Question: What is "junk silver"?

RYK

I know that junk silver includes circulated silver Roosies and Wash quarters, but what about Frankies? Do Walkers get a premium over junk? SLQ's? Mercs? Barber coinage? And as silver prices rise, do some of the coins that previously would have sold for a premium over "junk" (ie. low MS Wash quarters, SLQs, etc.) get rolled into the junk category or do prices on these rise?

LindeDad

I thought it was any silver coinage that you could not read the date or had other damage making it basically non collectable.
Or not worth it's melt value.

ms71

Basically, it's whatever goes into the mix trading for the "current multiple" of face value dictated by the silver spot price. As the multiple increases, you see a wider variety of stuff in the mix.

RYK

Basically, it's whatever goes into the mix trading for the "current multiple" of face value dictated by the silver spot price. As the multiple increases, you see a wider variety of stuff in the mix.

Yes, but I (and others) would like to know exactly what belongs in the mix and what does not. For example, you would hate for grandma to bring her silver coins to the shop and be told that seated dollars are also just junk silver and get six-plus times face for them. Where does the line get drawn?

numonebuyer

For me, the line gets drawn at melt value. If any silver coin is only worth the value of silver then it is "junk silver".

carl

Beauty is in the eyes of the beholder. What is junk to one person could be a treasure to others. For instance there are people that buy buffalo nickels with out dates for decorative purposes. I've seen people gladly pay $1.25 to $1.50 for Mercury Dimes also with out dates because they collect Mercury Dimes. What some people throw out, others would gladly buy. Check out ebay.

Gemineye

Nothing Modern.!!!.............................Sorry.......I couldn't resist......................

dizzyfoxx

<Question: What is "junk silver"?>

Silver coins that have been dipped!

ms71

I have no idea in the current market, I just haven't been that close to it. I do remember the 1979-80 hysteria when silver got into the $50 range. The "junk" mix was loaded with Barbers. They seemed disproportionately heavy in the late going because most people had already unloaded their Mercs, Roosies, Washingtons, Frankins, Walkers, Peace, Morgans, and even Standing Libs as the price ran up. It got really crazy near the high, but I don't remember any Seated stuff of any denomination except the occasional damaged piece.

TorinoCobra71

<< <i> Basically, it's whatever goes into the mix trading for the "current multiple" of face value dictated by the silver spot price. As the multiple increases, you see a wider variety of stuff in the mix.

Yes, but I (and others) would like to know exactly what belongs in the mix and what does not. For example, you would hate for grandma to bring her silver coins to the shop and be told that seated dollars are also just junk silver and get six-plus times face for them. Where does the line get drawn? >>



The answer to this question is going to VARY greatly from person to person!

TorinoCobra71

TorinoCobra71

<< <i><Question: What is "junk silver"?>

Silver coins that have been dipped! >>



AHHAHAHAHAHAH DizzyFoxx Strikes Back™



TC71

291fifth

As the price of silver rises, more and more numismatic items see their numismatic value eclipsed by their bullion value. This type of material is "junk" silver. Back in the early 80's many, many low grade Barber coins were melted as "junk." It may happen again to many of the Barber coins that fail to make a "full rims" Good.

pontiacinf

its what I deem "not worth bothering with" and that includes painted silver eagles.

topstuf

There are always a few telemarketer dealers who pay a slight premium for Walkers and Mercs. Maybe not consistently but sporadically. Covina Coin comes to mind immediately.

Weiss

<< <i>For me, the line gets drawn at melt value. If any silver coin is only worth the value of silver then it is "junk silver". >>



Sounds about right.

WWW

Coindexter

WWW - That's pretty darned funny, but would have gotten a better response on the dark side.

RYK, I'll give you a list of "junk silver" as I define it:

circulated late date Mercury dimes (1940s)
circulated Roosies, any date
circulated Washingtons excepting 1932 D and 1932 S
dateless SLQs
heavily circulated (say less than XF) late date Walkers (1940s)
any circulated Franklin half
any 1964 Kennedy half that isn't a blazing gem
cull (worn slick, bent, scribed, gouged, corroded, etc.) common date Morgan and Peace dollars
cull (all of above plus unreadable date) Barber coinage

That is my very general definition of "junk silver," accurate as of 3/25/2006. Hope that helps.

DaveG

I'd agree that the definition of "junk silver" varies with the price of silver.

At $3/oz., not that many coins are "junk", but at $25/oz. a whole lot of coins are "junk"!

majorbigtime

1964 AH Kennedy's, as an example

RYK

Coindexter,

Thanks! That is the answer I was seeking.

Conder101

Simple answer, any coin where the bullion value is 80% or more of the value of the coin has the potential of turning up in the junk silver bag.

fivecents

<< <i>Question: What is "junk silver"? >>

That all depends on how high silver rises doesn't it?? If silver was to hit $50 an ounce the term "junk silver" would include many better date coins.