From the Desk of John Rourke: June 25th, 2023
Picking Up Silver Half-Dollars at a Pawn Shop
When it comes to investing in precious metals, many people think of gold as the go-to option. However, silver can also be a valuable addition to your investment portfolio. Recently, I had the opportunity to pick up a couple of 90% silver half-dollars at a local pawn shop, and I want to share why I think it’s a smart move.
Silver has long been considered a safe haven asset, especially during times of economic uncertainty. Its value tends to rise when the stock market is down or inflation is on the rise. By investing in silver, you not only diversify your investment portfolio but also provide a hedge against potential economic downturns.
Pawn shops often have a variety of silver items, including coins, bars, and jewelry. These items are typically priced based on the current spot price of silver plus a small premium. When the silver spot price drops, as it did when I made my purchase, it presents an excellent opportunity to acquire silver at a lower cost.
Now, you might be wondering why I specifically mentioned 90% silver half-dollars. Well, these coins have an interesting history. Minted in the United States between 1892 and 1964, they contain 90% silver and 10% copper. Not only do they have intrinsic value due to their silver content, but they also have numismatic value, meaning they can be worth more than their silver weight alone.
When purchasing silver coins, it’s essential to look for reputable dealers or pawn shops that offer fair prices. It’s also a good idea to do your research and understand the current spot price of silver. By being informed, you can make wise investment decisions and potentially save some money.
My 2 Cents
Investing in precious metals like silver can be a smart move to diversify your investment portfolio and provide a hedge against economic uncertainty. By keeping an eye on the silver spot price and taking advantage of opportunities like purchasing 90% silver half-dollars at a pawn shop, you can make silver investing more affordable and potentially increase your returns. Just remember to do your due diligence and buy from reputable sources. Happy investing!