Is JUNK SILVER Worth It in 2024?

what's up YouTube Silver dragons here and in this video I'm talking about junk silver should you be buying junk silver in 2024 let's get into it SD bullion is giving away a monster box of 2024 Tree of Life silver coins sign up today at SD bullion docomo Stakes thank you so much for watching I do sincerely appreciate it if you want to learn more about investing in precious metals or if you just want to watch awesome videos about gold and silver make sure to subscribe to my YouTube channel okay so should you be buying junk silver in the year 2024 well first of all what is junk silver it is any US Mint dime quarter or half dooll that was minted before the year 1965 so in 1965 they stopped making these coins out of silver and they started making them out of copper with a nickel coating we call them clad coins so all of the coins before that they are considered junk silver coins some people call them 90% silver coins others will call them constitutional silver but for the most part when you say junk silver people know what you're talking about now it's not a derogatory term it just means that they're not pure pure silver 90% silver 10% copper it's all melted together in an alloy and the reason they did that was to make these coins stronger more resistant to wear if these were made out of pure silver then they would have wore down much faster and not been a very good coin so anyway that's kind of what junk silver is now should you be buying it in 2024 well it depends on your strategy as a stacker if your goal is just to accumulate as much silver as you possibly can and you're more concerned with price exposure to Silver then maybe junk silver is not for you because this stuff can actually be a little bit premium from time to time you may have to pay a little bit over spot for Junk silver as compared to other silver items for example silver rounds silver bars these are considered generic silver and you can typically get them a little bit cheaper than you can junk silver the other thing about junk silver is that they're not making it anymore so there is a limited amount of junk silver and when demand is high for it we actually see the premium go up from where it normally is right now I'm filming in March of 2024 and premiums are fairly normal you can expect to pay anywhere from 3 to5 over spot for your junk Silver And that's pretty typical however during covid we saw premiums explode on junk silver and you were paying anywhere from $10 to $15 over spot so because there's a limited amount of this available premiums can't explode when there's not very much being sold on the market place because for the bullion dealers out there the only way for them to get more of this is for people to sell it back to them you know it's not a mint producing any of it the US Mint made as many coins as they did and they're not making anymore you can expect the premiums to fluctuate from time to time so if your main goal is just price exposure I would stick with silver rounds and silver bars but if you're willing to pay a little bit extra I think junk silver is a great thing to be stacking in fact for anyone in the United States of America I recommend basically having three different typ typ of silver in your stack you want to have junk silver because you can barter with it if you ever need to you also want to have generic silver and you want to have silver coins those are kind of the three pillars of stacking so when it comes to junk silver this is one of the best things you could use for barter most people they know that silver has value they know that gold has value and if there ever was a crisis some type of shtf situation you would want want to have some of this on hand to barter with other individuals now my favorite type of junk silver to barter with is the Mercury Dime the Mercury Dime everyone can tell there's something special about these dimes when you look at them they don't look like ordinary dimes it's a different design because they have a different design they're pretty easy to tell that they are all silver in fact this coin was only ever made out of silver now the Roosevelt dimes you could use these I got a whole bag of them here let me pull a few out however these are a little bit harder to tell if they are silver or not because they look like our dimes that we use today they've got Roosevelt on them so the Roosevelt dimes you could use these for barter but I would prefer the Mercury dimes one advantage to the Roosevelt dimes is because they are newer there's going to be less wear the Mercury dimes are going to be a little bit more worn down so slightly less silver but I'm willing to pay that price so that everyone will know I have silver let me show you one way you can easily tell if your coins are silver or not now obviously you could just look at the date right I mean you pick up a quarter if the date is before 1965 then it is definitely silver this is 1938 that's obviously silver or you could look at the edge when you look at the edge of your junk silver coins you'll see it's just one color it's all Sil silver however on Modern coins here's some quarters you can see there's two colors sort of a reddish brown and then a silvery color that's the copper with the nickel plating so modern coins look like this silver coins look like this that's an easy way to tell the difference but when it comes to wear there's one other thing I wanted to point out the older silver coins they are going to wear down a little bit and one easy way for me to show you that is actually with these hat doll so each one of these tubes has the same amount of half dollars in it this one is the Kennedy's and the Kennedy half dooll was only made out of 90% silver one year and that was 1964 so this is full of 64 Kennedy halves this is full of the older Walking Liberty halves and check out the difference in the height I mean you can clearly see it but this one when I shake it it's totally full the is on there tight this one when I shake it they're loose in there because the coins have been used more they've been worn down more so that's just something to think about when you're buying junk silver some people like the newer stuff some people like the older stuff cuz it's more collectible Etc so you can kind of pick and choose what you like I like a mixture of both like to have some of the old some of the new and that way if I need to barter with them I can do so or if I want to just collect them or pass them down to my kid kids I can do that as well let's talk about storage junk silver coins are one of the easiest things to store you can simply get some plastic bins throw a desicant in there so that your coins don't tarnish they won't turn black this will keep the humidity out so that's a pretty easy way to store your coins you can also get these tubes these are really nice they cost a little bit more but you know exactly how many coins you have you don't need to sort them and count them you just just look at the tubes you know how many coins are in each tube that's an easy way these are called guard housee boxes I love storing my junk silver that way or you can just store them in the canvas bags that's an option A lot of people do that when you buy junk silver it will come in canvas bags a lot of the time the advantage is it's easy to store easy to move and if you seal your bag you'll know how much is in there sometimes people will write with the Sharpie how many dollars face value there is in the bag so that's an easy way to know how much you have obviously if you break the seal most people just use a zip tie then uh there'll be a different amount in there but that is one option as well junk silver is just one of those types of silver which will have multiple uses and by the way the reason I like the dimes better than the quarters and the half dollars is because they are smaller you can make smaller transactions with the silver dimes it takes 14 silver dimes to get to one troy oun of silver now I know they're 90% silver 10% copper some are more worn down than others but generally that is the accepted standard 14 silver dimes for 1 o of silver that being said you could combine them with other things to get to an ounce for example let's say you had four silver quarters and four silver dimes that's going to be 1 o as well did I do that right I think I need one more time there you go that is also 1 o of silver or we could take away two of these quarters we could put in a half doll that is an ounce of silver there as well so you can mix and match you just have to get to a $140 face value to get to an ounce but that is one easy way you can kind of figure out how much these are worth when you're trying to barter with them so the other thing about junk silver is that it is beautiful it is collectible and there are some r pieces you can find if you go through your junk silver which can be worth much more than the other silver coins now I went through every single one of these Mercury dimes it took me about 5 hours and I pulled out all the different dates and I put them in this book right here it was so much fun if you want to watch that video I'll put a link to it up in the corner here as well as a link Down Below in the description that video was one of my favorite videos I've made in a long time it was an incredible amount of work but I found some really rare exciting coins that I was able to put in this book so you're not going to want to miss that it's on my backup channel it's not on this channel so make sure you subscribe to that one for additional Silver and Coin related content all right so what are my final thoughts on junk silver well I have to say I've stacked a lot of it over the years and I don't regret buying a single ounce in fact I wish would have stacked more of it when the price was lower however the price right now is fairly reasonable when you do compare it to other silver items I know it's probably not the cheapest but it's pretty close and this stuff is just beautiful one of my favorite types of junk silver is the standing liberty quarter not because of the obverse but the reverse look at that eagle that is so gorgeous why can't we make beautiful coins like this anymore uh I just I love junk silver I love the fact that I'm able to barter with it if I ever need to I can pass it down to my kids I can show them the history with these old silver coins what real money used to be there's a lot of reasons to stack junk silver in 2024 and if you don't have any I would highly recommend getting some junk silver in your stack just in case anyway let me know what are your thoughts on junk silver feel free to put them down below in the comment section thank you so much for watching and I will see you all in my next one silver dragons out

Channel: Silver Dragons

Views: 37,988

Keywords: junk silver, what is junk silver, buy junk silver, why buy junk silver, junk silver coins, silver stacking, silver investing, junk silver unboxing, junk silver stack, junk silver face value, junk silver vs bullion, junk silver quarters, junk silver bag, junk silver investing, junk silver dimes, junk silver price, best junk silver, stacking, silver price, silver's price, price of silver, buy silver, silver news, silver stacker, silver stack, invest in silver, silver coin

Id: GQljD0RZorQ

Length: 12min 4sec (724 seconds)

Published: Mon Mar 25 2024