Need Advice on Buying Silver for Hard Times?

If buying silver for hard times seems scary or overwhelming, check out a mini-primer John Silveira wrote for the September/October 2011 issue of “Backwoods Home Magazine.” An excerpt is below.

Stashing junk silver for bad times

By John Silveira

When I was a teenager, a gallon of gasoline was about 25 cents and so was a loaf of bread. Now, each costs around $4. However, there are gas stations today (one is in Medford, Oregon) that will sell you a gallon or more of gas for a mere 25 cents — but only if that quarter is a pre-1965 “junk silver” quarter. They call those pre-1965 silver dimes, quarters, and halves “junk silver” because, having been circulated, they are worn and have no real numismatic (coin collecting) value. But they are far from “junk” as each coin is 90% silver, and silver is becoming more and more valuable.

If money becomes worthless, and it’s becoming worth less and less every day, possessing junk silver currency in a collapsed economy may bump you to the head of the line for medical services, food, or for a host of other goods and services for your family. There may come a day when $100 face value in junk silver coins are worth 400 or more gallons of gas. In a car that gets 25 m.p.g., that can be at least 10,000 miles of travel. On the other hand, it can be more than 400 loaves of bread for your family to eat or maybe 500 to 600 cans of soups and veggies.

Read the whole article here:

Excerpt used with permission of Backwoods Home Magazine. 1-800-835-2418.


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