Junk Silver is a commonly used name for coinage that contained 90% silver that was in circulation in the United States prior to 1965. Buying Junk Silver is a one of the best and most affordable ways to grow your investment in precious metals.
The term “Junk Silver” is broad term that includes any government issued coinage that was in circulation containing silver that has no numismatic value to coin collectors. It is collected only for the silver content that it contains.
Even though junk silver coins were circulated and might be worn, they still contain a significant amount of silver, which has intrinsic value. Junk silver is a tangible asset and as the spot price of silver fluctuates, the value of junk silver changes accordingly. Many investors appreciate having an investment they can physically hold, as opposed to intangible assets or paper investments.
Junk silver coins, being smaller denominations, can also be used as a sort of “fractional silver,” allowing for more flexibility if you ever need to sell or trade in small amounts.
Some people believe that in extreme economic crises, junk silver might be an effective tool for bartering due to its recognized silver content and divisible nature. For those looking to start investing in silver without a large upfront cost, junk silver can be an affordable entry point. It often carries a lower premium over the spot price of silver compared to newly minted silver bullion coins.
In the United States, coinage that contained 90% silver was in circulation prior to 1965. Coins containing 90% Silver were minted by the US Mint. The coinage included dimes, quarters, half-dollars and one-dollar coins. During World War 2, some nickels were minted with 35% silver alloy as well.
Buying Junk Silver at or Below Spot Price
Silver investors flock to junk silver because it is often available at or close to silver spot price and can be found with little to no premium.
Although millions of coins containing silver were minted by the US Mint, these silver coins have not been minted for more than 50 years. There is a limited supply of junk silver available.
The most common types of junk silver available on the market today is described below. The values are based on a silver spot price around $16.35 on April 30, 2018.
| Coin | Years Minted | Silver Content | Total Weight | Silver Weight | Approximate Melt Value |
|---|---|---|---|---|---|
| Junk Nickels | |||||
| Jefferson “War Nickels” | 1942-1945 | 35% | 5 grams | 1.75 grams (0.0563 troy ounces) | $0.92 per coin |
| Junk Dimes | |||||
| Liberty Head “Barber Dime” | 1892-1916 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $1.18 per coin |
| Winged Liberty “Mercury Dime” | 1916-1945 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $1.18 per coin |
| Roosevelt Dime | 1946-1964 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $1.18 per coin |
| Junk Quarters | |||||
| Liberty Head “Barber Quarter” | 1892-1916 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $2.96 per coin |
| Standing Liberty Quarter | 1916-1930 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $2.96 per coin |
| Washington Quarter | 1932-1964 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $2.96 per coin |
| Half Dollars | |||||
| Walking Liberty | 1916-1947 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $5.92 per coin |
| Franklin | 1948-1963 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $5.92 per coin |
| Kennedy | 1964 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $5.92 per coin |
| Kennedy | 1964-1969 | .40 | 12.5 | 5 grams (.148 troy ounces) | $2.42 per coin |
| Dollars | |||||
| Morgan Dollar | 1878-1921 | .90 | 26.73 | 24.06 grams (.773 troy ounces) | $12.66 per coin |
| Peace Dollar | 1921-1935 | .90 | 26.73 | 24.06 grams (.773 troy ounces) | $12.66 per coin |
The best junk silver for investment
Some junk silver coins have numismatic value to collectors and will carry a higher premium over spot. These are typically early minted coins such as Liberty Head and Mercury Dimes, Liberty Head and Standing Liberty Quarters and Walking Liberty Half-Dollars. Morgan dollars and Peace dollars will also carry a fairly high premium over spot price.
The junk silver coins that will be available at or close to spot price will be those that had high circulations and were minted during the later years of the time when coinage was minted with 90% silver. Those include Roosevelt Dimes, Washington Quarters, Franklin and Kennedy Half-Dollars.
When the minting of these coins was changed to copper clad in 1965 many collectors hoarded and saved the coins containing 90% silver as a way to hold and store the precious metals content.
