On survival blogs and forums, buying junk silver coins is gaining momentum due to uncertainty in the financial markets. The term “survival silver coins” is a term giving by people who believe that the bottom is going to fall out of our monetary system and that it’s a prudent move to have an emergency supply of food, water, clothing, and money to survive the possible closure of the US banking system. Having an emergency supply of silver in your possession is like having an emergency supply of food and water. So what is “survival silver”? Prior to 1965, US coins were minted with 90% pure silver and today these worn and circulated coins are referred to as junk silver. These coins contain 90% silver. They have withstood the test of time as real money and will continue to do so even if the US dollar becomes worthless because of the underlying value of silver.
Most people who buy silver bullion coins do so for three main reasons-as an investment vehicle, a hedge against inflation, or for survival purposes. The concern of most people is the safe return of their money as opposed to the rate of return. Governments that start out with good intentions become hungry monsters that eat up their citizens savings through taxation and inflation.
The Secrets To Finding Discount Silver
Independently Owned Coin Shops
Honestly, I would go to your local coin dealer first. Getting to know your local coin dealer will compliment your online buying by providing you with personal service and instant knowledge of current market conditions. The benefits of personal relationships with local vendors will be priceless during turbulent times. I make it a practice to buy both locally from several vendors and online for my precious metals. While I am not well known to any of them, they know me because I often bring in both of my boys to look for rare coins.
Though I prefer local coin dealers for buying silver bullion, I also buy silver coins from online dealers to spread out my silver buying from various sources. You can find incredible deals online for survival silver that is just pennies over the spot price.
Golden Eagle Coin Dot Com
Golden Eagle Coin is a locally owned company started by two coin enthusiasts that has grown into one of the most respected gold and silver companies in the United States. Golden Eagle coins caters both to numismatic buffs and silver investors. Golden Eagle coin has a small business feel and you will be treated as well from them as any local coin dealer.
I have purchased a $100 face value bags of half dollars and quarters and need to increase my supply of dimes for making change.
Reasons Why Owning Silver Bullion Makes Sense
People who purchase gold and silver coins for survival purposes are expecting the worst case scenarios that have happened throughout the centuries. I am not one given to conspiracy theories. It seems that everyday there are new stories about financially struggling nations. The United States Government via the Federal Reserve has tripled the money supply essentially making each dollar worth approximately 1/3 of it’s value. Since the US dollar has already outlive the average life expectancy of 27 years for a fiat currency, experts are starting to see signs of failure as the Federal reserve keeps the virtual printing pressing rolling. In 1971, President Richard Nixon took the United States off the gold standard to keep foreign nations from turning in their excess dollars and exchanging them for gold. By doing this, he started the run up on the amount of dollars in circulation competing for goods and services. The run up is more commonly known as inflation.
Paraguay and Argentina barred the doors to their banks in 2002 to prevent a run on their currencies. The few people that had the foresight to save part of their money in hard assets like gold and silver fared very well. Eventually, the banks opened their doors and the people could withdraw only limited amounts of cash from their accounts. During the bank closure, the currencies of both countries sank in value. At the same time, neighboring Brazil had financial difficulties of it’s own and defaulted on a large portion of it’s international debt.
Similar to a forest fire burning excess ground cover and dead trees, the free market when left to do it’s work cleans up the financial chaos. No matter how hard the government tries to tinker with their currency, the free market will eventually prevail by crumbling the fiat currencies as well as the governments. Unfortunately, dictatorships often take over the failing government.
I am not an expert on any of these political matters. I have read what has been repeated dozens of time throughout history by greedy politicians and corrupt bankers. When economies fail, people will still need to eat food and drink water to survive. Business will still be conducted. However, it will not be business as usual. Some people will prosper as this has happened during every major financial catastrophe in in history. Survivalist prefer tangible assets that have practical uses such an automobile, garden tools, fuel, land, or livestock. Having items that have practical use will be just as good as owning precious metals to conduct your day to day business