Finding And Buying 90% Junk Silver Coins For Sale – Why You Might Want to Consider Investing In These Silver Coins

Posted by Bob Friesen in Money | Comments Off

Americans are attracted to anything “retro” whether it’s rare junk silver coins, cars, movies, or old fashioned diners.  I can remember buying a hamburger, fries, and a Coke with a Washington quarter dollar at Lucky 7 Drive In back in the 1960′s.  If the place were still around, business would be thriving and reservations would probably be taken.

Google search for anything that you like and add the word “retro” to the search and I can almost guarantee you that you will be pleasantly surprised at the results.  Many retro products for sale such as silver coins, stamps, Ford Mustang emblems, etc., are the real thing that someone had stashed away in a storage closet or attic.

I have a thing for old American silver coins not only because I think they have a certain retro coolness factor, but also because they contain 90% pure silver.  My aunt Jane used to give me a dollars worth of Washington quarters every time that she came to visit our family.  Most of them were the 90% silver quarters.  If I kept them until her next visit, she would give me $2 in coins.  It’s too bad that I later spent them on Snickers candy bars and other junk!  On special occasions, she would bring us real silver dollars.  Those silver dollars are worth nearly $30 today.

There Is Plenty Of Junk Silver For Sale Today At Bargain Prices

Junk silver is still a bargain.  If you take in the effect of inflation, junk silver is selling for the same price that it sold for when it was first minted.  I need to clarify that this is for circulated junk silver coins.  Shiny un-circulated silver and gold coins command a premium that is well over the face value and silver value of the coins.

Before 1965, the United States minted dimes, quarter dollars, half dollars, and silver dollars from a composition of 90% silver and 10% copper. The melt value quickly exceeded the face value after the composition  changed.  The coins were quickly disappeared from circulation as wise people and government officials procured as much of the old coins as possible. Over the years only a scant amount of the 90% silver coins were melted, leaving a plentiful supply as a vehicle for silver investment.

Junk silver has gained popularity over the past few years because the price of silver has jumped form $6 an ounce to nearly $50 an ounce.  While it’s not selling at $50 an ounce today, the higher price that it commands has created an interest in this precious metal.  Unlike gold which is extremely expensive per ounce, junk silver coins can be purchased for pocket change.

For example, the smallest denomination of junk silver coins are the 90% silver Roosevelt and Mercury dimes which contain .07 ounce of silver are worth the spot price of silver times the weight of silver.  When silver is selling at $30 an ounce, a junk silver dime is worth approximately $2.15.

All 90% junk silver coins have a standard weight that corresponds to their face value.  To determine the weight of silver in 90% silver coins, multiply the face value by 715 and divide that number by 1000.  For example, if you have a 90% junk silver dollar, use the following equation to calculate the weight of the silver:  1×715/1000=.715 oz.

Another favorable characteristic of junk silver coins are the denominations that they are available in. Junk silver coins for sale are available in $.10, $.25, $.50, and $1 denominations. They are universally accepted in just about every country in remote village in the world because of United States government stamp. Many people like to collect rare US silver coins. non-circulated coins are not considered junk silver because they are in superb condition. Junk silver coins on the other hand are characteristically well-worn and circulated.

Junk silver coins for sale are commonly sold in $1000 face value bags, $500 face value bags, and $100 face value bags. Just a few short years ago it was easy to purchase $1000 face value bags because silver selling dirt cheap. That same bag as of the time of this writing is selling for about $25,000. $100 face value bags selling in the $2500 which makes them more attractive for small investors and hobbyists. Personally, I like to buy small bags in dim es, quarters, half dollars, and $1 coins.

People buy more 90% silver bags than 40% silver bags you are paying for the price of silver plus the face value of the coin.  I have not bought any 40% silver bags, yet I come across more 40% silver coins at my bank than the 90% silver coins.  A $1000 face value bag of silver weights approximately 54-55 pounds and contains 715 troy ounces of silver!

If you are looking for great companies that sell junk silver coins, you may want to go to your local coin shop and buy a small amount to get a feel for this type of financial investment.  Online companies like GoldSilver (dot) com, Apmex, Golden Eagle coin, as well as other reputable dealers have a great selection as well as superior service.  I have dealt with all them.