The term “junk silver” is used to describe silver jewelry and coins that don’t have collectible or numismatic value. Although these pieces aren’t usually as valuable as rare coins, they do have intrinsic value based on their silver content. For example, 90% junk silver coins can be sold for their 90% silver content.
What Coins Are Considered Junk Silver?
The most common junk silver coins were minted in the U.S. in 1964 and earlier, although several other types of coins are also classified as junk silver. This category includes the following coins:
– U.S. dimes, quarters, and half-dollars made before 1965 (90% silver content)
– Canadian dimes, quarters, half-dollars, and dollar coins made before 1967 (80% silver content)
– Kennedy half-dollars minted between 1965 and 1970 (40% silver content)
– Silver war nickels made from 1942 to 1945 (35% silver content)
How Is the Value of Junk Silver Determined?
Precious metals such as silver are measured using a unit called a troy ounce, which weighs slightly more than a standard ounce, at 31.1 grams. For 90% silver coins, every dollar of their face value contains 0.715 troy ounces of pure silver. If an individual has $500 in silver coins with 90% silver content, they have about 357.5 ounces of silver. Silver prices change daily, but using an average price of $15 per ounce means that these so-called “junk” coins are worth about $5,262.50.
What Are the Benefits of Investing in Junk Silver?
Rare coin dealers and silver coin dealers alike sell junk silver coins, typically by the roll or by the bag, as well as by specific denomination, such as dimes, quarters and half-dollars. Many investors diversify their portfolio with junk silver for the following reasons:
– It comes in small amounts so it’s easy to trade, resell, and save, depending on the person’s investment strategy.
– Because these coins are legal tender, they will always be worth at least their face value, even if silver prices drop.
– Many individuals are familiar and comfortable with these coins versus other silver coin and bullion options, which may be less recognizable.
– The cost of purchasing silvercoins tends to be less than other silver coin and bullion options.
Those who are interested in rare coins or who have these coins to sell can trust the extensive industry knowledge and exceptional customer service provided by Atlanta Gold & Coin Buyers. Request an appointment at our Johns Creek location today. Out of state? Mail us coins for a fast and fair evaluation.