It's so funny that you said have to turn into scrooge.. my husband literally called me that yesterday because I had a magnifying glass out and was looking at stacks of old u.s. and foreign coins that I inherited trying to identify/sort each one.. it is such a process especially for the really old ones that aren't in the best condition
Quality dividend paying stocks give a consistent guaranteed income for as long as you own the stock. Buying silver is simply converting paper currency to a tangible asset which has both intrinsic value, precious metal value, and industrial value. It is also looked at as a form of long term savings and hedge against inflation. A balanced portfolio is a good approach.
I wanted to add that there is newer silver coins like the commemorative quarters that are 90 percent silver. Looking on the edges are the easy giveaway for those too
My LCS had the 90% silver proof state quarters in his junk silver bin just last week. He said someone stored their sets in a non ideal location and many got water in them. Grabbed all the nice ones I could.
Good stuff. Constitutional silver is great for stacking but there are things that everyone needs to understand before they start. This video hit the major points for sure. Thanks!
The difference between 8.33 and 8.18 is just over 1.018, less than 2%. From looking at my junk silver, a lot of "wear" is actually flattening. Sure, there is some wear. Considering that $1.40 in junk silver is just a hair OVER one try ounce, there can be quite a bit of wear before the coins go under one troy oz per $1.40.
I believe the government allowed about a 2% wear maximum on gold and silver coins at the time those coins were minted. Anything beyond that the coins were supposed to be withdrawn from circulation.
I reference your 90% cost breakdown sheet often. Most of my 90% has been bought from a local dealer at 18 X. I’ve been grabbing everything he has almost every week. Mercury dimes are my favorites, I could care less about a little silver loss.
Afew months ago walked inside my first Coin store, not a clue, just decided on Oz Canadian maple leafs. Pure 9999 Now with alittle education, glad I chose them, own only them. btw, did buy a SIGMA, rechecked everything, no fakes found.
Nearly all of the 50 lbs. of junk silve I have was collected by my Dad back in 63 and 64 so I really doubt I have any fakes. When it comes to my 40 Morgans and Peace dollars I bought about 30 years ago the only testing I did was the weight, size, magnetic, and sound.
Luckily, I filled a few thousand dollar face bags of halves...before halves got so hard to find here locally. At the time I got them, around 13x was the average price I paid...which worked out to spot at the time. Quarters and dimes are still plentiful locally, but halves are much harder to find.
I like coins that have seen life in the day that they were made, in addition to AU/BU specimens. Some develop a nice tarnish and tone. Collecting coins and antiques is like a door into the day that they were made, pieces of history.
I like to buy my junk silver in brilliant uncirculated condition since it is a small premium over worn junk silver. also, the coins look amazing compared to worn coins and there is numismatic value in your stacking collection.
@@inviz1769 Local coin shop in Dallas area called CR Coins. They sell mostly bullion but still get UNC rolls on a pretty regular basis with a about 10 to 15 dollars over junk roll prices.
to me it is the practicality of it. you can easily barter it. so even with the abrasion, people still know they can trust it. often more than with generic silver.
One of my favourite to stack is Canadian junk silver (80%). I live on the border but with them basically closed it’s tough to get US junk silver. I’m also working on a 50-cent monster box.
I don't mind the wear and tear on some coins, because i enjoy having the variety of designs. This is probably because i am not just a stacker, but am also a collector.
Thanks for this post. It's a good follow up to your previous post about calculating spot price for 90%. Thanks for sharing your experience and knowledge, and please keep the content coming SD!
Love your work! Watch you often; I bought a 70s Scrooge McDuck Pepsi glass that I bought shortly after I started stacking….Love drinking out of it as I sort…Looking for that 1916 D….then I’ll have my own #1 lucky dime
I love your videos, Silver Dragons. I have an alternative way to calculate 90% Silver Premiums & Cost, just because I look more at Spot Price and Purchase Price, per oz-t and calculate what the Premium Price is. Multiply $10 Face Value, times the multiplier, then divide it by 7.15 Troy Ounces (oz-t), because all 90% Silver US coins have the same amount of Silver in them for $10 Face. That means that 1 roll of 90% Halves, or Quarters or 2 rolls of 90% Dimes, are sold with a calculation of 7.15 oz-t of silver content per $10 Face, regardless of the coin's denomination. Example: $10 Face (for Halves, Quarters, or Dimes) X 20 (example multiplier) = $200 $200 / 7.15 oz-t = $27.972 = $27.97 per oz-t Then, to calculate the Premium, take the calculated $27.97 cost per oz-t & subtract the current Spot price (Example: $22.97), would calculate to a $5 Premium cost: ($22.97 Spot + $5.00 Premium = $27.97 per oz-t). If you want to calculate for $1 Face move the 7.15 divisor's decimal place to the left, 1 place & use 0.715 If you want to calculate for $100 Face move the 7.15 divisor's decimal place to the right, 1 place & use 71.5 Thank you Silver Dragons for putting out such great videos.
The premiums are high now...which makes it cost prohibitive. But wait until you see what they are in a few more years. I think they are a great investment. It's been money before, it's better than money now, and will continue to be money in the future. They're not making any more. It's like cars. You'll pay more for a 57 Chevy because it has antique value in addition to it's practical value. And BTW the rule of thumb is 0.715 troy oz silver per face value dollar and that INCLUDES the loss due to wear. They originally had slightly higher silver content per $1 face value (0.725 oz I think?).
Most RUclips silver stackers say that fractional silver rounds are the Worst silver to buy. However when you factor in how high the premiums currently are on constitutional silver, fractional silver rounds don’t seem too bad. For example, the Golden State Mint has 1/10 oz, 1/4 oz, and 1/2 oz, rounds for sale on their website. The 1/10 oz rounds are definitely too expensive, they currently come in at 40$ an oz. But the 1/4 oz and the 1/2 oz rounds come in at 29-30$ an oz. About the same as constitutional 20x-23x from the websites I have looked at. What are your thoughts on stacking those instead of junk silver? I see a couple benefits. It’s BU silver. It is easier to explain how much silver you have to someone less experienced, when potentially bargaining. And it’s 999 fine silver. Thanks for your videos I really learn a lot from them!
If one is buying "junk" silver as a financial investment hoping for gain, good luck. The better course is to buy it for insurance against the SHTF scenario, where it will become acceptable barter fodder once the disturbance subsides.
I traded a some 90% cull Washington quarters for rcm 10 oz bars. $20.50 of face plus a $20 bill for two bars. Not my best trade but I’m happy. Love the look and heft of this bars.
Personally I like benjis and walking liberties. I just finished my first tube today. Honestly though I'm mainly stacking to preserve wealth. Although I have one benji I want to get graded because I think I have full bell lines.
Since I take prescription medication, I use the empty pill vials for coin storage. Some of them will even fit silver dollars. Otherwise, I do count and verify. In a bag of 600 halves I found 3 40% Kennedy's and one 1964 with a hole in it. The dealer I purchased from made good on it. There were also 2 Columbian halves which I traded for $1.75 in lower value junk silver.
#2 "Authentication" You can do this by sound-testing them: balance the coin on the tip of your finger like a cymbal, and tap it with another coin. Fakes have a much higher pitch that sounds "tinny". Chinese fakes are everywhere, and usually made of "German Silver" (alloy of Copper, Zinc and Nickel). The fakes are also lighter than real silver coins.
All silver is well above spot. It's hard to find it close to spot! You have to be careful buying like on eBay because of all the fakes. All the big distributors are about the same and us mints are ridiculously expensive.
I see silver rounds and bars as being junk because they are typically generic and plentiful. I see legal tender coins as being better silver because they have a lower availability, quantity and are only produced by the year.
Don't forget. Currently, they are costing more in premium per ounce than rounds. Also, because they are not making more, that premium will probably not go down.
I understand that I'm a couple years late on this post but my bullion dealer treats all silver of the same denomination, all his halves are the same price per dollar value and his dimes and so on. He does charge more for dimes though because they are the most popular right now and he has a hard time keeping them in stock. The .715 Ozt is a standard formula for all junk silver since they all weighed about .724 new, this is supposed to account for the differences in wear. You'll have some weighing more and some weighing less but they should come close to averaging about .715 Ozt per one dollar face. So he's not charging or paying more or less for one over the other like say, Kennedy's over the Walkers. But he will charge more for AU/UNC coins in the same denomination. I'm not sure of other bullion dealers but this is my bullion dealer's philosophy, I personally go for the Benji's when I can though.
I verify junk silver but dropping them on a table or preferably kitchen counter. You can go through them really fast and it’s easy to tell by the sound. You can tell from ten feet away
1. No these are not hard to find at all. There is a ton out there. 2. The premium is reliable face value x $0000 per face value 3. Thes coins have been circulated, and the loss of silver has been included/deducted from the dollars per face value: look at the price of BU version, and the cost is SO MUCH more. Again, silver loss is why they cost less than their BU comparables. 4. If the price is too difficult to figure out, they should not be buying, don't you think? Helpful video.
To me, there are only two types of silver to buy. Constitutional silver and Nationally recognized silver bars. Constitutional silver for trade and barter if SHTF. Silver bars for building long term wealth. Bullion coins are faked too much and the premiums are crazy.
I'm glad you mentioned looking at the edges. I caught a couple of "newer" dimes in my junk silver when I bought some. The guy I bought them from was super cool about it and hooked me up. I looked up the Roosevelt dimes and they calculate at .0723 TOz vs mercury dimes, which calculate at .07123 Toz. I suppose that's because of the wear and tear over time?
Thanks for the reply! I appreciate your insight and your channel. I go to your channel first on silver and gold stacking but don't tell the rest of the guys! I don't wanna hurt their feelings. :( ;)
My 400 Mercurys weigh 95.36% of original weight. My 1000+ Roosevelts come in at 99.0%. My disproportionately old Washington quarters are 98.4% original weight, but a more typical batch would come in at least 99%. Franklins and Kennedys have very little, sometimes virtually immeasurable, ware. I don't stack walking or standing libery coins, but I would imagine they are like the Mercurys. I keep track of both face value and weight and currently they all add up to almost exactly the industry standard of 7.15 ozs. per $10 Face, which is 98.84% of original weight.
I thought my LCS would give me 3.5 ounce price for a roll of silver junk dimes, instead he would only pay me 65 dollars for a roll when silver was at 22 dolars an ounce on that day. He said that they pay out on junk silver by the coin times a fixed number, I don't recall the fixed number that was quoted on that day.
Why are junk silver coins hard to get? It sounds like everyone has bags and boxes full of them. How much cheaper is 90 percent silver than .9999 percent silver bars?
Here’s a tip for next time you weigh them in the tube thing Put a empty tube on the scale and hit tare then leave it then when you put the coins in and weigh it the tube weight will be gone so then you’ll know how much the coins weigh without the tube
Lol, going through my junk silver buy is a problem??? Half the reason I like the stuff is sifting through looking for rare dates and errors. Pawn shops are notorious for having No clue on what they are selling with regards to 90% silver. Keep searching and stacking!
I never buy 90% Kennedy half dollars. Only mercury dimes, Roosevelt dimes, quarters, and walking Liberty half dollars. I’m lucky enough to work at a coin shop and get them all at melt or sometimes $2 over per dollar face. I’ve been buying at least a roll a week.
Was Junk Silver premiums always this high? Seems like a waste of time paying $28 or $29.40 per oz compared to getting a solid .999 fine silver round or Maple Leaf. I never understood the thrill of junk silver. I understand buying it and selling it for more. But stacking it seems real dumb right now unless you think the world is going to end and you can only buy items using silver.
Heavens no!!! There were even times when there were discounts on the spot price. The biggest example I can think of was between mid January 1980- mid March of that year. Around mid January, even before silver hit $50, the refineries cut back on buying silver as so much was coming in from the public. They were only paying a bit more than 60% of the spot price. At $50 silver, 90% coins are theoretically worth 35 times over face. Top dealers were paying 20 times face at the time. Then when the silver market collapsed on March 27 at $11 an ounce, 90% was theoretically worth 8 times face. Suddenly, the premiums rose to 13 and 14 time over face. It wasn't until about 1982 when the premiums became more normalized. Needless to say, that was a wild time for the silver market.
one way to deal with dates on halves is to buy franklin halves mostly - they are easy to spot, not aware of a fake franklin half dollar issue and they are minimally worn...very easy to spot and to know you're dealing with a silver coin without needing to look at the date. i did start my stacking buying 1964 kennedys - but the dates bothered me and I switched to franklins - the date problem goes away with franklins - plus they are less worn than walkers. I like those guardhouse boxes - very nice way to keep my halves together and stacked nicely...gotta do the same with dimes too. oops - I see he discussed the franklins later in the video - got to that after my post.
My problem is one pays more for the same amount of silver, I mean bullion contains 99.9% and at most 90% for decent junk stuff! Holy cow as it is for bullion the premiums are over $5 a coin now, (1 ounce coins). And Eagles are $32 per coin, stupid expensive.
Eagles were never an item worth buying as premiums were always excessive. There will come a day when one will only be able to get spot for them, if they're lucky to even get that much for them.
Where can I get the coin holders ? I just started stacking 90% silver Dimes, Quarters and Walking half dollars so I do t need a lot of them plastic tubes.
I personally don’t like junk because when it comes time to sell people beat you up on condition, years. Don’t have to worry about that with rounds and such as long as you take care of them
It may be a problem for everyone but none of these problems are for me. Its junk silver odds are low off the bat that they would be counterfeit. These 4 problems are really 4 gifts ! Many people wish they had your problems!
Great video. I think the biggest drawback is that not only are u paying a huge premium when u buy - they dont typically even pay spot when u sell. So you are getting broken off there too.
My method of combating silver loss is to individually place the coins in stapled flips and place said 50mm flips in holder pages and then put those in a folder. Makes for nice organized viewing and decreases abrasion. Might not be the most space efficient, especially when compared to tubes, but it's reasonable in storage. And I consider it a good compromise vs. storing in a pouch vs storing in individual plastic capsules. Even tubes, unless you really pack them in, allow for shake and abrasion between the individual coins. 80s Finnish commemmorative coins come with this blue plastic flip with three pockets: one for the coin, one for the Finnish info sheet and another for the Swedish info sheet (official coin, so has to be bilingual). The problem with the coin pocket is that the opening, though facing the hinge, is quite spacious. Most coins I see in those have started to tarnish. I don't know how much the flips in the end will protect the coins, but it has to be better than the original package.
By the time you get the 90%, the silver loss has already occurred, due to it being in circulation. You don't have to do all that to mitigate further silver loss. You can stack in tubes and be done. Not like it's going to be jingling around pockets for 20 years or so, like the older circulated coins.
@@Threedog1963plus, even if there is a lot of jostling and shaking in tubes, is it really a problem? Most people are just going to fill the tube, then put it in the safe. It isn’t like you’re going to be carrying the tube around.
Hey thanks for your videos the only thing I can suggest is Maybe don't mention your guardhouse box? Naruto really care about your guardhouse boxes of where you put your silver it's the video
Taking constitutional silver to a refinery IS a bad thing! I’m not sure why anyone would, unless they just didn’t know a better way to go about selling it, nowadays. Premiums are pricing junk silver quite high around 22x around my area
i have a question. do you break open rolls of coins from places like apmex to check? they guarantee many of their products. do buyers prefer unbroken rolls from accredited dealers or should you always break open and check?
Almost walked out of coin shop with a fake dime good thing I looked at the side and the owner replaced it with a real dime. Been buying a lot of 40 percent from him lately he sells that at spot but it's like 28 or more a ounce for 90 percent and yes it go from 28 a ounce to 30 next week back to 28 next week the stuff is running out so it is volatile... the future is coming one day 40 percent will run out.
It will cost more to buy a decent safe than the return from the silver you can store within it. Would it not be better just to stack empty safes as they appreciate in price along with inflation? Silver is nowhere close to keeping up with inflation.
I use to stack junk silver but stopped and sold off the last of my coins a few years back with the exception of a few silver dollars . Now, I just buy ASE and the occasional small gold purchases.
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The problem is that it's addictive.
A good addiction though
And expensive and it takes up more room than 999
Good barter silver too….lol
@@moefritz9568better to have a junk silver addiction rather than a gambling or drug addiction 👌🏽
It's so funny that you said have to turn into scrooge.. my husband literally called me that yesterday because I had a magnifying glass out and was looking at stacks of old u.s. and foreign coins that I inherited trying to identify/sort each one.. it is such a process especially for the really old ones that aren't in the best condition
My dad was big into buying silver. I just can’t justify it, not at any meaningful scale anyways. I’d rather buy something that pays dividends.
Quality dividend paying stocks give a consistent guaranteed income for as long as you own the stock. Buying silver is simply converting paper currency to a tangible asset which has both intrinsic value, precious metal value, and industrial value. It is also looked at as a form of long term savings and hedge against inflation. A balanced portfolio is a good approach.
You proved your point real good with the weight calculator, I always suspected there was wear loss on old silver! Great video!
I wanted to add that there is newer silver coins like the commemorative quarters that are 90 percent silver. Looking on the edges are the easy giveaway for those too
My LCS had the 90% silver proof state quarters in his junk silver bin just last week. He said someone stored their sets in a non ideal location and many got water in them. Grabbed all the nice ones I could.
2019 and up are .999.
@@tedbundywastheultimatechad8400 I think it is 2020 and up I have the Bat samo one and I think its 90% at least that's what my LCS sold it as.
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My 1 big problem with it is the absurd premiums right now. I'm better off buying silver Britannias at these prices
Good stuff. Constitutional silver is great for stacking but there are things that everyone needs to understand before they start. This video hit the major points for sure. Thanks!
The difference between 8.33 and 8.18 is just over 1.018, less than 2%. From looking at my junk silver, a lot of "wear" is actually flattening. Sure, there is some wear. Considering that $1.40 in junk silver is just a hair OVER one try ounce, there can be quite a bit of wear before the coins go under one troy oz per $1.40.
I believe the government allowed about a 2% wear maximum on gold and silver coins at the time those coins were minted. Anything beyond that the coins were supposed to be withdrawn from circulation.
I reference your 90% cost breakdown sheet often. Most of my 90% has been bought from a local dealer at 18 X. I’ve been grabbing everything he has almost every week. Mercury dimes are my favorites, I could care less about a little silver loss.
Same except 20x here. Only Mercs,Walkers,Franklins for me
👍Historical value + awesome Mercury design!
How do you calculate? When spot was 22.40 i was buying 1FV at 20.78
@@jcryptogoldsilv2826 that would be around $29 per toz. Silver dragons has a link in this videos drop down. I screenshot the guide for quick reference
@@lantzfamilyadventures5845 is that ok? Or really bad?
Afew months ago walked inside my first Coin store, not a clue, just decided on Oz Canadian maple leafs. Pure 9999
Now with alittle education, glad I chose them, own only them.
btw, did buy a SIGMA, rechecked everything, no fakes found.
Nearly all of the 50 lbs. of junk silve I have was collected by my Dad back in 63 and 64 so I really doubt I have any fakes. When it comes to my 40 Morgans and Peace dollars I bought about 30 years ago the only testing I did was the weight, size, magnetic, and sound.
when it comes to differentiating if its silver or not, I just look at the edges. So quick and simple.
I've got a couple Kennedy half dollars (1965, 1967) that you cannot see any copper color on the edges.
Luckily, I filled a few thousand dollar face bags of halves...before halves got so hard to find here locally. At the time I got them, around 13x was the average price I paid...which worked out to spot at the time. Quarters and dimes are still plentiful locally, but halves are much harder to find.
HAve a lot of barbers, a lot easier to trade.
Fast forward to August 2024 $29 oz spot price
My local shop has junk at the following price
30X x 1.4= $42 per oz
Also gold is $2500 oz
I like coins that have seen life in the day that they were made, in addition to AU/BU specimens. Some develop a nice tarnish and tone. Collecting coins and antiques is like a door into the day that they were made, pieces of history.
I love going through new junk silver, because you know it's very very low for counterfeiting, so much fun to find a valuable coin
90% used to have a premium of under $1/oz and was my goto 'order filler'. Now that its around $10 I will go for better priced options
I like to buy my junk silver in brilliant uncirculated condition since it is a small premium over worn junk silver. also, the coins look amazing compared to worn coins and there is numismatic value in your stacking collection.
Where do you buy?
@@inviz1769 Local coin shop in Dallas area called CR Coins. They sell mostly bullion but still get UNC rolls on a pretty regular basis with a about 10 to 15 dollars over junk roll prices.
to me it is the practicality of it. you can easily barter it. so even with the abrasion, people still know they can trust it. often more than with generic silver.
One of my favourite to stack is Canadian junk silver (80%). I live on the border but with them basically closed it’s tough to get US junk silver. I’m also working on a 50-cent monster box.
I only stack junk silver and the main problem with it is it gets very very heavy!
And take up more storage space.
There is tons of junk silver available, $1000 face value bags everywhere including my LCS. The high premium is all about the greed of the wholesalers.
I don't mind the wear and tear on some coins, because i enjoy having the variety of designs. This is probably because i am not just a stacker, but am also a collector.
Thanks for this post. It's a good follow up to your previous post about calculating spot price for 90%. Thanks for sharing your experience and knowledge, and please keep the content coming SD!
The takeaway after listening to all this, there really is no problem.
Massive thank you for putting out the content! You’ve helped me Come up to speed on all things silver!
The premium on 90% is driving me crazy. Spot price is low, but people still want 20x face value!
Now face value is at spot but the price of silver is high.
Love your work! Watch you often; I bought a 70s Scrooge McDuck Pepsi glass that I bought shortly after I started stacking….Love drinking out of it as I sort…Looking for that 1916 D….then I’ll have my own #1 lucky dime
I love your videos, Silver Dragons. I have an alternative way to calculate 90% Silver Premiums & Cost, just because I look more at Spot Price and Purchase Price, per oz-t and calculate what the Premium Price is.
Multiply $10 Face Value, times the multiplier, then divide it by 7.15 Troy Ounces (oz-t), because all 90% Silver US coins have the same amount of Silver in them for $10 Face. That means that 1 roll of 90% Halves, or Quarters or 2 rolls of 90% Dimes, are sold with a calculation of 7.15 oz-t of silver content per $10 Face, regardless of the coin's denomination.
Example: $10 Face (for Halves, Quarters, or Dimes) X 20 (example multiplier) = $200
$200 / 7.15 oz-t = $27.972 = $27.97 per oz-t
Then, to calculate the Premium, take the calculated $27.97 cost per oz-t & subtract the current Spot price (Example: $22.97), would calculate to a $5 Premium cost: ($22.97 Spot + $5.00 Premium = $27.97 per oz-t).
If you want to calculate for $1 Face move the 7.15 divisor's decimal place to the left, 1 place & use 0.715
If you want to calculate for $100 Face move the 7.15 divisor's decimal place to the right, 1 place & use 71.5
Thank you Silver Dragons for putting out such great videos.
This is the same formula I've been using, I wish I'd have seen it before I took the time to figure it out myself😅.
Excellent video. I'm blessed to have a respectable local pawnshop. I regularly buy their constitutional silver and I've never had any problems.
The premiums are high now...which makes it cost prohibitive. But wait until you see what they are in a few more years. I think they are a great investment. It's been money before, it's better than money now, and will continue to be money in the future. They're not making any more. It's like cars. You'll pay more for a 57 Chevy because it has antique value in addition to it's practical value. And BTW the rule of thumb is 0.715 troy oz silver per face value dollar and that INCLUDES the loss due to wear. They originally had slightly higher silver content per $1 face value (0.725 oz I think?).
I won a bit on ebay for 2 1955 S and P Benji half dollar uncirculated, lustered, and toned for 13.87. I say that was a steal.
Most RUclips silver stackers say that fractional silver rounds are the Worst silver to buy. However when you factor in how high the premiums currently are on constitutional silver, fractional silver rounds don’t seem too bad. For example, the Golden State Mint has 1/10 oz, 1/4 oz, and 1/2 oz, rounds for sale on their website. The 1/10 oz rounds are definitely too expensive, they currently come in at 40$ an oz. But the 1/4 oz and the 1/2 oz rounds come in at 29-30$ an oz. About the same as constitutional 20x-23x from the websites I have looked at. What are your thoughts on stacking those instead of junk silver? I see a couple benefits. It’s BU silver. It is easier to explain how much silver you have to someone less experienced, when potentially bargaining. And it’s 999 fine silver.
Thanks for your videos I really learn a lot from them!
If one is buying "junk" silver as a financial investment hoping for gain, good luck. The better course is to buy it for insurance against the SHTF scenario, where it will become acceptable barter fodder once the disturbance subsides.
TIP : YOU SHOULD NEVER STACK SILVER HIGHER THAN 7 FEET. IT COULD FALL OVER AND SOMEONE COULD GET HURT.
Found a worn 1992 silver proof quarter in with constitutional silver once.
I'll stick with. 999 or .9999 silver. For bartering, i know I would accept pure silver over junk silver for my services or merchandise any day.
Accurate
I traded a some 90% cull Washington quarters for rcm 10 oz bars. $20.50 of face plus a $20 bill for two bars. Not my best trade but I’m happy. Love the look and heft of this bars.
Personally I like benjis and walking liberties. I just finished my first tube today. Honestly though I'm mainly stacking to preserve wealth. Although I have one benji I want to get graded because I think I have full bell lines.
Mercuries are nice too, a bit more fungible in case of SHTF situation.
Yeah, and try to sell them back to the coin shop. I bet he quotes melt value minus some percentage.
Since I take prescription medication, I use the empty pill vials for coin storage. Some of them will even fit silver dollars. Otherwise, I do count and verify. In a bag of 600 halves I found 3 40% Kennedy's and one 1964 with a hole in it. The dealer I purchased from made good on it. There were also 2 Columbian halves which I traded for $1.75 in lower value junk silver.
#2 "Authentication" You can do this by sound-testing them: balance the coin on the tip of your finger like a cymbal, and tap it with another coin. Fakes have a much higher pitch that sounds "tinny". Chinese fakes are everywhere, and usually made of "German Silver" (alloy of Copper, Zinc and Nickel). The fakes are also lighter than real silver coins.
I buy a lot of the walking liberty, mainly due to my love for the coin design
Extremely helpful and much appreciated
All silver is well above spot. It's hard to find it close to spot! You have to be careful buying like on eBay because of all the fakes. All the big distributors are about the same and us mints are ridiculously expensive.
Why is it called a guard house box?
Some people like myself are error hunters and enjoy looking at coins through a magnifying glass. Half dollars are also 40 percent silver up to 1969
I see silver rounds and bars as being junk because they are typically generic and plentiful. I see legal tender coins as being better silver because they have a lower availability, quantity and are only produced by the year.
Don't forget. Currently, they are costing more in premium per ounce than rounds. Also, because they are not making more, that premium will probably not go down.
@@rbolton3865 true.
I understand that I'm a couple years late on this post but my bullion dealer treats all silver of the same denomination, all his halves are the same price per dollar value and his dimes and so on. He does charge more for dimes though because they are the most popular right now and he has a hard time keeping them in stock. The .715 Ozt is a standard formula for all junk silver since they all weighed about .724 new, this is supposed to account for the differences in wear. You'll have some weighing more and some weighing less but they should come close to averaging about .715 Ozt per one dollar face.
So he's not charging or paying more or less for one over the other like say, Kennedy's over the Walkers. But he will charge more for AU/UNC coins in the same denomination.
I'm not sure of other bullion dealers but this is my bullion dealer's philosophy, I personally go for the Benji's when I can though.
Nice collection of Franklin half dollars my favorite half dollar to stack.
Appreciate the explanation of the issues presented with stacking junk silver. 👌
I verify junk silver but dropping them on a table or preferably kitchen counter. You can go through them really fast and it’s easy to tell by the sound. You can tell from ten feet away
1. No these are not hard to find at all. There is a ton out there. 2. The premium is reliable face value x $0000 per face value 3. Thes coins have been circulated, and the loss of silver has been included/deducted from the dollars per face value: look at the price of BU version, and the cost is SO MUCH more. Again, silver loss is why they cost less than their BU comparables. 4. If the price is too difficult to figure out, they should not be buying, don't you think? Helpful video.
To me, there are only two types of silver to buy. Constitutional silver and Nationally recognized silver bars. Constitutional silver for trade and barter if SHTF. Silver bars for building long term wealth. Bullion coins are faked too much and the premiums are crazy.
When stacking junk, why stock halves, quarters, AND dimes? Availability?
At this time I am getting my junk at 18x for. Love my LCS.
My LCS seems to have a lower price as well. Good point.
Everyplace is $20 per 1 dollar face.
How much for 10FV?
*Another great/ informative video mate. Thank you. I love collecting (not stacking) silver commemorative coins.*
I'm glad you mentioned looking at the edges. I caught a couple of "newer" dimes in my junk silver when I bought some. The guy I bought them from was super cool about it and hooked me up. I looked up the Roosevelt dimes and they calculate at .0723 TOz vs mercury dimes, which calculate at .07123 Toz. I suppose that's because of the wear and tear over time?
yeah probably the wear and tear… the edges are a good check for sure! 🔥🐉
Thanks for the reply! I appreciate your insight and your channel. I go to your channel first on silver and gold stacking but don't tell the rest of the guys! I don't wanna hurt their feelings. :( ;)
I buy Roosevelt dimes by face value and mercury dimes by weight.
@@SilverDragons47 Yes, those Mercs are prone to becoming slicks.
My 400 Mercurys weigh 95.36% of original weight. My 1000+ Roosevelts come in at 99.0%. My disproportionately old Washington quarters are 98.4% original weight, but a more typical batch would come in at least 99%. Franklins and Kennedys have very little, sometimes virtually immeasurable, ware. I don't stack walking or standing libery coins, but I would imagine they are like the Mercurys. I keep track of both face value and weight and currently they all add up to almost exactly the industry standard of 7.15 ozs. per $10 Face, which is 98.84% of original weight.
I thought my LCS would give me 3.5 ounce price for a roll of silver junk dimes, instead he would only pay me 65 dollars for a roll when silver was at 22 dolars an ounce on that day. He said that they pay out on junk silver by the coin times a fixed number, I don't recall the fixed number that was quoted on that day.
Why are junk silver coins hard to get? It sounds like everyone has bags and boxes full of them. How much cheaper is 90 percent silver than .9999 percent silver bars?
I've ended up stacking a lot of junk this year as it's been the most cost effective way to buy by a long way. Those guardhouse boxes are a good shout
Here’s a tip for next time you weigh them in the tube thing
Put a empty tube on the scale and hit tare then leave it then when you put the coins in and weigh it the tube weight will be gone so then you’ll know how much the coins weigh without the tube
I have a problem with the price. The coin shops are charging more per oz than for generic bullion and that ain't right.
East tn here. Generic rounds $30 + usually 31. 90% is usually 20 to 21x LCS has a sign that says 24 but they will do 20 OR 21X
@@dustintilley6886 At my shop rounds are $27 right now and 90% is 20x face, so it's a whole dollar higher per oz. Kinda stupid imo.
@@ed00001 what area are you in?
@@dustintilley6886 Portland, OR
Lol, going through my junk silver buy is a problem???
Half the reason I like the stuff is sifting through looking for rare dates and errors. Pawn shops are notorious for having No clue on what they are selling with regards to 90% silver. Keep searching and stacking!
Agree 👍.
Picked up a nice 1921 P mercury for 19x face
The problems the you elucidated do not outweigh the premiums that dealers charge on new silver rounds and bullion.
I never buy 90% Kennedy half dollars. Only mercury dimes, Roosevelt dimes, quarters, and walking Liberty half dollars. I’m lucky enough to work at a coin shop and get them all at melt or sometimes $2 over per dollar face. I’ve been buying at least a roll a week.
As I'm in the UK I've never heard of face+ as a way of paying/selling, it's always spot+, normally around 10%
The A word your looking for is Abrasion (the process of scraping or wearing something away) The abrasion level may be high or low.
Was Junk Silver premiums always this high? Seems like a waste of time paying $28 or $29.40 per oz compared to getting a solid .999 fine silver round or Maple Leaf. I never understood the thrill of junk silver. I understand buying it and selling it for more. But stacking it seems real dumb right now unless you think the world is going to end and you can only buy items using silver.
Heavens no!!! There were even times when there were discounts on the spot price. The biggest example I can think of was between mid January 1980- mid March of that year. Around mid January, even before silver hit $50, the refineries cut back on buying silver as so much was coming in from the public. They were only paying a bit more than 60% of the spot price. At $50 silver, 90% coins are theoretically worth 35 times over face. Top dealers were paying 20 times face at the time. Then when the silver market collapsed on March 27 at $11 an ounce, 90% was theoretically worth 8 times face. Suddenly, the premiums rose to 13 and 14 time over face. It wasn't until about 1982 when the premiums became more normalized. Needless to say, that was a wild time for the silver market.
one way to deal with dates on halves is to buy franklin halves mostly - they are easy to spot, not aware of a fake franklin half dollar issue and they are minimally worn...very easy to spot and to know you're dealing with a silver coin without needing to look at the date.
i did start my stacking buying 1964 kennedys - but the dates bothered me and I switched to franklins - the date problem goes away with franklins - plus they are less worn than walkers.
I like those guardhouse boxes - very nice way to keep my halves together and stacked nicely...gotta do the same with dimes too.
oops - I see he discussed the franklins later in the video - got to that after my post.
You got me stuck on dragons. I have to add a dragon to my collection now. 🙂
I personally like the hobby, history and collecting of coins not so much of stacking when SHTF happens. Other than that good video.
Great information. I do like buying constitutional silver coins to put into my albums.
I’m a big fan of the Benjamin’s. You know they are silver so unless you get a straight up counterfeit you know it’s 90%
@Billy Mack, Texas Detective I just meant that they were never minted in clad so if it’s a benji it’s silver unless it’s a straight up counterfeit.
My problem is one pays more for the same amount of silver, I mean bullion contains 99.9% and at most 90% for decent junk stuff! Holy cow as it is for bullion the premiums are over $5 a coin now, (1 ounce coins). And Eagles are $32 per coin, stupid expensive.
Eagles were never an item worth buying as premiums were always excessive. There will come a day when one will only be able to get spot for them, if they're lucky to even get that much for them.
I just troll eBay and will only buy junk silver when I can get it at or below spot. Lots of deals out there, just need to know how to find them
Where can I get the coin holders ?
I just started stacking 90% silver Dimes, Quarters and Walking half dollars so I do t need a lot of them plastic tubes.
I want to get into junk but why is it all $8 plus over spot?
Where are you buying this box of coins?
I personally don’t like junk because when it comes time to sell people beat you up on condition, years. Don’t have to worry about that with rounds and such as long as you take care of them
I haven’t bought very much constitutional silver, I’ve gotten most of mine through bank boxes and a coinstar machine.
I look at the condition of coins before buying. I don't buy much of the mercury dimes and walking liberty due to most of them being slick.
I would love to be able to buy a used sigma but have never seen one being sold anywhere
Try stacking silver state quarters instead they have more silver content because they haven't been circulated
It may be a problem for everyone but none of these problems are for me. Its junk silver odds are low off the bat that they would be counterfeit. These 4 problems are really 4 gifts ! Many people wish they had your problems!
i buy constitutional silver to have something to barter with when SHTF
Great video. I think the biggest drawback is that not only are u paying a huge premium when u buy - they dont typically even pay spot when u sell. So you are getting broken off there too.
That's why you sell to other stackers or collectors and try to avoid coin dealers.
@@jayman1601 Easier said than done!
My method of combating silver loss is to individually place the coins in stapled flips and place said 50mm flips in holder pages and then put those in a folder. Makes for nice organized viewing and decreases abrasion. Might not be the most space efficient, especially when compared to tubes, but it's reasonable in storage. And I consider it a good compromise vs. storing in a pouch vs storing in individual plastic capsules. Even tubes, unless you really pack them in, allow for shake and abrasion between the individual coins.
80s Finnish commemmorative coins come with this blue plastic flip with three pockets: one for the coin, one for the Finnish info sheet and another for the Swedish info sheet (official coin, so has to be bilingual). The problem with the coin pocket is that the opening, though facing the hinge, is quite spacious. Most coins I see in those have started to tarnish. I don't know how much the flips in the end will protect the coins, but it has to be better than the original package.
By the time you get the 90%, the silver loss has already occurred, due to it being in circulation. You don't have to do all that to mitigate further silver loss. You can stack in tubes and be done. Not like it's going to be jingling around pockets for 20 years or so, like the older circulated coins.
@@Threedog1963plus, even if there is a lot of jostling and shaking in tubes, is it really a problem?
Most people are just going to fill the tube, then put it in the safe. It isn’t like you’re going to be carrying the tube around.
Hey thanks for your videos the only thing I can suggest is Maybe don't mention your guardhouse box? Naruto really care about your guardhouse boxes of where you put your silver it's the video
I love stacking constitution silver because it still maintains the face value
All you half to do is look at the reeded edges for the color you can tell righ away if its silver or clad
Taking constitutional silver to a refinery IS a bad thing! I’m not sure why anyone would, unless they just didn’t know a better way to go about selling it, nowadays. Premiums are pricing junk silver quite high around 22x around my area
A crook could care less. He/she would be glad to get a bit less knowing they could get away with it.
i have a question. do you break open rolls of coins from places like apmex to check? they guarantee many of their products. do buyers prefer unbroken rolls from accredited dealers or should you always break open and check?
Excellent video thanks!! I subscribed!
I save change made after 1964 to present. Then every once in a while I trade it in and buy 90%. Today's change is really the "junk silver" in my mind.
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*THIS SITE IS FAKE*
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Just want to point out the weight quantity control on those plastic tubes may not be as tight as you think.
Almost walked out of coin shop with a fake dime good thing I looked at the side and the owner replaced it with a real dime. Been buying a lot of 40 percent from him lately he sells that at spot but it's like 28 or more a ounce for 90 percent and yes it go from 28 a ounce to 30 next week back to 28 next week the stuff is running out so it is volatile... the future is coming one day 40 percent will run out.
It will cost more to buy a decent safe than the return from the silver you can store within it. Would it not be better just to stack empty safes as they appreciate in price along with inflation? Silver is nowhere close to keeping up with inflation.
With Barber dimes, the weight can be as much as 10% lower.
I use to stack junk silver but stopped and sold off the last of my coins a few years back with the exception of a few silver dollars . Now, I just buy ASE and the occasional small gold purchases.
What’s the reason?
@@inviz1769 mainly for personal preference but also for space. It takes more space to store 20 troy oz of junk silver then it does 20 troy oz of ASE.
@@gilavalos2400 thank you!
@@inviz1769 you're welcome 😊