90% Bag of Silver Coins (legal tender)

90% Bag of Silver Coins (legal tender)

€17,601.62

Pre-1970 U.S. 90% and 40% silver coins were used as money (loose change circulating in the economy) until they were replaced by the precious metal free coinage introduced in 1970 and used today. Today's coins or change in circulation is made from base metals, meaning that the currency has been 'debased'. In 1965 the U.S. Mint removed all silver from all dimes and quarters and reduced the silver content in Kennedy half dollars from 90% to 40%.

Description

90% Bag of Silver Coins (legal tender)

Storage

When investing in precious metals it is important to consider how you want your investment stored.
To put it in simple terms, you have two options available, either:

• take delivery of your coins at your address ensuring that you have adequate facilities and insurance in place or;
• have your investment stored with a secure third party.

GoldCore offer fully insured secure storage facilities in many in international locations such as Switzerland, UK, USA, Australia and Asia.

Composition

90% Ag

History

Nobel Laureate Milton Friedman said of silver, "The major monetary metal in history is silver, not gold."

Silver coins are possibly the oldest mass form of coinage; silver having been used as money since the times of the Greeks. Their silver drachmas were popular coins used to trade throughout the Athenian and Macedonian Empires.

Many factors determine the value of a silver coin, such as its rarity, demand, condition and the number originally minted. Ancient silver coins are sought after by collectors internationally. Other than collector's silver coins, "junk" silver coins and silver bullion coins are popular among people who desire a "hedge" against currency inflation or store of value. Silver has an international currency symbol of XAG under ISO 4217 which denotes one troy ounce of pure silver.

Investment Information

The silver coins in 40 and 90 percent bags are attractive both as an investment and savings medium, and could be used as a means of exchange in the event of a monetary or financial crisis. Bags of U.S. circulating legal tender coins (dimes, quarters, half-dollars) containing 90% silver are traded based on their precious metal weight.

One of the most popular ways to invest in silver bullion is with the 90% U.S. silver bags. These silver coins were misleadingly called "junk" silver bags when the name developed in the 1970s in order to describe a bag of average circulated silver coins - meaning no rare coins were included.

These bags have 715 ounces of pure silver, and can be purchased at close to their melt value. These silver bags are VAT free in the EU and some other jurisdictions due to their legal tender status. Please familiarise yourself with the legislation in your country relating to duties and taxes on silver, GoldCore are not responsible for any duty and tax charged on the bullion purchased.