0 votes

Some Serious Silver Knowledge Needed on Reddit Thread

http://www.reddit.com/r/pics/comments/1dydjf/i_think_a_local...

This is on the front page of reddit so a lot of people are going to see this. The sad thing is one of the higher rated comments talking about how Junk silver (90%) isn't worth as much as spot since you have to refine the quarter. The quarter is already a perfectly measured trusted source, why refine it?




Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Known alloy and weight

Because "junk" silver has both known weight and alloy, and that the retail market has factored in loss from circulation (worn coins weight a bit less than new ones), we then have a product that needs no refining or modification for those that want to purchase it.

If the purpose is to accumulate an alternative form of wealth, it works as well as .999 rounds or bars, as long as both buyer and seller know what it is. It also fills the safe much faster than gold of equal value.

If the purpose is to create other products, then we may need to talk about refining, but probably not right now.

People are going to get suckered

For all the big "crash" in silver, you cannot buy it at any shop within 150 miles of me.
Calling it "junk" is going to get people ripped off... "Gee, this silver is junk? OK, I guess I'll take less."
Well, you will take 10% less since it is 90% silver. Anything beyond that is getting ripped off.
KNOW THE VALUE BEFORE YOU SHOP:
http://coinmelt.com/

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...