Current Junk Silver Melt Value
"Junk silver" might sound worthless, but it's actually one of the most practical and affordable ways to own physical silver. These pre-1965 US coins contain 90% silver and trade based on their metal content, not their face value. Here's everything you need to know.
In This Guide
What is Junk Silver?
Junk silver refers to US coins minted in 1964 or earlier that contain 90% silver. The term "junk" doesn't mean they're worthless—it means they have no significant collectible or numismatic value beyond their silver content.
These coins circulated as everyday money when US currency was still backed by precious metals. After 1964, the US Mint switched to copper-nickel clad coins (the "sandwich" coins we use today).
Also Called:
- • Constitutional silver (backed the Constitution's monetary standards)
- • 90% silver
- • Pre-1965 silver
- • Survival silver
Types of Junk Silver Coins
90% Silver Coins (Pre-1965)
Roosevelt Dimes (1946-1964)
Most common junk silver. Easy to find, highly liquid.
Silver content: 0.0715 oz per dime
Washington Quarters (1932-1964)
Very popular, good divisibility for barter.
Silver content: 0.179 oz per quarter
Franklin Half Dollars (1948-1963)
Larger coins, good for bigger transactions.
Silver content: 0.358 oz per coin
Kennedy Half Dollars (1964 only)
Only 1964 is 90%. 1965-1970 are 40% silver.
Silver content: 0.358 oz per coin
Other Silver US Coins
- Morgan Dollars (1878-1921): 90% silver, 0.77 oz each. Often have numismatic premiums.
- Peace Dollars (1921-1935): 90% silver, 0.77 oz each. Similar to Morgans.
- Walking Liberty Half Dollars (1916-1947): Beautiful design, often higher premiums.
- Mercury Dimes (1916-1945): Popular with collectors, slight premium over Roosevelts.
- Barber Coins (1892-1916): Dimes, quarters, halves. Older, sometimes worn.
40% Silver Kennedy Halves (1965-1970): These contain only 40% silver (0.147 oz each). They're sometimes sold separately and usually have lower premiums.
Silver Content by Coin
| Coin | Silver % | Silver oz | Melt Value |
|---|---|---|---|
| Dime (1964 & earlier) | 90% | 0.0715 | $7.11 |
| Quarter (1964 & earlier) | 90% | 0.179 | $17.80 |
| Half Dollar (1964 & earlier) | 90% | 0.358 | $35.61 |
| Half Dollar (1965-1970) | 40% | 0.147 | $14.62 |
| Silver Dollar (Morgan/Peace) | 90% | 0.773 | $76.89 |
| $1 Face Value (dimes/quarters) | 90% | 0.715 | $71.12 |
Why Buy Junk Silver?
Advantages
- Recognizable: Everyone knows what a quarter looks like. No verification needed.
- Divisible: Buy milk with a dime, pay rent with rolls of quarters.
- No counterfeiting risk: It's not worth faking 90% silver coins.
- Lower premiums: Often 3-8% over spot vs 8-15% for Silver Eagles.
- Historical significance: Real money from when currency meant something.
- Barter-ready: Ideal for emergency situations or local trade.
- No reporting: No 1099-B reporting requirements for buying/selling.
Disadvantages
- Worn coins: Some coins are heavily worn, reducing silver content slightly.
- Storage bulk: Takes up more space than equivalent value in bullion.
- Harder to sell overseas: Not as universally recognized as bullion.
- Sorting required: You might get mixed dates/conditions.
How to Buy Junk Silver
Junk silver is sold by "face value"—the total value printed on the coins:
- $1 face value: 10 dimes, 4 quarters, or 2 half dollars
- $10 face value: One roll of quarters or two rolls of dimes
- $100 face value: A small bag, about 71.5 oz of silver
- $500 or $1000 face value: "Bag" quantities, best pricing
Tip: Buying in $100+ face value increments usually gets you better pricing. Many dealers offer their best rates on $500 and $1000 face value bags.
Understanding Pricing
Junk silver is priced as a multiple of face value. For example, if a dealer quotes "22x face," you pay $22 for every $1 of face value.
Current Market Pricing
At $99.47/oz spot, melt value is approximately 71.1x face.
Junk Silver vs Silver Bullion
| Factor | Junk Silver | Silver Eagles |
|---|---|---|
| Purity | 90% | 99.9% |
| Premium over spot | 3-8% | 8-15% |
| Recognition | US only | Worldwide |
| Divisibility | Excellent | Poor (1 oz only) |
| Counterfeit risk | Very low | Low-moderate |
| Storage efficiency | Poor | Good |
| Best for | Barter, small amounts | Larger holdings |
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