Silver

[Amish Country]

A lot has been posted on the soaring price of gold against the US dollar and other currencies. This thread is dedicated to the poor man's gold: silver.

This morning a friend of mine was shocked to hear that $15.00US is the current price in dollars for one dollar of US 90% silver, 1964 and prior years, junk silver coins. These are the worn coins that do not have much if any numismatic value (value to coin collectors). This is also if you can find a coin shop or individual who is willing to part with them. The price of junk silver US coins has been steadily climbing since the beginning of the year.

The price of spot silver has risen from roughly $11.00US at the beginning of the year to close to $18.00US today. I wish my mutual funds were doing as well.


Today's price for spot silver:
http://www.kitco.com/charts/livesilver.html

Historic charts:
http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

 

[Niko]

Re: Silver

Thank you Amish for starting this thread. I'm an advocate for holding gold and silver for many reasons, particularly at this time. It may be the best hedge against inflation. Although, having a good stockpile of foods and necessities should come first.

 

[Amish Country]

Re: Silver

US dimes, quaters, half dollars and dollar coins for the years 1964 and prior were 90% silver.

The US nickel coins (five cent piece) minted during the years 1943, 1944, 1945 and part of 1942 were also made partial out of silver. They do not have as high a silver content as the US silver dimes or quarters. These nickels actually contain no nickel at all. They are 35% silver, 9% manganese and 56% copper. They are easy to pick out because of the mintmarks above Monticello?s dome on the coins (P, D or S).

For the years 1858 - 1968 Canada also had silver coins but they may only have a 80% silver content. I am trying to get this verified from a second source.