Published: The Silver Dime. Also, newbie guide to Silver

The Silver Dime is now available on Amazon!

Summary:

Ronnie Dutch Marks goes to ChinaWorld with one of his classmates, Bernie Ben Mankey, to purchase some candy. When they both present their dimes, Ronnie's silver dime purchases more candies pieces than Bernie's copper dime. A valuable lesson about the intrinsic value of precious metals!

I hope those who read the book will be encouraged to look more into precious metals. This is just a stepping stone into a very complex but interesting point on the intrinsic value of silver.

Did you know?

•  Dimes and Quarters were 90% pure silver up till 1964?
• Between 1942 - 1945 Nickels were 35% silver?
• Half dollars were 90% silver until 1964. Then between 1965-1970 they were 40% silver (clad). 
• 1 silver dime back in the 1800s could buy a loaf of bread. Today, that same silver dime can buy a loaf of bread.
• Today, silver is used in A LOT of our everyday items including batteries, computers, cameras, jewelry, mirrors, water purification, cars, pharmaceutical purposes (like X-rays), American Silver Eagles and other 1 oz collectable coins, etc...
• It cannot be created
• No one knows how much silver is left on the earth.
• There is an increasing demand for silver. 

I think I might be interested in this silver stuff...

Really? Well, since you're still here reading, let me give you some advice: Do some research. Read, read, and read some more. Read articles on the internet, read books, ask your elders, talk to others who have shown interest in the topic.

Recommended Books

These are a few books I read and really enjoyed. I'd recommend reading them to get a head-start into what silver / gold are and get a little background on the markets.

• The Silver Bomb: The End Of Paper Wealth Is Upon Us  by Michael MacDonald
• Crash Proof 2.0: How to Profit From the Economic Collapse by Peter Schiff 
• The Silver Dime by Joy McKemy

They both go into gold / silver and explain it. Michael MacDonald is one I highly recommend. He goes through the origins of precious metals to how we got to where we are today with our currencies. A very interesting read. Read the book in one day. Peter Schiff focuses more on the markets than the actual history and, as you can probably tell from the title, how to prepare yourself. And finally, Joy McKemy's book is an excellent book that illustrates the intrinsic value of a silver dime verses a copper dime and how the silver dime possess more purchasing power than the copper dime (and who wouldn't recommend their own book?)

There are articles and YouTube people too whom you can listen to concerning silver / Gold. I highly recommend YouTubing Ron Paul and Ben Bernanke.

What to Buy...

That is completely up to you as it depends on why you are buying. If you are buying because you are just wanting silver, then I'd go for silver rounds or junk silver (90% silver coins). The American Buffalo 1 oz silver coin is the most popular and cheapest way to buy silver as it has the lowest premium.

If you are wanting to collect and bet against the coin going up in value, then I'd go more for ASE (American Silver Eagles). You pay a higher premium though for these coins.

There are other coins out there too such as the Silver Maple Leaf and Silver Philharmonic. There are plenty of other silver coins too (Silver Year of the _______ coins, Silver Chinese Panda, etc). Once again, these coins will have a higher premium verses silver rounds.

 
Where to Buy...

If you have done your research and think it'd be fun to buy (or invest) in some silver, I can recommend a few site to purchase from:

•  Gainesville Coins
• Local pawn shops 

Gainesville Coins has proven to be one of the most competitive places to buy any precious metals on the market. They have a wide selection and offer great deals and discounts. They also allow bank wires up on orders that are above $3,000 (so you don't get hit with a %2.5 credit card fee). I have always found it best to order with other people that way you can reach that minumin and save money.

*Preservation of Wealth is the cheapest online coin dealer I have yet to run across. However, there is a catch: You have to be a member in order to buy their metals. The membership fee is $250 dollars (ouch) so I'd seriously do some calculating on how much you think  you will buy before signing up. They also offer a business side to being a member. The more people you recruit to join, the more money you earn. So if you're a good  sales person or think you'll buy a lot of silver to cover the difference, than I'd g for it. If you think you'll just buy a few coins, then go for Gainesville coins. 
Rather upset with Preservation of Wealth. I had placed an order on the 22nd of February and have yet to receive it [ 3/26/2013] I would be freaking out if I did not know people who had used this site to order, but come on, over a month and have yet to receive an email that the order has been shipped? Sorry, but I highly recommend you order from Gainesville Coins. I have always received my orders in a very timely manner and they shipped it out on the date they stated the order would be shipped.

Local pawn shops are going to be your most expensive place to buy. They will most likely charge you a higher premium to buy silver / gold than an online store due to them having to pay for rent / electricity / etc. for that building space. However, if you are looking just for junk silver (dimes / quarters / half dollars) than this might be the place for you. Just make sure you check the market spot price before going shopping so you don't get ripped off.
Wanted to add that pawn shops do vary in price place-to-place as they are private, small businesses. Your local pawn shop may have lower premiums on their silver than other pawn shops. It pays to do some research on your own and visit your local pawn shops. 
My advice on pawn shops: I would only buy silver from them if I was just looking to buy a few pieces and they weren't charging more than $4-$5 dollars over spot price. If you're planning on spending a couple hundred dollars on silver, your best bet would most likely be ordering online.

Final Words 

Please note: I do not recommend buying silver or gold without really reading and thinking about the risks of investing. I have only provided the information above so that people who are looking for starting places can use this information as a guide. 

Please feel free to comment or email me if you have any questions or suggestions. I'd love to hear where you buy your silver and possibly adding that spot on this blog!