Recollections as a kid and silver was real money

OldEastside

I was remembering this one time, my mom had to go into work on a Saturday
and catch up on some things, she worked at Diners Club in Century City in
Los Angeles, and I was about 9 at the time and she couln'dt find anyone to
watch me, so she took me with her, any how I got board and started roamin
around Century City, one of the things I did was checking phone booths for
change, back then in 1968 phone booths were everywhere especially in Century
City, anyways I hit the jackpot on one and found $1.95 all Silver quarters and
silver dimes or about $45.50 today acording to coinflation. BTW I did get grounded
for wandering off, but at least she did'nt tell my dad

Steve

KUCH

I remember, my father returning every Friday from a week of selling life insurance. We lived in the midwest and he would make sales calls on small business owners and farmers. He was a coin collector and would acquire some amazing pieces from these sources. (13 star half dime).

OPA

Back in the 50's, other than the cent or nickel, the rest of my change was in "real money," silver, and for a teenager making $.55 an hour, I got the same "buck for my dollar" as today's "non real money." Even an occasional silver dollar, did not give me additional buying power over a $1 bill.

curly

Back in 1963, I worked part time in a gas station to supplement my military pay. This was in Klamath Falls, Oregon. When the folks coming back from the casinos in Nevada stopped for gas, the first thing they wanted to do was to get rid of the silver dollars. We kept a bucket under the counter to hold all those dollars. When the bucket was full, it was my job to haul the dollars to the bank for deposit. I sure wish I knew then what I know now.

Coulport

When I was a youth, my folks owned a confectionery. During the summer when school was out it was my job to go to the business and turn on the grill, deep fryer and start the coffee. Additional tasks gave me a small allowance which I would exchange for the Barber coins and buffalo nickels that ended up in the till. I would eventually spend the silver coins on Christmas presents but did manage to keep my little herd of Buffs.

tneig

I remember holding one of each quarter back then, looking at them sideways.
Just imagine in 1964, someone telling you when you got older, that 1964 quarter would be worth !21! times its current value.
Just imagine in 1965, someone telling you when you got older, that 1965 quarter would be worth ?xx? times less its current value.

yellowkid

I've never been able to think of clad coinage as anything but junk.

streeter

I can remember accompanying my mom in the early 60's(61/2) to the art store to buy supplies and the elderly woman owner would let me pick through the change drawer. I got many 09-s, and a lot of 11-s cents for a cent exchange and my mom put ads in Coin World for me to trade for silver dollars which I promptly sold for $1.07 each to the local coin shop. Sure made that 25cent weekly allowance last longer. I wish I had more money because there were a lot of teens and 20's walkers in the drawer......and in good shape IIRC.

10-s, 12-s, 13-s cents weren't worth a few bucks in XF back then so they stayed in the drawer. Geesh was I shortsighted.

OPA

<< <i>I remember holding one of each quarter back then, looking at them sideways.
Just imagine in 1964, someone telling you when you got older, that 1964 quarter would be worth !21! times its current value.
Just imagine in 1965, someone telling you when you got older, that 1965 quarter would be worth ?xx? times less its current value. >>



Just imagine in 1964 or 65 someone telling you that the minimum wage would be $7.25 per hour in 2012 & the same job would pay you at least 8 x your 64 salary.

I should have saved more 64 quarters.

Spooly

Early 70's I remember telling my Dad that we should save all the silver coins. He told me silver is cheap....... it wouldn't be worth it! I wish I would have taken my own advice.

gsa1fan

I remember my daddy telling me these 1964 and earlier dimes,quarters, halfs, & dollars are silver. Some day they will be worth a bunch of money!

In 1979 I was a senior in high school. I cashed all my "silver" coins in for a bunch of $$

tneig

Slight divergence, but its making me think and it hurts.
When did the growth opportunity stop existing? Doesn't the same set of conditions exist right now? Don't we worry about every investment losing money now, and doesn't high gain possibility always invoke risk. Doesn't silver still have high potential?

If you buy a silver quarter at $5.25 (general today’s price), and silver goes up to $64per - then that is the same opp to make $5 more on each coin, as would have if you saved the quarter from 1964 (48 yrs).

The only time there was 'smaller risk' in this investment, was when you could get the 64 quarter then for .25cents.
-When $silver made the 64 quarter worth a $1, there was risk and apprehension of losing money and a question of gain.
-Same for when the 64 quarter was worth $2, there was risk and apprehension of losing money and a question of gain.
-And so on up to right now... Inflation adjust to now.

Therefore a same weighted 'set of risk conditions' exist. What's your risk vs reward profile? If silver hits $64 in a few years, and we look back at the short accelerated growth period just missed, what will we say...

OldEastside

Now your making my head hurt, and "inflation" is the key word here
So thinking about it, I don't really see a win situation here! for example
take that $1.95 in silver I found in that phone booth 44 years ago could
have bought maybe 10 gallons of gas then, and today at 44.50 value
about the same, allthough I can take my wife to our favorite Mexican
Restaurant and have our favorite dishes and a couple of pina collada's
& margaritas for about 44.50 minus tip today, I don't think we could
have had that same deal for 1.95 back in 1968.
So say Silver does hit 64/oz, then I'll bet gas will be 8/9 bucks a gallon
Milk will be 7/gal and those GENOUROUS interest rates of 0.33% will
probably be 0.000000033% and so on.

I'm gonna take some aspirin now

Steve