What Is Junk Silver?
Junk silver is a term for pre-1965 US coins that contain 90% silver and have no significant collectible or numismatic value beyond their silver content. Despite the name "junk," these coins contain real, valuable silver — the nickname simply means they're traded for their metal content rather than as collectibles.
The word "junk" doesn't mean worthless — it means these coins are in average, circulated condition with no special rarity. A bag of junk silver dimes is actually worth hundreds of dollars based on silver content alone.
Which Coins Are Junk Silver?
90% Silver Coins (Pre-1965)
| Coin | Years | Silver Content | Silver Weight (oz) |
|---|---|---|---|
| Roosevelt Dime | 1946-1964 | 90% | 0.0723 oz |
| Mercury Dime | 1916-1945 | 90% | 0.0723 oz |
| Washington Quarter | 1932-1964 | 90% | 0.1808 oz |
| Standing Liberty Quarter | 1916-1930 | 90% | 0.1808 oz |
| Franklin Half Dollar | 1948-1963 | 90% | 0.3617 oz |
| Walking Liberty Half | 1916-1947 | 90% | 0.3617 oz |
| Morgan Dollar | 1878-1921 | 90% | 0.7734 oz |
| Peace Dollar | 1921-1935 | 90% | 0.7734 oz |
40% Silver Coins
| Coin | Years | Silver Content | Silver Weight (oz) |
|---|---|---|---|
| Kennedy Half Dollar | 1965-1970 | 40% | 0.1479 oz |
35% Silver Coins
| Coin | Years | Silver Content | Silver Weight (oz) |
|---|---|---|---|
| War Nickel | 1942-1945 | 35% | 0.0563 oz |
War nickels have a large mint mark (P, D, or S) above Monticello on the reverse side.
The Face Value Multiplier
Junk silver dealers use a face value multiplier to quickly price bags of coins. For 90% silver coins:
$1 face value of 90% silver = 0.715 troy oz of silver
So: $1 face × 0.715 oz × $32.50 spot = $23.24 melt value
A $100 face value bag ≈ $2,324 in silver
Why Invest In Junk Silver?
- Low premiums — Usually sold near melt value (vs. 20-30% premiums on bullion)
- Divisible — Unlike bars, coins can be traded in small amounts
- Recognizable — Everyone knows US coins; no assay needed
- Constitutional money — Still legal tender (though rarely spent at face value)
- No reporting — Under $10,000, no special tax reporting required
Where to Buy Junk Silver
- Local coin shops — negotiate based on spot price
- Online dealers (APMEX, JM Bullion, SD Bullion)
- eBay — compare prices, buy from established sellers
- Estate sales and garage sales — sometimes found at face value!
- Coin shows — best place for bulk buying
How to Spot Fake Junk Silver
- Check the date — must be 1964 or earlier for 90% coins
- Listen to the ring — silver coins have a distinctive musical tone
- Check the edge — no copper sandwich visible (that's modern clad)
- Use a magnet — silver coins are not magnetic
- Weigh it — genuine coins match published weights precisely
For more testing methods, see our silver identification guide.