Many countries used to make their coins from silver, but that ended decades ago. You can still find these coins and they're easily recognized. Because of this, some include it in their holdings either for a long-term investment (Limited supply since it's no longer produced) or use as barter in an end of the world type scenario. While it certainly has the potential to appreciate in value over time, a large amount won't be used for barter.
The Problem
Many people are unaware that older coins were made of silver or gold, instead of lesser value base metals. While some do know this, many in this group don't know the details of which coins were silver or gold and which weren't.
Using US coins as an example, all dimes, quarters and half dollars made through 1964 are 90% silver. Where it gets confusing is that, to those who don't know the difference, dimes made of silver in the 1960s look the same as modern dimes with Roosevelt on them with no silver in them. The same goes for quarters with George Washington on them.
To make things more confusing, only Kennedy half dollars from 1964 were 90%, but from 1965-1970 they were made with 40% silver, and nothing valuable from 1971 forward.
This is why the majority of "junk" or 90% silver will not be used for barter. Your average person doesn't know the difference and is unlikely to be willing to learn when they're busy just trying to survive.
Exceptions
There are some exceptions to this, as some fractional sovereign silver is unique and old enough that it can't be mistaken for modern coins. Using US coins as an example again, older quarters have a figure of Liberty standing up, older half dollars have Liberty walking or Benjamin Franklin on them, older dimes have Liberty in a winged hat on them, and even older dimes, quarters and half dollars depict Liberty wearing a hat with an Olympian-style wreath. These designs aren't on any newer coins and are very iconic and unique.
While you could use these for barter due to how unique they are, that same uniqueness also raises the possibility they could become highly collectible in the future, causing prices to rise dramatically.
You're more likely to have better success having extra ammo, liquor, beer, food, cigarettes, and other items to simply trade for what you need. Instances where precious metals would be useful for barter seem far and few. While it's nice to be prepared for what might happen, don't plan exclusively on this and have an exit strategy for this if you end up not needing it for barter.
Things could get desperate in disorderly economic collapse scenario and stacking other essentials that can be tradable is always a good ideal. I don't drink much but I stack some liquor since it has a long shelf life and there's always a market for them, even the price of these have gone up considerably.
Exactly. It's not a bad idea to have shelf-stable commodities on hand for trading in a worst-case scenario.
I believe the transition to be more orderly than chaotic, I guess the intensity can vary depending where you live, it would still be prudent to prepare for that possibility and have old silver coins at hand. I also have a few months supply of 25 year shelf life emergency meals I can use or trade. Should I don't spend these silver coins the better, I'll past them on my kids as generational wealth.
There's a scene in the current movie Civil War where a van full of reporters, headed to D.C. to cover the fighting, pulls into a gas station staffed by three armed men, looking to fill up with gas. As the scene unfolded, I wondered what they would barter with for the gas. They ask for half a tank and two cans and offer...$300. One of the men replies, "$300 will get you a donut and a cup of coffee (or something like that)." The driver responds, "Canadian," and they fill up with gas. Did not see that coming!
I think your advice is sound, to have a range of items, including silver, to barter with. I might add medications/first aid supplies to your list.
Sounds like an interesting show!
Yes, good point on the first aid supplies and medicine.
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When silver was not as expensive as now people used it to make lots of things even cutleries and household items. I still have a decorative fish made of silver.
Very cool! I used to have a couple of silver goblets, but ended up selling them off because I just didn't have the time to keep cleaning them when they got tarnished.
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I tend to think that in an end of the world type scenario, most of us wouldn't last long against the roaming gangs, so junk silver wouldn't really be that much use to us anyway. Having some kind of skill or ability to grow things would be more useful. But I guess better than nothing, eh? I've taught my kids the dates for US coins so they are always looking for silver. For Japan coins, they know all the junk silver coins because I have them, but the designs have changes so they are much more rare to find in the wild.
Yeah, skills would definitely be more useful than junk silver. Have your kids found much junk silver in the wild?
This is precisely why I am slowly collecting all of the Foxfire book series. 😄 It has so, so many "old ways" of doing things that have been all but forgotten in the modern era (and of course, YouTube wouldn't be available anymore). And sometimes it's the little things, too, that are worth more for barter. You'd be surprised what you could get in trade for a simple sewing needle once all the stores have been looted. And don't get me started on the usefulness of being able to make your own penicillin...
The world of mad max may not be all that far off the way things are going anymore, then we'll be glad we have silver to barter with!
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I hope it doesn't come to that, but at least we're prepared. 🙂
Best be prepared, I'm not even sure the US will be around in a few more years the way things are going...
Also brought up a point about this before becouse even beside looking fairly similar it's not a very small unit of exchange especially if price of silver goes way up !BBH
Very true. A smaller denomination would come in handy.
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But almost no good way to get em without getting hit with high premiums also I doubt most people would value silver I'm sure you seen a few videos of people giving away precious metals and people pass it up most don't know that it's super easy to sell them if need be and that they basically turned down free money even if they have no interest in stacking !BBH !LOL !ALIVE
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