Converting clad to silver

Semtav said:

Thanks for the ideas. I used to do that in my earlier years with gold coins and silver dollars. Then got busy and life got in the way. Where is a good place to look to see the going price for the common silver ? I think I will stick with the Franklin and Walking Liberty halves for a while.

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Go to Coinflation.com and you'll get an up to the minute quote for the price of silver and gold. There's .715 troy ounces of silver in a dollar's worth of silver coins. To see if you're paying a fair price multiply the current spot price by .715 and that will be a ballpark price of what you should pay at the time of purchase. Silver dollars have a higher silver percentage and are priced higher than dimes, quarters and halves.

dirt dick said:

I've been thinking of doing the same with my clad,
still haven't cashed in last years. (cleaned it, but haven't cashed it)
I have one big jug full of zinconlincons over 4000
their gonna love me at the bank, when I walk in with that jug............

Are you buying your silver coins from a coin dealer/coin shop or off ebay ?

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I pay with cash at coin shop , usually pa 2 to 3 bucks over spot for I Troy oz rounds when you figure in tax . Premium is a couple bucks more for say government issue Eagles . The 90% pre 65 dimes or mixed is usually a very low premium option . Always recognizable as money and silver . Also many find some coins in great shape ore semi key dates mixed in as the sort or play with it .
No problem buying on eBay from a recognized seller . Often cheaper and no sales tax charged . I do not recommend tax evasion.
I also do not like the fact that there is a record of my purchase in my buying history . I do not stock pile pressus metals in my home and do not buy other then with the clad I find . I don't have much but if someone would look at a persons buying history with multiple purchases from a pressus metals dealer or mint it could make for a target to the wrong type of folks . Let's not talk about my cospitiatorial mind and governent going rogue and showing up for it when they run out of money . Lol. I pay my tax and pay with cash and give it all away as gifts for the holidays of course
Also having a go to person to buy gives you a place to sell or ask advice when you find an interesting item of value . Someone to buy your silver in a hardship position or if you just want to turn it into cash to buy a new detector or something without taking a beating on it is also a nice option . A reputable long standing dealer is preferred . I do not know collector coins and do not recommend buying them unless you just enjoy them . But if you want to come out ahead doing that you better know your stuff . I'd say you should almost be more up to speed then your dealer .
I recommend 1 oz rounds or bars . .999 pure and never a question of weight or value . You should always get spot for them . If I go belly up and my wife wants to sell she knows what she has and it's not a question of grading . If someone questions authenticity they can cut the darn things in half and they are worth the same .

I like your style stacker!

Although PM's such as gold and silver are no longer recognized by governments as money, (they are considered commodities), they are great to keep for a hedge against a failing fiat currency. We really don't have the confiscation worries today that folks had in the past, as today if the gov needs more money, it's just printed. Then again, it can just be created digitally as numbers in a database.

IMO, the value of silver is measured in ounces, not dollars, athough the amount of paper fiat currency it takes to purchase one oz. at today's date is $16 and 62 cents in change, plus or minus any premium over or under spot price.

diggin4clad said:

Go to Coinflation.com and you'll get an up to the minute quote for the price of silver and gold. There's .715 troy ounces of silver in a dollar's worth of silver coins. To see if you're paying a fair price multiply the current spot price by .715 and that will be a ballpark price of what you should pay at the time of purchase. Silver dollars have a higher silver percentage and are priced higher than dimes, quarters and halves.

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Yes, unlike dimes, quarters and halves, a silver dollar normally carries a high numismatic premium in addition to it's silver value.