# Old silver coins as an alternative currency



## BillS (May 30, 2011)

I've been reading about "junk silver" online lately. It refers to silver coins that have no collector's value that are priced based on their silver melt value. Coins with a one dollar face value have about .71 ounces of silver in them, regardless of the combination of silver coins. So with silver at $40 an ounce, 10 silver dimes are worth about $28. What if during a period of hyperinflation stores start accepting silver coins as money based on the value of the silver? 2 silver dimes today will buy you a gallon of gas. That would probably remain the case regardless of the value of the paper dollar. I've looked around online and some places that sell junk silver coins don't have them available in dimes. I'd love to know how many people are investing in them. Anybody have any thoughts on this?

You can read more about junk silver here:

Junk silver - Wikipedia, the free encyclopedia


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## UncleJoe (Jan 11, 2009)

Dimes and quarters. Not much value to collectors but they're still 90% silver. I don't buy them but I do have a jar that I add to whenever I come across them, which isn't very often these days. I figure when the dollar goes bye-bye, I should be able to add to the jar by having "stuff" that folks are going to need.


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## kyhoti (Nov 16, 2008)

If I had the extra income, I'd be putting some of it into more junk silver, as I already have a little. Unfortunately I don't have an FRN to spare, so I just keep plugging away at the other items on the prep list. Fortunately, my wife scores excellent deals when shopping, and has turned some of those into "trade goods"; barter or junk silver (and maybe .925 sterling, if I can figure out how to test it) will be accepted for those items when the time comes.


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## BillS (May 30, 2011)

I bought the silver using a credit card. I figure that the silver will appreciate at a rate higher than the credit card fees. I can always sell small amounts of the silver to make the credit card payments if necessary. In the meantime if there's a SHTF event I'm covered.


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## Barfife (Apr 23, 2011)

A good site for "junk silver coins" smelt values is

Current Melt Value Of Coins - How Much Is Your Coin Worth?

It updates hourly on silver, copper, etc values.

I think it prudent to have some silver for barter and purchase power if/when the dollar collaspes. MHO, YMMV.


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## Turtle (Dec 10, 2009)

I thought that nickels of a certain vintage were also made of silver?


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## CulexPipiens (Nov 17, 2010)

Barfife... I had been to coinflation awhile back and distilled their silver data into a handy cheat sheet for myself. I would recommended to anyone to check and verify my calucations but what I came up with is:

Many older US coins are either 90% or for a brief time, 40% silver. Based on the spot price of silver, these coins are worth substantially more than their face value.

Definitions:
Grams per Ounce = .0321407466
Grams per Pound = .00220462262
Balance of coin is made of Copper.
Silver value = value of coin based on current silver (spot) pricing.
Melt value = value of coin, both silver content and copper content if melted and separated based on spot pricing.

Calculating Silver value:
Grams * .0321407466 * Silver% * Silver Spot

Calculating Copper value
Grams * .0020462262 * Copper% * Copper Spot

Calculating Melt Value
Sum of Silver value and Copper value

Dime ($.10)
1916-1945 Mercury (90%)
1946-1964 Roosevelt (90%)
2.5 grams

Quarter ($.25)
1916-1930 Standing Liberty (90%)
1932-1964 Washington (90%)
6.25 grams

Half Dollar ($.50)
1916-1947 Walking Liberty (90%)
1948-1963 Franklin (90%)
1964 Kennedy (90%)
1965-1970 Kennedy (40%)
12.5 grams (90%) / 11.5 grams (40%)

Dollar ($1.00)
1878-1921 Morgan (90%)
1921-1935 Peace (90%)
1971-1976 Eisenhower (40%) - note, these coins were only sold as Proof and Uncirculated and are not commonly found in circulated coins.
26.73 grams (90%) / 24.59 grams (40%)

Using the silver formula above and trying to simplify it, I came up with the following:

•	Dimes= Spot * .07
•	Quarters = Spot * .18
•	Half Dollars (90% - Pre 65) = Spot * .36
•	Half Dollars (40% - 65 to 70) = Spot * .15
•	Dollars (90%) = Spot * .77
•	Dollars (40%) = Spot * .32

These won't be exact but should get you in the ballpark. To test it, today the 28th of July silver is currently at a hair over $40. For simplicty lets use $40 per ounce.

For a silver dime, 40 * .07 = $2.80 and a quarter would be 40 * .18 = $7.20. Just keeping the bulleted list of approximate multipliers in your wallet and knowing spot is all you need to get a reasonable value on junk silver coins.

Source:
Current Melt Value Of Coins - How Much Is Your Coin Worth?


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## IrritatedWithUS (Jan 9, 2011)

Turtle said:


> I thought that nickels of a certain vintage were also made of silver?


only certain kinds made in WWII


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## HoppeEL4 (Dec 29, 2010)

My son was into collecting silver for some time. Now most of it was simply silver value, and he bought it when it was between $18-$22 and ounce, he recently sold almost all of it in order to pay for his first truck. 

He still has a good amount of his junk silver, which he plans to hold onto and my husband and I plan to also buy as much silver value coins as possible. I think it is a good idea, especially considering todays new, that S&P has downgraded the United States credit rating, and many predict we are in a true slow downward spiral into a worldwide depression.

Having other things of other value to people for trade is going to be very smart. Some say alcohol will be important, but since I am not a drinker and find that rubbing alcohol will suffice for the medical purposes, I have a hard time justifying that purchase. Buying up plenty of animal grade antibiotics, salves and creams would be smart, as these can be used for humans. 

Seeds.....these could become important too. Some are talking trades of hunting equipment.


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## WinTheMindWinTheDay (Jul 27, 2011)

HoppeEL4 said:


> Some say alcohol will be important, but since I am not a drinker and find that rubbing alcohol will suffice for the medical purposes, I have a hard time justifying that purchase.


You might not be, but others are, and more will probably become drinkers if things do get really bad seeing as how most if not all humans are creatures of habit. You can even water down the liquor to double, triple, or perhaps quadruple your stock of whiskey or other hard alcohol. Cigarettes, books, toilet paper. Commodities that the unprepared masses will want to cling to their previous, "normal" existence before the SHTF.

I spent some of my money on silver before I deployed, and intend on getting some more when I return. I may also buy a bit of gold.


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## SuspectZero (Feb 3, 2011)

They made war nickels from 41-44 if i remember right. Our men needed the nickel for their flak vests on the bombers so there was a shortage. The mint was forced to use silver like in all other coins but only 35% pure rather than the typical 90%. If u look on them there is a giant s above the white house to show it is silver.


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