Junk Silver Coins | Silver Dollar

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"Circulated junk silver" is circulated American coinage made primarily prior to 1965, valued for its bullion content in silver, not for its numismatic value. These coins, which were formerly common money, are a tangible investment vehicle in the form of a metal such as silver. Superior among them are 90% silver dimes (Mercury and Roosevelt), quarters (Washington), and half dollars (Walking Liberty, Franklin, and the 1964 Kennedy).

In addition to the 90% silver coins, "War Nickels" (1942-1945) have 35% silver, and Kennedy half dollars of 1965-1970 are 40% silver. Although Peace and Morgan silver dollars do have greater silver content than this, their collectibility often makes them distinct from ordinary junk silver lots.

Although in circulated form, junk silver coins remain legal tender and are accepted globally as a result of their silver value. To both new and seasoned investors, they provide a sound means to acquire physical silver and introduce diversification to their portfolios.

Understanding 'Junk Silver': History, Types, and How to Spot It

To really get why junk silver is so important, let's dive into its story and what makes these coins special.

1.1. What Exactly is 'Junk Silver'? Clearing Up the Confusion

The term "junk silver" is simply a nickname used in the precious metals market. It describes U.S. dimes, quarters, and half-dollars minted before 1965, along with certain silver dollars that contain a significant amount of silver. The word "junk" doesn't mean they're worthless. Instead, it helps us tell them apart from rare coins that collectors pay high prices for because of their age, condition, or unique features.

The value of junk silver comes directly from the amount of silver inside each coin. This value changes with the daily junk silver price on the market, making these coins a straightforward and often affordable way to own physical silver. They are a practical choice for anyone interested in tangible assets.

1.2. A Look Back: When U.S. Coins Were Made of Silver

1965 was when America went through a monetary readjustment. Previously, dimes, half-dollars, and quarters were 90% silver. Financial strain during the 1960s, such as rising government expenditure, created inflation and a rise in the cost of silver. Thus, the value of the silver in coins was more than their face value, demonstrating Gresham's Law.

To counteract this, the 1965 Coinage Act stripped dimes and quarters of silver, eventually half-dollars. "Junk silver" is therefore a physical consequence of government monetary policy, vindicating the value of silver.

Pre-1965 coins contained 90% silver.
Silver became more valuable due to inflation.
The 1965 Act excluded silver from dimes/quarters.
Louis Carabini recognized this, buying silver coins.

1.3. Common Types of 'Junk Silver' and Their Silver Content

The world of junk silver coins includes several different types, each with its own history and silver purity:

The most common junk silver worth lies in 90% U.S. silver coins minted before 1965. This includes various designs of dimes, quarters, half-dollars, and silver dollars. Unlike some modern bullion coins like the American Silver Eagle, these older coins are 90% silver and 10% copper for durability. Interestingly, some proof sets from 1992-2010 from the United States Mint also contain 90% silver.
A transitional category when purchasing silver is the 40% U.S. silver coins, primarily Kennedy Half Dollars from 1965-1970. Certain Eisenhower Dollars from 1971-1978 also had 40% silver, mainly in proof versions, marking a brief period of reduced silver content in U.S. coinage.
Uniquely, "War Nickels" (1942-1945) contain 35% silver, 56% copper, and 9% manganese due to wartime nickel shortages, making them a distinct part of the junk silver worth and a piece of history.
Beyond the U.S., Canadian coins minted from 1920 to 1967, including dimes, quarters, half-dollars, and dollars, offer another avenue for purchasing silver with an 80% silver composition for those interested in international precious metal holdings.

1.4. How to Identify 'Junk Silver': Your Practical Guide

Identification of junk silver coins involves a few easy steps:

Looking for the Date: American dimes, quarters, half-dollars, and dollars prior to 1964, and those that are 1964 or older are generally 90% silver. Look for 40% silver in 1965-1970 Kennedy half-dollars and 35% silver in 1942-1945 War Nickels with a large back mint mark.
The Edge Test: A genuine silver coin will have an even silver or gray edge. New copper-nickel coins will have a layer of copper on the edge. This is a rapid identifier.
The Weight Test: Silver is heavier than new coin metals. A silver coin will be ever so slightly heavier than a new coin of the same dimensions. This test may be supplemented with a known silver coin.
The Sound Test ("Ping Test"): If dropped on a hard surface, silver coins make a distinct, ringing noise, unlike non-silver coins, which make a thud. This "ping" is typical of actual silver.

2. Why Invest in 'Junk Silver'?

So, why do so many investors choose junk silver? It offers some powerful benefits that make it a compelling part of a balanced investment plan.

2.1. Real Value You Can Hold: Intrinsic Value and Tangibility

Junk silver is constitutional silver worth its real value from the silver content, offering tangible security against paper holdings dependent upon economic choices. Throughout history, precious metals like silver have protected against inflation and uncertainty, acting as a "safe haven" and retaining long-term value, earning the title "honest money."

2.2. Easy to Start: Affordability and Accessibility

The relative affordability of junk silver, with premiums below bullion, is a good entry point for new investors. Its divisibility into smaller units allows staged investment without requiring big initial payments. It is an accessible entry into precious metals, less intimidating than more massive products.

2.3. Ready for Anything: Liquidity and Divisibility

Junk silver is liquid through easy buying and selling in the precious metal market. Divisibility allows it to be beneficial to practical uses in bartering, especially during economic turmoil or crisis. Having this two-in-one advantage is appealing to individuals with concerns about being prepared and owning physical possessions for the unforeseen.

2.4. Smart Portfolio Moves: Diversification and Growth Potential

Investment in junk silver, a form of silver coinage, diversifies investment portfolios because it's less sensitive to mainstream assets, thus less volatile during market downturns. Its value has appreciation potential, supported by industrial consumption and limited supply, offering both security and growth prospects. Collectors also value historic dollar coins, such as the Peace silver dollar. For those looking beyond U.S. silver coinage, the Canadian Silver Maple Leaf is a popular bullion coin.

2.5. Still Legal Tender: A Layer of Trust

While more valuable than their face value for their intrinsic content in silver, junk silver coins are still legal U.S. tender. While bought based on metal content, this introduces an element of psychological confidence, which may appeal to them as a "safe haven" vehicle, particularly for newer buyers.

3. Navigating the 'Junk Silver' Market: Pricing, Buying, and Storing

Ready to explore the market? This section gives you practical advice on understanding how junk silver is priced, where to buy it, and how to store it safely.

3.1. Understanding the 'Junk Silver Price': Spot Price and Premiums

The market price of junk silver is usually established by the active world silver "spot price" on the basis of supply, industrial and investment demand, economic conditions, and world circumstances.

Investors also have to factor in "premiums," which are dealer markups over the spot price. Premiums compensate for such things as coin condition, current demand, and dealer expenses. Most notably, premiums can leap significantly with intervals of strong demand that can render junk silver's affordability factor ineffective.

Junk silver price tracked the silver spot price.
There are added premiums by dealers.
High demand can increase premiums.

3.2. The "Face Value Bag" Concept and How to Calculate Silver Content

Junk silver is commonly bought and sold in "face value bags," with the $1,000 size being the most typical. These bags, containing various combinations of pre-1965 dimes, quarters, or half-dollars, generally hold about 715 net troy ounces of pure silver, accounting for circulation wear. Smaller bag sizes like $500, $250, and $100 face value are also available.

For individual 90% U.S. silver coins:

Dimes: Approximately 0.0715 troy ounces of silver.
Quarters: Approximately 0.17875 troy ounces of silver.
Half-Dollars: Approximately 0.3575 troy ounces of silver.
Silver Dollars: Approximately 0.7734 troy ounces of silver.

The value of a face value bag fluctuates with the silver spot price. For example, a $0.10 increase per ounce of silver would raise the value of a $1,000 face value bag by roughly $71.50. Understanding these bag sizes and the silver content of individual coins is crucial for investors to assess the amount of silver they are purchasing.

Here's a clear table to help you quickly see the silver content by face value for 90% U.S. silver coins:

Junk Silver Content by Face Value (90% U.S. Silver Coins)

Face Value	Approximate Net Silver Content (troy ounces)	Example Denominations for $1 Face Value
$1	0.715	10 dimes, 4 quarters, 2 half-dollars
$5	3.575	50 dimes, 20 quarters, 10 half-dollars
$100	71.5	1000 dimes, 400 quarters, 200 half-dollars
$250	178.75	2500 dimes, 1000 quarters, 500 half-dollars
$500	357.5	5000 dimes, 2000 quarters, 1000 half-dollars
$1,000	715	10000 dimes, 4000 quarters, 2000 half-dollars

3.3. Where to Find 'Junk Silver for Sale' and How to Sell It

The junk silver market is firm, bought and sold by precious metal shops (such as Bold), online retailers, and the occasional local coin store or auction company. Online retailers usually offer the best price and selection on silver products. Keep in mind that typical banks don't deal in junk silver.

It is as easy to sell, with most reputable online dealers having buyback programs at competitive market rates, irrespective of the initial point of purchase. This active secondary market improves junk silver liquidity.

3.4. Storing and Protecting Your 'Junk Silver'

Junk silver, for its metal value, is easier to store than stored coins. Plain forms such as rolls, canvas bags, or plastic tubes in a dry, cooler place are sufficient; slight tarnishing has no impact on melt value.

No airtight or special numismatic storage is necessary.
Rolls, bags, plastic tubes: storage is typical.
$1,000 FV bag (~55 lbs) is also repackable to make storage simpler.

Minimal maintenance storage results in junk silver's practicality and economy as an investment vehicle for those investors who most appreciate bullion content.

3.5. How 'Junk Silver' Compares to Other Silver Investments

Junk silver bars, prized for their silver content, simplify storage compared to collectibles. Basic methods suffice: rolls, canvas bags, or plastic tubes in a cool, dry place. Minor tarnishing doesn't affect its melt value.

Simpler storage needs than collectible coins.
Acceptable storage: rolls, bags, plastic tubes.
Tarnishing does not reduce melt value.

A $1,000 face value bag (around 55 lbs) can be repackaged for easier, discreet storage. This low-maintenance aspect enhances junk silver's practicality and affordability for bullion-focused investors.

Heavy bags can be divided for easier handling.
Convenient for investors prioritizing bullion value.

Understanding Junk Silver Pricing

The junk silver price is largely determined by the spot price of silver. Because these coins are 90% silver by weight, their value can be calculated using a simple formula:

Each $1 face value of 90% junk silver = approximately 0.715 troy ounces of silver.

Here’s a quick reference:

Face Value	Approx. Silver Weight
$1	0.715 oz
$10	7.15 oz
$100	71.5 oz
$500	357.5 oz
$1,000	715 oz

Because these coins were minted in high volumes, the supply is fairly consistent, but prices fluctuate with the silver market. At BOLD, we update our listings in real-time. giving you the best access to accurate junk silver prices.

Buy Junk Silver From BOLD

The 90%, 40%, and 35% US mint silver coins are great investment choices with equivalent collectible value. At BOLD, you can buy junk silver coins at the best prices seamlessly with our easy-to-navigate website and swift transaction system.

Our exquisite collection of junk silver for sale is curated with attention to detail. It can be bought with trust and confidence, validated by our 9+ years of precious metals experience and dedicated customer service team.

With our new Sell to Us feature, you can now sell your junk silver coins and other bullion products at their best market prices. Regardless of where you purchased them, we will have a price and save money! With BOLD, it's simple, swift, and transparent!