90% Junk Silver - Market Value Over The Years - "Constitutional Silver"
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- เผยแพร่เมื่อ 20 ส.ค. 2024
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Ben The Coin Geek
Old Pueblo Coin
The keys to building wealth:
1. Spend less than you make.
2. Limited use of debt.
3. Buy assets that appreciate in value.
You do those three things and you will slowly but surely end up having a great financial life!
Wish it was easy to spend less than i make. 😂
If you can't live within your means now you will never be able to live within your means no matter how much you make.
I have a friend that buys a new pickup every 2 years. In 40 years of hard work, his net worth is $0.
I like to see coins that were once just "crap" finally rank among other bullion items on the market, while 40% halves remain in the category of "junk." And as you mentioned, one shouldn't become attached to their stack: throw it in the safe place(s) for years, and when your hair matches the color of the metal, then it's time to sell.
its funny hearing people say 50% silver dimes and quarters here in canada are junk while some people in the states call 80% junk
@@southerncanadiancoins757 When pre-64 coins are 90%, anything lower than that is "junk"... technically, 40% halves should not be called "silver," but billon, which is silver heavily alloyed (over 50%) w/ base metal(s)... if smelters are hesitant or unwilling to accept it, it's junk.
Thank you Ben. In my 55 years as a collector I've come to your conclusions. Naturally I think your advice is great. : )
Covid didn't cause the spike in premiums, the US Mint did when they jacked the cost of an eagle
You look extra GEEKISH today.
He’s Ben the Coin Geek, bruh. Epitome of geek 🤓
Geeky in a good way!
That’s the Top G dog
6:40 Another awesome video! Thanks, Ben! I definitely use precious metals/coins as a savings account. Way better than spending my pocket money on things that dont have any value down the road.
Agree. As long as you buy with realistic expectations and see it as just another way to save -- it is fine. If you are looking to grow your money buy stocks or something that will do that. Sadly a lot of shady types influence newbie stackers with conspiracy theory's and never ending lies about the dollar. I feel for the people that were paying big for junk just a few short months ago. Live and learn I guess. Cheers!
It is true that they are not an investment tool but rather a storage of wealth however in these bizarre times that we are in there is the potential for large upside in the near term
Very true as we see strange crazy prices for things you can't hold in your hand "crypto's"
I have to agree with you Ben. Stacking is more for saving versus investing.
My silver and gold stack that I started since 2013 has done real nice since 2020 especially. I was buying 90 percent for little as 10x at a spot price about half of what it is now. My biggest silver pops though include all the bullion Libertads purchased in the same period. No love for the stuff by stackers/collectors back then relative to now.
He is completely right. S&P 500 has out performed silver over any 10 year period. Remember this is a fun hobby.
For some, there are moral and ethical reasons not to invest in stocks. For example, they may be structured to damage the environment and rip off consumers and workers to create dividends for investors. In that regard, 90% silver is static and any harm caused by its mining and manufacture is far in the past. It is a savings plan that brings some form of delight.
Hey long time fan but I was curious to know if you can make a fail video of all the prediction you got wrong. From your theory on cac to buying the coin not the holder. It will be fun to see what changed in the market
“From your theory on CAC (wrong !) to buying the coin, not the holder (sometimes wrong again !).” 🤔 😉 😲😲😬
🤣😂🤣
Hi Ben. I learned the term "Coin Silver" from the ANA back in the last century. I like the term because it encompasses all government-backed coins, foreign and domestic, and includes all finenesses.
The first coin dealer that I went to on a regular basis (back in the late 90s) used to call it coin silver. Because he called it that I picked up the habit and that's what I've called it since
PMs are also great insurance against dollar reserve currency failure and national debt default. Both will happen in a 40yr olds lifetime, probably a 60yr olds.
It's refreshing to hear a coin dealer downplay the hype about precious metals as an investment. So, thank you for your unfiltered, practical POV. I'm sure Dave Ramsey makes some good points about personal finance; however, I've also heard him trash talk financial assets he clearly knows very little about, i.e.- cash value life insurance. So, I wouldn't take Ramsey's opinions as the final word on a well-rounded approach to personal finance. I recommend doing your own research, and trying to understand the financial products you ultimately decide to purchase. BTW - I know someone who became wealthy on precious metals - definitely an outlier - but it goes to show there's more than one path to financial security. Please keep up the great work; I really enjoy your commentary.
Junk is evolving and getting added numismatic value, and there is a growing divergence of premiums between blanket Junk and older stuff like Barbers, Mercs, SLQs, etc. In the 1980s merc dimes were probably still found in change, but now silver is essentially completely removed from circulation and the premiums will likely never go back to 0. I would bet junk never goes back to spot price retail.
shhhhhhh lol don't give away the secret.....I'm with you.......2000-2006 were the sweet spot...... there was a coin show this weekend in northern NJ; was very quite due to the holiday; picked up proof statehood dimes, quarters and halves at 19x.......would do that all day long 7 days a week
19x is not cheap it’s full price. $4.75 for a silver state quarter is not cheap I sell them for $4
16x for proof 90%? wow; how much face do you have for sale
@@tylonnplatinumthe3rd659
@@tylonnplatinumthe3rd659 I don't think you are selling modern proof 90% for 16x face which is well below spot price. If you are I'm interested, would buy 1000xFV today.
Love the haircut Ben 🙂
I have some bars and rounds etc and I actually picked up my first 4 pre 64 silver quarters today. I paid 18 bucks for 4 of them and they were in what I thought was pretty fair condition for old circulated coins. I'm not sure what the going rate is for junk silver right now but I don't feel bad about paying face X 18 or 25.20 per ounce of constitutional silver
Those good folks across the desert at Scottsdale had a hand in the "stacker" term by making jointed silver bars that literally stack. A hit product and other people ripped the term off and defined it to just mean to hoard precious metals. I agree it's not an investment, or if it is, it's a bad one for several reasons. But it does have several redeeming qualities, one is that it's far less liquid than a spendaholic wants to live, and it's a good mechanism to force-save money some scenarios. To be fair it's also a lot easier to sell than fine art or classic cars. But the dollar apocalypse folks are living in a beautiful world with the greatest currency of all time at their beckon call and they seemingly don't care for it anyhow.
Love your comment about it being a savings account
Great video. Although, my grandmother always called it Constitutional Silver. I even have her collection from the 70s with her handwritten note calling it Constitutional Silver. 😊
Generally agree with you Ben, but since quantitative easing started at the turn of the millennium, gold has beaten the S&P 500, and that includes dividends (aka total return). Anyway, the best way to keep up with inflation and build wealth is to own a successful unlevered business. By the smile on your face, looks like you're checking all those boxes 👍🏽
That was a nIce video Ben. Happy Labor Day weekend. What you said is so true, that gold & silver are savings vehicles. That is exactly right.
Good video Ben. I really enjoy your collecting videos. I'm both a collector and a stacker. I learn quite a bit from you. The wholesalers have great input on staking. BTW, I think of stacking as insurance, not investment or savings. Our current government is more fragile than it ever has been. I stack enough for insurance. I really look forward to your collecting videos!!!
Ppl dont understand why I stack silver when I tell them the prices 😂 they just can't understand that it's for saving and hedging against inflation rather than gambling in the stock market for profits etc. They laugh and say, "you'll never make much like that!" And I always say, "I know, but my savings account will be worth more than yours after all this inflation in 10 years" lol it surprises me how few people there are that I talk to who understand what I'm doing. Haha I get to go shopping every pay check and buy cool coins and bars and hunt down old currency etc and after I make the purchase I still go home with all my "money" lol with silver you get to go shopping and still take all your money back home with you after. That's a win in my book! And when inflation rips through all that usd, my silver will be sitting there holding value like a champ ❤
My main focus when it comes to silver is 1964 JFK's and Franklins. Franklins are becoming numismatic but I still get them for $9 each at my LCS. I do buy dimes, quarters and 999 fine rounds with cool artwork that I think will bring huge premiums in the future, I have been doing this since 2010. Some of the Egyptian series 2 ounce rounds are now valued at $300 per round which is $150 per ounce silver...do you see what I mean? When the Osiris version came out almost 3 or 4 years ago I bought 100 of them at around $38 each...they are now worth $70-$110 ebay completed prices. I recently bought the "Dead men tell no tales" Pinehurst one ounce rounds and they are very cheap. When discontinued these should bring a decent premium. Legendary warrior series may do well also.
I want to Pay Under 19 Over face at the LCS , That seems fair . I paid over 21 during the last 3 Years , I probably won't get the Premium back . But I got the coins I wanted . It is a Hobby .
Thank you Ben!
As I write this I'm the winning bid in a HiBid auction for some 90% silver dimes at 17.5x (which includes the buyer's premium). Wish me luck!
+1 point for knowing the DR system.
Back when we had good honest money!
Where can I buy junk coins? I'm new and would be thrilled to find something worth the fun in learn.
I have been calling it a savings account for ever but you must hold it a long time now to recoup the premiums.I just figure my grandkids will have some cool historical coins that will be worth some good money!
New subscriber here. Great video.
I paid $18.70 Friday at a coin show. Also bought 5 ASE'S for $29 each. They were all 2023.
Hey! Don’t be talking about Cabelas like that! Lol!
Hi Ben, the real reason the premiums on 90% silver as well as American Eagles in particular went ballistic over the past few years was because there was an open bid being filled by Miles Franklin as well as many other wholesalers working for a Walmart Heiress who purchased about half a billion dollars in silver in total through multiple transactions over this short time period. Thought you should know and that you’d be interested to know that as soon as the order was filled the wholesale bag price for 90% went from $8.95 over spot to literally spot. American eagles went from $12 wholesale premiums to now under $2 over. My math shows me that if she decided to liquidate her position currently she would lose about 40% from the premium depreciation alone that she ultimately created during that purchasing frenzy.
Yep I remember that too. Imagine having the liquidity to just say buy at any price! Now will she be selling? I highly doubt it. This was a strategic move. Can you imagine her safes and storage? You can be sure if she’s a prepper she probably also owns 1000s of acres, dozens of estates/homes, ranches and farmland, and massive stockpiles of fuel, food, medicine etc. That silver purchase was not even 1 percent of her net worth.
I buy nothing but uncirculated proof and mint state 90% and 40% silver coins for the absolute best price I can find them for. That's it nothing less, nothing more. I have a lot of it and I will keep buying more.
Sound advise! Always look at collecting, be it numismatics or bullion as a savings acct only. But always, always keep it secured yourself.
I have two friends who during the first C19 hoopla decided to "invest" north of $200k in silver and gold futures as they called it. What they actually did was buy into one of these 401k/501k transfer deals. I've never before witnessed two people, whom I have always thought to be very intelligent as both amassed several businesses, be so uneducated about things. After a few months each received a tiny amount of bullion, silver only. The remainder being kept secured for them and available anytime at the asking. Of course the asking part costs them 15-20% of the already greatly over inflated bullion. If they had all the bullion now without the buyout cost, they still would not be able to recoup their investment .
Sorry to hear about your friends! Meanwhile, I noticed that the stock price of an oil super-major dropped by more than half as COVID restrictions reduced travel & oil prices collapsed. I spent all I could buying stock in that company. After 2 years, the restrictions lifted, and I sold my oil company stock for twice what I paid. Used the money on a down-payment for my current house. That was a true investment, taking advantage of a buying opportunity, and with a predictable outcome.
See that’s what the smart people did. Buy the item that crashed and was sure to recover like oil. Not to buy the item that just doubled in price. If I knew at the time how to buy into oil I would have
I think it was the most obvious no brainer investment opportunity of all time just about
@@tylonnplatinumthe3rd659 so the trick was buying stock in the company (Shell, NYSE:SHEL) and not the physical commodity. Shell also paid a dividend (though reduced during COVID times), so selecting automatic-reinvestment of the dividends meant owning their stock bought me more stock. The hardest part is having saved money (perhaps in precious metals, perhaps in some other form) to be able to take advantage of an opportunity.
Gday @Ben , good video 👍
I have a lot of 90% silver. I buy some every month. I think I'll be selling some soon to buy Christmas stuff.
Good info
I Have A Weakness For Brilliant Uncirculated Junk/Constitutional Silver...No One Talks Much About It
You probably hurt the feelings of a non red headed stepchild 😂
Great information keep it coming 👍🏻🇺🇸
I have coin 1966 how sell it
My silver was the first thing cops wanted
I have 401k that I've been saving in for 23 years now and after fee's market crashes I'm not that better off than if i would have just saved in precious metals. nobody can sue or repo them away like a 401k plan.
My secret was state quarter era silver proof sets. Cheapest deal around for a good while. Possibly sacrilege that I pulled them and put them in tubes but whatever.
Junk prices got nuts indeed. Even oddball Canadian or Ikes.
shhhhhhh lol don't give away the secret.....I'm with you.......2000-2006 were the sweet spot...... there was a coin show this weekend in northern NJ; was very quite due to the holiday; picked up proof statehood dimes, quarters and halves at 19x.......would do that all day long 7 days a week
I disagree. Try to find someone to buy them. I have a roll of of Kennedy silver proofs dcam (simply beautiful coins) they are worth the same as a slick Franklin.
Right; I'm buying as junk that's my point. If I can get it cheaper than a bag o junk why would I pay a premium if they're both 90%?
My point is they are worth zero added value therefore its not a "secret" anything.@@sandiahead
What do you think could be the read-headed stepchild of today? (Edit *in the context of coins)
Hi Toad. I did well collecting Libertads when they were RHSC back in the 90s. These days, I believe US Cameo Proof Type coins from the 50s and early 60s are a current RHSC. They are not on many radars, and they are still reasonably priced. I hope my earlier experience collecting the Libertad RHSC pays off again with the Cameo Proof Coins.
I started watching 15 minutes after this video was posted, but TH-cam kept crashing when I tried to type a comment. Totally obnoxious. It took several minutes to resolve the problem. Anyway, yes, speaking of annoying, *any* marketing terms that are adopted by the general public are irritating. It's like calling houses "homes". Eye roll.
Bring back the beard!
Best video yet!
May I offer some ideas for future content as I found this episode good but not your greatest. Also it isn't taking that much of a historical view. This would have been far better if you looked back to 1979 until today and check the general trend line as well as few run ups and the possible reasons for them.
Now here are some topics I would think would be worth covering:
Foreign gold and silver coins in the first half of the 20th century produced by US Mints for that country. This was common during WW2 and even happened in the 20's and 30's. One example is the Australian Florins during WW2 were minted at the San Fran mint. This could be an interesting collecting niche that for some issues would be fairly inexpensive.
NIFCs produced since 2002 that may develop a nice premium in the ensuing decades. Example - Kennedys after 2001, Sacajeweas and Native American Golden dollars after 2001, Presidential dollars I believe after 2014, American Innovation golden dollars starting in 2018.
Underrated series that seem somewhat neglected by collectors today such as Barber Proofs.
What puzzles me are those people who buy silver on a time schedule every week or month or so no matter what. It doesn’t matter if it cost $32 one week or $25 later on.
Why not just save your money when it spikes and buy on the dips. I’ve seen it a lot and it seems like a really poor strategy
I’m not interested in “stacking” again unless it takes a huge dip to near pre pandemic levels like $17oz and $1400 oz for gold. That may never happen in this economy but that’s what it will take
Fear mongering,I hear ya bro
Actually......if we're going to let ourselves be pedantic......"Constitutional" silver would be 89.2% fine, not 90% (check out silver content info for early US silver coins in the Red Book 😉 😉😊)
I've always hated the term "junk silver".
Because I like them no matter how ugly they are and I want to save them from the refineries lol.
*FIRST*
Rats 😅😊
@@morgansinner LOL, Morgan. Better luck next time. 😁