Quote
Originally posted by: MoneyLA
Silver strikes are not "junk" so please dont make holders of silver strikes think they are holding "junk." Just take a look at the bids on ebay. Besides the point of my original post is the value of the silver content, not what you will get when selling.
DonDiego intended no offense.
"Junk Silver" is the term applied to circulated pre-1965 US coins, . . . they're not really junk either, . . . for which a large, transparent market exists..
MoneyLA is correct about Silver Strike prices too. If one owns a Silver Strike from a defunct casino it usually carries a premium; Strikes in excellent condition do as well; but, in any case, they are worth spot-silver or pretty-close-to-it to those who deal in them.
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Originally posted by: MoneyLA
Silver strikes are not "junk" so please dont make holders of silver strikes think they are holding "junk." Just take a look at the bids on ebay. Besides the point of my original post is the value of the silver content, not what you will get when selling.
DonDiego intended no offense.
"Junk Silver" is the term applied to circulated pre-1965 US coins, . . . they're not really junk either, . . . for which a large, transparent market exists..
MoneyLA is correct about Silver Strike prices too. If one owns a Silver Strike from a defunct casino it usually carries a premium; Strikes in excellent condition do as well; but, in any case, they are worth spot-silver or pretty-close-to-it to those who deal in them.
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Quote
Originally posted by: billryan
I thought coin dealers used the term " junk" for coins that were only worth their melt value. I was introduced to the term at a coin show, and now always ask dealers at flea markets if they have any "junk" silver Mexican coins.
Exactly so.
Pre-1965 US dimes, quarters, and halves in circulated condition are only worth their melt-value. But if one buys some, they are still worth their melt value, . . . one needn't actually melt them. One can always sell them to someone else.
And here's a personal anecdote as to why some folks anticipating worse economic conditions that even poor old DonDiego are buying junk silver. In 1973 DonDiego was based at the Norfolk Naval Air Station in Virginia. That's the year that the first gasoline shortage hit the USA. It led to higher prices, and shortages, and gasoline lines, and even restrictions in sales - like selling to those with even-numbered license plates some days and odd numbered plates on other days.
Anyway, silver prices were rising back then too, . . . all the way up to around $6! DonDiego recalls that with gasoline prices hovering around an unheard-of 40-cents-per-gallon, the nearest Shell Station to him offered gasoline at 10-cents-per-gallon, if the customer paid with pre-1965 US coins. (A quick calculation reveals that with silver at $6, a junk-dime was worth 43-cents, . . . that dealer was doing just fine.)
So nowadays folks who really expect an economic collapse recognize that no matter how devalued their US-paper-dollars become, . . . even down to the levels of the paper German Mark in the 30s or the paper Zimbabwe Dollar more recently, . . . they'll always be able to buy things with junk silver.
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A thought just occurred to poor old DonDiego, . . . a rare event, indeed!
With silver at $49.19 this morning, a pre-1965 dime is worth $3.52. Not far off the price of a gallon of gas today. Coincidence? Maybe not.
Pre-1965 US dimes, quarters, and halves in circulated condition are only worth their melt-value. But if one buys some, they are still worth their melt value, . . . one needn't actually melt them. One can always sell them to someone else.
And here's a personal anecdote as to why some folks anticipating worse economic conditions that even poor old DonDiego are buying junk silver. In 1973 DonDiego was based at the Norfolk Naval Air Station in Virginia. That's the year that the first gasoline shortage hit the USA. It led to higher prices, and shortages, and gasoline lines, and even restrictions in sales - like selling to those with even-numbered license plates some days and odd numbered plates on other days.
Anyway, silver prices were rising back then too, . . . all the way up to around $6! DonDiego recalls that with gasoline prices hovering around an unheard-of 40-cents-per-gallon, the nearest Shell Station to him offered gasoline at 10-cents-per-gallon, if the customer paid with pre-1965 US coins. (A quick calculation reveals that with silver at $6, a junk-dime was worth 43-cents, . . . that dealer was doing just fine.)
So nowadays folks who really expect an economic collapse recognize that no matter how devalued their US-paper-dollars become, . . . even down to the levels of the paper German Mark in the 30s or the paper Zimbabwe Dollar more recently, . . . they'll always be able to buy things with junk silver.
: : : : : EDITED TO ADD : : : : :
A thought just occurred to poor old DonDiego, . . . a rare event, indeed!
With silver at $49.19 this morning, a pre-1965 dime is worth $3.52. Not far off the price of a gallon of gas today. Coincidence? Maybe not.
