Junk Silver is a commonly used name for coinage containing 90% silver that was in circulation in the United States prior to 1965. These coins have little to no numismatic value to coin collectors and are bought and sold for their silver content. Buying Junk Silver is one of the best and most affordable ways to grow your precious metals investment.
Since these coins are circulated, they typically show signs of wear and tear. However, they still contain a significant amount of silver, giving them intrinsic value. Junk silver is a tangible asset, and as the spot price fluctuates, its melt value changes accordingly. Many investors appreciate having an investment they can physically hold.
90% Fractional Silver
Being smaller denominations, junk silver is naturally fractionally by design. This allows for flexibility if you decide to sell or trade in small amounts.
It might be one of the most effective bartering tools for an extreme economic crises because of its widely recognized silver content. It can also be an affordable entry point for those looking to start investing in silver without a significant upfront cost. 90% silver circulated coins often carry a lower premium over the spot price of silver than newly minted bullion coins.
Common Types of U.S. Junk Silver Coins
90% Silver Coins
Prior to 1965, 90% silver coinage was in common circulation. The Founding Fathers specifically included silver and gold coinage in the Constitution because they recognized the intrinsic value of precious metals as stable, reliable stores of wealth. This was done intentionally to protect citizens from inflation and instability caused by fiat currency, ensuring economic freedom and stability for future generations.
Because of this, the US Mint issued dimes, quarters, half-dollars, and one-dollar coins in coin silver, a commonly used alloy around the world that contains a mix of 90% silver and 10% copper.
During some 20th century periods, the Mint has adjusted the metal content in coins based on various demands.
35% Silver Coins
During World War 2, the composition of the five-cent coin due to metal shortages. From 1942 until 1945, nickels were minted with 35% silver alloy. Keep in mind that these coins are very low purity, making the silver nickel value less desirable than those containing 90%. War nickels commonly trade close to their melt value.
40% Silver Coins
From 1965 until 1970, the Kennedy Half dollar coin was minted in a 40% silver alloy. These coins continue the same design as the 1964, but contain significantly less silver. 40% Kennedy Half Dollars typically trade for slightly above their melt value.
From 1971 until 1976, various collector issues of the Eisenhower $1 coin were issued in 40% silver. These coins were issued from the San Francisco Mint with the “S” mint mark so their easy to identify. Including a Bicentennial issue that also included a 40% Silver Quarter.
Buying Junk Silver at or Near the Spot Price
Silver investors flock to junk silver because it is often available at or close to the silver spot price. Deals are easy to find with little to no premium. During some market conditions, it’s possible to buy junk silver at spot price from some online dealers.
Below are described the most common types of junk silver available on the market today. The values are calculated with today’s silver spot price of $39.69 per ounce.
| Coin | Years Minted | Silver Content | Total Weight | Silver Weight | Approximate Melt Value |
|---|---|---|---|---|---|
| Silver Nickels | |||||
| Jefferson “War Nickels” | 1942-1945 | 35% | 5 grams | 1.75 grams (0.0563 troy ounces) | $2.23 |
| Silver Dimes | |||||
| Liberty Head “Barber Dime” | 1892-1916 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $2.86 |
| Winged Liberty “Mercury Dime” | 1916-1945 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $2.86 |
| Roosevelt Dime | 1946-1964 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $2.86 |
| Silver Quarters | |||||
| Liberty Head “Barber Quarter” | 1892-1916 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $7.18 |
| Standing Liberty Quarter | 1916-1930 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $7.18 |
| Washington Quarter | 1932-1964 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $7.18 |
| Silver Half Dollars | |||||
| 90% Walking Liberty | 1916-1947 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $14.37 |
| 90% Franklin | 1948-1963 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $14.37 |
| 90% Kennedy | 1964 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $14.37 |
| 40% Kennedy | 1965-1969 | .40 | 12.5 | 5 grams (.148 troy ounces) | $5.87 |
| Silver Dollars | |||||
| Morgan Dollar | 1878-1921 | .90 | 26.73 | 24.06 grams (.773 troy ounces) | $30.68 |
| Peace Dollar | 1921-1935 | .90 | 26.73 | 24.06 grams (.773 troy ounces) | $30.68 |
Best Junk Silver Coins for Investing Today
Some junk silver coins have numismatic value to collectors and will carry a higher premium over the spot price. 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 the spot price.
The junk silver coins that will be available at or close to spot price will be those with high circulations and were minted during the later years of coinage when it was minted with 90% silver. Those include Roosevelt Dimes, Washington Quarters, and Franklin and Kennedy Half-Dollars.
Collectors and investors began hoarding 90% silver coins for their silver value when the mint began issuing copper-clad in 1965.
