One of my local store owner (more of a “7-11″ type of store) told me that he’ll keep all the pennies that he gets for me since the Canadian banks don’t give out pennies anymore.
So today I went to his shop to get the pennies, but only his daughter was there in the store. I asked her to give me all the pennies that she has in exchange for cash. She said that she doesn’t have any pennies for the moment. Then, she checked again by bringing out a box. Inside, there were various types of coins.
Then suddenly, I saw a quarter that was a little bit wore off. In my head, I was like “Holy crap! Is that really a silver quarter?”. Then, I took a look at the coin and on the face, it was the king George VI’s portrait! Right away, I knew it was made out of silver! I asked her that I’m missing this piece for my collection and then I exchanged a fiat quarter for the silver quarter! Inside, I found a few Canadian halves and in Canada, halves are not common in circulation. I also found a 1942 20 centavos Mexican coin but I wasn’t sure if it was made out of silver or not, but according to Coinflation, it is silver and it is worth about 2$ in melt value! I found a 1974 American quarter that really looked like silver due to the tarnish and I though it was silver but it is not.
It is my first silver quarter found in circulation and it is a 1943!
I was wondering why did the owner put the silver quarter inside the box in the first place? I mean his daughter obviously didn’t know about the coin being made out of silver. If he knew that it was made out of silver, then he would’ve kept the more recent silver quarters, like the 1965 Canadian silver quarter. Especially because the George VI silver quarters are rare to find in circulation so logically speaking, he sure must’ve find other silver quarters without knowing their composition.
My guess is that the reason why the owner kept that 1943 quarter is because of its old date and he doesn’t know about the silver composition.
Oh yeah just the other day my 8 year old son bought some piece of bubble gum for like .45 cents and paid with a dollar. We got two quarters and a nickel back, unforutnately the quarters werent silver but he nickel was a 1942 war nickel. At 40% silver the coin today is worth about $1.65.
I told my son this is just another lesson in devaluing currency and what purchasing power means. Trust me smart kid for 8. I’ve sat him down and explained with my old silver certificates and my silver eagles how our money used to be a receipt for hard assets and now it says note which means debt and is only accepted upon other people having faith in the government issuing it. He was like “We don’t really trust our government do we dad?” I said “No son unfortunately not, but hopefully in the future government is deemed irrelevant and people don’t need central figures to run their lives anymore.” He was like YEAH!! LOL
That was a great find, Sumkid and congrats. Since wifey commutes via public transportation, I go through two rolls of quarters every month, but I have yet to find a Silver quarter in a roll. Even the 1976 bicentennial quarters are nearly gone from circulation as well.
And even though I also go through one or two rolls of halves every month, the Silver ones are still elusive.
@Orion Lucky for your son, especially because it’s a War nickel! I never even had a silver coin in my change from circulation. Be really careful on what your son is learning at school and tell him to keep his own opinion at school. With my experience right now at school, people criticize your ideas that are totally against the system or for supporting firearms. He can also be rejected by others for that! What a sad world we live in where people don’t have responsibility, independence, self-deciding, a few common sense, etc.
@Mammoth Thanks! Do you have luck at coin roll hunting dimes?
" starlifter While budgeting to buy silver, rounds, junk or ASE, are there any assets you can sell that are not vital or just gathering dust. Garage sales and swap meets are great placed to rid yourself of clutter. The FIAT can then be used to buy silver "Reply To: Limited Budget.
" coinflation, as mentioned, should become your friend. Kowing the math is good, but I always have the latest coinflation updates on me when I go to auctions.
As far as obtaining it, right now it is expensive, but the $100 face bags are relatively cheap compared to what you would pay elsewher... "Reply To: Silver Eagles versus Rounds
" The formula to arrive at the price (of 90%) is silver spot price x .724. Example: Silver spot price is 19.84. So that price X .724 is 14.36 x face (each dollar). So ten dimes, four quarters, two halves would be (value) 14.36 per dollar. Now for the bad news (smile). Those who sell silver (l... "Reply To: Silver Eagles versus Rounds
" It looks like formula is .715 ozt per dollar face.....from my internet search.
So would one 90% quarter be $3.48?
At current silver price: 19.47 per oz.
(19.47 x .715) x .25 = $3.48
Just trying to figure out so I don't get scammed. "Reply To: Silver Eagles versus Rounds
" Where can a person with no much money get the 90% coins? APMEX looks expensive. And what's the formula for getting the price:
For a 90% silver quarter would it simply be the weight of the coin times .90? "Reply To: Silver Eagles versus Rounds
" I pray we never need to use our silver as barter. I enjoy a modest and reasonably comfortable lifestyle, and I would like to keep it.
In the attitude of complete disclosure, on my 8th birthday (a really long time ago)my grandfather gave me a 1923 Peace dollar. He told me to carry it always. An... "Reply To: Limited Budget.
" generic rounds will likely only have value to someone melting for another purpose. I have 2 generic silver rounds, i am going to keep them, but also know that only someone who really knows what they are doing would ever want them. Check ebay for relative prices. "Reply To: Limited Budget.
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