Like to make free money?

[CichlidPharmer]

Finding silver for cents on the dollar really does only go up in value.

Really? Heard about inflation? Silver at today's $23 per ounce is still worth less than it was 30 years ago.

In case you don't know, the cost of college education in the USA is rising many times over the rate of inflation.

Good luck with funding your child's education with "free" money from the silver content of coins. Here's hoping you have enough storage for all the metal you will need

 

[Lepisosteus platyrhincus]

sorry to rain on your parade but this is illegal and plenty of people have been busted on MFK the feds are watching

no its not. There wass a guy in i believe '81. That was the year before the changed the pennies from 80% copper and 20% zinc to 80% zinc and 20% zinc(my percents might be off). Everyday he bought 10 grand(or some number like that, i forget the exact number) of brand new pennies and took them to the scrap yard. the pennies were worth around 1.5 cents in scrap metal. He did this for a year. Gov was pissed but it wasnt illegal so they couldnt do a thing

 

[Lepisosteus platyrhincus]

sorry to bust your bubble but it is illegal.

"1. Is it illegal to damage or deface coins?

Section 331 of Title 18 of the United States code provides criminal penalties for anyone who fraudulently alters, defaces, mutilates impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the Mints of the United States. This statute means that you may be violating the law if you change the appearance of the coin and fraudulently represent it to be other than the altered coin that it is. As a matter of policy, the Mint does not promote coloring, plating or altering U.S. coinage: however, there are no sanctions against such activity absent fraudulent intent."

it's not illegal to collect how ever if you melt it to get the silver you are breaking the law. Unless you save it and wait for the value to go up, but since you can't melt it, still useless well....25 cents lol.

no. that law states that if u modify a coin or dollar bill in an attempt to make it worth more(still in the form of legal tender) its illegal.

It is NOT illegal to destroy US tender. It is illegal to say bleach off all the print on a 1 dollar bill and make it a 100 dollar bill. That is what that law is covering

 

[SemperFish]

Seems awfully tedious. Im not well versed in this kind of stuff but Im thinking that if I bought an ounce and waited a bit for value to rise and sold it I would make some moeny to reinvest with. meanwhile, how long before you had an ounce worth in coinage? Assuming we both reinvested what profit we made wouldnt I accummulate wealth faster than you? and without spending hours sorting coins?

 

[JD7.62]

Really? Heard about inflation? Silver at today's $23 per ounce is still worth less than it was 30 years ago.

In case you don't know, the cost of college education in the USA is rising many times over the rate of inflation.

Good luck with funding your child's education with "free" money from the silver content of coins. Here's hoping you have enough storage for all the metal you will need

Again, reading comprehension is lacking on this site.

1: Say I find a 90% silver half dollar that I paid only face value, that coin has nearly $8 in silver, so yes you not really going to lose what you have in it, only 50 cents.

2: Precious metals are ineed historically a hedge against inflation. That fact that you said that college tuition is rising faster then inflation has NOTHING to do with saving money. $100 today will not have the same buying power that $100 dollars 20 years from now will have, rather you are paying for college or a Howie Mandell autographed t-shirt.

 

[JD7.62]

Seems awfully tedious. Im not well versed in this kind of stuff but Im thinking that if I bought an ounce and waited a bit for value to rise and sold it I would make some moeny to reinvest with. meanwhile, how long before you had an ounce worth in coinage? Assuming we both reinvested what profit we made wouldnt I accummulate wealth faster than you? and without spending hours sorting coins?

Its a hobby, not real investment plan.

However Im not paying spot price for the silver, I am paying face value of the coin. A Frankling half dollar has nearly $8 in silver. If I paid just 50 cents for it Im already ahead verses some one that buys silver at spot or above as you will have to wait for it to go up...or down...in value. Where as some one that buys silver bars may lose money as silver drops, some one that finds a coin at face value can NOT lose money as it will never be worth less then face value.

Again this is a hobby, something fun. Some of yall are taking it too serious.

Again, Im preparing for the collapse as society as we know it, so precious metals and lead are always good to stockpile. haha jk...sort of

 

[CichlidPharmer]

Again, reading comprehension is lacking on this site.

1: Say I find a 90% silver half dollar that I paid only face value, that coin has nearly $8 in silver, so yes you not really going to lose what you have in it, only 50 cents.

2: Precious metals are ineed historically a hedge against inflation. That fact that you said that college tuition is rising faster then inflation has NOTHING to do with saving money. $100 today will not have the same buying power that $100 dollars 20 years from now will have, rather you are paying for college or a Howie Mandell autographed t-shirt.

So let's put your theory that precious metals is historically a hedge against inflation to the test.

Here's what the big boys at seeking Alpha has to say about that:

http://seekingalpha.com/article/105777-gold-and-silver-are-not-proven-inflation-hedges

It's a hedge against crisis and not inflation if you can comprehend historical charts

Actually you would never want gold or silver to continously go up as it implies never ending crisis or disaster. The trick is to know when to cash them in before their bubble burst. Good luck. Let's just hope that when the time comes to spend those silver money on anything it's worth$ 20 per ounce or more. If not, then the silver lining of your savings plan is toast. All I'm saying is to not put all your eggs in one silver basket.

 

[JD7.62]

So let's put your theory that precious metals is historically a hedge against inflation to the test.

Here's what the big boys at seeking Alpha has to say about that:

http://seekingalpha.com/article/105777-gold-and-silver-are-not-proven-inflation-hedges

It's a hedge against crisis and not inflation if you can comprehend historical charts

Actually you would never want gold or silver to continously go up as it implies never ending crisis or disaster. The trick is to know when to cash them in before their bubble burst. Good luck. Let's just hope that when the time comes to spend those silver money on anything it's worth$ 20 per ounce or more. If not, then the silver lining of your savings plan is toast. All I'm saying is to not put all your eggs in one silver basket.

I can read an OPINION article when I see one. The charts are misleading as well. Is it true that precious metals have ALWAYS for THOUSANDS of years retained value where as different currencies have come and gone. Look at Paraguay just in the last few years...

But can you please point to where I am using only silver? Again I am NOT buying large amounts of silver at current prices. I am buying a small amount of shiny bars and rounds to teach a young child the value of investing. I am looking for silver coins at the price of FACE VALUE.

The point of the thread was to show younger people who, as from many of the responses in this thread, had no idea we at one time had silver in our coins. Silver coins are and will ALWAYS be worth more than their face value, how much more changes of course but again, they will ALWAYS be worth more than their non precious metal counter parts. Today, tomorrow, and two decades from now, a 90% silver quarter will be worth more than just the 25 cents that a non silver quarter will be worth. How is that hard to comprehend?

 

[jcardona1]

Im not paying spot price for the silver, I am paying face value of the coin.

I think a lot of people are having a hard time understanding this plain, simple, and in-your-face fact

 

[Dullamite]

Teach your kids to invest, you cant go wrong with that!