Australian Junk Silver primarily consists of pre-decimal coins. Many Australian coins minted before 1966 contain silver.
Before 1966, the Australian Pound was Australia’s currency. It was based on the British Pound, or pound sterling, and was similarly divided into 20 shillings, each shilling divided into 12 pence.
The Australian Pound had a fixed exchange rate with the pound sterling.
In 1945, the fineness of Australian silver coins was reduced from .925 to .500.
In February 1966, Australia’s currency was switched from the Australian Pound to the Australian Dollar. The conversion granted a rate of 10 Shillings per dollar.
During the changeover in 1966, Australians were required to turn in their silver coins for new decimal-issued coins. The government then melted down millions of the pre-decimal silver coins.
Some people hoarded the coins, now traded on the secondary market.
In general, Australian coins that were minted from 1910-1945 contain 92.5% sterling silver. From 1945 until 1963, they included 50% silver. In 1966, the Australian 50-cent coin was minted from 80% silver.
Some early pre-decimal coins may have a numismatic value to collectors greater than their intrinsic melt value.
Australian Junk Silver Coin Values
| Silver Coin | Silver Content | Year of Issue | Weight (grams) | Weight (troy) | Melt Value | # of Coins in Silver Ounce |
|---|---|---|---|---|---|---|
| 3 Pence | 92.5% | 1910-1944 | 1.3 | 0.0418 | $1.3 | 23.9 |
| 3 Pence | 50% | 1947-1964 | 0.71 | 0.0228 | $0.71 | 43.8 |
| 6 Pence | 92.5% | 1910-1945 | 2.62 | 0.0842 | $2.62 | 11.9 |
| 6 Pence | 50% | 1946-1963 | 1.42 | 0.0457 | $1.42 | 21.9 |
| Shilling | 92.5% | 1910-1945 | 5.23 | 0.1681 | $5.23 | 5.9 |
| Shilling | 50% | 1946-1963 | 2.83 | 0.091 | $2.83 | 11.0 |
| Florin | 92.5% | 1910-1945 | 10.46 | 0.3363 | $1.05 | 3.0 |
| Florin | 50% | 1946-1963 | 5.66 | 0.1820 | $5.66 | 5.5 |
| 50 Cents | 80% | 1966 | 10.62 | 0.3414 | $10.61 | 2.9 |
| Crown | 92.5% | 1937-1938 | 26.15 | 0.8407 | $26.14 | 1.2 |