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Junk Silver Coins





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"Junk silver coins" is a term used in the bullion market for old circulated silver coins minted in the United States, Canada, and many other Countries.




Why are these coins called Junk?



junk silver bag

It sounds odd to call old silver coins "Junk," but most of these coins are categorized as 'junk' because they have been in circulation for a long time and are in very poor condition.

Junk silver coins generally hold no numismatic value or collector's premium beyond their intrinsic value, which is determined by their weight in silver.




Gresham's Law




[Gresham's Law]: Bad money drives out good money. - Thomas Gresham

"Gresham's Law" - named after Sir Thomas Gresham (1519–1579).

In the 1960s, the Coinage Act of 1965 was implemented in the United States to address coin shortages caused by rising silver prices. The law eliminated silver from dimes and quarters.

From 1965 to 1970, the silver content in the half dollar was reduced from 90% to 40%; after 1970, the silver content in all half dollars was eliminated.

The reason junk silver coins are rarely found in circulation today is due to "Gresham's Law." People who recognize that the silver content in pre-1965 coins is worth more than their face value tend to keep these coins. Additionally, dealers often collect them to sell as junk silver.







U.S. Junk Silver Coins
Weight (oz.) & Percentage  



          Years            Description                         %               Troy oz

•  1942-1945 (War-Time) nickel............

•  1892-1916 Barber dime....................

•  1916-1945 Mercury dime..................

•  1946-1964 Roosevelt dime................

•  1892-1916 Barber quarter.................

•  1916-1930 Standing Liberty quarter...

•  1932-1964 Washington quarter..........

•  1892-1915 Barber half dollar..............

•  1916-1947 Walking Liberty half dollar..

•  1948-1963 Franklin half dollar............

•  1964 Kennedy half dollar...................

•  1965-1970 Kennedy half dollar...........

•  1878-1921 Morgan dollar...................

•  1921-1935 Peace dollar.....................

•  1971-1974 Eisenhower Silver Dollar ∙ Eagle flying over the moon holding an olive branch; tribute to the Apollo 11 mission: (total weight 24.59 gr) .......only with "S" mint mark.......... 

•  1975-1976 Eisenhower Silver Dollar ∙ Bicentennial design with the Liberty Bell in front of the moon (all dated 1776-1976):(total weight 24.59 gr) .......only with "S" mint mark..........

•  35%

•  90%

•  90%

•  90%

•  90%

•  90%

•  90%

•  90%

•  90%

•  90%

•  90%

•  40%

•  90%

•  90%




•  40%



•  40%

•  .0563

•  .0723

•  .0723

•  .0723

•  .1808

•  .1808

•  .1808

•  .36169

•  .36169

•  .36169

•  .36169

•  .14789

•  .77343

•  .77343




•  .31627



•  .31627

Please Note: The Eisenhower Silver Dollar coins minted at the San Francisco Mint in 1971, 1972, 1973, 1974, and 1976, were either uncirculated or proof coins and bore the San Francisco Mint's mark of "S" under President Eisenhower's neck.




Calculating the Price of
Junk Silver
Coins



In regards to junk silver coins, a coin's intrinsic value is determined by what it consists of and how much it weighs. 

Note: 1 Troy oz = 31.10 grams

A silver dime weighs:

  • 2.25 grams / .0723 oz. (2.25 ÷ 31.10 = .0723 troy oz.)

To figure out the intrinsic value of a dime made of silver:


Silver per Troy Oz. (ozt.)




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U.S.
"Junk Silver Coins"


Note: Mintage Figures do not include proof mintages.






FIVE CENTS




1942 - 1945 : War-Time Nickel


Face Value:..............FIVE CENTS

Total Weight:............5 grams

Purity.......................35% / 0.3500 silver

Silver Weight............1.75 grams / .0563 ozt.

Metal Composition:...35% silver, 56% copper, 9% manganese

Circulated Mintage:...869,896,100

Designer:.................Felix 0. Schlag

War-Time Nickles were minted from 35% silver, 56% copper, and 9% manganese during WWII, from 1942 to 1945, to conserve nickel for the war effort.

Nickel is an industrial metal needed to manufacture ammunition, tank armor, and aircraft parts; to ration nickel, during the war, the United States Government made nickels without any nickel.





ONE DIME




1892 - 1916 : Liberty Head "Barber" Dime


Face Value:..............ONE DIME

Total Weight:............2.50 grams

Purity.......................90% / 0.900 silver

Silver Weight............2.25 grams / .0723 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...504,317,075

Designer:.................Charles E. Barber









1916 - 1945 : Winged Liberty Head
(Mercury) Dime


Face Value:..............ONE DIME

Total Weight:............2.50 grams

Purity.......................90% / 0.900 silver

Silver Weight............2.25 grams / .0723 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...2,677,153,880

Designer:.................Adolph A. Weinman





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1946 - 1964 : Roosevelt Dime


Face Value:..............ONE DIME

Total Weight:............2.50 grams

Purity.......................90% / 0.900 silver

Silver Weight............2.25 grams / .0723 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...6,595,617,673

Designer:.................John R. Sinnock





QUARTER DOLLAR




1892 - 1916 : Liberty Head "Barber" Quarter


Face Value:..............QUARTER DOLLAR

Total Weight:............6.25 grams

Purity.......................90% / 0.900 silver

Silver Weight............5.63 grams / .1808 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...264,670,880

Designer:.................Charles E. Barber









1916 - 1930 : Standing Liberty Quarter


Face Value:..............QUARTER DOLLAR

Total Weight:............6.25 grams

Purity.......................90% / 0.900 silver

Silver Weight............5.63 grams / .1808 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...226,769,600

Designer:.................Hermon A. MacNeil





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1932 - 1964 : Washington Quarter


Face Value:..............QUARTER DOLLAR

Total Weight:............6.25 grams

Purity.......................90% / 0.900 silver

Silver Weight............5.63 grams / .1808 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...3,780,077,001

Designer:.................John Flanagan





HALF DOLLAR




1892 - 1915 : Liberty Head "Barber"
Half Dollar


Face Value:..............HALF DOLLAR

Total Weight:............12.50 grams

Purity.......................90% / 0.900 silver

Silver Weight............11.25 grams / .36169 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...135,916,889

Designer:.................Charles E. Barber









1916 - 1947 : Walking Liberty Half Dollar


Face Value:..............HALF DOLLAR

Total Weight:............12.50 grams

Purity.......................90% / 0.900 silver

Silver Weight............11.25 grams / .36169 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...485,320,340

Designer:.................Adolph A. Weinman









1948 - 1963 : Franklin Half Dollar


Face Value:..............HALF DOLLAR

Total Weight:............12.50 grams

Purity.......................90% / 0.900 silver

Silver Weight............11.25 grams / .36169 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...465,814,455

Designer:.................John R. Sinnock





Learn more from our

Junk Silver Buying Guide




1964 : Kennedy Half Dollar


Face Value:..............HALF DOLLAR

Total Weight:............12.50 grams

Purity.......................90% / 0.900 silver

Silver Weight............11.25 grams / .36169 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...429,509,450

Designer:.................Gilroy Roberts (obverse); Frank Gasparro (reverse)









1965 - 1970 : Kennedy Half Dollar


Face Value:..............HALF DOLLAR

Total Weight:............11.50 grams

Purity.......................40% / 0.400 silver

Silver Weight............4.60 grams / .14789 ozt.

Metal Composition:...40% silver, 60% copper

Circulated Mintage:...848,895,006

Designer:.................Gilroy Roberts (obverse); Frank Gasparro (reverse)





ONE DOLLAR




1878 - 1921 : Morgan Dollar


Face Value:..............ONE DOLLAR

Total Weight:............26.73 grams

Purity.......................90% / 0.900 silver

Silver Weight............24.057 grams / .77343 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...656,989,387

Designer:.................George T. Morgan









1921 - 1935 : Peace Dollar


Face Value:..............ONE DOLLAR

Total Weight:............26.73 grams

Purity.......................90% / 0.900 silver

Silver Weight............24.057 grams / .77343 ozt.

Metal Composition:...90% silver, 10% copper

Circulated Mintage:...191,028,756

Designer:.................Anthony DeFrancisci






Learn more about these coins from this guide's

Junk Silver Buying Guide




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