coins... those are all for sell Great for starters to get their feet wet.

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