I guess to start off with the definition of 'junk' need some clarity. For all intents and purposes 'junk' will refer to any precious metal that is not .999 pure or that of govt issue (allows for silver and gold coins). Basically leaves chain, rings, pins, flatware, etc.
Not sure of other people's beliefs, however I do not feel that junk silver is something you should hold onto an a hedge again inflation and wealth preservation, as people do with other precious metals.
Sorry, the guy with the American Gold Buffalos or Canadian Silver Maple Leafs is going to the head of the line over the person with Grandma's silverware.
To what point or where does it begin when the value of 'junk' PMs work conversely against the market? For example, if silver goes to $50, just imagine the amount of .999 pure bullion that is going to be offered up by those who stack. Pretty confident in saying that most buyers will not even look at 'junk' or they will offer such a ridiculously low amount on (meaning less than half) the melt value.
I did not start stacking until after the PMs highs of 2011, so I have no means of finding out what was going on with the 'junk' PM market.
A little insight would be great.