@brotherjohnf What percentage of silver do you recommend in 'junk' form? Some, like Mike Maloney recommend only .999 Silver Eagle form, and I've always been a bit torn on this issue. Curious what your thoughts are. Thanks in advance.
@tesskansas Some folks use 730 oz silver for junk silver, but that is usually for uncirculated coins (not worn) where most of the original silver is intact to consider.
So for good quality 1 dollars, like Morgans or Peace dollars, the 730 number is often used.
The math on that assumption follows:
(1 oz x1000 coins) divided by 730 = 1.37 coins to equal 1 oz. of real silver from 90% junk coins.
If coin is worn try: 1oz x 1000 coins divided by 715 = 1.40 coins to reach 1 oz....
@tesskansas I might be wrong on the 730 oz per $1000 face bag of 90% silver dollars, so verify that.
To be on safe side, use 715 per 1,000 face value or what is known as a full bag of junk silver at 1,000 face. Usually a 1,000 face comes in two canvas bags when ordering form online dealers. It is heavy. Halves come as 2000 coins, quarter @ 4000 coins, Dimes @10,000 coins.
INESTORS Is it worth selling a portion of silver before a likely smackdown and pay current capital gain tax rates (buying in again),rather than holding a long time only to have a superprofits tax of 80+% applied(Jim Rickards suggestion)? Low volumes may suggest possible smackdowns,I know its risky but it could save one from big taxation.If you sell and rebuy fast you may reduce risk. any ideas?
@BrotherJohnF Junk silver is always iffy for me. government coinage conveniently places a stamp of property ownership on it. There is nothing to prevent the government from forcing redemption of their property at face fiat value. They already make it illegal to redeem at silver value for retail transactions. A law could be easily put in place to force coin dealers to do the same. It is just something to think about if you plan on investing thousands of dollars into junk silver.
I heard some clown on Bloomberg this morning say hes sticking to his call for $1450 gold before we see $1750!!!!! hahahaha where do they find these guys?
There is counterfeit 90% US junk silver floating around. Part of the visual difference is that they have a faded look and any wear is completely even throughout even though the edges are relatively crisp. They pretty much look like they're in decent condition without enough luster to justify how sharp the edges are. Typically older coins like that have uneven wear.
Brother John, thanks so much for all you do. I just pray that you don't lose interest one day and just stop doing videos all together. A lot of us who don't have the technical skills that you do, really do depend on you for direction in these markets. If you had a donations link on your blog, I would love to donate to you periodically for the services you are providing. You should think about it, Turd Ferguson does it and I think what you do takes just as much effort as what he does.
Good video I look forward to the next one as a new subscriber. on your blog site put me in at the 200-500 range for stacked silver. I am looking to accumulate more as well.
A lot of Junk silver is being melted now, you are correct, and no one is keeping track of that. On the other hand, my LCS has 5-gallon buckets of them available. I am seriously considering them over 1 ounce rounds for my next silver purchase.
interesting thing about large bags of junk silver . I actually found a half dime from the 1850's in a bag of junk that I bought. That proved to me that the bags weren't searched before selling. you never know!!!
Seriously? Stop giving them ideas man!! The EPA would love nothing more than to carbon tax us to death. Let's hope they don't subscribe to BrotherJohn and see your idea heh.
I'm truly envious of the folks who have more than 1000 ounces. I've been lucky to keep employment at all but I've realized there's no way I can do more with my income. I sold pretty much everything I could to put it into physical and still pay the bills. I'm waiting for the time when girls stand with signs saying "will hook for junk silver".
I tell local cashiers to save the silver coins and I would buy them and nobody even saw any so far. They are getting rare already. I kick myself for taking the silver coins I saved to help buy beer when I was young and foolish.
@eyewarnedyou yeah I hate that JUNK SILVER term too. coin silver sounds better. I was in a coinshop and found out that you have to pay tax buying this so called Junk because it is less than .995 fine silver.
Consider listening to Real World of Money on Wednesdays 10-12am eastern. Andrew Gause (money historian, author, coin dealer) talks to Patrick Timpone on one radio network dot com.
Gause is a lot like you BJF... smart and helpful.
Yeah and that is just the people who did the poll. Remember nearly all my mates have between 500 and 2500 ounces stashed. the figures will be astounding!
12 to 1500 is a correct estimation!, now we need to see how many stackers there are.
These numbers are just for the Washington Quarter....3,776,134,600 (minted) x 0.18085 oz (silver weight) = 682,913,942 oz....value at $6.02 each... = $22,741,034,282 This is figured at minted weight of .7234 not junk worn of .715 (not much difference)... and current $33.30 spot price. So just this 1 coin is about equal to total yearly production, but it is also the highest combined amount of silver for any minted coin ever produced.
Z.I.R.P for the next 3 yearsl. I'm worried about the social consequences for our elderly population. They are going to be wiped out. Most elderly have slowly been drained of their money due to so many reasons; health care needs, unexpected household bills. WHEN IT'S GONE, IT'S GONE. My grandparents earned interest on their savings account & paid off 15 year mortgages in 10 years. I'm calling 3 more years of Z.I.R.P. criminal actions against the elderly & helpless.
@lynnybee888 They are doing it to any one who is working now or as long as you are not on some handout..If you have money and are retired or independatly ok with money or rich semi ,your money is being debauched,or displaced with more paper..The less money the overall population has,it makes it easier for "them" to have tighter controll over wide and large population that has less and less influential power...
@lynnybee888 Who the hell cares about them? They have been living like decadent pigs for decades, if they failed to prepare that is their fault. I feel sorry for the young who have no future and are born into massive debt burdens and are expected to pay for it through higher and higher taxation. No one feels sorry for the first people to get into a ponzi scheme.
Thanks for the update. Really enjoy your videos and your blog.
I found the poll numbers particularly interesting. As a block, we collectively hold a significant amount of the Ag available for investment.
Assuming the numbers are realistic - they also highlight the fact that once Silver gains mass appeal - the amount available will dry almost instantly. Amazing.
thank you john...please make a clip on calculation on inflation adjusted price?? am sure many people want to know how to calculate. thanks again for your excellent video
coinflation (dot) com has mintages on junk silver. Roughly 870million-900million silver nickles, for examples. Although it states the 1943/2 P mintages as "Unknown".
As for coins, I don't think I've heard you talk about Mexican Libertads very much. They only have two different designs, which you might look at as a negative - however, they have very low mintages for most years and silver seems to have a stronger connection with the people of Mexico than in the U.S.
Calculators are whirring at the moment, figuring out what Zero Percent Interest for three more years means for the price of commodities, PM's and the value of the dollar.
Your subscribers have at least $54 Million dollars (based on a current silver price of $33 - and the number of ounces in the poll so far) invested in physical silver metal. To put that in context, according to Romney's recently released tax forms he made a little over $42M over a two year span. As though he put all (reported earnings) of his money into silver he made from two years and then some.
rofl about your summaries, nice job. One interesting news item I came across on SilverSeek; mine production in the US dropped last year. One of my neighbors has one of those junk silver bars from back then. It's ten pounds, produced locally.
Great post! The 'junk', or constitutional silver, are fun coins to collect. Love the Morgan & Peace dollar, as well as Franklin & '64 Kennedy Halves. I have even been given 2 pre-65 quarters, as change, in the last few months. Pre-82 pennies are worth more than their face value as well.Happy coin hunting! Check out coinflation for more valuation parameters. Check out American Coin Hunter for some vicarious metal detecting fun.
I don't have junk silver for silver value,..Our family has just saved it up over a few generations,...NEVER going to sell it. My son might,..but that will be up to him. I suspect that if I have some,..there is a fair bit out there
I am 37 yrs old and have over 20k oz of physical Silver.. When there are more like me when u will know we are in a bubble.. I will sell North of 300 a oz...Your videos are great!!!!
@brotherjohnf What percentage of silver do you recommend in 'junk' form? Some, like Mike Maloney recommend only .999 Silver Eagle form, and I've always been a bit torn on this issue. Curious what your thoughts are. Thanks in advance.
AgStrat 2 days ago
@AgStrat I consider junk silver to be "disaster" or "deflation" silver just in case money fails. I think 10 to 20 percent is a good number
BrotherJohnF 2 days ago
quick question......how many 90% silver dimes (64 or before) does it take to make one oz???
vanityrose12 3 weeks ago
@vanityrose12 My math looks like this:
10,000 dimes = 715 oz silver approx.
1 oz (times) 10,000 dimes (divided by) 715 oz = 13.99 dimes.
There is nearly 1 oz of silver in 14 junk silver dimes.
Hope that helps.
tesskansas 3 weeks ago
@tesskansas Some folks use 730 oz silver for junk silver, but that is usually for uncirculated coins (not worn) where most of the original silver is intact to consider.
So for good quality 1 dollars, like Morgans or Peace dollars, the 730 number is often used.
The math on that assumption follows:
(1 oz x1000 coins) divided by 730 = 1.37 coins to equal 1 oz. of real silver from 90% junk coins.
If coin is worn try: 1oz x 1000 coins divided by 715 = 1.40 coins to reach 1 oz....
tesskansas 3 weeks ago
@tesskansas In case you are interested, Math on Junk silver Halves looks like this:
1 oz x 2000 coins (per$1,000 face value) divided by 715 oz = 2.80 coins (Barber halves, 1964 JFK halves, etc).
tesskansas 3 weeks ago
@tesskansas I might be wrong on the 730 oz per $1000 face bag of 90% silver dollars, so verify that.
To be on safe side, use 715 per 1,000 face value or what is known as a full bag of junk silver at 1,000 face. Usually a 1,000 face comes in two canvas bags when ordering form online dealers. It is heavy. Halves come as 2000 coins, quarter @ 4000 coins, Dimes @10,000 coins.
tesskansas 3 weeks ago
@tesskansas hi-five.....i knew it was something like that...
vanityrose12 3 weeks ago
INESTORS Is it worth selling a portion of silver before a likely smackdown and pay current capital gain tax rates (buying in again),rather than holding a long time only to have a superprofits tax of 80+% applied(Jim Rickards suggestion)? Low volumes may suggest possible smackdowns,I know its risky but it could save one from big taxation.If you sell and rebuy fast you may reduce risk. any ideas?
1973brianmoran 3 weeks ago
@BrotherJohnF Junk silver is always iffy for me. government coinage conveniently places a stamp of property ownership on it. There is nothing to prevent the government from forcing redemption of their property at face fiat value. They already make it illegal to redeem at silver value for retail transactions. A law could be easily put in place to force coin dealers to do the same. It is just something to think about if you plan on investing thousands of dollars into junk silver.
mrdm00 3 weeks ago
I heard some clown on Bloomberg this morning say hes sticking to his call for $1450 gold before we see $1750!!!!! hahahaha where do they find these guys?
wyoraider86 3 weeks ago
There is counterfeit 90% US junk silver floating around. Part of the visual difference is that they have a faded look and any wear is completely even throughout even though the edges are relatively crisp. They pretty much look like they're in decent condition without enough luster to justify how sharp the edges are. Typically older coins like that have uneven wear.
ErikHighwind 3 weeks ago
Brother John, thanks so much for all you do. I just pray that you don't lose interest one day and just stop doing videos all together. A lot of us who don't have the technical skills that you do, really do depend on you for direction in these markets. If you had a donations link on your blog, I would love to donate to you periodically for the services you are providing. You should think about it, Turd Ferguson does it and I think what you do takes just as much effort as what he does.
Adman1175 3 weeks ago
Good video I look forward to the next one as a new subscriber. on your blog site put me in at the 200-500 range for stacked silver. I am looking to accumulate more as well.
MrAkamkk 3 weeks ago
My browser just crashed from visiting your website; I think it had too much trouble processing all the images.
myusernameisluc 3 weeks ago
Was that soundbite from Charlie Brown? The teacher?
Silver2012DotCom 3 weeks ago
i think there are not enough divisions between 500 and 5000 Oz
wizdumb420 3 weeks ago
John. Did you consider all the world coins that have been minted through the years with silver?
KonaChuck22 3 weeks ago
A lot of Junk silver is being melted now, you are correct, and no one is keeping track of that. On the other hand, my LCS has 5-gallon buckets of them available. I am seriously considering them over 1 ounce rounds for my next silver purchase.
isaiah58bc 3 weeks ago
This has been flagged as spam show
I am moving to ZippCast. Fuck YouTube and their NSA psychopath buddies.
JanRichardus 3 weeks ago
interesting thing about large bags of junk silver . I actually found a half dime from the 1850's in a bag of junk that I bought. That proved to me that the bags weren't searched before selling. you never know!!!
thaboomer53 3 weeks ago
junk silver---I got plenty junk in my trunk...keep stackin
thaboomer53 3 weeks ago
Doesn't a triple bottom mean lower prices to come?
rydaug79 3 weeks ago
@eyewarnedyou
Seriously? Stop giving them ideas man!! The EPA would love nothing more than to carbon tax us to death. Let's hope they don't subscribe to BrotherJohn and see your idea heh.
brown55061 3 weeks ago
I'm truly envious of the folks who have more than 1000 ounces. I've been lucky to keep employment at all but I've realized there's no way I can do more with my income. I sold pretty much everything I could to put it into physical and still pay the bills. I'm waiting for the time when girls stand with signs saying "will hook for junk silver".
brown55061 3 weeks ago
What I am curious about is if REAL junk silver is in the sealed bags
BMWg84 3 weeks ago
A 10 oz year of the dragon 2012 added to my stash, beautiful.
JanRichardus 3 weeks ago
@JanRichardus
I haven't bit yet but I do really like those 5 and 10 oz dragons! Congrats to you.
brown55061 3 weeks ago
So what you're implying is that junk silver may have a premium due to scarcity in the future?
thrasher956 3 weeks ago
this recent little run in silver and gold is looking tasty !!!!!!!!!!!! :o)
onisuk 3 weeks ago
A place I buy vegetables always give out 1/2 dollars for change, I think the owner cleans out the banks, takes the pre64s a gives us the junk.
Pfsif 3 weeks ago
that bernanke speech made my day xD thank you!!
guitarplayernr1 3 weeks ago
Nice work John.
SilverStocksBullion 3 weeks ago
I tell local cashiers to save the silver coins and I would buy them and nobody even saw any so far. They are getting rare already. I kick myself for taking the silver coins I saved to help buy beer when I was young and foolish.
elucidative 3 weeks ago
@eyewarnedyou yeah I hate that JUNK SILVER term too. coin silver sounds better. I was in a coinshop and found out that you have to pay tax buying this so called Junk because it is less than .995 fine silver.
elucidative 3 weeks ago
boooo on the obama add. nice report though.
prahudka 3 weeks ago
7:10 Bernake's interest rate announcement may be subterfuge.
penguinistas 3 weeks ago
6:00 nice summary.
penguinistas 3 weeks ago
haha- I love the bla-bla speach!!!... well thats what he said!! blabla-whatever!! go spaghetti boy! bankster puppet master don coleone...;)
candon1972 3 weeks ago
In Mexico slang for money is "plata" this word means Silver ...
waydeepinside 3 weeks ago
LOL!!!!!!!! @5:30
MrBiggMan 4 weeks ago
The PPT should come to our rescue of silver stackers and crush the price before the close it is Options expiry is today.
davincij15 4 weeks ago
Consider listening to Real World of Money on Wednesdays 10-12am eastern. Andrew Gause (money historian, author, coin dealer) talks to Patrick Timpone on one radio network dot com.
Gause is a lot like you BJF... smart and helpful.
xlr8profits 4 weeks ago
Yeah and that is just the people who did the poll. Remember nearly all my mates have between 500 and 2500 ounces stashed. the figures will be astounding!
12 to 1500 is a correct estimation!, now we need to see how many stackers there are.
bullsnutsoz 4 weeks ago
Yeah i agree all my mates have between 500 and 2000 ounces. Most above 1000 ounces. Anyone with more than a few ounces will also be fine IMOHO.
So I would say around 1000- 1500 ounces!
We must be crazy!
bullsnutsoz 4 weeks ago
@kchsbaseball1. 1964 and earlier. Or put another way...pre 1965.
KonaChuck22 4 weeks ago
lol, the poll means that the participants have stacked 1% of investment silver of a year. so "we are the 1%", hahaa
moleccccular 4 weeks ago
lol @ the speeches!
moleccccular 4 weeks ago
Do we save 1964 and earlier coins or start at 1963?
kchsbaseball1 4 weeks ago
@kchsbaseball1 Check out coinflationDOTcom. There's a section there for "Silver Coin Values" and it will show you all the coins that have Silver.
ShamiAmourae 4 weeks ago
@ShamiAmourae they also say how many were minted for each year and we can add them all up for each coin
elysianfury 3 weeks ago
@kchsbaseball1 1964 and below in dimes and quarters.
dcblyke 4 weeks ago
I miss 1080p :(
1bchrisd1 4 weeks ago
I've thanked you before and I thank you again. Your efforts are intellectual philanthropy.
movieklump 4 weeks ago 3
These numbers are just for the Washington Quarter....3,776,134,600 (minted) x 0.18085 oz (silver weight) = 682,913,942 oz....value at $6.02 each... = $22,741,034,282 This is figured at minted weight of .7234 not junk worn of .715 (not much difference)... and current $33.30 spot price. So just this 1 coin is about equal to total yearly production, but it is also the highest combined amount of silver for any minted coin ever produced.
thedot22 4 weeks ago
Always check the UDX against all charts.
That gap coincides with the dollar plunging.
davematherly 4 weeks ago
Seriously one of the best blog and channel out there. Thank you very much. A lot to learn from your videos.
micpax1 4 weeks ago
Z.I.R.P for the next 3 yearsl. I'm worried about the social consequences for our elderly population. They are going to be wiped out. Most elderly have slowly been drained of their money due to so many reasons; health care needs, unexpected household bills. WHEN IT'S GONE, IT'S GONE. My grandparents earned interest on their savings account & paid off 15 year mortgages in 10 years. I'm calling 3 more years of Z.I.R.P. criminal actions against the elderly & helpless.
lynnybee888 4 weeks ago 3
@lynnybee888 They are doing it to any one who is working now or as long as you are not on some handout..If you have money and are retired or independatly ok with money or rich semi ,your money is being debauched,or displaced with more paper..The less money the overall population has,it makes it easier for "them" to have tighter controll over wide and large population that has less and less influential power...
CrashMarket 3 weeks ago
@lynnybee888 Who the hell cares about them? They have been living like decadent pigs for decades, if they failed to prepare that is their fault. I feel sorry for the young who have no future and are born into massive debt burdens and are expected to pay for it through higher and higher taxation. No one feels sorry for the first people to get into a ponzi scheme.
DuncanL7979 3 weeks ago
@lynnybee888 stuff the babyboomers - they pillaged the world - the most selfish generation ever!
BiggerThinking1 2 days ago
Thanks for the update. Really enjoy your videos and your blog.
I found the poll numbers particularly interesting. As a block, we collectively hold a significant amount of the Ag available for investment.
Assuming the numbers are realistic - they also highlight the fact that once Silver gains mass appeal - the amount available will dry almost instantly. Amazing.
reachwest 4 weeks ago
typo above .. should read "the amount available will dry up, almost instantly"
reachwest 4 weeks ago
I had a revelation just now.
I just realized Humpty Dumpty is fiat currency.
He's NOT an EGG! He's FED NOTES!!
I can't believe they've had us fooled since childhood!
UNENSLAVER 4 weeks ago
thank you john...please make a clip on calculation on inflation adjusted price?? am sure many people want to know how to calculate. thanks again for your excellent video
ouseh 4 weeks ago
coinflation (dot) com has mintages on junk silver. Roughly 870million-900million silver nickles, for examples. Although it states the 1943/2 P mintages as "Unknown".
SilverTemplePIlot 4 weeks ago
By far the best silver blog on the net. Thankyou very much for your work and sharing it.
whittonmatt 4 weeks ago
Thanks again!!
BYBB123 4 weeks ago
As for coins, I don't think I've heard you talk about Mexican Libertads very much. They only have two different designs, which you might look at as a negative - however, they have very low mintages for most years and silver seems to have a stronger connection with the people of Mexico than in the U.S.
SilverTemplePIlot 4 weeks ago
Hahahaha!!! Bernanke and Obama sound like the teacher from Peanuts cartoons.
jayblow77 4 weeks ago
@BrotherJohnF Bla bla bla bla !
gasdorf 4 weeks ago
Great video, thank you.
highandwired 4 weeks ago
Need to get some junk. Very useful. You should also poll the gold as well.
suzettespencer 4 weeks ago
Calculators are whirring at the moment, figuring out what Zero Percent Interest for three more years means for the price of commodities, PM's and the value of the dollar.
MykeeRamen 4 weeks ago
Your subscribers have at least $54 Million dollars (based on a current silver price of $33 - and the number of ounces in the poll so far) invested in physical silver metal. To put that in context, according to Romney's recently released tax forms he made a little over $42M over a two year span. As though he put all (reported earnings) of his money into silver he made from two years and then some.
SilverTemplePIlot 4 weeks ago
love ur vids
jamesarongray 4 weeks ago
My local coin dealer sells Canadian junk silver under spot. Thier buy-back is signficantly under spot though. Still, I have about 100oz worth.
MyOwnYTAccount 4 weeks ago
The Bla bla bla bla was a nice touch ! lol
TheSilverWatch 4 weeks ago
rofl about your summaries, nice job. One interesting news item I came across on SilverSeek; mine production in the US dropped last year. One of my neighbors has one of those junk silver bars from back then. It's ten pounds, produced locally.
acuriousbeast 4 weeks ago
Great post! The 'junk', or constitutional silver, are fun coins to collect. Love the Morgan & Peace dollar, as well as Franklin & '64 Kennedy Halves. I have even been given 2 pre-65 quarters, as change, in the last few months. Pre-82 pennies are worth more than their face value as well.Happy coin hunting! Check out coinflation for more valuation parameters. Check out American Coin Hunter for some vicarious metal detecting fun.
MrMetalBreath 4 weeks ago
@MrMetalBreath Nickles are now also worth more than $.05 in copper and nickle.
freesk8 4 weeks ago
@freesk8 good job at pointing that out. i think Kyle Bass just smiled.
MrMetalBreath 4 weeks ago
Spelling error.. Meant then u will not when u will.. And yes junk silver is great to have in one '
brandonr8888 4 weeks ago
hi broj i caught a vibe that u personally dont think were going into a catastrophic monetary collapse but u dont rule it out huh?
braveheartwarrior 4 weeks ago
Another good poll would be to see how long people have been stacking and what % of their savings is in precious metals. Thanks for the vids.
aneuploid68 4 weeks ago
I don't have junk silver for silver value,..Our family has just saved it up over a few generations,...NEVER going to sell it. My son might,..but that will be up to him. I suspect that if I have some,..there is a fair bit out there
phatkd 4 weeks ago
I am 37 yrs old and have over 20k oz of physical Silver.. When there are more like me when u will know we are in a bubble.. I will sell North of 300 a oz...Your videos are great!!!!
brandonr8888 4 weeks ago
EXCELLENT as always John. Thank you.
SIERRAHPBT 4 weeks ago
Oh man that had me doubled over laughing!
theuncon 4 weeks ago