Homepage / Buying Guide: Junk Silver Guide

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Last Updated on 04/03/2025

Junk Silver Coins
Buying Guide

with a list of Reputable
Junk Silver Coins
Dealers

"Junk Silver" is a term used in the bullion market for old 90%, 40%, and 35% circulated silver U.S. coins produced before 1970 that have no numismatic or collector's value.

The last thing you or I would do is call silver coinage "Junk," but it's a trade name given to these coins by dealers, and it has stuck.

On this page, you'll learn the history of junk silver, why individuals purchase 'junk silver,' and how it is sold to the public by bullion dealers.

Near the bottom of the page is a list of reputable junk silver bullion dealers who offer these coins.

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Identifying
U.S. Junk Silver Coins

A "Junk Silver Coin" is a U.S. coin circulated before 1970, its value is based on the amount of silver contained within it.

There are numerous junk silver coin pictures, similar to the War-Time  Nickel (right) throughout this web page to assist you in identifying pre-1970 silver coins.

When you 'click' on the coin's picture, a link will take you to this guide's Junk Silver Coins page, which offers you more information about each coin.

The Origins of U.S. Junk Silver Coins

Junk Silver Coins are old pre-1970 circulated coins that Americans used in everyday life.

In the 1960s, the Coinage Act of 1965 was implemented in the United States to address coin shortages caused by rising silver prices. The law eliminated silver from dimes and quarters, reduced the half-dollar's silver content from 90% to 40%, and eliminated it by 1970.

The reason junk silver coins are rarely found in circulation today is due to "Gresham's Law." People who recognize that the silver content in pre-1965 coins is worth more than their face value tend to keep these coins. Additionally, dealers often collect them to sell as junk silver.

"Gresham's Law" - named after Sir Thomas Gresham (1519–1579).

The principle of Gresham's Law is that "good money," made of precious metals with intrinsic value, will disappear from circulation, like old silver coins.

Whereas "bad money," like today's paper money, isn't worth more than the value printed on it, although it is more accessible.

Gresham's Law has been in full effect in the United States by Americans saving old circulated silver coins. (dimes, nickels, quarters, half dollars, and dollars)

Since silver circulated coins were last minted in the United States, they have become increasingly difficult to find.

In the 1970s and 80s, if you inspected your loose change, you could still find these coins.

During the 90s and early 2000s, it became harder to find these coins, but if you searched for them in a large jar of coins, you could find them.

Now, it's almost impossible to find these old silver coins in circulation; the only way you can find them outside of purchasing them from a bullion dealer is through a bank.

Some people regularly go to their local bank and buy rolls of nickels, dimes, quarters, half dollars, and dollars to search for old silver coins.

The United States is not alone, Gresham's Law is also in effect in many countries around the world that used to mint circulated silver coins.

Face Value - a True Story

The Silver Coin in the Story
- Obverse Side

An individual walked into a convenience store in Northern Virginia, chose some items to purchase and went to the cashier to pay for the items.

After handing the cashier a ten-dollar bill for his items, the individual noticed that the cashier grabbed a Morgan Silver dollar from the quarter tray of the cash register while making change.

Unable to hold back his glee, the individual immediately knew what the coin was and started to grin as the cashier was about to put it into the individual's hand.

The Silver Coin in the Story
- Reverse Side

The individual couldn't contain his grin. He eagerly anticipated receiving the Morgan Silver Dollar, aware that its intrinsic value was more than 25 cents.

As the individual was about to hand over the change, the cashier noticed his grin and the gleam in his eye, prompting him to take a second look at the Morgan Silver Dollar.

The cashier said, "My mistake, this is a dollar coin," which indicates the 'Face Value' of the Morgan silver dollar; it is inscribed on the bottom of the coin's reverse side.

As the cashier started to put the Morgan silver dollar back in the drawer to get a quarter, the individual said, “I’ll give you a dollar for it.”

The cashier grimaced and shrugged, then said "Okay" and took a dollar bill and handed the silver coin to the individual.

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'Cull' Coins?

"Cull" is a common term used by those who buy and sell junk silver coins.

The definition of a "Cull" coin is a heavily circulated, worn down, or damaged coin that has no numismatic or collector's value.

Cull coins are coins that most collectors wouldn't touch unless the coin has a high-value date, regardless of its condition, or because it completes a collection or coin set.

Junk Silver - Cull Coins

Characteristics of "Cull Coins"

• pitting
• scratches & dings
  
• warn surfaces
• corrosion
• bends
• drilled hole(s) in coin
• irregular shaped coin

A common practice among collectors is that they often add a cull coin to their collection until they can replace it with a better-looking coin.

Grades of junk silver from good to bad:

• AU - About Uncirculated = 95% fine w/ some luster
• XF - Extra Fine = 90% fine
• VF - Very Fine = 75% fine
• F - Fine = 50% fine

• VG - Very Good = 25% fine
• G - Good = 10% fine
• Cull
• Worse than Cull

Junk Silver coin dealers will almost always inform you when the junk silver is better than the 'cull' condition because they can charge a higher premium for the coins.

Junk silver coins labeled cull, worse than cull, or not labeled at all should be priced lower.

However, it is not always common practice for bullion dealers to label the grade of their junk silver coins; some dealers may post the condition of their coins as varied. 

Junk Silver Coins
Priced in Weight, Sold by Face Value

When junk silver coins were minted and circulated, a thousand dollar ($1,000) 'face value' bag of 90% dimes and quarters contained 723 troy ounces of silver. 

But, due to the wear and tear on the coins caused by circulation and time, a thousand dollar 'face value' bag of silver quarters, dimes, or nickels will usually weigh less.

Today, these bags of silver coins regularly weigh around 715 troy ounces because most are cull coins.

On the other hand, silver half dollars and especially silver dollars have retained more of their original silver content and weight over the years.

Due to these reasons, a purchaser may spend a little more for higher denominated junk silver coins than lower-denominated coins because of the amount of silver retained in the coins over the years.

"Face Value"

The term "Face Value" is the coin's legal tender value inscribed on it.

A thousand-dollar face value bag is the most commonly recognized method that bullion dealers use to sell junk silver coin lots.

However, it can get confusing when figuring out how many coins are in a thousand-dollar ($1,000) 'face value' bag.

The list below will help show you how many coins are in a thousand-dollar bag of junk silver coins.

Examples of the "Face Value" (FV) of coins:  

• $0.05 x 20,000 nickels = $1,000.00 FV

• $0.10 x 10,000 dimes = $1,000.00 FV
• $0.25 x 4000 quarters = $1,000.00 FV

• $0.50 x 2000 half dollars = $1,000.00 FV

To help you understand the pricing of junk silver coins, let's say a dealer is selling a thousand dollar ($1,000) 'face value' bag Of 90% junk silver that weighs approximately 715 troy ounces of pure silver. 

If the spot price of silver was $25.00 a troy ounce, a $1000 face-value bag of junk silver coins would cost at least $17,875.00. ($25 x 715 troy ounces).

Junk Silver Percentages (%)

Dealers of Junk silver coins separate the coins by the content of silver contained within them.

These coin bags are sold in lots of all 90% silver, all 40% silver, or all 35% silver coins; ex: all nickel, all dimes, all quarters, all half dollars, or all dollar bags.

Some dealers may blend the 'face value' of junk silver coins, for instance, mixing quarters, dimes, and half dollars that consist of only 90% silver.

Lots of junk silver coins should not be mixed with coins that contain different percentages of silver.

Be aware of any dealers who are offering junk silver bags were nickels are sold in the same bag as dimes and quarters.

Silver War-Time nickels were produced between 1942-1945 and these nickels contain only 35% silver and should not be sold with coins made of 90% or 40% silver.

Furthermore, bullion dealers don't only offer $1000 'face value' bags, although some do, many others offer quantities of junk silver in a variety of coin lots.

U.S. Junk Silver Coins
Weight (oz.) & Percentage  

          Years              Description                    %             Troy Oz  

Please Note: The Eisenhower Silver Dollar coins minted at the San Francisco Mint in 1971, 1972, 1973, 1974, and 1976, were either uncirculated or proof coins and bore the San Francisco Mint's mark of "S" under President Eisenhower's neck.

Pricing Junk Silver Coins

In regards to junk silver coins, a coin's intrinsic value is determined by what it consists of and how much it weighs. 

Note: 1 Troy oz = 31.10 grams

A silver dime weighs:

• 2.25 grams / .0723 oz. (2.25 ÷ 31.10 = .0723 troy oz.)

To figure out the intrinsic value of a dime made of silver:

• Multiply the price of silver X .0723 oz. (troy ounces)

List of Reputable
Junk Silver Coins
Bullion Dealers

Free Shipping on Orders $199+

4.8 star Customer Reviews

BGASC
Junk Silver page

BGASC is one of the largest coin and bullion dealers in the United States.

BGASC offers 90% silver coins in small quantities as well as in bulk coin bags, including circulated 90% silver dimes, quarters, half dollars, Morgan Dollars, Peace Dollars, and more.

'Click the Screenshot' to see all their junk silver options.

Every package they ship is sent fully insured for its time in transit.

Customers across the country have come to recognize BGASC as one of the fastest and most trusted online precious metals suppliers in the U.S.

Free Shipping on Orders $199+

BBB - Customer Reviews

Money Metals Exchange
Junk Silver page

Money Metals Exchange offers multiple-sized bags of junk silver 90% quarter, dimes & half dollars, and as an added service, they provide customers old pre-1982 - 95% copper pennies, by the pound.

Stefan Gleason is president of the Money Metals Exchange, a national precious metals investment company and news service with over 500,000 readers and 75,000 customers.

Gleason founded the company in 2010 in direct response to the abusive methods of national advertisers of collectible, and numismatic coins.

Money Metals Exchange believes the average investor should never purchase precious metals that are not priced at or near their actual melt value.

Savvy, self-reliant investors are embracing Money Metals Exchange as their trustworthy resource for gold and silver bullion.

Free Shipping on Orders $199+

4.8 star Customer Reviews

Junk Silver page

SD Bullion offers 90% & 40% junk silver coins, click the link, screenshot or logo to see if they have the junk silver you are looking for.

SD Bullion is a Precious Metals Dealer located in Michigan and is part of the Silver Doctor's network.

In 2011, two doctors started a highly popular Gold & Silver News website with one dream: To educate the masses on the value of hard assets and preparation.

The rapid success of that website gave way to the launch of SD Bullion.com in March of 2012. 

Since then, SD Bullion has executed more than $2 Billion in sales and hit Inc. Magazines list of 500 Fastest Growing Companies in the United States twice.

Free Shipping on Orders $199+

5.0 star Customer Reviews

SilverGoldBull
Junk Silver page

SilverGoldBull is a Canadian Bullion Dealer that offers bullion investors U.S. Junk Silver Coins and sometimes the unique opportunity to purchase Canadian Junk Silver.

(When available), Canadian Junk Silver comes in 80% and 50% silver coins.

'Click' any of the links in this section to see what junk silver coins SilverGoldBull has available today.

SilverGoldBull.com has tens of thousands of satisfied customers who have taken their financial future into their own hands by investing in gold and silver. 

If you would like to learn more about what their customers are saying about their service, please view their customer reviews (below).

Through Top Dealers in the bullion industry like APMEX and Money Metals Exchange, Walmart offers a variety of Junk Silver Coin lots.

Walmart
Junk Silver page

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Junk Silver Coins Buying Guide

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