In what might as well be a weekly update on precious metals, silver surged from $67.10 an ounce a week ago to a record-breaking $79.27 per ounce at yesterday’s close (Friday, Dec. 26). That’s an increase of $12.17, or 19 percent in one week. More than half of that gain came on Friday, when silver jumped $7.43.
This is not only a record price, but a record single-day jump. It also means silver is up 160 percent year-to-date.
Gold was also up, although nowhere near as much in percentage terms. It closed a $4,533, up about $200 or 5 percent for the week.
How Much is Your Junk Silver Worth?
If you own junk silver (pre-1965 U.S. silver coins) they are now worth about $57 face value, based on the amount of silver in each one. Just bear in mind that you might have trouble finding someone to pay you that much. According to Coin Melt Values, junk silver coins now contain silver worth this much:
One dime: $5.73
A roll of dimes: $286.50
One quarter: $14.33
A roll of quarters: $573.20
One half dollar: $28.66
A roll of half dollars: $573.20
A silver dollar: $61.28
I remember buying two rolls of half dollars four years ago for $200 each. I wrote about it on Dec. 21, 2021. Those coins are now worth about three times as much.
Keep in mind, this was a short trading week because of Christmas, and silver may have jumped on Friday because many traders were on vacation. If so, it may pull back. On the other hand, it may have jumped because silver is trading for more than $80 on the Shanghai index.
The CME, where silver futures are traded, announced on Friday that it is raising margin requirements for silver contracts. This is expected to result in more volatility on Monday, the 29th, as some investors may be forced to liquidate some of their positions. Some folks would tell you this is the market’s (or the banks’) attempt to regain control of what appears to be a runaway silver pricing. I don’t think this change, the second such move this month, will have a lasting impact on the silver price.
Disclaimer
I am not a financial advisor, accountant, economist, tax professional, lawyer, or precious metals expert, so do not consider this or any other posts to be financial or legal advice. I am simply a well-educated prepper relaying my personal beliefs established over more than 30 years of prepping experience. Do your own research and consider consulting a financial professional to assist you with your investments and financial decisions.
