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Overview
Before 1965, U.S. silver dimes and quarters were comprised of 90% silver and 10% copper. These worn coins are now generally sold in $1,000 silver bags, with “$1,000” referring to the the sum of the coins’ face values. Regardless of the mix of coins, $1,000 silver bags all have the same amount of silver, about 715 troy ounces.
These bags also come in half and quarter bags (i.e., $500 and $100 bags). Silver bags also can be purchased in 40% silver bags, but 90% silver bags are more common. In the trade, silver bags are sometimes referred to as “junk silver,” not because of the silver’s quality, but because the coins have been removed, “junked,” from circulation.
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Augusta cannot guarantee, and makes no representation, that any metals purchased by a customer will appreciate at all or appreciate sufficiently to make a profit, and there is no certainty that any metals can be sold for a profit. The future value of the coins you purchase cannot be predicted. You could lose money. Prices may rise and fall over time or rapidly. Past performance of any coin does not guarantee future results. All decisions regarding the purchase or sale of precious metals, including the decision of which precious metals to purchase or sell, are the customer's decision alone. Premium coins are sold for more than the value of the precious metal they contain. Augusta's prices and buy-back prices are determined and controlled by Augusta.This investment is speculative and unregulated.
Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.
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