Junk Silver: Gold and Silver prices up

Gold prices have surged over the $1000.00 per ounce mark in international news. Expect to see more Cash 4 Gold commercials on TV anytime now. But with the good news for gold, we have similar good news for silver.

A little over a year ago, silver was sitting around $9.00 an ounce. Today, it is nearly double that price at $17.10 the last time I checked. That was a great investment if you purchased silver bullion, rounds or my personal favorite, junk silver. Junk silver is anything but junk. As you know, those are pre-1965 U.S. quarters, dimes and halves which contain 90% real silver content.

Where can one get their hands on some junk silver right now? Your best bet will be the local coin shop, jewelry store or "gold and silver exchange" retail outlet in their town. The exchanges advertise heavily and usually feature gold, diamond and silver jewelry, used Rolex's, gold and silver bullion in small amounts and plenty of junk silver coins.

Generally, most exchange shops will buy silver coins for a price below premium or for "melt value". However, they often keep a stash of coins on hand for investors to purchase. A good starter investment for junk silver could be a single roll of dimes or quarters. Pick up a couple of dime rolls and keep them in a safe place at home (piggy bank is a bad idea). Make sure little hands and curious eyes don't find those junk silver coins as they are legal tender for candy, sodas and cigarettes and all too often find their way to the 7-11 and spent by mistake.

Gold is a great investment, but at $1K an ounce, is out of range of many of us. Junk silver is a low cost and safe way to invest in precious metals for anyone.