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Old 05-16-2014, 02:37 PM
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Default Buying Silver

I've done my usual prudent research, and am formulating a plan to start buying some silver in small amounts with extra money earned on a regular basis. The amount will likely be $100 every other month.

I found a reputable dealer that I will buy from - this post is not about that. What I am trying to figure out is what size coins to buy. The norm seems to be 1oz American Silver Eagles. That would be fine except I think they might be too large being 1oz. I am thinking in a SHTF scenario where silver would be used in a barter situation. This dealer also has silver rounds in 1/10oz, 1/4oz, and 1/2oz coins. The price of course is a little more in the smaller increments, but I am thinking those would be better for bartering with smaller items.

These small purchases are not intended to be an investment but for use if/when our paper money becomes (more) worthless.

Opinions on buying in 1oz increments or smaller?
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Old 05-16-2014, 04:29 PM
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DavidOH Male DavidOH is offline
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Talking Just pieces.

I'd like to see them make those "combi bars" with Silver also.
Just break off a 1/10 ounce or 1/20 ounce piece to trade.

Oh Look! They DO make them! http://www.combibar.com/?id=3809
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Old 05-16-2014, 08:00 PM
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Well look at that! Looks like a great solution.

I found something very similar at the dealer, but they are imported and in 1 gram pieces. I can see a problem in a barter situation of someone not wanting to figure out the conversion. Plus, comparing the price per ounce to an American Eagle, the combi-bar is ~50% more in cost at this dealer.

Looking again at their prices, I see the 1/2oz coins are the same price as the 1 oz Silver Eagles. The 1/4oz is ~11% more and the 1/10oz is ~35% more. Looks like the 1/2oz coins would be a way to go for me.

Also this wouldn't be my only items I would have to barter. I have a lot of duplicates of good hand tools (not mechanic tools like wrenches) and slowly stocking up and other extra dry goods.
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Old 05-17-2014, 12:45 PM
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Another thing to look into is pre 65 us coins--ie. Junk silver. Usually can find some for not very much more than melt value. Last I bought was around 16.00 X face value. Diligent looking at flea markets, antique and junk shops and even garage sales can sometimes lead to good buys. also, if going this route (garagesales etc) look for underpriced sterling jewlery.

JVC
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Old 05-17-2014, 01:22 PM
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Thanks for mentioning the pre '64 silver coins. I really like that idea, but really nowhere to find any around here. Yard sales are far and few especially since we only venture out twice a month. And no flea markets at all around here and I've never even seen a pawn shop in my life.

I want to look more into this, but have not looked on ebay. I just have this feeling that the silver coins on ebay would be a rip off as I don't know what I should pay for them.
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Old 05-17-2014, 05:59 PM
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most of the bullion dealers offer junk silver in bags--anywhere from 10.00 to 1000.00 face value.

https://www.independentlivingbullion...or-quarters/35

appears that the dimes and quarters are going under 17.00x face right now.

JVC
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Old 06-28-2014, 09:59 AM
Harbinger Harbinger is offline
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I'll just throw this thought out there for consideration. If you are using silver in some sort of non-official form, like a bar that allows you to break off pieces according to weight, how does the person you are paying know that its real silver? They would either have to trust you (and maybe they will), or it will have to be tested to determine if it "real".

OTOH, US Silver Eagles are readily recognizable. Its doubtful you will have any difficulty exchanging them for whatever it is you are seeking to purchase.

Remember, too, that PMs are frangible. Even if a piece is cut off, that piece still retains its original worth by wt. Thats how those Spanish "pieces of eight" came into existence. Coins were actually cut into eight pieces and used piece by piece. We will see that again one day.
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