Silver: What You Need to Know

Silver: What You Need to Know

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Silver is one of those precious metals that’s not only easy on the eyes but something you should have your hands on if you were ever to face difficult times. One day paper money may no longer hold any value, but silver will never be worthless. If you’re thinking about investing in silver in the near future, there are a few things that you need to consider. You certainly don’t want to get ripped off by the scammers who are out there. Let’s check out Silver: what you need to know. 

Please note, I have not invested in any silver or gold so I’m not the one to ask where to buy it. My investment has been in food, water, and emergency preparation protection. This post is updated from 2020. Enjoy.

Silver: What You Need to Know

Silver: What You Need to Know

Several people have discovered that silver has a number of health benefits for you as well. This may be one of the reasons why our eating utensils were once made from metal. Here’s more on silver and some important and helpful ideas you need to know about it. In case you missed this post, Gold: What You Need to Know

Related Topic: Why You Should Stock Up on Precious Metals

Fun Facts About Silver 

Ancient peoples first began mining and separating silver from lead as early as 3000 B.C. in what is now modern-day Turkey. They fashioned it into their jewelry, ornaments, and eating utensils. Silver has been said to have antibacterial and germ-killing properties, which is why at one point it was used to make the silverware we use to eat. 

  • Pure silver is actually the best conductor of electricity, more than any other metal, but it’s not used as often for obvious reasons, it’s expensive.  
  • Once it’s been used, silver is not typically recycled as gold is. When electronics and TVs that have silver parts in them are used up, they usually find their way into landfills to be buried. 
  • In 1913, silver was traded for $2.64/oz. Years later in 1980, silver was inflated to its highest level of $49.45/oz. As of today, there’s been a major drop in trade value, at $24.22/oz. As far as the US Debt Clock is concerned, silver should be valued at around $599/oz at this point.  

Health Benefits of Silver 

As strange as this sounds, silver has a number of health benefits (and it’s been shown to be safe for you to do so) when you consume it properly. No, I’m not telling you to sit down and start taking a bite out of a huge chunk of it, but you can take it in a supplement form. It provides your immune system with a boost by assisting it to keep you healthy. Please check with your medical professional to be sure any medications you are taking will work with structured silver.

Please keep in mind, I am not a doctor, a nurse, or anyone in the medical field. Just to be clear, silver does not CURE any disease. I use it whenever I feel drained or I have been around sick people. Doctors have discovered that applying silver directly to a wound helps to kill off the bacteria that are causing the infection around the wound. It also helps skin tissue to grow back and repair itself more quickly. Silver may help soothe sinus infections and may help soothe the effects of the common cold or flu. 

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People who have used antibiotics too often in the past have come to discover that many of those diseases and infections they’re fighting have created an immunity to the medications. We need to be aware that some dairy products and animal products are loaded with antibiotics and hormones. That heavy usage in foods has possibly caused current antibiotics to be less effective with our bodies in fighting infections now like they used to. Please do your research, you must.

Knowing the Different Types of Silver

If you’ve already made up your mind and are thinking about investing in silver, you’ve already made a great decision, but you need to know what your best options are for investing. Here’s a look at a few different types of silver that you can acquire as part of our investment portfolio.

Silver Bullion Bars

Silver bullion bars are a cheaper way of investing in silver, which makes it a great option for those who are just starting out. Here’s an investor’s guide to purchasing silver bullion bars that make the most sense for you. Investors who purchase silver bullion bars don’t tend to collect them for too long, and eventually, sell them when the price of silver goes up. 

Silver Rounds

If you’re first starting out you may not know the difference between silver coins and silver rounds. To clarify, silver rounds are the same as silver coins, and the only difference between them is that they are not legal tender to be used to make regular retail purchases. Silver rounds are made by private manufacturers in private “mints” instead of by the government in government mints. This could be a factor in making them cheaper to purchase, and a greater value to you as prices tend to fluctuate. Just keep in mind that shipping costs are one of the expenses that you should expect when investing in them.  

Silver Coins

Silver coins are a great way for you to get started investing, where certain coins out there are quite expensive, while others are much more affordable. Buying your silver this way is all about the craftsmanship and the detail. Check out which silver coins may be your best option to invest in. 

The government stopped the general minting of coins with 90% silver content back in 1965. Although a few silver coins we minted on a limited basis after that, most silver-colored coins now are a mixture of copper and nickel alloy metals. Most of those older silver coins now are being held as investments with very few still found in circulation.

For many years the government had a huge stockpile of physical silver as a means to back government debt. That reserve stockpile has been done away with and the government debt isn’t backed by silver or gold.  

Scrap Silver

Scrap silver may not be the way to go if you’re first starting out with investing, but it does hold good value. That’s because a novice may not know how much they are getting for the money that they’ve spent, while an expert could easily identify whether the metal presented for sale is a good deal or not. Scrap silver consists of silver coins and jewelry, but it’s important that you do your research before you purchase it, about what it’s worth in your area, and where it came from. 

You can hire an appraiser with credentials in valuing gems and jewelry issued by the American Society of Appraisers (ASA). These professionals know their stuff and you’ll find it’s worth paying a fee to get items appraised. Some jewelers tout their ability to value silver jewelry and coins. I’d feel more comfortable with an unbiased appraiser from the ASA.

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Junk Silver

Junk silver is silver coinage (like quarters and dimes) that doesn’t hold any value other than the bullion value that it contains. It’s not seen as a highly collectible item, but its premium is rather low compared to most other silver bullion, making it still worth the investment. Junk silver is easy to get your hands on and can be sold by the roll. 

What are some common ways for industrial use of silver?

Because of the unique makeup of this precious metal, it has been found very useful in the industrial sector for a long time. For years, and before the digital production of photos, silver was a major component in the photo industry and the production of photos in your family album.

With silver’s electrical conductivity, it has proven to be a critical component in the growth of the electronic industry. It’s been said that economic growth can influence silver prices more than almost anything else, even outpacing the effects of pure gold in value. We’ve known for centuries that silver’s durable and physical strength, brightness, and ability to be shaped, have made it a natural metal for jewelry, eating utensils, and artwork. Now we’re using silver to coat other metal alloys, make batteries, dental work, coat glass, computer and LED chips, medical equipment, nuclear reactors, solar panels, RFID chips for shipment tracking, and water purification systems.

Silver is also used by computer manufacturers to make touch screens, semiconductors, and a quality preservative in the wood industry. Buyers in hundreds of industries have found a use for silver, driving up its industrial demand and value with dealers worldwide.

How can I properly protect the physical attributes of the silver I decide to store?

When it comes to the storage of silver, there’s more to it than just physical security and the concern for weight distribution. Silver is affected by moisture and will tarnish. Some things to consider are:

  • If the silver becomes dirty, you can wash it in warm, soapy water and then fully dried before storing it.
  • Keep your silver in an area with low humidity and high heat.
  • Wrap your silver in materials that won’t tend to tarnish the metal. That can be special silver cloth or plastic bags that can be sealed. Be sure to steer clear of any physical materials that have hydrogen sulphide and other sulphide materials in their composition.
  • For silver jewelry or flatware, consider a wooden chest with a protective lining, a flannel-lined case, or wrap in an anti-tarnish bag or cloth.

What Happens to Silver If the Dollar Collapses?

If at some point the U.S. dollar were to one day collapse, the price and demand of silver would go through the roof. Our paper money would be useless, but silver would still hold even more value. The United States, along with every other country, would begin buying up silver for their reserves in order to make newly minted coins. 

This would also lead to the collapse of the Central Bank and countries would no longer trade with countries that used “fake money.” This may be closer on the horizon than we might expect. The time to invest in silver may be right for you at this time. But first, research and research again.  

More Tips

Final Word 

Here are the “Ten Commandments” for purchasing silver and gold, along with other important information that may answer some of your other questions. If you’ve been investing in silver for some time now, do you have any tips or insight for the first-time or casual investor?  Be careful with your hard-earned money, research before you invest in ANYTHING. May God bless this world, Linda

Copyright Images: Silver Bars in Bank Vault Deposit photos_66715947_s-2019

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24 Comments

  1. Ok so y’all help me out. There’s a lot of smart folks on here. I’m a simple guy with a lot of questions. The dollar collapses tomorrow but you need food. I’ve got chickens.
    So you bring me silver to pay. What’s the ratio?
    Where would that determination come from?
    There’s about 100 types of silver coin and many partial silver coins like we used to have in quarters. How do I learn them or have a reference handy?
    I don’t think I’d have to worry bout bullion cause I ain’t got anything worthwhile that I’m gonna part with.
    Now to test them. I need a magnifying glass, bleach and Neodymium Magnets if I’m understanding this right?
    What’s y’all plan for this barter/payment?
    I guess these are enough questions for now cause I dunno the difference in a maple leaf or a panda opposed to a liberty eagle.

    1. Hi Matt, this is why I stock food, not silver or gold. I need to feed my family. I just did the research but I know a lot of people want to buy silver or gold. I know a lot of people who stock it over food. I’m just simple, I store food. Linda

    2. You have the chickens, so you set the rate and if things are really bad you might consider not taking silver at all and instead bartering for food, seasonings, or even labor.
      My preps are mainly food related since you can’t eat silver. But once I had a comfortable supply of food, I started picking up junk silver to give myself flexibility after things have settled down post event. But to make things easier on me and any trading partner, I stick with American coins: half dollars and quarters where the date is easy to read, and Mercury dimes which are easily identified by the designs and don’t require a readable date.
      This of course ignores the medical preparations of silver, although I tend to shy away from them since I’ve seen pictures of folks turned blue by using too much over a long period of time. So I’ve stuck with traditional medicine, OTC products and fish antibiotics. Probably silly of me to ignore silver solutions, but it can be hard to overcome some feelings….

      1. Hi DmWalsh, I only use structured silver which is different than colloidal silver. I have seen the blue/gray people as well and it never goes away. I hear you on that one. Linda

        1. I’ve used structured silver and it was a a huge waste of money! I make my own and have healed myself and others of several maladies. Abscessed tooth, stomach flu, diverticulitis, brown recluse spider bite(in a few days), just to name a few!
          This is why I buy pure silver.

          1. HI Deborah good job, I had a neighbor who made her own and it was not good, her whole body coloring was greenish gray. It will never change. She is so sorry she tried making it with a neighbor. Life is good if you research before you use it or make it. Linda

      2. I appreciate the feedback. I’ve asked these questions since 85. I went through the oil and bank collapse in Oklahoma in 83, the market and housing crash in 07 and was in the army and went to various places. Not once did I see PMs come into play except one man who fled the country.
        I always checking to see if I’m missing something but being the simple guy I am I think it’s best I stick with simple bartering.
        I don’t do the colloidal silver med either. I’ve used silver meds on burns though.

    1. In the pre-Covid days I used to go to local coin shows and check around the dealers to see who had junk silver available. But I always made sure to check the spot price of silver before heading out to the show so I could figure out how much of a premium the dealer wanted. If it was close to what I could get with an online purchase (figuring in shipping and credit card fees….) then I’d make a deal. Of course, I only would buy with cash in person to avoid any fees and I only gave my contact info to folks I trusted so they could let me know when they’d be at the various local shows.
      There are online merchants, but I’m leery of recommending them since one time I got a delivery via the USPS and the mailman knew I was getting precious metals….not a warm fuzzy feeling for OpSec. Small heavy packages even with obscured sending info are pretty obvious. Sigh.

  2. Great article! I also invest in precious metals (mainly gold) more so for financial security than for bartering purposes. However, instead of investing in precious metals physically why not invest in them within the stock market? I chose to invest in the companies who actually mine out the gold and silver, and reinvest my earned dividends back into that fund. Just a different way of doing it but essentially serves the same purpose.

  3. I’ve actually reconsidered my thoughts and I’m still of the mind of my original comment with the exception of the dollar collapse which I see as becoming more imminent. Some time in the future the props will fail and when the government starts trying to issue a new kind of money you know it’s over.
    I’m looking at rounds but still haven’t decided

    1. After buying food, guns & ammo, I started buying metals. I just don’t think investing in paper dollars that they print out of thin air makes sense. But all in all, I think maybe 20% of the total assets that I own are in precious metals. That is what I am doing anyway. Watch out for fakes. They are selling $30 silver eagles on Facebook for $10. I wonder why?

    2. Hi Matt, I’m in the same boat, not sure which to stock up on. By the way, California is closing or shutting down many car insurance companies. Is bad drivers, bad loans, or both. I told my daughter here is one more reason I see the economy is in trouble. I was going to email this to you. https://www.cbsnews.com/losangeles/news/auto-insurance-companies-pull-out-of-california/. In some cases if you don’t have insurance on your cars right now you may not get it. As a former private banker no car insurance no car loan. Yikes, Linda. P.S. Yes, you can pay cash for your car but what recourse do you have if you are t-boned or even worse. Linda

      1. Kalifornia
        That’s some of them folks that live in smog filled cities with homeless and lawlessness that say we got it all wrong breathing clean crisp air in peace watching sunrises cause my cattle fart too much lol
        What a joke

        1. Hi Matt, too many fires and too many car accidents. Now some major home insurance companies are pulling out. The payouts are higher than the premiums. Crazy weather and out of control drivers, I guess. Linda

  4. I don’t know anything about the silver and gold markets and have no interest in investing in them. I prefer to stick with what I know – food and how to put up food and various kinds of tools and how to use them.

  5. Linda,

    I have invested in small amounts of silver and gold, but virtually all of it was in the form of collectible coins. By collectible I mean mint condition, rated MS 69 or MS 70. I did this as an investment since those types of coins do not fluctuate in value when the price of bullion moves up or down. The value of collectible coins just increases over time. Two other reasons: First, it will be a cool thing for my kids to inherit, and second, even if the government makes private ownership of gold and silver illegal (like FDR did back in the 1930’s) it is highly unlikely they will outlaw collectible coins. Even FDR didn’t do that.

    I do have some pre 1965 “junk” coins, but I mostly just saved those from spare change I got over the years. Their value does fluctuate with the price of bullion.

    As far as Prepping goes I think it’s wiser to invest in food, ammo and other such commodities, but if you want to invest in precious metals, I’ve had good experiences using Provident Metals, a Texas based outfit. Their dealings with me have been honest.

    Even after an economic collapse food and ammo will hold more value than metals. People like Ferfal and others who have lived though such hard times claim metals hold their value or even get more valuable, but so do gem stones. And even they state the primary value in them is in trading them for food and other necessities.

    As far as bartering with precious metals or gems goes, the person with the commodity wanted by the person with the gold, silver or gems to trade will set the price. And that will vary depending on how desperate the holder of the precious metal is. It will, in short, be a sellers market.

    1. Hi Ray, I totally agree with you about it will be a “sellers market”! Everyone has different ideas as far as a an economic collapse, you and I both went through the 2005-2008 economic collapse. I’m getting emails where people are telling me their credit cards are being lowered. One for instance had a credit limit of $10,000.00 now lowered to $700.00. Do you remember when Countrywide (I used to broker mortgage loans through them)? This bank was one of many at the time, it started closing HELOC’s, home equity loans. Then many banks followed suit and all collapsed and closed. Many banks right now are being downgraded. Now, that makes me really nervous. Bad loans, risky loans, people lost jobs, etc. Now insurance companies are not insuring cars or homes in some states. Google it, this is really bad in my opinion. Linda

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