What Is Junk Silver? The Ultimate Guide

Everyone knows about the traditional forms of investment. Sure, you can drop your savings into the stock market or bonds, but there’s not a lot you can do once the money is in there. If you want to invest in something much more interesting, and with the element of a hunt, then junk silver might be right for you.

Prior to 1965, coins that contained 90 percent silver were commonly used as legal tender. Many of these coins are still around today, and may still be used as legal tender. The silver content within these coins, however, makes them more valuable as an investment to silver bugs, survivalists, and collectors.

Never heard of junk silver? Read on to learn everything you need to know about this unique investment opportunity!

Defining Junk Silver

When you first hear the term “junk silver,” you probably think of something like tarnished old jewelry or flatware. The term junk silver actually refers to certain coins that were minted before the year 1964. These coins are composed of 90 percent silver, and their actual value far exceeds the face value on the coin.

Another term to know is bullion value. This refers to the value of the silver included in the coin. This post goes over the finer points of junk silver and silver bullion.

Different coins minted at different times between the years 1933 and 1964 not only have different amounts of silver in them, but they also have different gradings. For example, the 1964 Kennedy half dollar is graded between very fine and extremely fine. This introduces an element of the hunt into finding junk silver. 

Where Can You Buy Junk Silver Coins?

There are many places in which you can purchase junk silver coins and silver bullion, including online stores and local retailers. That said, the best place to purchase junk silver is at a local coin shop that has a good reputation. Purchasing junk silver online is possible, but you do run the risk of encountering counterfeit junk silver.

Many local coin shops allow you to go through their boxes and pick and choose the coins that you would like to purchase. Others will grab a handful from the box and don’t allow you to rummage. Get a feel for your local coin shops to see which one you feel most comfortable with.

Can You Sell Junk Silver?

Many people who purchase junk silver do so with the intent of holding on to their silver for the long haul. Regardless, there may come when you need to destash and place your junk silver for sale.

Just like when you purchase junk silver, the best way to sell it is to take it to your local coin shop. The shop owners know what they’re dealing with and can offer you a fair amount for your junk silver coins. You can also sell coins online, but this is a less preferable option, especially since shipping large amounts of silver is quite expensive.

Are You Ready to Invest in Junk Silver?

Junk silver might sound like something that you should toss in the trash, but as we’ve learned, it can actually be quite valuable. Be sure to do your due diligence when sourcing junking silver to protect your investment. Before long, you’ll be turning a healthy profit!