The Y2K scare caused another huge melting of circulated 90% silver coins. For most of the 1980s, investors were net sellers of silver, which resulted in huge quantities of junk silver coins being refined and converted into. This caused investors to avoid silver in the ’80s, except for a strong market in 1987. (Today, reclaimed silver remains a major source of this essential metal.)īecause of these efforts, silver went into “surplus” in the 1980s, i.e., newly refined silver exceeded industrial demand. Further, the rising prices of the 1970s had spurred efforts to mine more silver and to increase the recovery of silver in the secondary market. In the 1980s, following silver’s spike to 50/oz, industrial silver users implemented efficiency moves that slowed industrial demand for silver. During the Y2K scare (discussed below), junk silver coins carried a 50% premium over bullion products. Over the last four decades, when precious metals enjoyed bull markets, junk US silver coins often achieved premiums of 20% to 30% over spot. 999 fine bullion items, a little background on junk silver coin prices and silver prices is in order. To support the assertion that bags of US silver coins hold greater upside potential than. 999 fine bullion items (1,000-, 100-, and 10-oz bars and 1-oz rounds) can be produced at any time consequently, there are limits as to how high premiums on. 999 fine silver bullion products because at times, and especially during rising precious metals markets, circulated 90% US junk silver coins pick up huge premiums as the supply of junk silver coins is limited.
(Actually, today 98% of the US money supply, dollars in circulation and available to be spent, are not “printed” dollars but are digital or electronic dollars.) Junk Silver Coins or Bullion Bars?Īlthough pre-’65 silver coins would be ideal for survival purposes, when junk silver coins sell at premiums near the premiums on 100-oz silver bars and 1-oz silver rounds, junk silver coins hold greater upside price potential than.
Yet, we are aware that the history of paper currencies is that they are printed until they become worthless.
If this “worst-case scenario” were to become reality, US silver coins would be used for the purpose they were originally minted: as money.ĬMIGS hopes that Americans never see the day that their once proud dollar becomes worthless. Although many investors buy junk silver coins as bullion investments, other investors buy junk US silver coin s for “ survival purposes.” These buyers fear the worst for the dollar, that it will be printed until it becomes worthless.
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