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Thread: Silver Bullion or Junk Silver for Long-term Bartering?

  1. #1
    GuncoHolic Black Blade's Avatar
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    Default Silver Bullion or Junk Silver for Long-term Bartering?

    Silver Bullion or Junk Silver for Long-term Bartering?



    Snippit:

    Silver Rounds:

    Advantages


    One ounce silver rounds give you more silver for your dollar. One oz .999 fine generic silver rounds are generally selling for 99 cents or lower an ounce, and many large distributors have tiered pricing levels to save you even more. Junk silver can sell for twice the premium of a bulk buy of 1 oz rounds. Even 1/2 oz or 1/4 oz rounds can be a better buy per-ounce than junk. Silver rounds also have their weight and purity stamped directly on each one. This may make bartering simpler with non-preppers.

    Disadvantages

    Some people, especially fellow preppers, may be wary of silver rounds, not trusting privately-minted silver as much as government-minted 90% junk silver. This is a reason some preppers pay the extra premium and buy 1oz American Silver Eagles. Some rounds have silly, or pop culture designs, which may reduce the willingness of someone to take them in barter.

    Junk Silver:

    Advantages


    Junk silver is readily recognized by fellow preppers, and those who are old enough to remember pre-1965 silver coinage. If you have the time and inclination to go through your stack, you may even find some coins worth more than melt value. The fact that it is old U.S. currency reassures many people worried about fake rounds or bars.

    Disadvantages

    Non-preppers may not accept junk silver, except at face value (that could change, depending on how long the economic disruptions last.) The “$1 in face value = .715 oz of silver” will seem strange to someone who has never heard of it, and might lead them to be suspicious of your offer.

    Even at a discounted actual silver weight (ASW) of .715 troy ounces per $1 face value, some junk silver coins are so worn that you may not be getting full value (especially with Barber dimes and quarters.) If things get so bad that there’s a break-down in Federal authority, and the barter economy lasts for a long time, people will start acquiring scales, and weighing coins before accepting them, like the old days.

    Junk and Rounds BOTH Come Under 1099B Rules!

    Contrary to popular opinion, sales of junk silver is not exempt under 1099B reporting rules. Only modern U.S. legal tender bullion (Silver Eagle, Gold Eagle, Gold Buffalo) is not reportable.

    The minimum reportable amount of junk silver under IRS rules is $1000 face value. That’s only 715 oz. of silver. Silver bars and rounds are reportable at 1000 oz. or more. That’s almost 40% more silver that can be sold to a dealer or exchange without being reported. Of course, this only applies to sales under “normal” circumstances. If things go south, you’ll be bartering with your silver instead of selling it to a company for fiat currency.

    Continued: http://www.thedailysheeple.com/silve...rtering_012014


    Black Blade: I hold both Junk Silver and Silver American Eagles as well as Generic Silver rounds and bars. Gold and Silver I bought in the late 1990s financed my two cabins and my rural real estate holdings (my private pronghorn-white tail-muley hunting reserve). Who knows, might help expand my land holdings if not needed for "barter" when the SHTF.

    Survive and Thrive: http://peakoilpetroleumandpreciousme...e#.Usrvf7Qr7do
    When you're born you get a ticket to the freak show. When you're born in America , you get a front row seat. - George Carlin


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    NoWorkCamp4Me railbuggy's Avatar
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    I have a mix of old silver dollars, silver rounds, and those new silver eagles. Started buying one or two a month last spring. I only have about pound and a half of silver.

    I just hit 4000 post. wooppppie
    SOON-We already lost the war. You are the resistance.

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    Gunco Veteran hunter_02's Avatar
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    Hey Mr. Blade. In the first paragraph, could you tell me where I can find ANY silver for "99cents or lower an ounce"?
    Thanks Hunter

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    Gunco Addicted for life j427x's Avatar
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    how about my russian "silver bears"?

    seems like i got some golden tigers and some golden bear laying around somewhere--LOL!

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    Gunco Member Mick's Avatar
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    I personally would not take any junk silver. I don't recognize any junk as having value.

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    GuncoHolic Black Blade's Avatar
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    Quote Originally Posted by hunter_02 View Post
    Hey Mr. Blade. In the first paragraph, could you tell me where I can find ANY silver for "99cents or lower an ounce"?
    Thanks Hunter
    I assume that's the premium above "spot" price.
    When you're born you get a ticket to the freak show. When you're born in America , you get a front row seat. - George Carlin


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    Gunco Member Leadchunker's Avatar
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    This is a good time to buy right now. Just like guns and ammo it will always be worth something.

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    Gunco Veteran hunter_02's Avatar
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    Thanks Mr. Blade. That makes more sense.
    Hunter

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    No Hope For Me Coils's Avatar
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    I was going to ask the same thing Hunter did, and thanks for explaining that BB, I was thinking it was a really old article that was just reprinted
    "Government is not the solution to our problem, government is the problem" Ronald Reagan

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    NoWorkCamp4Me railbuggy's Avatar
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    Quote Originally Posted by Mick View Post
    I personally would not take any junk silver. I don't recognize any junk as having value.
    A silver quarter would buy a gallon of gas in 1963. Its value is still worth a gallon of gas. jmho
    SOON-We already lost the war. You are the resistance.

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