90% Silver: A Comprehensive Guide
Introduction to 90% Silver
Introduction to 90% Silver90% Silver, also known as “junk silver,” refers to U.S. Dimes, Quarters, and Half Dollars minted before 1965 that contain 90% silver and 10% copper. These coins are a popular choice among investors and collectors due to their historical value, recognizable design, and silver content.
Why is it sometimes called “Junk Silver”?
Junk Silver is a casual term that refers to any silver coin in circulated condition that doesn’t have any numismatic value above the market price of silver. In 1964 and before, the US minted its coins primarily using a metallic alloy of 90% silver and 10% copper.
Types of 90% Silver Coins
90% silver coins include a variety of denominations and designs, such as:
- Walking Liberty Half Dollars
- Franklin Half Dollars
- 1964 Kennedy Half Dollars
- Washington Quarters until 1964
- Mercury and Roosevelt Dimes until 1964
Other types of 90% Silver Coins exist but aren’t often found being sold as 90% “Junk” Silver, such as 1935 and Earlier U.S. Silver Dollars, 1992-S (and later) Silver Proof Coins, and other miscellaneous older coins that tend to have numismatic value beyond the value of their silver content.
Understanding the Value of 90% Silver
To understand the value of 90% silver coins, you need to know a few key points about their composition and how to calculate their value.
Generally in trade today, 0.715 ozt is used to adjust for wear.
It takes ~$1.40 in Face Value to get 1 ozt of Silver in 90% coins.
Example Calculation
Let’s break down the calculation step-by-step using an example where the spot price of silver is $18 per ounce (ozt):
We use 0.715 ozt per $1.00 face value to account for wear. This means that for every dollar of face value, there is approximately 0.715 ounces of silver.
To find the melt value, multiply the spot price by 0.715:
For example, let’s assume that silver is currently priced at $18 per ounce.
This means that each dollar of face value in 90% silver coins is worth approximately $12.87 when the spot price of silver is $18 per ounce.
What about 40% Silver Coins?
In 1965, to reduce production costs, the US Mint decreased the silver content in coins to 40%. The Kennedy Half Dollars from 1965-1969 contain 40% silver. The only Kennedy Half Dollars produced for circulation with 90% silver were minted in 1964.
(Note: There are modern 90% Silver Coins, but those were never produced for circulation and instead appeared in Silver Proof sets and other collector sets only)
Frequently Asked Questions about Junk Silver
How do you know if a coin is silver or not?
The best way is to check the date on your coin. All U.S. dimes, quarters, and half dollars minted before 1965 are 90% silver.
You can also view the edge of the coin. If you see a solid silver strip, then you can be confident it’s silver. If you see a copper (or reddish) stripe, then the coin is silver clad. If you just see faint traces of copper, then it’s possible your coin is 40% silver.
Selling Junk Silver Coins
Selling junk silver coins is quick and easy. Find a reputable coin or bullion dealer. The buyer will check the dates and weight of your coins to confirm authenticity and then make you an offer.
The amount they pay will vary greatly based on current market conditions and the spot price at the time of sale. Banks do not buy junk silver coins. If you take your coins to a bank, they will swap them out for coins of equal face value, and you would lose out on the additional melt value of your silver coins.
Reasons to Stack 90% Silver?
There are compelling reasons to stack 90% silver, here are just a few:
- Easily Identifiable: 90% silver coins are recognizable and trusted.
- Finite Amount: No longer produced, what exists is all there is.
- Affordable Fractional Silver: It provides a cost-effective way to own smaller amounts of silver compared to fractional bullion coins which often have high premiums.
Reasons to NOT Stack 90% Silver
There are however a few reasons why some might avoid stacking with 90% silver:
- It’s Heavy: 90% silver means 10% copper, making a large amount of 90% coins heavy and bulky.
- Math Isn’t Everyone’s Strong Suit: Calculating value can be cumbersome if you’re not comfortable with math.
- It’s Still Spendable: 90% silver coins are still legal tender, and there is a risk of accidentally spending them as regular currency.
Learn More
For a deeper dive into the benefits and strategies of stacking 90% silver, check out our comprehensive video:
