Junk Silver 101: A Brief Overview of Junk Silver
Junk Silver is a term commonly used by precious metals investors, coin collectors, numismatists and others to describe circulated coinage that was minted from alloys containing silver.
It is an easy and simple way to refer to older circulated coins from the United States, Canada and other parts of the world that were minted with silver. These circulated silver coins have little to no interest to coin collectors and numismatists.
These coins’ value is based on the intrinsic value of the amount of silver each contains. The word “Junk” refers only to their not having any value to collectors. Junk Silver is not considered scrap.
Why You Should Buy Junk Silver
Many people invest in precious metals, especially gold and silver. Investing in precious metals is an excellent way to save money for a rainy day and provides more stability for saving money than putting money into a savings account with a bank.
Buying Junk Silver is also a top priority for those concerned with preparing for some sort of future disaster, whether financial or societal collapse. Junk Silver is real money and it is also fractional silver that can be used for trade and barter in the event that it may be needed.
Before you buy junk silver it is important to familiarize yourself with the various types. Having some basic knowledge, such as which years’ coins were minted with silver and which ones weren’t, will help prevent you from making major mistakes when you invest in junk silver.
The most common types of junk silver coins will also have the lowest premium over the silver spot price. The two most common coins you’ll find for junk silver are the Roosevelt Dime and the Washington Quarter.
Monetary Value of Junk Silver
Bags of junk silver come in a variety of face value bags from online bullion dealers. Most dealers will carry $10 Face Value bags, $50 Face Value bags, $100 Face Value bags and $1,000 Face Value bags.
When first minted, a $100 Face Value bag of 90 percent silver coins would contain 72.3 troy ounces of silver. Through normal circulation, the coins will have some natural wear and tear that causes a slight amount of silver to wear away. It’s commonly accepted that a $100 Face Value bag of junk silver coins today will contain roughly 71.5 troy ounces of silver.