Full guide: http://www.jmbullion.com/ultimate-guide-to-90-silver-coins/ Born on March 8th, 1926, Billy Gene Lemons grew up in the tiny village of Ringgold, Texas. During World War II, he was drafted into the US Army and stationed in Munich, Germany. While in the army, he received medals of honor for distinguished service as a sharpshooter and marksman. He also achieved the rank of corporal, serving as a Military Policeman. While in Munich, he along with others, had the responsibility of guarding the headquarters of visiting dignitaries and VIPs who were there to oversee the occupation forces. One of those dignitaries was General George S. Patton. Corporal Lemons’ military stint was not the stuff of epic movies, but to his family and friends, he was a hero deserving of all the honor and respect due the men and women who served in World War II. Decades later, Billy loved telling his family the story of how the troops were instructed not to eat food given to them by the locals – for fear of being poisoned by Nazi sympathizers. On one occasion, while riding a troop train, a resident family of the occupied city had pitched a large chunk of cheese on the train in appreciation. As commanded, the soldiers were not going to eat it, but one man could not resist. He cut off a big piece and began to enjoy it. A few minutes later the train traveled into a tunnel. As it became pitch black, the same soldier screamed, “Damn it boys, don’t eat any of that cheese! I’ve gone blind!” The squad knew better, and had a big laugh as they came back into the sunlight. Billy Gene Lemons was my grandfather. In September 1990, my grandfather passed away as the result of a brain tumor. I was nine years old at the time. Among the many things left to my father were a variety of foreign and domestic currencies my grandfather had collected during his time in Europe and throughout his life. The currencies included German marks and an old bank bag containing approximately 100 half dollar Kennedys, most of which were from 1964, making them 90% silver. Billy Gene Lemons knew what most didn’t at the time, which I believe is illustrated in this quote. “Lenin was right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” – John Maynard Keynes (1883 – 1946), Economist Billy had been keeping every half dollar he got his hands on since the early 1970’s. First, because JFK was a great and short-lived US president, these coins would have historic value. Second, he collected them because he knew they were worth more than their face value due to the debasement of government-issued coinage throughout history. 90% Silver Over 25 Years According to a 25-year chart, the average price of silver was $8.73 an ounce in September of 1990. That would put a value of about $316 on my grandfather’s collection of Kennedy half dollars at the time of his passing. My father gifted those half dollars to me in 1995. A few years later, a thief would steal them all. I’d like to believe the thief ignorantly spent them for their face value of $50 instead of selling them for their silver content. After I realized they were gone, I was overcome with grief. It wasn’t until April 2011 that I realized their silver content. In 1999, I was devastated because of the loss of sentimental value in the collection, but in 2011 I was devastated by the financial loss due to the current spot value of silver. How much was lost? It was definitely not the $50 face value of 100 half dollar coins! The loss of value included the rise to $52.26 an ounce spot price of silver in April 2011. Those circulated, but good condition, coins contained approximately 36.2 troy ounces of silver, a metal value of $1,890 in April 2011. That doesn’t count the premium, which could have been as much as 5% on top of spot. Even in January 1980, when my grandfather was still alive, the inflation-adjusted melt value would have been $3,947. That’s not chump change! Before they were stolen, I didn’t have my grandfather there to yell at me for the stupid mistake of showing off our collection. That was an expensive and gut-wrenching lesson learned. What started as an inherited coin collection of sentimentality, ended with an understanding of the market value of 90% silver coins. Other than through inheritance, why would someone go out of their way to own 90% silver coins alongside or as an alternative to silver bullion? I’m glad you asked.
Visibility: 1525
Duration: 6m 55s
Rating: 32