Junk silver coins are a very cost-effective way to own silver bullion. These silver bullion coins are usually highly-circulated coins. As a result, the bulk of them show obvious wear.
The word “junk” is used to make it clear these silver coins have no numismatic/collectible value. This term was not meant to imply the coins have junk-like appearances.
This page highlights US and Canadian silver coins. Other notable sources of junk silver are Australia and the United Kingdom.
Junk Silver - U.S. Silver Coins
US coins that are purchased as junk silver include:
Click here for more details regarding the silver content in coins minted prior to 1971.
The Royal Canadian Mint also minted circulated coins that are frequently traded as junk silver. They include:
Silver amounts increased midyear for 1942 Jefferson Wartime Nickels and decreased midyear for 1967 and 1968 Canadian dimes & quarters.
Junk Silver Coin Prices
Expect your silver bullion dealer to quote you a price based on a bag of silver coins. This phrase is synonymous with junk silver.
Junk silver coins have no numismatic value since they were formerly in circulation.
Their silver bullion value is their only worth. Protecting their appearance is not a priority.
So using bags to hold circulated coins when they are transported or stored is acceptable.
A bag of silver coins is typically sold in different face value amounts
(see list below).
Face values are the legal tender amounts stamped on coins (i.e.10¢).
For example, 500 US dimes equals $50.
One troy ounce of silver bullion is approximately equal to:
Please click here to learn how silver coin prices are determined.
The silver coin melt value is the price a refining company is willing to pay for scrap silver coins it intends to recycle.
In earlier times the United States issued silver and gold monies. The former - silver money - was key to supplying citizens with smaller denomination silver coins and silver-backed paper money.
That same principle applies today. Most people like to have some smaller bills in their wallets.
The cashier at the local convenience store may not appreciate it if you use a $100 bill to pay for a carton of milk. Why break a $100 bill when a $10 bill is all you need?
Similarly, owning silver bullion coins can minimize the amount of precious metals used at one time since gold has a higher value. Why liquidate a one ounce gold coin when the crucial item you need has a $100 cash price?
Minimizing the amount of precious metals converted to cash during times of hardship is an efficient way to use your gold and silver bullion.
It's wise to consult your accountant about applicable taxes before you sell any precious metals.
Silver Complements Gold
As you can see in the photo below, 1 oz. gold bullion coins and a bag of silver coins are shown together. One complements the other.
It's hard to believe anything called “junk” can be so valuable. But now you know better. Junk silver coins are literally worth their weight in silver.
Best wishes. Please select a link on my navigation bar (upper left) to learn more about gold bullion and silver bullion.Return from Junk Silver Coins to Silver Bullion Coins
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