What You Need to Know About Junk Silver Coins

What You Need to Know About Junk Silver Coins
Collecting coins is a great way to learn more about America’s history and to provide you with a lucrative investment for the future. When it comes to silver coins, not everyone is aware that it is possible for a single coin to be worth more than its silver content. This can be attributed to the mintage, mintmark or condition of the coin. However, on the flip side, junk silver coins, which refer to common date circulated condition 90% silver coins, are worth no more than their silver content. These are the most common silver coins that are bought and sold in the United States. Being familiar with the ins and outs of junk silver coins, including their condition and silver content, can assist with making a sound investment decision.

Condition of Junk Silver Coins

Junk silver coins are usually 20th century U.S. silver coins that were minted for general circulation. Some coins can show signs of extreme wear; especially those minted in the late 1800’s or early 1900’s. In these cases, the silver content of the coins is less, and as you would expect, are lower desired coins. Coins that have a substantial amount of wear and/or are dateless are commonly referred to as “cull” coins.

Coin Composition of Junk Silver Coins

When the overall value of a coin is equal to or less than its silver content, it is likely a junk silver coin. While most junk silver coins refer to U.S. dimes, quarters and half dollars minted in 1964 or earlier, coins that contain less than 90 percent silver content can also be referred to as junk silver coins. For example, Kennedy half dollars minted from 1965 through 1970 and Eisenhower dollars which were minted from 1971 through 1976 at the San Francisco mint contain 40 percent silver. Additionally, nickels minted from 1942–1945 are referred to as silver war nickels and contain 35 percent silver.

Buying Junk Silver Coins

If you decide to buy junk silver coins, you need to find out where you can purchase them. Silver coin dealers are a great place to look as they often provide good deals; especially when buying in bulk. Ask other coin collectors for recommendations as to reputable and trustworthy coin dealers that they may know. If they're unable to suggest any, conduct an online search for coin dealers in your area. You can also check the coin dealer's credibility on the Better Business Bureau's website to ensure that you’re dealing with an honest individual or company.

No matter what your reasons are for collecting silver coins, the time may come when you will want to purchase junk silver coins. In this case, learn as much as you can about their condition and composition, and be sure to pay less for cull silver coins, which have a substantial amount of wear. Once you've acquired this information, find reputable silver coin dealers from whom you can purchase them. Atlanta Gold & Coin Buyers