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Hypothetically,let's say I want to buy silver for an up-coming recession. What is the most interchangeable silver currency I can accumulate?

5 Answers

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  • ?
    Lv 7
    6 years ago

    A McDonald's cashier will look at you funny if you try to hand her a 1 oz silver bar, so that isn't very "interchangeable." Poor choice of terms. What are you trying to actually do? Coin is the most interchangeable. In a depression though, that same silver bar would be very "interchangeable," and paper etf's might be worthless.

    The SLV etf is the most liquid and most tradeable with the least expense and problem.

    For investing purposes (buy and hold), silver bullion is the most sure form and the most fun to have around. Leave a bar laying around to see who you can trust. Give them away as presents. Melt them down into something. Numismatic coins have to remain scratch free. Throw a chunk of bullion or two in your trunk for emergencies.

    Don't know what you mean by "interchangeable." To what?

  • Jerry
    Lv 7
    6 years ago

    Not a good idea. Precious metals typically drop in value when the economy slows down. Silver was under $10/ounce during the last recession.

    The cheapest, easiest and safest way to buy silver is on the stock exchange. SLV is the silver ETF. You don't pay a premium as with physical silver. No risk of theft. No insurance expense.

  • 6 years ago

    Silver bullets. - The Lone Ranger.

    > Nobody is going to give you goods and services in exchange for gold or solid silver 1 oz coins. Old U S coins with real silver in them will not buy you any more than a modern U S coin would.

    If a recession is coming you want to be debt free and have lots of U S cash (and a gun and bullets, in case there is rioting and looting).

  • 6 years ago

    Junk coins, you can buy them at any coin store. Junk coins are normal looking coins that are made of silver, instead of copper and zinc.

    Any Nickels or quarters that are dated 1964, or before, are made of silver.

    With pennies, any of them with the date of 1982 or before contain real copper.

    With dimes, it is either 1965 or 1964, I am not too sure.

    Source(s): I myself have purchased them in the past.
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  • wg0z
    Lv 7
    6 years ago

    US silver eagles, Canadian maple leafs or any of the private mint rounds ( e,g., buffalos, mercury rounds, APMEX products)

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