Junk silver

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Junk silver. From top left: Silver dimes in paper holders, a roll of dimes and a mixed-
loose lot of half dollars, quarters, dimes and "wartime" nickels.
Junk silver is an informal term used in the United States, United Kingdom,
Canada and Australia for any silver coin which is in fair condition and has
no numismatic or collectible value above the bullion value of the silver it
contains. Such coins are popular among people seeking to invest in silver,
particularly in small amounts. The word "junk" refers only to the value of
the coins as collectibles and not to the actual condition of the coins; junk
silver is not necessarily scrap silver.[1]
Precious metals including silver are measured in troy ounces (ozt). A spot
price for silver is the price for a troy ounce of silver which is 99.9-percent
pure, or 999 fine. Silver coins including junk-silver coins have set silver-
alloy contents ranging from 35-percent to 90-percent or more. The term
"coin silver," for example, refers to 90-percent silver alloy which was the
most common alloy used to mint silver U.S. coins.
Any combination of 90-percent silver U.S. coins which have a face value of
US$1.00 contains 0.715 troy ounces of 99.9-percent silver (0.7234 troy
ounces if uncirculated), except for the silver dollars (Morgan and Peace)
which contain .7736 troy ounces of silver. In other words, a full troy ounce
of 99.9-percent silver is contained in any combination of 90-percent silver
U.S. coins which have a face value of US$1.40.[2]

Contents [hide]
1
Common U.S.
coins
2
Common U.K.
coins
3 Other
countries
4
Popularity
5 Junk
copper
6 See
also
7
References
Common U.S. coins
The most commonly collected junk-silver U.S. coins were minted before
1965 and include Morgan and Peace dollars; Liberty Head "Barber,"
Walking Liberty, Franklin and Kennedy half dollars; Liberty Head "Barber,"
Standing Liberty and Washington quarters; Liberty Head "Barber," Winged
Liberty Head "Mercury" and Roosevelt dimes; and Jefferson "Wartime"
nickels.[3]
Dollars
▪ Morgan (1878-1921) -- 90-percent silver
▪ Peace (1921-1928 and 1934-1935) -- 90-percent silver
Half-Dollars
▪ Liberty Head "Barber" (1892-1915) -- 90-percent silver
▪ Walking Liberty (1916-1947) -- 90-percent silver
▪ Franklin (1948-1963) -- 90-percent silver
▪ Kennedy (1964) -- 90-percent silver
▪ Kennedy (1965-1970) -- 40-percent silver
Quarters
▪ Liberty Head "Barber" (1892-1916) -- 90-percent silver
▪ Standing Liberty (1916-1930) -- 90-percent silver
▪ Washington (1932, 1934-1964) -- 90-percent silver
Dimes
▪ Liberty Head "Barber" (1892-1916) -- 90-percent silver
▪ Winged Liberty Head "Mercury" (1916-1945) -- 90-percent silver
▪ Roosevelt (1946-1964) -- 90-percent silver
Nickels
▪ Jefferson "Wartime" (1942 (partial)-1945) -- 35-percent silver
Common U.K. coins
The most commonly collected junk-silver U.K. coins were minted before
1946 and include Edward VII, George V and George VI crowns; as well as
Victoria, Edward VII, George V and George VI half crowns, florins,
shillings, six pences, and three pences.[3]
Crowns
▪ Edward VII (1902) -- 92.5-percent silver
▪ George V (1927-1936) -- 50-percent silver
▪ George VI (1937) -- 50-percent silver
Half Crowns
▪ Victoria (1837-1901) -- 92.5-percent silver
▪ Edward VII (1902-1910) -- 92.5-percent silver
▪ George V (1911-1919) -- 92.5-percent silver
▪ George V (1920-1936) -- 50-percent silver
▪ George VI (1937-1946) -- 50-percent silver
Florins (2 Shillings)
▪ Victoria (1849-1901) -- 92.5-percent silver
▪ Edward VII (1902-1910) -- 92.5-percent silver
▪ George V (1911-1919) -- 92.5-percent silver
▪ George V (1920-1936) -- 50-percent silver
▪ George VI (1937-1946) -- 50-percent silver
Shillings
▪ Victoria (1838-1901) -- 92.5-percent silver
▪ Edward VII (1902-1910) -- 92.5-percent silver
▪ George V (1911-1919) -- 92.5-percent silver
▪ George V (1920-1936) -- 50-percent silver
▪ George VI (1937-1946) -- 50-percent silver
Six Pences
▪ Victoria (1837-1901) -- 92.5-percent silver
▪ Edward VII (1902-1910) -- 92.5-percent silver
▪ George V (1911-1920) -- 92.5-percent silver
▪ George V (1920-1936) -- 50-percent silver
▪ George VI (1937-1946) -- 50-percent silver
Three Pences
▪ Victoria (1838-1901) -- 92.5-percent silver
▪ Edward VII (1902-1910) -- 92.5-percent silver
▪ George V (1911-1920) -- 92.5-percent silver
▪ George V (1920-1936) -- 50-percent silver
▪ George VI (1937-1945) -- 50-percent silver
Other countries
Some Swedish coins with 80% silver content.
Canadian quarter and dime coins minted before 1967 contained 80-
percent silver with every CAD$1.00 face value containing .6 troy ounces of
silver. In 1967, they were minted in either 80-percent or 50-percent silver.
In 1968, they were minted in either 50-percent silver or 100-percent nickel.
The 1968 nickel coins are magnetic whereas the silver coins are not.
Dollar and half-dollar coins contained 80-percent silver through 1967.
Australian "pre-silver" florin, shilling, sixpence and threepence coins minted
from 1910 to 1945 contained 92.5-percent silver. From 1946 to 1964, they
were minted in "post-silver" coins which contained 50-percent silver. In
1966, the "round" 50-cent coin contained 80-percent silver.[4]

Popularity
Junk-silver coins may be a desirable method of investing in silver for
several reasons:
Low premiums
Coins can often be purchased for little or no premium over the spot price of
silver, particularly during periods of economic stability.
Legal tender
Coins remain legal tender and maintain their face value regardless of the
price of silver.
Recognition
Coins are familiar and less likely to have their value disputed than silver
rounds or bars.
Divisibility
Coins can be easily spent or traded in small amounts. In contrast, minted
silver bullion is rarely smaller than a troy ounce, while minted gold bullion
(and other precious metals) is highly valued in even small amounts, like
the American Gold Eagle coins.
For these reasons, junk silver is popular among survivalists. In the event of
a crisis or catastrophe during which traditional currency collapses, it is
speculated that silver coins could provide a viable alternative, temporarily
or indefinitely, while fiat currency, which is not backed by precious metals
or other commodities, has no inherent value and can be subject to extreme
inflation, even hyperinflation, similar to Weimar Germany and, more
recently, Zimbabwe. Proponents of junk silver and other precious metals
adhere to the principle that, while fiat currencies have historically been
subject to hyperinflation, precious metals will always have inherent value
and can act as a medium of financial exchange when fiat currencies are
obsolete.

Junk copper
Some coin collectors[who?] and investors are also informally using the term
"junk copper" to refer to any copper-bullion coins of no numismatic value.
Prominent examples include U.S. pennies minted before 1982 (partial),
Canadian pennies minted before 1997, and some pre-Euro copper
European coins. 154 junk-copper U.S. pennies contain a full pound of fine
copper.

See also
▪ Coin collecting
References
1. ^ "90% Silver U.S. Coin Bags". Monex (Newport Beach, Calif.: Monex Precious
Metals). Unknown. Retrieved 2009-07-31.
2. ^ "U.S. Silver Coin Melt Value Calculator". Coinflation.com (Unknown:
Coinflation.com). Unknown. Retrieved 2009-08-07.
3. ^ a b "Spot Prices for Silver Bars, Silver Coins and Silver Rounds". Bullion Spot
 Price (Unknown: BullionSpotPrice.com). Unknown. Retrieved 2009-08-10.
4. ^ "Handy calculators for Australian silver coins". Silver Stackers Forum
(Australia: silverstackers.com). Unknown. Retrieved 2009-08-29.
Categories: Currency | Silver coins | Survival skills

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