Junk silver? Where can I get some?

Junk silver.

With a name like that, why bother having any, right?

Wrong.

Junk silver, also called common date silver, refers to U.S. coins minted before 1965 and includes dimes, quarters, halves and silver dollars.



History of junk silver

When silver was removed from U.S. coins after 1964, most of the coins with 90% silver content were allowed to stay in circulation. But in the years afterwards, the government made a concerted effort to collect and melt U.S. silver coins.

With the banking system's cooperation, huge amounts of 90% silver quarters, dimes and halves were pulled from circulation, sent to government mints and melted to silver ingots and bars. These were stored or used for other purposes by the government.

However, because of the vast numbers of 90% silver coins already in circulation, naturally millions of silver dimes, quarters and halves remained in cash registers, piggy banks and coin trays across the country.

Collectors began searching for junk silver coins in the early 1970's. Although these common coins had little numismatic value, they had tremendous potential value as the silver was a hedge against inflation and the devaluation of U.S. dollar at the time.



The common method then and which continued to this day was to purchase rolls of quarters and dimes from the bank, search each coin, save the pre-1965 coins and return the rest to the bank. Then the process would start all over again.

Until the 1980's, this generally proved a worthwhile pastime. However, as collectors and the government pulled more coins out of circulation, this method of searching for junk silver became tiresome and fruitless.

Today's collector of junk silver is more likely to do the following to obtain a supply of common date dimes or quarters.

Coin shops
Many coins shops have junk silver in bags, boxes or shrink wrap available for market price plus premium.

Gold and silver exchanges
A popular type retail store specializing in the buying and selling of gold, silver and precious stones.

Pawn shops
Although the stock may sometimes be available, the pricing may not be accurate. Shop carefully.

Ebay
The popular online auction site hosts several sales of junk silver coins, sometimes in lots and others in small amounts like rolls or a few coins.

Online coin dealers
One of the best and most reputable ways to buy junk silver for current prices and in guaranteed amounts and quantities.




With silver at record price right now and with the economic uncertainty in the U.S., buying some junk silver may not only be an interesting purchase, but a smart investment as well.