Not too long ago, the idea of prepping, and having the tools to survive in the event of a disaster seamed pretty far fetched.
These days, it’s wise to be planning ahead as even the CEO of Chase has offered only dire predictions for the coming year.
The conditions we saw at the start of the pandemic with empty store shelves and limited supplies of basic necessities are likely to return.
Liquidity in both the stock and crypto markets continues to suffer while more companies announce layoffs following a year of record profits.
A new survey, published in January 2023, shows that more than 56% of households are unable to cover a one-time $1,000 emergency expense from their savings.
The amount of emergency savings needed by each person depends a lot of their expenses and emergency expectations. LifeHacker recommends that to calculate what you might need, you can estimate a week’s worth of expenses for food, bottled water, medications and any other necessities for your family.
Silver Preps
Having some money saved in the event of difficult financial times is practical and common sense. Stagnant wages and high inflation have already been making things difficult.
One of the first notions that comes to mind is to having fractional silver on hand for bartering.
“Junk Silver” is the best option for having fractional silver at home. It’s readily available and easy to authenticate. Most importantly, it’s affordable and easy to make regular purchases on a budget.
The coins in everyday circulation minted prior to 1965 were made from 90% pure silver mixed with some copper for durability.
These are coins that are of little interest to most collectors since most will show some wear and tear from circulation .
Each silver half dollar, quarter and dime minted before 1965 has known and verifiable amounts of pure silver and a small amount of copper.
During the time when silver was still circulating, the coin had real intrinsic value.
Buying 90% junk silver coins is the most practical fractional silver to stack that is hard to counterfeit and simple to authenticate.
Identifying 90% Silver Coins
Visually, you can identify junk silver pretty easily by looking at the rim of the coin. Coin roll hunters often use this trick when searching through boxes of bank rolls.
Weighing the coins is also a simple method to determine genuine junk silver. You will need a scale that measures in either troy ounces or grams.
Most kitchen scales or the herb scale you can get at the local gas station or from Amazon is often sufficient.
The table below shows how many grams of silver contained in each denomination of 90% junk silver:
| Denomination | Face Value | Gross Weight | ASW |
| Half Dollar | 50 cents | 11.34 grams | 10.206 grams (.328 ozt) |
| Quarter | 25 cents | 6.25 grams | 5.625 grams (.1808 ozt) |
| Dime | 10 cents | 2.5 grams | 2.25 grams (0.0723 ozt) |
Each $1 USD of face value yields approximately .715 ozt of silver. So, a $10 Face Value roll of silver quarters has roughly 7.15 troy ounces of pure silver.
Holding onto even a small stack of silver helps to understand the intrinsic value and why it has been used as real money for hundreds of years. We’ve seen in the wake of hurricanes and other natural disasters that debit cards, Apple Pay and ATM machines don’t work when the power grid goes out.
Junk silver is the most logical starting point when it comes to financial prepping with precious metals.
- It fits all of the characteristics that are important in a SHTF scenario.
- It is naturally fractional.
- It is easy to authenticate in the field.
- It is difficult to counterfeit.
40% and 35% Silver Coins
From 1964 until 1970, the Kennedy half-dollar coin was minted with an alloy that contains 40% silver. Not long ago many investors overlooked these coins because of the reduced silver content. Though 40% Kennedy half dollars can often be found with much lower premiums.
The war nickel was minted during World War II. From 1942 until 1945, nickel was a critical metal needed for the production of tanks and armor for vehicles. The metal used for the coins was reformulated to an alloy containing 35% silver.
1 oz Silver Coins and Rounds
After building a stack of junk silver, the most practical .999 fine silver options are typically 1 oz silver coins, rounds or bars. This weight is very common to find available from online bullion dealers and marketplaces or local coin shops.
As the recession takes hold, one ounce silver coins and rounds have become a popular way to hold an investment in silver.
Many people have similar questions when prepping with precious metals.
What is the difference between a coin and a round?
There is only one single characteristic that distinguishes a silver coin from a silver round.
Coins are minted by governments and are designated as legal tender.
This provides a guarantee that the weight and purity of each coin is minted to the exact specifications as outlined in the law.
For example, the face value on bullion coins such as the Canadian Silver Maple Leaf, is one Canadian dollar ($1 CAD). But the intrinsic value is based on silver spot price.
Silver rounds are similar to coins in shape, composition and dimension. They are designed to mimic the feel of coins and have the similar composition and silver purity.
The distinguishing factor is that silver rounds are produced and distributed by private mints and have no legal tender face value. One ounce silver coins and rounds share the exact same intrinsic silver value.
Premiums on silver rounds are lower than coins because of the face value and they have the backing of a trusted sovereign government.
Silver rounds from private mints will typically be less expensive than coins.
