What does junk silver look like?

Pre-1965 silver coins are often what buyers and sellers are referring to when they say “junk silver.” They can often be most easily distinguished from lower silver-content coins by appearance. The edge will not show the telltale copper streak but will appear silver all the way through. Dates are the other tip off.

How can you tell if silver is junk?

One way is to check the date on your coin. All U.S. dimes, quarters, half dollars, and dollars minted before 1965 are 90% silver. You can also view the edge of the coin. If you see a solid silver strip, then you can be confident it's silver.

Is junk silver worth anything?

A junk silver coin is still silver, but it doesn't really have any additional value. They're often relatively newer and in poor condition, making them not very valuable to coin collectors. However, because they're so easy to identify and have set amounts of silver in them, they're great coins for investments!

What years are considered junk silver?

The term junk silver signifies silver coins without a numismatic premium. In the United States, this is taken to mean pre-1964 90% silver dimes, quarters, and half-dollars; $1 face value of those circulated coins contains 0.715 troy ounce (22.2 grams) of fine silver.

What are the different types of junk silver?

The term junk silver refers to circulating dimes, quarters, half-dollars, and dollar coins minted until 1965 that contain 90% silver content and half-dollars struck from 1965 to 1970 with 40% silver in their metallic alloy. They are, sometimes, referred to as Constitutional Silver as well.

Junk Silver Buying Guide - How to Buy Junk Silver Like a Pro UPDATED!

How much is an ounce of junk silver worth?

Dealers will generally price their junk silver at the spot price of silver plus a fluctuating premium of say $1.00- $1.50 an ounce. If the spot price of silver is $20 and the premium is $1.00, the dealer will charge $15.30 per ounce of silver; if the premium charged is $1.50 an ounce the dealer will charge $15.80.

What should you pay for junk silver?

Multiplying your collection's weight by the current price of silver will yield the total value of your junk silver. For example, if you have 71.5 troy ounces of silver, and the current spot price is 32 dollars, then your junk silver is worth (71.5 * 32) or $2288.

Do people buy junk silver?

Junk silver still retains its legal tender status, making these coins widely recognized and easy to move. Given their popularity, there is always a market for junk silver, so you will have no trouble selling junk silver coins to coin dealers or private buyers when the time comes to liquidate your holdings.

How much does $1000 face value of junk silver weigh?

A $1000 face value 90% Silver Bag weighs about 54 pounds and the contents are sometimes called “junk” silver.

How much silver is in a bag of junk silver?

Each bag weighs approximately 800 troy ounces, or 54 pounds, and contains approximately 715 ounces of pure silver.

How do you test silver with a lighter?

The Lighter Test

Choose a rather inconspicuous area of your jewelry piece for this test. Heat that area moderately with a lighter and watch the reaction. A dark black stain means the metal is authentic silver.

Is junk silver the best investment?

Junk Silver Has Real Investment Value

They are also easy to store and liquidate. Even with a dealer markup, collectors can approach any bullion coin dealer for a junk silver bag. Premiums are low, especially for the 90% silver bags, and that makes them a popular investment.

How is junk silver sold?

Junk silver is sold by its weight, not its face value. When you buy junk silver by mass, you're buying silver dimes, quarters and half dollars that still carry the same face value, and which weigh less than they originally did when minted prior to 1965.

What year silver dollars are most valuable?

The most valuable silver dollars today. The record price for a coin was achieved by a silver dollar with a 1794 “Flowing Hair” specimen that was potentially the first dollar ever to be struck by the US Mint in Philadelphia.

Is it illegal to melt junk silver?

When the melt value of a coin exceeds the face value, they outlaw melting or exporting it. They did that with silver coins—dimes, quarters, and half dollars—back in the 1960s.

Is it legal to melt junk silver?

Junk silver coins are a 'finite commodity. ' They are no longer being made, and many of the bags have been melted down over the years. Since the late 1960's, it is legal to melt down junk U.S. silver coin.

Can I sell silver for cash?

Just like gold, silver has a great resale value. Though it is less precious than gold but significantly expensive than other metals. In case you are in dire need of money, you can sell your silver deposits and arrange for cash.

Was silver ever $50 an ounce?

in both early 1980 and the early spring of 2011 the fiat US dollar price per troy ounce of silver was around $50 oz USD. You can learn more about those two specific silver price highs here.

How much silver is in a $1?

Each Seated Liberty dollar is composed of 0.77344 troy oz of silver. They were minted at Philadelphia, New Orleans, Carson City, and San Francisco. A silver dollar would be worth $1 in silver if the price of silver is $1.29 per troy ounce.

Is junk silver better than bouillon?

Bullion is highly concentrated silver that's 99.9% (. 999) pure. Its higher purity makes it more valuable than junk silver. Amazing to hold in your hand, pictured is a rare vintage 50 oz Silver Bar and some newly minted renditions of the Morgan Dollar by a private mint.

What should I pay for 90% silver coins?

A Mercury dime contains 90% silver and weighs 2.5 grams. The dime is about 8% of a troy ounce. If the dime were 100% silver, it would be worth about $1.60. At 90% silver, the Mercury dime is worth about $1.44 when the silver spot price is $20.