Atlanta Gold & Coin Buyers, Atlanta’s leading coin dealer, has announced that they’ve once again increased their rates on 90% silver coins to meet customer demand. 90% silver coins, also referred to as junk silver coins, are U.S. silver dimes, quarters and half dollars minted in 1964 and earlier. While some individuals also refer to U.S. silver dollars minted in 1935 and earlier as junk silver coins, since they’re bought and sold at a premium, the proper term for these coins in numismatic.
According to Tony Davis, owner of Atlanta Gold & Coin Buyers, the market for 90% silver coins has changed dramatically over the last six to nine months. “While 90% silver coins have always been in demand, primarily because they were the cheapest way to invest in silver bullion, that’s no longer the case. Premiums on these coins have increased by up to 5% over the past several months, and because of that, we’ve recently increased our silver coin buying rates to continue to meet demand.”
Strong demand for pre-1965 silver coins isn’t unprecedented. Similar demand and higher than usual premiums was also seen in 2008. Due to the recession, individuals were in search of a safe haven, and since silver bullion is one of the few investments that doesn’t have counterparty risk, it is viewed as a strong hedge against financial and economic crises. However, 2008 was considerably different than the current economic situation, as the stock market is at an all-time nominal high, the housing market appears to be on the mend, the unemployment rate is dropping and corporate earnings are meeting analysts’ forecasts.
Several reasons that may explain the current high demand for 90% silver coins are $1 trillion annual deficits, the upcoming debt ceiling issue, gridlock in Congress and the loose monetary policies of the Federal Reserve. Regardless of the reason, Atlanta Gold & Coin Buyers realizes that the market has changed for these coins, and have increased their buying rates accordingly. Contact Atlanta Gold & Coin Buyers today at 404-236-9744 to receive more for your silver dimes, quarters and half dollars.
