how to buy junk silver

It is and most likely always will be possible to get Junk Silver Coins at Spot price if you just shop around.
Coin shops can be either a really great place to get junk silver coins or a really bad place.
Don’t call it "junk silver coins" you’ll likely get some strange looks, and may not get a call until some really bashed up cull coins arrive.
Buying junk silver coins has become a passion of ours, some might actually call it an obsession.
This means the persons selling the coins are not in store to make the adjustments needed to match quick changes is the silver market, but we’ll get to that later in the "When to Buy" section.

Besides investment purposes, people buy junk silver coins (like pre-1965 half-dollars, quarters and dimes) as a means of survival: in case of a total collapse of the U.S. dollar.
Ninety-percent junk silver coins are available individually, or in bags containing a particular face value, or legal tender value.
At Provident Metals, you can purchase as little as $1 in face value of junk silver coins, all the way up to $1000.
While junk silver coins do not contain an even amount of bullion (like 1-oz American Silver Eagles) they possess qualities that sometimes make them preferable to bullion coins.
In decades past, junk silver coins — which contain 90% silver — served as legal tender for everyday necessities like food and clothing.
Our secure online ordering system makes purchasing junk silver quick, simple and safe — and your coins will arrive in just days.
To see our current stock of junk silver coins, browse our website for up-to-date prices and availability.
And, yes, there is just something about the sound of a handful of silver quarters that cannot be matched! US silver coins are also great, I think, because they are easy to sell and universally recognizeable by even people who don’t know about American Eagles and Maple Leafs, etc (and a quick look at the date verifies silver content).
Since most of the coins you receive when you purchase junk silver are from 1965 or earlier, you are getting a rare opportunity to own coins that have existed for well over 40 years now.
Junk silver typically refers to older USA currency coins which contained 35%, 40%, or 90% silver content.
One of the most popular types of junk silver are 90% US coins dated before 1965.
Few other types of silver coins are as historically relevant as some of our junk silver is.
40% junk silver coins will almost always be Kennedy Half-Dollars.
Investors nowadays keep their eyes out for certain US coins, such as pre-1965 half-dollars, quarters, and dimes, which contain 90% silver.
As the value of American paper money is slowly falling due to inflation, the value of these no longer in production silver coins is rising.
Although these coins maintain their worth as US currency, their value as silver bullion is far superior to their face value.
The reality, however, is that junk silver can be just as good of an investment as any other type of silver seeing that it isn’t the design or condition of junk silver that matters, but rather the silver content.
People who purchase junk silver quickly realize that it is the furthest thing from junk seeing that there are few items able to give you as large of a return on your investment as junk silver can.
Though the word “junk” may disinterest a lot of investors, these bags of US junk silver are much more valuable then their name implies.
In the past, the United States utilized silver in all coins but the penny due to silver’s physical qualities and relatively lower price at the time.
Although pre-’65 silver coins would be ideal for survival purposes, when junk silver coins sell at premiums near premiums on 100-oz silver bars and 1-oz silver rounds, junk silver coins hold greater upside price potential than .999 fine silver bullion products because at times, and especially during rising precious metals markets, circulated 90% US junk silver coins pick up huge premiums as the supply of junk silver coins is limited.
While junk US silver coins held huge premiums during the Y2K buying frenzy, many CMIGS clients–at our urging–traded their junk silver coins for 100-oz bars or 1-oz rounds and increased their silver holdings by 35% to 45% without laying out additional cash.
To support the assertion that bags of US silver coins hold greater upside potential than .999 fine bullion items, a little background on junk silver coin prices and silver prices is in order.
After Y2K became a nonevent, the premiums on bags of US silver coins fell to where junk silver coins became cheaper than 100-oz silver bullion bars.
Consequently, in 1998 and 1999 people fearing Y2K bought junk silver coins at whatever prices, and bags picked up 50% premiums.
When bags of circulated US silver coins can be bought at about the same premium as 100-oz bars, or even at small premiums over 1-oz silver rounds, bags should be the first choice for those investors who can handle the bags’ bulk and weight.
Although many investors buy junk silver coins as bullion investments, other investors buy junk US silver coins for “survival purposes.” These buyers fear the worst for the dollar, that it will be printed until it becomes worthless.
Over the last four decades, when precious metals enjoyed bull markets, junk US silver coins often achieved premiums of 20% to 30% over spot.
Still, the potential for 90% silver bags to pick up big premiums justifies the buying of bags US silver coins by investors who can handle the bags’ weight and bulk.
For most of the 1980s, investors were net sellers of silver, which resulted in huge quantities of junk silver coins being refined and converted into .999 fine silver.
CMIGS ships from Phoenix all bags of junk silver coins it sells.
The minimum order for junk silver coins at CMIGS is a $250 face value bag, which contains 178.75 ounces of silver.
Before Y2K, an order for 100 bags of junk silver coins could be filled with a phone call to any one of many wholesalers.
If silver goes up ten cents, a bag of US silver coins rises $70 or so; however, when junk silver coins are in short supply their premiums can increase.
CMIGS does not drop ship junk silver coins because we go though all 90% US silver coins before shipping and replace any excessively worn or otherwise damaged silver coins.
On January 3, 2000, as soon it became evident that the world’s computers were not going to fail, investors began selling, and they sold throughout the year and into 2001, forcing down prices on US silver coins until they sold at discounts (below the value of their silver content).
When minted, a bag of 90% junk silver coins contained 723 ounces of silver, but because of wear a smelted bag of dimes or quarters will net about 715 ounces.
Later silver coins, those from the ’50s and ’60s — these include Roosevelt dimes, Washington quarters, and the Franklin and ’64 Kennedy halves — don’t show that much wear because soon after the Mint replaced silver coins with the modern (and almost worthless) "clad" coins in 1965, shoppers rapidly gleaned the silver coins from circulation.
The junk silver dimes, quarters, and half dollars are an alloy made of 90% silver and 10% copper, as are the new "proof" coins.
As I write this, pure silver is worth about $36 a troy ounce (see sidebar on "Weights.") and $1 face value of junk silver has about .715 ounces of silver, the same purchasing power as approximately $25 in Federal Reserve Notes.
They call those pre-1965 silver dimes, quarters, and halves "junk silver" because, having been circulated, they are worn and have no real numismatic (coin collecting) value.
Americans are always going to recognize dimes, quarters, and halves, and junk silver coins, especially those that have seen years of circulation, and they are going to be difficult to fake.
If you’re wondering how the Silver Eagle dollars equate to the junk silver on the basis of silver content, figure one Silver Eagle is worth about $1.40 face value in junk silver coins, more if the junk silver is really worn.
To figure out what kind of premium you’re paying on junk silver, divide the price of $1 face value of the 90% silver coins by .715 and you’ll see what you’re paying for the silver content.
One antique store in Coos Bay, Oregon, is selling junk silver for just over spot (the price of a commodity such as an ounce of gold or silver at that very moment), but another, just a few miles away in North Bend, was asking $4.50 for Mercury dimes — ridiculously overpriced — and buying them from the public for $1.70. Not a bad racket if you can pull it off.
When originally made, $1 face value — that is, ten dimes, four quarters, two halves, five dimes and two quarters, or any other combination that adds up to $1 — contained .7234 troy ounces of silver.
This is a pile containing $100 face value of pre-1965 "junk silver" coins, but it could represent 400 gallons of gasoline or 400 loaves of bread.
There may come a day when $100 face value in junk silver coins are worth 400 or more gallons of gas.
I don’t have much to do with the so-called war nickels, coins made with 40% silver which include the Kennedy halves made from 1965 to 1971 and the Eisenhower "S" dollars made from 1971 to 1976.
If you’re going to put money in bullion, make it separate from the junk silver coins that you can be sure are going to be spendable, if and when the world goes to pot.
Personally, I think the old "Walking Liberty" half dollars, designed by Adolph Weinman, are the most beautiful design for any of the silver coins the Mint has ever made.
If so, consider the Silver Eagle "dollar" coins made by the U.S. Mint.
I should add that the Walking Liberty design has been returned on the Silver Eagle bullion coins the Mint has made since 1986.
There is no way that that amount of money, created out of thin air, can be introduced into our economy without creating inflation, and inflation is going to guarantee that, over the long run, your stash of junk silver will become worth more in Federal Reserve Notes.
You can do this by taking the current silver price and multiply it by 0.36169 (for Kennedy Half Dollars) or by 0.07234 (for Mercury Dimes).
Flea Markets, Antique Stores, Jewelry Stores, Pawn Shops, Hobby Shops, often offer competitive and close to spot price 90% silver.
Search different online auction sites for Junk silver coins.
Morgan Silver, Kennedy 1964 Half Dollars, Mercury or Roosevelt dimes might be the best place to start.
Junk silver coins include old US coins minted before 1964 that contain silver.
Calculate the current silver value of the junk silver coins you have chosen to buy.
They include silver dollars, mercury dimes, barber quarters, Kennedy half dollars and so on.
Decide which Junk Silver Coins to buy.
We needed nickel so much during WWII that we couldn’t afford to use it in our…well…nickels! So with a large mint mark over the top of Jefferson’s Monticello on the reverse and 35% of silver, (along with copper and manganese), these weird birds were born.
In addition, Midwest Refineries refuses to accept these halves for melt purposes because of the added cost of separating the precious silver from the extra copper.
Please, try explaining to some poor uneducated trading partner that these dark "nickels" don’t have nickel in them (like all other US circulated nickels in the last 100 years or so) but actually have a jot of silver.
They tend to have slightly more silver content as well, since less fingers had a chance to rub off silver before they were mason-jarred when the government discontinued the 90% silver coin program at the end of 1964.
Morgan Silver Dollars have 90% silver content with an overfed chick on the obverse and a phoenix-looking bird on the reverse (cool conspiracy stuff – never mind).
It’s also illegal to melt down nickels for metal content, although some say the war nickels are exempt because of their silver content.
Another reason I prefer the early 60’s coins is that there is less numismatic interest in these more common coins than in the Franklin Halves, Walking Liberty Halves, Mercury & Barber dimes, and the Standing Liberty Quarters.
My goal is always to buy as much junk silver (pre-1965 dimes, quarters, halves) at or preferably below melt.
90% Silver Proof sets carry a large premium because they are primarily designed for coin collectors.
Investors buy these coins today for their metal content, paying attention to what they call “melt value” – which doesn’t imply the melting of the coin (that’s illegal) but rather the intrinsic value of the silver contained.
But there are three specific U.S. silver coins that I believe provide for the best junk silver investment.
Junk silver coins with lower silver purities – like the 40% silver Kennedy half-dollars and 35% silver Jefferson war nickels – force you to mostly own other metals of much lesser value, like copper and manganese.
In the past few years, the market for U.S. junk silver coins has been quite healthy as buyers quickly learn that they can be one of the absolute most affordable ways to buy silver.
Although there are many world coins minted in silver, the most popular junk silver on the market today are circulated U.S. coins minted before 1965.
Meanwhile, you buy can U.S. junk silver coins for as little as 1% – 3% over spot prices.
Nevertheless, you certainly won’t be able to put together a sizable investment from the silver coins you find in your pocket change.
However, there is one specific set of silver coins that dealers quite frequently sell below spot prices.
are offering Investment U readers a special deal on “junk” silver coins.
There, you’ll find junk silver coins sold in small denominations, or in what are known as “silver bags”.
Popularity-wise, junk coins with lower silver purities play second fiddle to the 90% silver coins and are ultimately less liquid.
To buy silver below spot prices, speculators may need to make a sizable investment.
A silver bag is simply a bag of circulated U.S. junk silver coins – assorted in either single or multiple denominations with varying dates.
So if you’re interested in junk silver coins as an affordable way to buy silver, not all U.S. silver coins fit the bill.
Even though these coins are called “junk”, they contain one of the most important monetary metals known to man: silver.
Prior to that year, the U.S. government produced many of its coins in alloys consisting of silver purities ranging from 35% to 90%.
The best junk silver coins are the purest.
But no matter what you call them, 90% silver U.S. coins can be one of the most affordable and fun ways to invest in silver.
That’s because a growing interest in numismatics has greatly increased the premiums for certain, rarer U.S. silver coins.
Most investors are skeptical when you tell them that they can actually buy silver below spot prices.
But at its core, a junk silver coin is any government-issued coin containing any amount of silver that has little to no numismatic or collectible value above the value of the metal it contains.
Standard silver bullion – like American Eagles and Canadian Maple Leafs – can often carry high premiums above the metal’s spot price.
The term “junk silver coin” is broad, covering many world coins.
A circulated Peace dollar in good condition, for example, will sell for a 15% – 20% premium from a coin shop or online auction – higher that the premium on a 99.9% pure silver American Eagle.
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The other two ways to buy coins involve purchasing them, whether it’s in-person or online.  No matter where coins are purchases, it is important to remember that almost no junk silver will be purchased at its melt value.  Sellers make money from the difference between the price they charge and the melt value of the coins they sell.  The difference between the selling price and the melt value depends on the seller.  Online sellers usually have a lower spread since they don’t have the overhead of a physical dealer.  Some the biggest sellers of silver coins are online dealers and eBay sellers.  eBay contains some of the cheapest coins, but has the extra risk that comes with dealing with non-professionals.  However, there are many professional coin dealers who also sell on eBay, so it depends on the reputation of the seller.  Many online dealers also have their own website where they other large amounts of junk silver alongside their other offerings.
There are three main ways to acquire junk silver: through physical dealers, through internet dealers, and by finding the silver coins in change.  Searching through rolls of coins for ones made of silver is by far the cheapest way of finding junk silver.  Buyers can get rolls through their local bank and get the coins for face value.  This option is best done by people with an interest in coin collecting.  Searching through many rolls of coins can be tedious and occupies a large block of time.  It isn’t for everyone.
Junk Silver includes any coin whose value is derived only from the value of the silver in the coin.  This usually comes when a coin’s condition is so low that it loses any collectible value.  The only value left is the metal the coin was made of.  In the United States, pre-1964 Roosevelt Dimes, Washington Quarters, and Kennedy Half Dollars contained 90% silver and are the most popular junk silver coins.  Kennedy Half Dollars from 1965-1970 are also popular, but only contain 40% silver.  Some older coins can also count as junk silver, but only if they are in really poor condition.  Many countries have silver bullion coins who sell just for their silver value, but these aren’t included in junk silver.
Physical dealers sell their junk silver through many different places like coin shows, on websites, or at their shops, if they have one.  Buying from a dealer on the internet works the same way as buying from solely internet dealers.  At coin shows, many dealers with have boxes or rolls of junk silver coins for people to purchase.  Boxes usually sell a certain amount for $10 or $20 dollars.  The same works for a dealer’s shop, although many shops have a larger selection.
To simplify the process, we have broken our guide into three sections, which are: How to sell junk silver coins at auction, How to pawn your silver coins, and How to sell junk silver coins through classified advertisements.
Search online until you find a reputable auction website that lets you sell junk silver coins.
Sell your junk silver coins to the pawnbroker that has offered you the best price, or better yet, contact a coin dealer to compare their rates.
When the auction closes, you’re typically required to sell your junk silver coins to the highest bidder.
Create a strong but honest description of the junk silver coins you are trying to sell.
When you want to sell junk silver coins there are ten tips that you should keep in mind.
It is always recommended that you take a clear photograph when you try to sell junk silver coins online.
Speak to the pawn brokers about what they are willing to offer for your junk silver coins.
Provide prompt and thorough answers to anyone who seems interested in buying your junk silver coins.
This will give you an idea of what price they might be willing to offer for silver coins, and it will let you get a sense for how personable the pawn brokers are.
So, when selling junk silver coins, it pays to do a little bit of homework first.
Some places are now even offering smaller bag sizes and even rolls of junk silver coins, but you’ll pay a larger premium for those smaller amounts.
If you count’em up all the coins the bag will add up to $1000, but the reason your paying much more than that is because all of those quarters combined total 715 ounces of silver! You can also purchase half-bags ($500 face value) or quarter bags.
When you’re in the market to purchase junk silver, forego your aesthetic taste because your probably not going to run into any coins that are in very good shape primarily because these coins are old.
Junk silver coins, as they are affectionately called, are minted US coins that contain anywhere from 35% to 90% in them.
When dealing with junk silver coins, they want to sell in quantity.
Coin rolls are sometimes a good source for these types of silver coins.
In fact, that is why they call it junk silver! Silver buyers are attracted to this type of silver investment mainly when the price of 1 oz silver becomes a bit too rich for them.
So, what’s the big attraction to junk silver then? The key is the small denominations, and the fact that these are actual legal tender.
With pre-1964s and ’65-’70s yielding a value of about $12 and $4 respectively, which fluctuates, many people who try CRHing quickly conclude that the effort and expense (in the escrow money needed to buy the coins, their time, and possibly gas if a bank willing to give you half dollars in bulk isn’t nearby) of getting, searching and (especially, and this can’t be understated) dumping the coins back into the same or (usually) different bank is not worth it.
This old practice is called “coin roll hunting.” It’s a hobby for some people (who may sift through, say, $100 to $500 of rolled coins each week or two) and an obsession for others (who may look through several thousands of dollars a week and expend a great deal of time and effort in “buying” and “dumping” rolls).
Prior to 1965, the change in our pockets was made largely with silver! After 1965, the mint began producing coins using cheaper metallic components.
Junk silver coins are technically pre-1965 dimes, quarters, and half dollars issued by the US Mint.
After all, how could a bag of “junk” cost thousands of dollars? Needless to say, junk silver is anything but junk.
Junk Bags Of Silver Are Great Opportunity When you think about it, $1000 worth of old silver dimes or silver quarters now costs about $20,000! That is truly some growth with much more upside potential! In part four of “What Is The Best Silver Investment?” I’ll show you just how wrong President Lyndon Johnson was, I’ll bet that he wishes he had a few bags of junk silver… President Johnson’s Coinage Act of 1965 Former President of the United States Lyndon B.
That Astute American could have turned $1000 into $50,000 simply by setting a few of boxes of silver next to his galoshes in the hallway closet and forgetting about them for a few decades, and worse case, his $1000 would always still be $1000 in American coinage! If you would like to speak to an ITM Trading Precious Metals Consultant about buying a junk bag of silver, or other silver or gold coins, please call us at 1.888.OWN.GOLD, we are here to be of service.
This being said, what a silver dime or silver quarter weighed when it left the U.S Mint and what it weighs after fifty years or more of use can vary by a significant margin, and since you are truly concerned about the net weight of the silver you are purchasing, and not necessarily the face value, quite often the wholesaler of a junk bag of silver will weigh out a bag of junk silver rather than count out 10,000 silver dimes or 4,000 silver quarters.
A Junk Bag Of Silver Contains Circulated Silver Dimes And Silver Quarters When I say circulated, I mean these coins were used as currency and given as change in everyday cash transactions.
A full bag of junk silver consists of $1000 of silver dimes or silver quarters by face value.
If you buy junk silver, think just how wrong Lyndon Johnson was when he spoke these words: A U.S. Mint Proof Set “The new dimes and the new quarters will contain no silver.
Therefore it is quite common to find more than $1000 face value of silver coins in a full junk bag of silver.
If you are considering a half a bag of junk silver, or a quarter bag of junk silver, then of course these bags would contain $500 face value of silver coins and $250 face value of silver coins respectively.
At this point I should also point out that there can be premium differences between a junk bag of silver dimes and a junk bag of silver quarters or silver dollars.
On the other hand, the last time I bought a junk bag of silver dimes, there were several old Mercury dimes (an old design featuring the Roman messenger Mercury) as well as some proof and cameo proof silver dimes in very good condition.
This act in essence removed the silver content from Americas silver dimes and silver quarters, and thus created the junk bag of silver.
Also, if you are in the market for a smaller amount of junk silver, call us at 1.888.OWN.GOLD. Depending on market availability, we can sometimes procure smaller junk bags of silver without a substantial increase in premiums.
I should note that silver prices can change somewhat quickly, so being able to purchase a full junk bag of silver when silver prices drop just $0.20 an ounce will result in a $200 savings.
That being said, with silver currently trending at about $20 an ounce, a silver dime is worth about $2.00, and a silver quarter is worth about $5.00. If you are truly on a limited budget, you may be able to find a coin dealer nearby who will sell single silver dimes and/or silver quarters.
As a reminder, when it comes time to buy junk silver coins in Atlanta, Atlanta Gold & Coin Buyers should be your coin dealer of choice.
Atlanta Gold & Coin Buyers should be your destination of choice when it comes time to buy junk silver coins in Atlanta.
We typically buy and sell 90% silver coins in bulk, including $50, $100, $250 and $500 bags due primarily to the relatively small cost per claim relative to some other silver coins, making them some of the most reasonably priced silver bullion coins available.
As a bulk buyer of silver coins, we’re able to offer more when we buy junk silver coins and sell them for less than our competition.
Also referred to as junk silver coins, because the coins are bought and sold primarily for their silver content, 90% U.S. silver coins minted in 1964 and earlier are some of the most recognized and liquid silver coins available in the marketplace today.

Why are the old silver coins cheaper than the coins and bars minted yesterday? Refining silver and minting coins costs money… so the mints need to charge a premium over melt value.
Right now, junk silver trades at a much lower premium over melt value than silver coins minted yesterday at the U.S. Mint.
You might think a 100-ounce bar of silver would sell for a lower premium over melt value than a bag of junk silver coins.
Your typical one-ounce Silver Eagle coins produced yesterday at the U.S. Mint sell at a premium of about 10% to 12% over their melt value.
But if you like the idea of junk silver, Michael Checkan is kind enough to break the bags down into smaller increments… A $100 face value bag is one-tenth that size.
Junk silver isn’t junk, really… It’s simply U.S. silver coins minted before 1965 that have no collector’s value today.
It doesn’t matter if it’s dimes, nickels, or quarters in a bag of junk silver coins… All these coins minted before 1965 contain 90% silver by weight.
But when you buy bags of junk silver coins these days, you pay a premium of only around 4%.
P.S. Doc Eifrig has put together a whole report that has all the details on junk silver – which coins to buy, how to buy them, how much silver you should own, and the benefits versus other silver investments.
Right now, supply and demand has kept the prices of junk silver coins cheap.
Michael says bags of junk silver are the best way to get started in owning actual precious metals.
"Demand for silver coins is taking off," Doc Eifrig says.
"But there’s a way to get terrific upside exposure to a bull market in precious metals, specifically silver, without getting into the risky business of mining." Find out how here: Silver Mining Is for Suckers.
The public is catching on to the value of silver, and I expect this trend to continue for years." See the charts that prove it here: The Silver Rush Is On.

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