What Is Junk Silver—and Why Do People Still Buy It?

Junk silver refers to U.S. coins minted before 1965 that contain 90% silver. Despite the name, these coins aren't "junk" at all—they're valued for their silver content, historical significance, and practical utility.

The term "junk" simply means the coins have no numismatic (collectible) premium. You're buying them for their metal, not their rarity.

What Coins Count as Junk Silver?

Pre-1965 U.S. coins with 90% silver content include:

• Dimes (Roosevelt, Mercury, Barber)
• Quarters (Washington, Standing Liberty, Barber)
• Half Dollars (Kennedy 1964, Franklin, Walking Liberty, Barber)
• Silver Dollars (Morgan, Peace)

These coins circulated as everyday money for decades. They passed through millions of hands, paid for groceries, settled debts, and witnessed history.

How Much Silver Is Actually in These Coins?

Every $1.00 face value of 90% silver coins contains approximately 0.715 troy ounces of pure silver.

Here's what that means in practice:

| Coin Type | Face Value | Silver Content | |-----------|------------|----------------| | Dime | $0.10 | ~0.0715 oz | | Quarter | $0.25 | ~0.1788 oz | | Half Dollar | $0.50 | ~0.3575 oz | | Silver Dollar | $1.00 | ~0.7734 oz |

This makes calculating value straightforward: multiply the face value by 0.715, then multiply by the current silver spot price.

Why Do People Still Buy Junk Silver?

1. Low Premiums

Junk silver typically carries lower premiums over spot price than newly minted bullion. You're paying for silver, not fancy packaging or minting costs.

2. Recognizable and Trusted

Everyone knows what a quarter looks like. These coins don't require authentication for most transactions—their weight, size, and design are familiar.

3. Divisible

Unlike a 10-ounce bar, junk silver comes in small units. You can sell (or trade) exactly what you need without breaking larger pieces.

4. Historical Connection

These coins circulated during the Great Depression, World War II, and the postwar boom. Holding one connects you to that history in a tangible way.

5. No Counterfeiting Concerns

While fake silver bars exist, counterfeit junk silver is rare and easy to detect. The coins are too small and varied to be worth counterfeiting profitably.

How Junk Silver Is Priced

Junk silver trades based on:

1. Spot silver price (the current market price per ounce)
2. Premium (the markup over spot)
3. Face value (how the coins are measured and sold)

You'll often see junk silver sold by "face value"—for example, "$10 face value" means $10 worth of coins at their original denominations (40 quarters, 100 dimes, etc.).

To understand how pricing works in detail, see our guide on how silver coin pricing works.

Is Junk Silver Right for You?

Junk silver makes sense if you want:

• Affordable entry into physical silver ownership
• Practical units you can easily trade or sell
• History in your hands, not just metal
• Simplicity without worrying about condition or grading

It may not be ideal if you:

• Want the lowest possible premium (some generic rounds are cheaper)
• Prefer uniform, pristine coins
• Are primarily interested in collectible value

Common Mistakes to Avoid

1. Expecting perfect coins — Junk silver is circulated. Expect wear.
2. Overpaying at coin shops — Compare prices to spot before buying.
3. Confusing 40% with 90% — Kennedy halves from 1965-1970 are only 40% silver.
4. Buying "slick" coins — Extremely worn coins may have lost silver to wear.

For more on avoiding pitfalls, see buying circulated silver coins online.

The Bottom Line

Junk silver is one of the most accessible, practical, and historically meaningful ways to own physical silver. The name is misleading—these coins represent real money that real people used, and their silver content gives them enduring value.

Whether you're starting your first stack or adding to an existing collection, understanding junk silver is foundational. It's where most silver journeys begin.

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Ready to see what junk silver looks like in practice? Browse our current selection of 90% silver half dollars or learn about the differences between Morgan and Peace dollars.