How I Got Into Silver/Gold Stacking
I follow here on Hive. Today he posted about how he got into stacking silver and Gold. His post was based on a prompt from
asking that very question. That got me thinking about how my own journey stated.
My first exposure to the concept of stacking silver was in grade school in the 1960's. Kids brought money to school to buy milk. The lunch lady collected their money and made change using a cupcake tin. One of my classmates always had money that his parents sent him to school with. He would exchange paper bills and 1965+ coins for any (pre-1965) 90% silver coins in the change tray, and bring those home to his parents...Gresham's Law in action :)
My father had a similar experience. Prior to the advent of Federal Reserve Notes, US paper currency was marked “silver certificate,” and was exchangeable for silver bullion at the mint. My father ate lunch at a diner where the owner would collect all the silver certificate notes, and 90% silver coins too. This gave my father the idea to do the same when he came across any. A one year period, June 1967 to 1968, was the final time to exchange silver certificates for silver bullion. My father drove us all from LA to San Francisco to cash in his paper currency for silver bullion at the Mint, but we missed the deadline :( It wasn't until years later that I learned that my parents kept their "junk silver" in a bag that was accessed by pulling out the bottom drawer in the kitchen cabinets. My father told me today that he still has it, but it has been moved.
My first foray into stacking occurred during the days preceding Y2K, when we feared that the entire monetary system would freeze-up as computers tried to handle 12/31/99 -> 01/01/00. After minimal research, I bought a bag of "junk silver" (90% US coins). But, even with all the experiences recounted above, it wasn’t until years later, around 2008, that I began to buy more junk silver and some gold too. I mostly bought at local coin shops, and still do. Recognizing the space constraints of 90% silver, I started to buy bars and rounds in the past few years. But, talk about space constraints, I also collect copper pennies (1982 and earlier) when I find them in my change. My reason for stacking hasn't changed...I'm still convinced the entire monetary system will collapse. I have never sold any silver or gold, and don't plan to.
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