For these reasons, junk silver is popular among survivalists. In the event of a crisis or catastrophe during which traditional currency collapses, it is speculated that silver coins could provide a viable alternative, temporarily or indefinitely, while fiat currency, which is not backed by precious metals or other commodities, has no inherent value and can be subject to extreme inflation, even hyperinflation, similar to Weimar Germany, post WWII Hungary and, more recently, Zimbabwe. Proponents of junk silver and other precious metals claim that, while fiat currencies have historically been subject to hyperinflation, precious metals will always have inherent value and can act as a medium of financial exchange when fiat currencies are obsolete.
James Wesley Rawles was pretty big on 'junk silver' years ago. Essentially any US silver coin made before 1965 was made with up to 90% silver in the coin.
The advantage to junk silver is primarily for transactions: If the economy tanks and fiat currency is worthless, you can trade incremental spot values of silver coins for goods much easier than you can bust off a piece of a silver ingot.
James Wesley Rawles was pretty big on 'junk silver' years ago. Essentially any US silver coin made before 1965 was made with up to 90% silver in the coin.
The advantage to junk silver is primarily for transactions: If the economy tanks and fiat currency is worthless, you can trade incremental spot values of silver coins for goods much easier than you can bust off a piece of a silver ingot.
In regards to liquidity, I completely understand that it is going to take a bit of time to liquify. I have other cash reserves on hand, and I am using silver as just another way hold my money. Additionally, I love the idea of having silver, even if it is not as economically safe as just out and out cash. Again, I'm not betting the whole house on silver.
When silver was trading around $45/Troy Ounce, everyone snapped up what silver coins were left in circulation. Today, they are more rare than hen's teeth. There are videos of people getting Banker's Rolls of $500 worth of quarters and finding only one or two Pre-64 coins. They have all been picked over and cleaned out.
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