Why buy junk silver?
It’s important to understand why you want to buy junk silver in the first place. Knowing what you’re hoping to gain up front before you buy will help keep your expectations in-line as you collect junk silver.
Do you see junk silver as an investment? For some it may be an investment, for others it’s a way to save money and hedge against inflation. Junk silver is real money that is backed by the US Government. More importantly, it also has intrinsic value in the metal it’s made from.
Junk Silver is real silver bullion
Junk Silver is real silver bullion. Each $1 face value of 90% junk silver contains .715 troy ounces of silver. Based on the current silver spot price of $18.83 each $1 face value is worth $13.46.
Junk silver is commonly recognized as real silver. It is something that has been commonly accepted based on it’s value. It is not commonly subjected to counterfeiting like other forms of silver bullion. Junk silver does not have any numismatic value to collectors. It is collected as a store of value purely for the silver content. It is easy to buy junk silver.
Junk silver is fractional silver and is easily dividable
It doesn’t carry the same premiums as other fractional silver bullion. Junk silver can easily be split up and sold or traded if it becomes necessary. It can make bartering and trading for goods and services much easier than other forms of silver and gold bullion because of it’s fractional nature.
Junk silver has never been subject to government confiscation
In 1933 President Roosevelt ordered all gold coins held by citizens to be turned over to the government. Those who failed do to so were subject to criminal penalties. Junk silver has not. It’s never been required to disclose ownership of junk silver coins. When copper-clad coinage was introduced in 1965 many people hoarded the 90% silver coins.
Junk silver is easy and convenient to store
Junk silver doesn’t require any special holders, containers or method of storage. It can be stored like any coinage. Most junk silver shows some wear and tear because it was in common circulation for many years.
Junk Silver has some of the lowest premiums
Junk silver carries a lower premium over spot price than other silver or gold bullion products. The price of junk silver is based purely on the silver content. With each $1 face value containing .715 troy ounces of silver.
Most coin dealers, pawn shops or other places that deal in silver and gold bullion will often have bags of junk silver available for sale. Bags containing $100 face value or $1000 face value are common. For making smaller buys as a way to store wealth, smaller increments can easily be bought. Many dealers sell rolls of dimes containing $5 face value, or rolls of quarters containing $10 face value. It is easy to buy junk silver whenever you have extra money.
Junk silver containing a lower percentage of silver, such as war nickels (35% silver content) and Kennedy half-dollars minted from 1965 to 1969 (40% silver content) can often be bought for less than spot price. Junk silver with lower silver content is considered less desirable to some people. Because of this it can sometimes be bought for less than silver spot price.
Junk silver is easy to liquidate and sell
Just as junk silver is readily available and easily bought, it can also be sold just as easily. Any local coin shop, pawn shop will readily buy junk silver in the event you need to sell it.