How or What to buy in silver.

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  • #50479
    woodchipper518
    Participant

    I’m looking at buying silver (finally). But probably not gold right now So when greenbacks are worthless and silver is the new currency, what do we expect to be the best ‘denomination’ for silver? I see lots of choices in silver from coins, bars, slugs, etc. Some silver comes in sheets where you can break off squares representing a certain weight. I personally would be leery of someone with some of this stuff I see so I am leaning towards minted coins in small weights. It should realy look like silver since I lack the knowledge (and ability) to authenticate real silver from zinc or other faux-silver metal.

    Bars don’t look very practical because I don’t want to have to buy food/supplies in the future by shaving off slivers of silver (or gold when I get some). I no longer have a handy pocket (mail) scale since I gave up smoking herb :innocent: . I don’t really want to have to lug 25lbs of old quarters and dimes either.

    I looked at Provident metals since they are located near me but they are not setup for walk-in service. I would like to do my transaction in cash or MO and under the radar of you-know-who if possible.

    Any insights would be appreciated.

    #64037
    TRex2
    Participant

    There have been a number of questions about silver over the years, and the price is looking favorable today, so I am writing this today because silver is in that “now is the time to buy” price range. But should you buy silver? And what kind of silver? Bars, coins, junk? Well, a lot is up to the individual.

    I am recently on record as saying I wouldn’t buy gold, no way no how, but for some people out there, well, that is up to them.

    There are many reasons you may want to buy silver. Investment, post-SHTF barter, hedge against inflation, insurance against a government gone rogue, etc.

    But before you buy silver, I would suggest making sure many of your other preps are in order.

    Insure you are financially sound, and have your basic beans, bullets, and band-aids taken care of first.

    Then you have to look at why you are buying. If it is for investment, I don’t know, since I don’t invest in silver, but if it is for post-SHTF, you will need small denominations, since most people won’t be able to “make change.”

    My personal favorite is 90% silver quarters (typically called junk silver). A roll of 40 of them contains 7.15oz of silver, and is usually priced about the same as 8oz bullion. My rule of thumb is: I believe they will be worth about 10 times face, initially, in trading. So a couple silver quarters would be the same as $5 today.

    Trump buying us some time. The economy is growing, and a lot of the panic prepper crowd are liquidating their assets in favor of the stock market or other pursuits. Silver isn’t at an all time low, but these days, it doesn’t spend much time below $16 an ounce. This can’t last forever.

    #64038
    Illini Warrior
    Participant

    purchase at least part of your silver hoard in junk silver for SHTF trading/purchasing – it’ll be of value eventually if not initially – silver value will need to eazily determined in the field without all kinds of weighing & testing …. good chance you’ll see the bigger half dollars & dollar coins halved to increase coin silver availability ….

    #64042
    TRex2
    Participant

    I have been working on a simple field test that almost anyone can do, to see if silver coins are what they say they are. Not a high priority, but I hope to have it ready this year.

    It wouldn’t be used in every silver transaction. If two people knew each other, even casually, they would skip it, but if someone approaches that no one knows, a simple test that can be done in less than a minute would be appropriate, I think.

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