Homepage / Bullion Investment Basics: Junk Silver

Junk Silver Coins

A "junk silver coins" is a term used in the bullion market for old silver coins minted in the United States, Canada and many other Countries around the world.

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Why "Junk?"

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 generally in poor condition.

These silver coins have no numismatic value or a collector's premium, above the amount of silver contained within them.

In addition, dealers of junk silver coins, usually check the coins for any collectible coins, which is why few people find any real collectible coins in these coin lots.

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Gresham's Law

Junk Silver Coins are old pre-1965 circulated coins that Americans used to use in everyday life.

The Coinage Act of 1965 was signed in response to coin shortages caused by the rising price of silver in terms of a devaluing U.S. dollar, the shortage of silver coins in 1965 was blamed on "Gresham's Law."

Gresham's Law is a monetary principle stating that "bad money drives out good."

Money that has intrinsic value because it contains a precious metal will be over-valued and will leave the country or disappear from circulation due to hoarding.

While money that has no intrinsic value and is made of base metals or easily manufactured commodities is undervalued and will flood into circulation. - Sir Thomas Gresham (1519–1579)

After 1965, Gresham's Law was in full effect by Americans hoarding these old circulated silver coins.

Since 1970, after the last 40% Kennedy half dollars was minted, these silver coins have become increasingly harder to find.

Face Value vs. Intrinsic Value

The term "Face Value" is used Only in the terms of the Total Face Value of the Coins' themselves.

Examples:

10 dimes = Face Value of $1.00
200 half dollars = Face Value of $100.00
4000 quarters = Face Value of $1000.00

Junk Silver is often sold in bags of the Face Value's above. However, this is not the price you'll be paying when purchasing the coins; you'll be paying for the weight of the coins at Silver's Spot Price.

Face Value - a True Story

by Steven Warrenfeltz

The Silver Coin in the Story
- Obverse Side

About 15-years ago, I was at a gas station/convenience store in Northern Virginia to pay for items I wanted to purchase.

After I had handed the cashier a ten-dollar bill to pay for my items, I noticed that he grabbed a Morgan Silver dollar that was in the quarter tray of the cash register when he was giving me change.

I immediately knew what the coin was as he was about to put it in my hand, and I started to grin.

I could not hold the grin back because I have no poker face, and I knew the 'true' value of the coin he was about to give me for change.

He saw my grin as he was handing me the change, I couldn’t hold it back, and he took a second look at the Morgan Silver Dollar.

The Silver Coin in the Story
- Reverse Side

He looked at it and said "my mistake this is a dollar coin" (which is the 'Face Value' of Morgan silver dollar), as he started to grab a quarter and put the Morgan Silver Dollar back in the drawer, I told him “I’ll give you a dollar for it.”

He took my dollar and handed me the coin.

I got paid that day for going to that gas station/convenience store because the intrinsic value of the silver coin was then and still is, worth more than what I paid the cashier for my items.

Silver Spot Price

The spot price for silver, is the price for a troy ounce of silver.

Junk silver coins have a silver alloy content ranging from 35%, 40% and 90%.

When you are pricing "Junk Silver", try not to let the "Face Value" confuse you with the real 'intrinsic' value of the Silver contained within the Bullion Coins.

Click Here to learn more about buying Junk Silver Coins and the

practices of the Bullion Dealers who sell them.

U.S. "Junk Silver Coins"

Directly below is a list of U.S. "Junk Silver" bullion coins.

For each coin you will find a obverse and reverse photo, the coin's face value, total weight, purity, silver content, circulated mintage, and the name of the person who designed the coin.

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 oz.

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

Circulated Mintage:...869,896,100

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

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 oz.

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 oz.

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

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

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

1946 - 1964 : Roosevelt Dime

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

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

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

Silver Weight............2.25 grams / .0723 oz.

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 oz.

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 oz.

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

Circulated Mintage:...226,769,600

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

1932 - 1964 : Washington Quarter

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

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

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

Silver Weight............5.63 grams / .1808 oz.

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 oz.

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 oz.

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 oz.

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

Circulated Mintage:...465,814,455

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

1964 : Kennedy Half Dollar

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

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

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

Silver Weight............11.25 grams / .36169 oz.

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 oz.

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 oz.

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 oz.

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

Circulated Mintage:...191,028,756

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

U.S. Junk Silver Calculator

A website apply named 'Silver Coins' currently has the easiest to use Junk Silver Calculator, you can find it by 'Clicking this Link.'

If you want to Buy Junk Silver Coins, scroll down to see a list of reputable Affiliated Dealers who offer these coins.

Buy
Junk Silver Coins

from one of our Affiliated Dealer links below.

The Links below will take you directly to

the page described.

To See Customer Reviews on the Dealers listed below, click this link, then click the dealer's name.

BGASC
Junk Silver Coins page

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GMRgold
Junk Silver Coins page

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GoldenEagle Coins
90% Junk Silver Coins page

&

40% Junk Silver Coins page

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Money Metals Exchange
Junk Silver Coins page

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SD Bullion.com
90% Junk Silver Coins page

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SilverGoldBull
Junk Silver Coins page

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Notice

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