It’s known as Gresham’s Law. Simply stated, it’s the principle that
Bad money drives out good. When governments issue overvalued money (e.g. fiat paper or base metal currency) with circulating sound money (e.g. gold or silver coinage), the sound money will disappear from circulation into hoards. Throughout history Gresham’s Law has been proven time and time again. Think about it. Have you ever wondered why you don’t usually find silver quarters in your change? Other things being equal, if you had the choice between a real silver quarter and a modern base metal quarter of lesser melt value, which one would you choose? Up until 1964 The United States had been using silver coins. After that the government began debasing coins by using essentially a pot metal composition of copper and nickel. These coins can’t even really be properly called
coins. In reality they’re just tokens. Since 1964 the metal value of silver coins has greatly exceeded the purchasing power. Most of the money in your pocket has been seriously debased. It’s
bad money. So how does one get on the good side of the deal by getting
good money? You could always buy Silver Eagles. While these are nice to have, they can carry high premiums-especially when you could get silver that’s still circulating for free.
Step 1: Get A Roll of Half Dollars From the Bank
Go to the bank and ask for a roll of half dollars. It might be best to go to a bank where you hold an account as some banks may charge for coin rolls. This will hurt your margin. Half dollar rolls have 20 coins for a $10.00 face value. You can get more than one at a time but don’t hoard outright and get more than a few. Don’t draw attention to what you’re doing. There’s no need to brag and show how smart you are by saying something stupid like,
Thanks for the free silver! You can also go to more than one bank and get a few rolls here and there. This can increase your chances of getting more silver and it’s pretty fun!
Step 2: Sort Out Any Silver Half Dollars
Take the rolls of half dollars to a private place and sort out any silver coins from the base metal coins. Here’s what you’re looking for:
|1916-1947 Silver Walking Liberty||90|
|1948-1963 Silver Franklin Half Dollar||90|
|1964 Silver Kennedy Half Dollar||90|
|1965-1970 Silver Kennedy Half Dollar||40|
Don’t worry if you strike out and don’t find any silver coins. You’ll get another shot.
Step 3: Return or Spend the Base Metal Half Dollars
Take all of the base metal half dollars and exchange them for cash. Most banks have coin machines and will allow you to use them for free or at a low cost if you hold an account. If you can’t do this, find a low cost coin machine or just use the coins the next time you buy something. No harm done. You can then use your cash to repeat the process-especially if you didn’t find any silver in previous rounds.
You Can’t Lose
It’s possible that you could get up to around 7.6 oz of free silver per roll. Even if you only found a single 1965-1970 Silver Kennedy Half Dollar you’d still be 4.6 grams richer in silver. The worst that could happen is you just break even and lose a little time. Check out Coinflation to see how you’re doing.
Half dollars are still pretty widely used in circulation but are often overlooked for their silver content. Most people are completely unaware of what they have, nor would they even care if you told them. Be it real money, real food or even real religion-sadly, most people have just lost touch with reality itself. Pray for them. In the meantime, let them keep the bad money and get the good money while you can.