More about Junk Silver
Why is junk silver the next pick for investors?
The rise and fall of the world indices and the recent debt crisis looming the European countries have created an uncertainty that hampers the investors' faith in the stock market as well as in the bond markets. Investors are on a brink as to where they could put their money to invest.
If you intend to invest in a niche market, you can take a look at the junk silver. Junk silver is any silver coin that is in fair condition. They are described as "junk" because they have no collectable value and they do not necessarily mean scrap silver.
Junk silver are popular among the people seeking to invest in silver because of its silver content. The silver contents may vary from 35 per cent to 90 per cent or more. In 1965, a new Coinage Act in the US was enacted to cease the minting of coins and quarter dollars with 90 per cent silver content. The older US silver coins before 1965 are now in demand because of its scarcity. Most commonly collected junk silver US coins were minted before 1965 such as Morgan and Peace dollars, Barber, Walking Liberty, Franklin and Kennedy half dollars.
One of the best advantages of investing in junk silver is that it will always reflect the price of silver. So if the value of silver is worth $1, the same value will be for silver dimes or silver half dollars with same weight and silver content. Junk silver coins are commonly sold collectively in cloth pouches or rather known as silver bags. The junk silver bags contain an assortment of silver dimes, quarters and half-dollars. Most US junk silver bags have a face value of $1000. Others are sold in $500 or $250.
In times of financial crisis where potential currency collapse can be seen, silver or any precious metals will be a viable medium of exchange when paper currency becomes worthless. Junk silver coins will become an excellent means of bartering since it comes in conveniently small amounts comparing to bartering with ounces or bullions of gold. Bartering for a loaf of bread with ounces of silver is certainly more expensive than bartering with silver coins which are of a smaller value.
Moreover, junk silver coins are the most cost -effective way to invest since they don't incur fees for refining or minting. In short, it offers little or no premium. In fact, they are the cheapest silver you can get in the market. They are also easily available and dealers are all around the world. You can look for junk silver auctions such as Ebay to trade junk silver. But do ensure the current spot price before trading.
To conclude, junk silver offers an affordable and valuable investment.