With the price of silver at a record high, 90% junk silver coins are among the most common investment items.
We get many questions about junk silver, and many people don’t know that they could be sitting on cash regarding their old coins.
Read below to find the answers to the most frequently asked questions about 90% junk silver coins.
What is junk silver?
Junk silver refers to U.S. coins with no numismatic or collectible value beyond their silver content. These coins are typically circulated and were minted before 1965, containing 90% silver. Common examples include pre-1965 dimes, quarters, half dollars, and dollars. Investors and collectors often purchase junk silver as a tangible asset and a hedge against inflation because the coins’ value is tied to the current market price of silver.
But, it can also include U.S. coins that contain 40% silver, like the Kennedy Half Dollar (1965-1970) and the Eisenhower Silver Dollar (1971-1978).
How do you know if a coin is 90% silver?
To determine if a coin is silver, you can start by checking the date and denomination. Dimes, quarters, and half dollars minted in 1964 or earlier typically comprise 90% silver, while half dollars produced between 1965 and 1970 contained 40% silver.
| Coin Type | Silver Purity | Silver Content (troy ounces) |
|---|---|---|
| Dime | 90% | 0.0715 |
| Quarter | 90% | 0.1787 |
| Half Dollar | 90% | 0.3575 |
| Half Dollar | 40% | 0.1479 |
Additionally, dollar coins such as Morgan and Peace’s dollars minted from 1878 to 1935 are 90% silver. However, each silver dollar contains 0.7735 troy ounces, slightly more than the others.
The dates are important because the U.S. Mint changed the metal composition of coins after specific years, reducing or eliminating the silver content.
Next, inspect the coin’s edge. Silver coins have a solid silver-colored edge without any discoloration.
In contrast, clad coins often show a distinctive copper stripe along the edge due to their composition. This visual cue can quickly help you identify whether a coin contains silver.
You can also use a magnet to test the coin. Silver is not magnetic, so if the coin is attracted to a magnet, it is not made of silver. This simple test can quickly rule out counterfeit or non-silver coins.
Silver coins produce a distinctive ringing sound when tapped gently with another coin or dropped onto a hard surface like wood. This ring is due to silver’s high density and acoustic properties. Coins made from other metals will have a duller, less resonant sound. The Sound Test or Ping Test is another method of testing the authenticity of silver coins.
If you’re still unsure, consider having the coin evaluated by a reputable coin dealer.
What U.S. Coins are 90% silver vs 40% silver?
The chart below lists all the U.S. coins that are 90% silver and 40% silver, including the years they were minted and the weight specification.
U.S. Silver Coins: 90% and 40% Silver Composition
| Coin Type | Silver Purity | Years Minted | Total Weight (g) | Silver Content (g) | Silver Content (troy oz) |
|---|---|---|---|---|---|
| Dimes | |||||
| – Barber Dime | 90% | 1892–1916 | 2.50 | 2.25 | 0.0723 |
| – Mercury Dime | 90% | 1916–1945 | 2.50 | 2.25 | 0.0723 |
| – Roosevelt Dime | 90% | 1946–1964 | 2.50 | 2.25 | 0.0723 |
| Quarters | |||||
| – Barber Quarter | 90% | 1892–1916 | 6.25 | 5.625 | 0.1808 |
| – Standing Liberty Quarter | 90% | 1916–1930 | 6.25 | 5.625 | 0.1808 |
| – Washington Quarter | 90% | 1932, 1934–1964 | 6.25 | 5.625 | 0.1808 |
| Half Dollars | |||||
| – Barber Half Dollar | 90% | 1892–1915 | 12.50 | 11.25 | 0.3617 |
| – Walking Liberty Half Dollar | 90% | 1916–1947 | 12.50 | 11.25 | 0.3617 |
| – Franklin Half Dollar | 90% | 1948–1963 | 12.50 | 11.25 | 0.3617 |
| – Kennedy Half Dollar | 90% | 1964 | 12.50 | 11.25 | 0.3617 |
| – Kennedy Half Dollar | 40% | 1965–1970 | 11.50 | 4.60 | 0.1479 |
| Silver Dollars | |||||
| – Morgan Dollar | 90% | 1878–1921 | 26.73 | 24.057 | 0.7735 |
| – Peace Dollar | 90% | 1921–1935 | 26.73 | 24.057 | 0.7735 |
| Eisenhower Dollar (Proof and Uncirculated Silver) | 40% | 1971–1974 & 1976 | 24.59 | 9.836 | 0.3161 |
| Bicentennial Quarter (Silver Proof and Uncirculated Sets) | 40% | 1976 | 5.75 | 2.30 | 0.0739 |
| Bicentennial Half Dollar | 40% | 1976 | 11.50 | 4.60 | 0.1479 |
| Bicentennial Eisenhower Dollar | 40% | 1976 | 24.59 | 9.836 | 0.3161 |
How do I sell my 90% silver coins?
To sell your junk silver coins, begin by determining their value. Calculate your coins’ total silver content and check their current spot price to understand their intrinsic worth. You can use online calculators or consult coin value guides for accurate valuations.
Next, organize your coins by separating them based on denomination and condition. This process helps identify coins that may have numismatic value beyond their silver content, which could significantly increase their overall worth.
Choose a place to sell that best suits your needs and local area. Coin shops are a reliable option where reputable dealers buy precious metals and can offer immediate payment. Bullion dealers, both local and online, specialize in silver purchases and might provide competitive prices.
If you prefer direct sales, consider online marketplaces like eBay or Craigslist, but exercise caution due to potential fees and scams. Attending coin shows can also be advantageous, as these events allow you to meet multiple dealers and compare offers in person.
It’s essential to get multiple quotes by comparing offers from different buyers to ensure you receive a fair price for your coins.
Once satisfied with an offer, complete the sale.
How much can I sell junk silver coins for?
The value of junk silver coins is primarily based on their silver content, also known as the “melt value.”
To estimate this value, you need to calculate the silver content of your coins. You can use the weights in the table above as a reference guide. Alternatively, you can use our silver coin value calculator by entering the quantity of each denomination.
For 90% silver coins, a dime contains approximately 0.0715 troy ounces of silver, a quarter contains about 0.1787 troy ounces, and a half dollar has roughly 0.3575 troy ounces of silver. For 40% silver half dollars, each coin contains approximately 0.1479 troy ounces of silver.
Next, check the current spot price of silver by visiting financial news websites or precious metal dealers’ sites, which provide real-time pricing. Once you have the silver content and the current spot price, you can compute the melt value by multiplying the silver content by the spot price.
It’s essential to consider dealer premiums when selling your coins. Dealers may offer slightly below the melt value to cover their costs and profit margin. For example, if silver is priced at $25 per troy ounce, the melt value of a 90% silver quarter would be approximately 0.1787 oz × $25 = $4.47.
Can I sell junk silver coins to the bank?
Most banks do not buy coins for their silver content. They may accept coins at face value for deposit, but this is not advisable for silver coins, as their melt value is significantly higher than their face value. It’s better to sell to coin dealers or precious metal buyers who will pay based on the silver content.
Is it illegal to melt junk silver coins?
The U.S. Mint’s regulations primarily prohibit the melting of pennies and nickels. It is legal in the United States to melt silver coins for their bullion content. However, laws and regulations can change, so it’s recommended to verify the current legal status before proceeding.