Junk Silver is a commonly used name for coinage containing 90% silver that was in circulation in the United States prior to 1965. Buying Junk Silver is one of the best and most affordable ways to grow your investment in precious metals.
The term “Junk Silver” is a broad term that includes any government-issued coinage that was in circulation and contains silver that has no numismatic value to coin collectors. It is collected only for its silver content.
Even though junk silver coins were circulated and might show signs of wear and tear, they still contain a significant amount of silver, which has intrinsic value. Junk silver is a tangible asset, and as the spot price fluctuates, its value changes accordingly. Many investors appreciate having an investment they can physically hold instead of intangible assets or paper investments.
Being smaller denominations, junk silver can also be used as “fractional silver,” allowing for more flexibility if you ever need to sell or trade in small amounts.
Due to its recognized silver content and divisible nature, it might be one of the most effective bartering tools for an extreme economic crises. It can also be an affordable entry point for those looking to start investing in silver without a significant upfront cost. Junk silver often carries a lower premium over the spot price of silver than newly minted silver bullion coins.
In the United States, coinage containing 90% silver was in circulation prior to 1965. The US Mint minted coins containing 90% Silver, including dimes, quarters, half-dollars, and one-dollar coins. During World War 2, some nickels were also minted with 35% silver alloy.
Buying at or Below 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.
These silver coins were minted over 50 years ago, and many have been melted down, leaving a limited supply of junk silver available today.
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 $29.62 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) | $1.67 |
| Silver Dimes | |||||
| Liberty Head “Barber Dime” | 1892-1916 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $2.13 |
| Winged Liberty “Mercury Dime” | 1916-1945 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $2.13 |
| Roosevelt Dime | 1946-1964 | .90 | 2.5 | 2.25 grams (.072 troy ounces) | $2.13 |
| Silver Quarters | |||||
| Liberty Head “Barber Quarter” | 1892-1916 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $5.36 |
| Standing Liberty Quarter | 1916-1930 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $5.36 |
| Washington Quarter | 1932-1964 | .90 | 6.25 | 5.625 grams (.181 troy ounces) | $5.36 |
| Silver Half Dollars | |||||
| 90% Walking Liberty | 1916-1947 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $10.72 |
| 90% Franklin | 1948-1963 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $10.72 |
| 90% Kennedy | 1964 | .90 | 12.5 | 11.25 grams (.362 troy ounces) | $10.72 |
| 40% Kennedy | 1965-1969 | .40 | 12.5 | 5 grams (.148 troy ounces) | $4.38 |
| Silver Dollars | |||||
| Morgan Dollar | 1878-1921 | .90 | 26.73 | 24.06 grams (.773 troy ounces) | $22.9 |
| Peace Dollar | 1921-1935 | .90 | 26.73 | 24.06 grams (.773 troy ounces) | $22.9 |
The best junk silver for investment
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.
When the minting of these coins was changed to copper-clad in 1965, many collectors hoarded and saved the coins containing 90% silver to hold and store the precious metals content.