$1000 90% Junk Silver (Mixed)
Constitutional silver so called because it is in fact authorized by the US Constitution and was the last form of US currency to follow what the Constitution mandated. Article I, Section 10, the states are not permitted to “coin Money; emit Bills of Credit; [or] make any Thing but gold and silver Coin a Tender in Payment of Debts….”
Lyndon B. Johnson had this to say when he removed silver from US coinage, “Now, all of you know these changes are necessary for a very simple reason–silver is a scarce material. Our uses of silver are growing as our population and our economy grows. The hard fact is that silver consumption is now more than double new silver production each year. So, in the face of this worldwide shortage of silver, and our rapidly growing need for coins, the only really prudent course was to reduce our dependence upon silver for making our coins.”
He went on to add, “If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content.”
Today these silver coins are all but picked out of circulation and the the value of silver has also changed dramatically upward. A silver dime in 1964 had the minted value of of 10 cents. Today a reputable bullion dealer will pay you around $2.00 for the same dime. Constitutional silver is what Ron Paul was referring to when he said I can show you how to buy a gallon of gas for a dime.
If you are looking for fractional silver then this is you best option. While not being exactly 1/2, 1/4, or 1/10th fraction silver of a troy ounce they are close. The best way to understand the amount of silver that each 90% silver coin has is to go off the industry standard of .715 per dollar (.723 is the amount in freshly minted coins, .715 is to account for wear). When you hold a dollar in 90% silver pre 1965 US Coin you are holding .715 of an ounce of silver.
These coins offer a 20% savings over fractional silver rounds.
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