Junk silver or 99.99% medallions?

Discussion in 'Financial Cents' started by Jeff Brackett, Oct 26, 2012.


  1. Jeff Brackett

    Jeff Brackett Monkey++

    Looking for opinions here from older and wiser monkeys. Okay, maybe just wiser monkeys.;)

    I've been slowly investing in some of the 99% medallions for a few months now - the budget won't allow too much, but I'm doing what I can. However, I'm beginning to question whether the extra cost of the 99% is going to make any difference in SHTF scenarios. I'd like to hear from some others whether or not you think the higher quality will pan out for barter situations. Would I be better off purchasing Junk Silver instead?
     
  2. TheEconomist

    TheEconomist Creighton Bluejay Site Supporter+

    Any chance you can post your purchase prices for the sliver you are buying as opposed to what you could be buying so I can do some actual financial calculations?
     
  3. Jeff Brackett

    Jeff Brackett Monkey++

    I typically pay about $115 for (2) 1oz rounds, and (10) 1/10oz rounds. I'm buying at http://www.silverandgoldshop.com where the 1oz rounds are currently selling at $37.05 each, and the 1/10 are $4.23 each. Pricing fluctuates a little around spot, but not too much.

    I was looking to possibly purchase junk at $128 for 4oz.

    However, it's not the just math that I'm concerned with. My question really pertains to whether or not the current additional value of the more expensive 99% rounds is likely to be recognized as such in SHTF scenarios. IOW, if we reach the point where silver becomes a staple for barter, is it really likely that I will get any more "bang for the ounce" from the 99% pure over the Junk Silver, or am I wasting time and money with the minted rounds?
     
  4. HK_User

    HK_User A Productive Monkey is a Happy Monkey Site Supporter

    Junk Silver is better for small purchases and is more in keeping with legal tender. In this I'm talking about accepted by Americans. Rounds are great for long term value but many do not know what they really or and since they are rounds they can be produced by anyone.

    OTOH Silver Eagles cover both sides of that line but are a larger value per item and may be harder to justify for barter.

    In short, purchase both and IMO that means 50/50 of each.

    YMMV and may we never have to find out what's best, but I'm not betting on that deal.
     
  5. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Just my opinion:
    Both have their places.
    don't buy Junk Silver at the Per ounce. buy it per dollar face value. Ounces come in 2 flavors, Troy and standard.
    I use the following ratio .715 Troy Ounce silver per $1 face value (4 quarters or 10 dimes or 2 quarters+5dimes) lots of the auctions on ebay say ounces but they don't say which. There is about .81 troy ounces of silver in 1 ounce of Junk Silver (90 percent silver coins) so if you are paying 33 per ounce you are actually paying over 40 per ounce when you do the math.

    Anyway, Both, HK called it for the small purchases, it is well known and it's legal tender here in the states.
    When it comes to rounds, you'd be best off with a well known mint or coin.
    American Silver Eagles, Canadian Maple Leafs, Australian Kokabara or Zodiacs, and Austrian Philharmonics.
    For private mints I'd prefer to see Apmex, Scottsdales, Stagecoach or NWT.
    the rest? I'm not so sure about. I had American Buffalos and the standing liberty generics but I've divested those holdings.
     
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