Quote:
Originally Posted by ILG
I suspect silver has never been confiscated like gold either, huh?
Why only buy 1964 and before?
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1964 was the last year that American coins were made with 90% silver.
If you take a 1964 quarter and spend it for something at the store then you have taken a coin that has an actual worth of probably $2-4 and you have traded it away for a mere 25 cents.
That is at current value. If the economy were take a drastic down turn the the value of the paper money you hold would fall drastically. That means that it would take far more worthless paper dollars to purchase one silver quarter or silver dollar because they hold an intrinsic value outside the value of the American dollar.
Assuming one could find a buyer for their silver (which is never a guarantee but American silver coins are among the easiest forms of silver to exchange) then they could trade that silver coin for far more paper dollars than they bought it for because the paper money has lost much of its worth since it is only backed by peoples trust in the dollar and has no intrinsic value of its own.
Another thing to consider is the Liberty Dollar. It is the 2nd most popular currency in America. If you have very many Liberty Dollar friendly stores in your area then you can use the Liberty dollar to trade at those stores. If the value of the dollar plummets (and the value of silver then soars) then you will be able to actually turn in your 10's for 20's because the value of the money you carry has maintained a value above that of the American fiat currency because it is back with silver & gold much like the US Dollar used to be backed.
You can read more at
http://www.libertydollar.org