Junk Silver Coins
Junk silver coins are one of the best and cheapest ways to own silver. These silver coins are usually cheaper than if you
buy silver coins
such as US silver eagles or Canadian Maple Leafs.
Types of Junk Coins – Buy Silver Coins.
Junk silver are US dimes, quarters and half dollars that are minted during or before 1964. They are 90% silver. However, the actual weight of silver is .715 troy ounces per dollars worth of coins. This is because a dollars worth of coins comes up to less than a troy ounce.
Note: The Kennedy half dollars from 1965 to 1970 are less common junk silver and contain 40% silver. They will have a different buy and sell price than the 90% junk silver. Be careful when you purchase 90% junk silver coins that the 40% silver coins aren’t mixed in with them—and you are charged for the higher silver content.
Why Junk Silver Coins aren’t in Circulation.
Junk silver is rarely found in circulation. The reason is due to Gresham’s Law.
Gresham’s Law states:
"When a government compulsorily overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation."
In other words: "Bad money drives out good."
People keep the old silver coins since they are now worth several times their face value due to the 90% silver content. You can take any of these coins down to a local coin shop and they will give you a significant premium over the face value.
Occasionally you may find one of these junk coins in circulation. If you do, consider yourself lucky. For example, with a silver price of $34 dollars an ounce, a pre 1965 silver half dollar is worth about $12.00.
This is 2400% of the face value. This is a strong indicator or how much inflation has
deflated the U.S. currency
Junk silver frequently slips into circulation from different sources—but they don’t stay in circulation long. They may come from children that raid their parents old coins for video money (or other ventures), or from people who don’t know what they have (such as old coins from inheritances etc).
Make no mistake about it, these coins will be taken out of circulation the moment someone who knows what junk silver coins are worth sees them.
For Information Only - Buy Silver Bullion
All precious metals are measured in troy ounces. A troy ounce is a weight measurement in the metric measurement system. A troy ounce equals 1.097 ounces in the English measurement system.
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