Monday, April 14, 2008

Prepare! More about pre-1964 silver coins

Ever since I published this last post on pre-1964 silver U.S. coins, I have been taking quite a bit of heat. Not only from "preppers" but also from coin and precious metals dealers, coin collectors, and silver bugs.

Pre-1964 U.S. silver coins, they say, offer a good and affordable way for small and first time precious metal investors to get into the game. Pre-1964 silver coins, quarter, dimes, halves and dollars, are 90% silver. Since 1964, none have been produced with that much silver content. Thus, they are worth much more than similar, but later dated coins. And with silver now over 17.00 an ounce, pre-1964 silver U.S. coins are a surprisingly good investment.

Typically, pre-1964 silver U.S. coins are sold as "junk silver" which is a bit of a contradiction in terms because I tend to believe the dollar is junk and precious metals hardly fit that term.

Look, I have nothing against, pre-1964 silver U.S. coins. I like finding an occasional 1954 quarter or dime in my change. It's sad knowing that some unsuspecting ignorant individual dropped a single dime worth a dollar and a half into a soda machine, and that it became my "mini lottery".

But investments in portable wealth, whether it be art, precious stones or even pre-1964 silver coins, is a liquid investment. Which means one has to be prepared to sell their investment for higher gain at some future date.

For me, preparing for the future means investing in hard material possessions which offer a high, long-term rate of return. Investments like land, livestock and cash crops.

I cannot eat a pre-1964 silver coin, nor can my family. I cannot fend off a burglar with a pre-1964 U.S. silver quarter nor can I use it cure my sick child of a fever.

So, continue to invest in pre-1964 silver U.S. coins if it works for you and your future needs. But please, stop sending me email beating me up about my post or my opinion.

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