Comments for The Complete Guide to U.S. Junk Silver Coins http://www.junksilverbook.com Book Available on Amazon.com Sat, 14 Nov 2015 23:57:42 +0000 hourly 1 https://wordpress.org/?v=4.7.6 Comment on Silver Certificates: A Lesson in the Disappearing Value of Paper Currency by Jan Hvizdak http://www.junksilverbook.com/silver-certificates-a-lesson-in-the-disappearing-value-of-paper-currency/#comment-16 Sat, 14 Nov 2015 23:57:42 +0000 http://www.junksilverbook.com/?p=56#comment-16 Faith could be enough to have a working currency as history shows. However printing money out of thin air the way, and in amounts we see these days has to be destructive as time goes by.

It’s only a matter of time when all dollars get returned to the US, and the average Joe will suffer the most. Elites already have tons of gold. That can happen in a year, two, ten or a hundred – the only guarantee is it’s going to happen one day.

If I had to own US dollars, I’d choose gold and silver coins minted by the US mint. Current paper dollars are only good for buying real money.

Of course I’m hoping for the best and preparing for the worst.

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Comment on Silver Certificates: A Lesson in the Disappearing Value of Paper Currency by ixbrian@gmail.com http://www.junksilverbook.com/silver-certificates-a-lesson-in-the-disappearing-value-of-paper-currency/#comment-15 Sat, 14 Nov 2015 00:46:32 +0000 http://www.junksilverbook.com/?p=56#comment-15 OutLookingIn – I don’t think Kennedy was trying to set in motion a plan for more silver certificates. Instead, Public Law 88-36 repealed the Silver Purchase Act of 1934 and granted the Federal Reserve the authority to print $1 and $2 Federal Reserve Notes.

Here is a quote from The Southeast Missourian Newspaper, November 28, 1961, “The silver certificate, a familiar item of currency since 1878, will disappear from circulation if Congreess approves Presdent Kennedy’s new silver policy.”

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Comment on Silver Certificates: A Lesson in the Disappearing Value of Paper Currency by ixbrian@gmail.com http://www.junksilverbook.com/silver-certificates-a-lesson-in-the-disappearing-value-of-paper-currency/#comment-14 Sat, 14 Nov 2015 00:19:15 +0000 http://www.junksilverbook.com/?p=56#comment-14 Sue – thanks for the comments, but I disagree with you on the points you brought up.

Of course there is a big premium on a super-rare XF large size silver certificate. But for a average condition normal silver certificate the premium is no where near the value would be if they were still redeemable. Case in point, the $10 silver certificate in the picture at the top of this post, I purchased on eBay for $21.75 and it is in pretty good condition (you can get $1 silver certificates for less than 2x there face value very easily). If my $10 silver certificate I purchased for $21.75 was redeemable in silver still, it would be worth $111. So clearly the paper silver certificate has in NO way matched the metal. Not to mention that the big difference is that the silver certificate only has numismatic value above its face value, not intrinsic value, which is a big difference.

You stated that “the notion that the government had physical silver to back up the paper silver certificates is nonsense”. I 100% disagree and stand by my statement that each silver certificate was backed by physical silver at a rate of 0.7735 troy ounces per $1 face value of silver certificate. It wasn’t necessarily silver dollars backing the certificates, it was silver bullion. The Treasury literally had billions of ounces of silver on hand in the early 1960’s, a big portion of it backing silver certificates.

You are incorrect that the redeemable “$1 in silver” meant $1 at market price. $1 in silver meant 0.7735 troy ounces of silver, which was the monetary value of silver. If you don’t believe me, look up the New York Times, June 25, 1968, where it clearly states that people were redeeming $1 silver certificates for $1.70 worth of silver. Also, did you see the advertisements in my post that show entrepreneurs were buying silver certificates for $1.30; they did this so they could cash them in since the 0.7735 troy ounces of silver was worth much more than $1.

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Comment on Silver Certificates: A Lesson in the Disappearing Value of Paper Currency by Jimbosskow http://www.junksilverbook.com/silver-certificates-a-lesson-in-the-disappearing-value-of-paper-currency/#comment-13 Fri, 13 Nov 2015 23:35:18 +0000 http://www.junksilverbook.com/?p=56#comment-13 You still can find some pre 64 coint in circulation if you lucky… Some times you purchase a pack of gum for 35c and your change worth more than the bill what you handed to the teller… 😉

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Comment on Silver Certificates: A Lesson in the Disappearing Value of Paper Currency by OutLookingIn http://www.junksilverbook.com/silver-certificates-a-lesson-in-the-disappearing-value-of-paper-currency/#comment-11 Fri, 13 Nov 2015 18:01:32 +0000 http://www.junksilverbook.com/?p=56#comment-11 President John F. Kennedy had already set in motion a plan to reissue the US silver certificate dollar. Printed by the US Treasury and therefore by-passing the private for profit Federal Reserve Banking System.

The President was attempting to turn the US back to using “honest” money, in which the government would not owe any interest on the national debt. He was also contemplating withdrawing all troops from Vietnam and limiting US involvement and support.

We all know what happened. He was murdered.

Shortly after his murder, LBJ ordered the destruction of the millions in US dollar silver certificates, that had already been printed and were held at the US Treasury. We all know what happened from that point on as per Vietnam.

War and the use of fiat currency is good for business and corporate profits. And they will go to ANY length to protect their ill-gotten gains.

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Comment on Silver Certificates: A Lesson in the Disappearing Value of Paper Currency by Sue873gardener http://www.junksilverbook.com/silver-certificates-a-lesson-in-the-disappearing-value-of-paper-currency/#comment-10 Fri, 13 Nov 2015 16:20:30 +0000 http://www.junksilverbook.com/?p=56#comment-10 Silver and gold certificates are worth considerably more than face value as collectors items. A common large size (pre-1928) $1 goes off at $40-300 depending on condition. You can’t get any silver certificate in investor condition (XF-CU) grades for less than $14. You can sell your paper silver certificate and use the proceeds to buy a silver Eagle with some left over. So, the paper dollar has matched or exceeded the metal just on a different basis. As money, both are worth $1.

Another comment. The notion that the government had physical silver to back up the paper silver certificates is nonsense. That ended in 1904. After, only a fraction had silver backing and that fraction diminished with time. No “runs on the bank” so to speak carried the rest of the roaring 20’s money explosion. Prior to 1928 the paper note was technically redeemable for “one silver dollar” which meant legally defined coin having 0.774 oz of silver metal. By 1928, the number of paper silver certificates was 40 times the value of silver coins backing them. Starting with the issue of 1928, the wording changed to “$1 in silver” … at market price! You can buy “$1 in silver” with the current fiat FED Reserve note.

The only common denominator is government lies about everything no matter what the era.

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Comment on Silver Certificates: A Lesson in the Disappearing Value of Paper Currency by Fred762 http://www.junksilverbook.com/silver-certificates-a-lesson-in-the-disappearing-value-of-paper-currency/#comment-9 Fri, 13 Nov 2015 07:04:36 +0000 http://www.junksilverbook.com/?p=56#comment-9 Another way to look at it is the ‘minimum wage’.. In case U 4got, it was $1.25 in 1964..work an hour and receive FIVE silver quarters. (gas was a quarter and a stamp was 4 cents.) IF you want to buy 5 silver quarters today…,go to a coin shop and ask the “price” & the nice man will say “give me 17 Federal Reserve Notes and I’ll give you 5 quarters from 1964”. IF you happen to HAVE 5 1964 quarters, you can trade them in at a coin shop and get about 16 FRNs and 2 clad/base metal “quarters”(the coin man will make a small profit).

But what does this mean? It means that the “dollar” has lost value and is only worth ~1/17th of what it was[in buying power] in 1964 & also thru inflation, the banks and the gvt have s@rew&d the US taxpayers out of 50% of their wages, bks the MW is only $7.50 today.. If it was not so sad, I would LOL bks the gvt skules have quit teaching real economics.

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Comment on The Growing Price Markup on Junk Silver by Frank http://www.junksilverbook.com/the-growing-price-markup-on-junk-silver/#comment-5 Sun, 04 Oct 2015 18:44:41 +0000 http://www.junksilverbook.com/?p=37#comment-5 Yea and also Apmix charges sales tax on there coins. You don’t know about the tax till you get to the end of the checkout . There a rip off

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Comment on The Growing Price Markup on Junk Silver by Ty http://www.junksilverbook.com/the-growing-price-markup-on-junk-silver/#comment-4 Wed, 30 Sep 2015 23:44:40 +0000 http://www.junksilverbook.com/?p=37#comment-4 I’ve been buying junk silver for along time and sometimes you still find some rare Coins but not enough to cover the price of today. I think if you haven’t got it already. Becareful how much you pay.

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Comment on The Growing Price Markup on Junk Silver by Max cady http://www.junksilverbook.com/the-growing-price-markup-on-junk-silver/#comment-3 Wed, 30 Sep 2015 01:46:30 +0000 http://www.junksilverbook.com/?p=37#comment-3 I solved this problem by searching for sterling silver at goodwills and the like, for way the hell under spot. Just got to keep your eyes open.

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