What is the “Gov’t. Issued 1965 Treasure Map” — Can You Find “Treasure Bags” in 776 Cities?

By Travis Johnson, Stock Gumshoe, January 16, 2011

How can you find sacks of treasure located around 776 cities around the country? That’s the pitch from Retirement Millionaire from Stansberry & Associates — the ad, which is one of those good ol’ video ads that doesn’t happen to link to a text version, even includes a “treasure map” of those cities around the country where you should be able to find this treasure.

In fact, Dr. David Eifrig says that 12 or 13 billion of these common coins were spread around the country, enough for everyone to have a sack full. There wasn’t anything rare or precious about the coins that became this “treasure”, but in the early 1960s with social programs and war spending in Vietnam some folks started hoarding and hiding these government-created silver coins — and it was a decision by President Lyndon Johnson to cease production of 90% pure silver coins that created what Eifrig calls this “bag of treasure” opportunity.

So, anyone still holding these treasure bags 45 years later would be sitting on a fortune. And Eifrig says that owning caches of these silver coins even now is one of the only ways to preserve your wealth — and even that we might go back to some kind of currency that’s backed by silver or gold in the future.

He also says that he’s created a map of the “hoarders” who will sell you the “treasure bags” for a “small premium” — those are the 776 locations on their “treasure map.”

So what are they talking about?

Well, I don’t know who the 776 “hoarders” are that Eifrig has identified — but it must be some sort of list of accredited or somehow endorsed coin dealers. Many coin shops will deal in these “treasure bags” of coins, though they’re more commonly referred to (not in this ad, of course — that would make it too easy for you to understand it without subscribing) as “junk silver”.

Yes, exactly the kind of thing I’ve written about any number of times — and I don’t want to bore you by repeating exactly what I’ve said before, so I’ll just tell you that these “treasure bags” are bags of beaten-up, culled coins (meaning, they have no collectible value because they were circulated and heavily used) from before 1965, the time when Lyndon Johnson did indeed take US coinage off the silver standard. Before that, going back a century or so at least, US dimes, quarters, half dollars and dollars were 90% silver — and in the years before (but especially after) the coinage changed, those coins were hoarded by folks who believed the “real” silver money was worth more than the new coins that were made mostly of copper and zinc.

These “treasure bags” of junk silver, as well as smaller caches (like a roll of old pre-1965 dimes, for example), are indeed available not just on ebay, but from many large coin dealers. This has historically been one of the easiest ways to own silver at a small premium to the melt value of those coins, and sometimes even at a discount when silver wasn’t perceived as the hot investment that it is seen as today (in part, I expect, since you’re not really allowed to actually melt down legal tender).

Each dollar worth of this pre-1965 currency had roughly .715 ounces of silver in it, whether that was four quarters or ten dimes, so the “treasure bags” are usually sold by face value — $1,000 bags, for example, have $1,000 in face value coins and therefore include roughly 715 ounces of silver, and so it would probably cost you a bit over $20,000 to buy this particular $1,000 worth of spare change. $100 bags represent about 71.5 ounces on average (all of this is making a global assumption about how much wear the coins have received and therefore how much silver has “worn off”, so they could all be slightly off if you actually melted down the coins). You can buy or sell junk silver through lots of dealers who have active web-based stores like the NWT Mint or APMEX, and also through many local coin dealers, who I assume are those “hoarders” in the “treasure map” that EIfrig references.

Of course, discovering an old cache of pre-1965 coins in your grandfather’s basement might make you rich overnight, whereas buying the “treasure bags” now just means you’re buying silver at perhaps a slightly lower price than you’d pay for a 100 ounce Johnson Mathey silver bar or a few rolls of American Eagle silver coins, so dramatic wealth from this silver would not be much different from dramatic wealth from any other physical silver investment that you could make right now — they would all depend in the silver price going up substantially from this point.

Which is possible, certainly. Heck, some pundits and newsletter writers will even go so far as to say it’s inevitable, given the current monetary policy and the continuing global debt and depreciation crisis, but you’ll have to use your own prognostications about silver to predict the wealth-protecting or wealth-generating impact of a “treasure bag” on your family’s fortune. Just keep in mind that there’s nothing magical about junk silver bags, they’re just possibly a little bit cheaper than many other forms of silver (and a bit more mysterious and exciting, perhaps, since you can still occasionally find a 1964 dime that’s worth two dollars in your pocket change). Buying silver right now at something near the spot price is speculating on the future value of that silver, not finding a “treasure” that’s currently worth far more than you paid.

I personally own some “junk silver” and I like to pick up a little bit when it looks relatively inexpensive from time to time, though I’ve never bought it by the bag or made it a substantial part of my investment strategy (and honestly, the premium on all physical silver investments right now, following the huge run in silver late last year, makes me a little nervous). If you want more detail on “junk silver” and this kind of investment in culled and hoarded coins, you can see my much longer commentary from when Dr. Eifrig pitched something very similar as a way to “buy silver for $2.08” last month.


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35 Comments on "What is the “Gov’t. Issued 1965 Treasure Map” — Can You Find “Treasure Bags” in 776 Cities?"

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Herach
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Herach
January 17, 2011 7:53 am
Buying silver coins, pre 1965, or American silver eagles is like buytng insurance. You hope circumstances do not evolve to justify your invesdtment. These circumstances take two forms. First a terrorist attack or a power failure where access to bank funds, atms cedit card utilization are halted and the other is continued degradation of the USD to the point of rapidly changing or extremey diminshed value—hyper inflation. Gold coins are another consideration, but how do you get change from a $2000. gold coin for a $500 purchase? Sivler coins are easily negotiable. Alternatively, you are making an investment in real… Read more »
jim bhav
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jim bhav
January 17, 2011 8:49 am

If everything tanks who will buy your silver at $500 an ounce?

jim bhav
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jim bhav
January 17, 2011 9:21 am

Really who will barter food and water for a coin in a collapse very few in my opinion

David
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David
July 10, 2012 7:22 am

You don’t have an informed opinion because you’ve never lived through hyperinflation. But think about it. If it takes a wheelbarrow full of $1000 bills to buy a loaf of bread, wouldn’t a merchant be willing to consider a genuine silver dime instead if that merchant happens to know the current price of silver? Would you rather try to trade one of your shotgun shells? What if he doesn’t have a shotgun?

hedy1234
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hedy1234
January 17, 2011 12:27 pm
If we have the kind of total collapse many are talking about it will be the wild west until it settles down. Folks will band together to protect and grow what they need. ____If the country is not taken over by outsiders as a result of our disarray we will have to start all over. Eventually, those things that seem to be precious since early times will be become precious again. Since there is a finite amount of Precious Metals they will retain value through all this. Keeping and protecting these items while at the same time surviving will be… Read more »
jim
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jim
January 17, 2011 1:19 pm

Hedy if USA collapses no other country will survive maybe China but I do not speak Chinese how about u

jim
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jim
January 17, 2011 3:12 pm

Hedy the arabs will drink their own oil Russia is 3rd world along with India and none of them will accept your defunct dollar but may take your silver coins. Did the emerging markets go up when us went down?

Gopher 67
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Gopher 67
January 17, 2011 4:00 pm

Sounds like a time to save bullets and seed and maybe keep a goat for milk

The Old Fashioned Way
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The Old Fashioned Way
January 17, 2011 5:36 pm
Lot’s of end-of-the-world speculation going on here today. How about we just pretend, for a little while longer if we can, that the U.S. won’t be destroyed in the next 3 months or so. Want to know about a “can’t miss” silver investment for 27,000 people? (Sounds like a teaser, doesn’t it? Don’t worry, I will give you the answer for free). Sometime later this year, probably in late March or early April, the U.S. Mint will sell 27,000 five-coin sets of America the Beautiful 5 ounce Uncirculated Silver Coins. These coins, which will be available on a first come,… Read more »
David
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David
July 10, 2012 7:39 am

Ironically, things made specifically for collectors never hold their value. Coin sets minted at the US mint are little more valuable than coin sets minted at the Franklin Mint if they were made specifically for collectors. Coins of the same design have to go into circulation and stay in circulation long enough to become popular before the uncirculateds become valuable.

Stone'sThrow
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Stone'sThrow
January 17, 2011 7:52 pm
A couple of thoughts– >Price Controls–while it is possible that the US could have some event that precipitates a very quick collapse, we are more likely (IMO) to see some tensions building first. Government response could be price controls to stabolize the market for essentials and decrease hoarding. I am old enough to remember Price Controls and rationing. This is why I own some (not a lot) of junk silver coins. Price Controls keep some goods off of the market but silver coins have a face value as legal tender and might be used to spice up your payment while… Read more »
Todd
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Todd
January 18, 2011 7:40 pm

What a parinoid thread this turned out to be….do you all live in caves?

David
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David
July 10, 2012 7:45 am

No, and we’d like to avoid that if possible, when the government meltdown comes. Government debt and monetary growth are both skyrocketing at unsustainable rates. If you’re not paranoid, you’re a fool.

Alan Harris
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Alan Harris
July 19, 2013 7:45 pm

Now thats what I call a paranoid statement !!

Stansberry CS
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Stansberry CS
February 10, 2012 9:37 am

If you have any questions about Stansberry and Associates, please do not hesitate to call customer service at 1-888-261-2693. We would be happy to assist you. We are open Monday – Friday 9-5 EST.

Steve
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Steve
August 16, 2012 6:17 pm

Great article that sparked a lot of questions in my mind (nice banter in the comments). I recently read the article below and it talked about bars, rounds and coins. However, it seems as though “junk silver” would be a much better choice in the event of a catastrophic event. It does seem as though it would be much easier to trade for goods. Collapse of the economy aside, anyone have any suggestions as to which is the best for a beginning investor?
http://cheapsilverbarsandrounds.com/purchasing-silver-rounds-bars-bullion/

Bill
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Bill
May 3, 2013 10:28 am
Well, it’s May of 2013 and the US hasn’t broken down into economic chaos. This BS has gone on for a good part of the last century and is again popular in this one. When Bill Cliniton was in office it was the same story. UN troops, black helicopters, gun seizures and martial law. The US is the largest economy in the world. Our GNP is the reason the economy will not collapse. Hell, idiots flew plains into one of the major financial centers in the WORLD and they were back up for business in less then a week. Tell… Read more »
robinsteel
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July 22, 2014 12:22 pm
I think that the dollar will lose “reserve status” because the USA is no longer respected as the “beacon of hope” that it was after two “good wars”…the dollar fell against the Euro, the day we invaded Iraq. I was in Europe at the time, and my hotel bill almost doubled over night…The rest of the world has begun to realize that we have squandered our good will by falling captive to a reactionary group of super rich parasites who can buy legislators and stifle innovation to keep up the status quo…and the money flow going their way…it is not… Read more »
jojo
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jojo
January 17, 2011 9:10 am

BARTER, my friend, is the key ;}

streek53
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streek53
January 17, 2011 8:36 pm

Perhaps an enlightened grocery store manager who'd take silver in trade.

sync
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sync
January 17, 2011 10:41 am

It's mostly for when the worst of the collapse is over and society begins to rebuild. A new currency is instituted and you preserved your wealth by holding PMs. You can now trade your PMs in for the new currency (or some other asset like real estate), unlike everyone else who held on to worthless FRNs.

hedy1234
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hedy1234
January 17, 2011 11:35 am

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JIM-When your "initial" supply of food, water, etc runs out (and it will) how do you see yourself replenishing your stock? who will have the supply and what will they want in exchange? Or will you have to take it from them………………..

jim
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jim
January 17, 2011 12:02 pm

Thats my point I do not think silver is the answer when the dollar is 5million to an ounce of silver am interested in your thoughts. Do we believe when a collapse occurs we will have a market for precious metals or even a barter for them the guy selling u his loaf of bread for a coin is also worried his loaves will run out. If sync is right then it makes some sense but how do u get through the calamity with a broke govt?

david
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david
January 17, 2011 2:10 pm
Now is the time. People just dont want to believe what is before their eyes. I have already left and settled on a ranch in a foreign land where the people and society are much more simple and "civilized" than the USA. But you will have to find out your own new home for yourself. I am tired of all my friends telling me I am crazy so I dont discuss it or give advice anymore. I am very happy here anyway so even if the end is not near I enjoy my new home already. The best to you… Read more »
hedy1234
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hedy1234
January 17, 2011 2:27 pm

Jim

You really have no basis for this statement.

Why wouldn't the Arab countries Survive?
Why wouldn't Russia, India survive?
Why would all the African countries not survive? South America?

You may be too US Centric. The "emerging markets" may do just fine

regee
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regee
January 17, 2011 4:44 pm

take this advice to the bank:stay away from the goats

dwarvesden
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dwarvesden
January 17, 2011 9:30 pm
Stones's: My guess is if you asked your friends in Argentina if their savings in gold/silver were wiped out,they would say no; those savings ultimately were worth more after the crises. And during the crises gold and silver had value, unlike their currency. If there is a monetary crises in the US with the dollar losing it's reserve status, other countries refusing to accept dollars, prices going thru the roof (in terms of US$) commodities and tangibles will hold their value. The question is in relationship to what.? Other fiat currencies will dramatically change in relation to each other, so… Read more »
Stone'sThrow
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Stone'sThrow
January 17, 2011 9:55 pm
dwarvsden: Your points are right on, my friend. My only point about gold coins in Argentina is really that at times (maybe when you needed them most) even trying to exchange gold coins for something else got you a lot of unwanted attention. Kidnapping or holding families at gunpoint was very possible if others even thought you had gold or wealth of any kind. Sure, the store of wealth that gold represents was still there but not always in useful form. Things like junk jewelery, common silver coin or US dollars (in Argentina) did not get you noticed since many… Read more »
Albert
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Albert
January 18, 2011 3:01 pm

Try Canada. Its a lot closer re the escape route and their currency is in fine shape backed up by a lot of natural resources. No problem finding a way across if the U.S. closes the border. Just find a forest area or a rowboat. Cheers.

mtguy
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mtguy
January 18, 2011 5:45 pm
I agree with you both. I'll also add that in times of chaos, your bullets are better used to fend off thieves and hunting, not for trading. Having supplies on hand that can last for months will prevent you from having to use the gold/silver or bullets as trade. When things settle down, you can come out from under your rock and you'll have money-equivalent PM's to buy things. If you bury a bunch of cash, well at least you have some fire starter or toilet paper. Have tradeable items, like liquor (not a good idea if you are a… Read more »
jbengfort
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jbengfort
January 19, 2011 12:47 pm

US centric? Well, China won't have a population of workers in 2 decades given their historic birthrate (an aborted or" infantacided" 1 per year. Russia is dying–literally: alcoholism, aids, no birthing, no health care network, Europe ?–their population is based on Islamic copulation and are headed South. South America–when is the next dictator due? Africa–Islam. However, I don't think we are doomed–just really lazy people waking up….and we will.

jbengfort
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jbengfort
January 19, 2011 12:49 pm

I thought that the Hong Kong cum Vancouver chinese now owned a country of 30 to 40 million people called Canada.

Newbie
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Newbie
January 19, 2011 2:58 pm

I agree to you, Todd.

Shirley
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Shirley
March 20, 2012 6:29 pm

David,
I don’t think you’re crazy at all. I’ve been in the process of finding my own foreign country to call home. Any advice you can give would be greatly appreciated. And don’t worry about any criticism as I’m not your “friend”…. :0)
~s

David
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David
July 10, 2012 7:47 am

Small shiny objects are best for barter.

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