What Are Junk Silver Coins?
Junk Silver Coins Overview
Simply put, junk silver coins have very little numismatic value and are typically only valued on their silver content or by their face value. The majority of collectors search for 90% junk silver. A good rule of thumb when looking for silver coins is to find dimes, quarters, half dollars, and dollars minted prior to 1965. Some collectors will also collect 40% silver coins such as half dollars minted between 1965-1968. Below is a chart that outlines the amount of silver per coin for 90% silver coins. To find the silver “melt” value of your coin simply multiply the daily silver spot price by the ounces. For instance, if you have a Morgan Dollar and today’s spot price is $15, you multiply $15 x .77344 = $11.60. The melt value of your Morgan Dollar would be $11.60.
Ounces of Silver Per Coin
|
Name of Coin
|
Years Struck
|
Ounces of Silver
per Coin |
|
1878-1904, 1921
|
.77344
|
|
|
1921-1935
|
.77344
|
|
|
1916-1947
|
.36169
|
|
|
1948-1963
|
.36169
|
|
|
Kennedy Silver Half Dollar
|
1964
|
.36169
|
|
Washington Silver Quarter
|
1932-1964
|
.18084
|
|
Mercury Silver Dime
|
1916-1945
|
.07234
|
|
Roosevelt Silver Dime
|
1946-1964
|
.07234
|
|
Jefferson Silver Nickel
|
1942-1945
|
.05626
|
$1,000 Silver Bags
Many dealers create bags that contain $1,000 in face value of 90% junk silver coins. These bags can contain any variety of 90% silver coins that total $1,000 in face value and, regardless of which denominations are in the bag, each bag contains 715 ounces of silver. Most collectors prefer to have bags of a single denomination – such as a $1,000 bag of quarters.
As you can imagine, a $1,000 face value bag of 90% junk silver coins is very expensive! To open this up to everyone, many dealers will sell bags with smaller face values – sometimes as small as $5 or $10 in face value.