How does junk silver get into circulation?
moursund
Posts: 3,207 ✭✭✭✭✭
I suppose when old man Jenkins passes away, his big jar of change might get coinstar treatment, or taken to the bank, or given to the grandkids for spending change.
I have a theory, though... I think that many times you find a 90% silver roosie or washington quarter in circulation, it is because some kid pilfered coins from his dad's collection, and spent them without any idea of the value.
It breaks my heart.
am
100th pint of blood donated 7/19/2022 
. Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
. Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.0
Comments
The thing with coinstar is it rejects silver coins. Same with vending machines. So most silver probably comes in through banks or spent at stores.
Most times I imagine the coins are simply stolen and dumped. Other times they are given as gifts or inherited and dumped. Either way, those scenarios would encompass the vast majority of silver finds, in my opinion.
In honor of the memory of Cpl. Michael E. Thompson
At this point, I expect it's primarily kids pilfering a few coins from dad's junk silver coffee can.
My guess is stolen junk silver makes its way to the local coin shop for some quick cash. Even dumb thieves and druggies realize a silver quarter is worth way more than .25 cents.
Dave
Nearly every week my son gets a silver dime or quarter in payment for gas and snacks. All adults. Probably not a stolen unless they are spending it 10-25 cents at a time instead of getting $2-5 each.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I have spent low quality Mercury dimes, Indian cents and buffalo nickels. I think that it helps promote the hobby. Imagine when somebody who has never seen any of these coins finds one. It can spark interest in coin collecting
I spent 4 SBA dollars the other day for a coffee. The girl working the register liked them.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
The last few years it’s been encouraged to put old coins in circulation during national coin week
🎶 shout shout, let it all out 🎶
@Jzyskowski1 i don't even know when that is LOL. I have also put those coins in rolls and sent em to the bank. I figure it has to spark interest somewhere down the line.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
🎶 shout shout, let it all out 🎶
I spend (tip jars) Ike dollars and worn down buff nickels, and maybe a worn out indian cent... but I just can't see giving away silver
@moursund a few silver dimes here and there. Not really worth all that much. Its like giving a $2 tip almost.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
I occasionally get silver in change.... often a Rosie in the Coinstar reject slot.... In change it is usually a quarter or war nickel. All the above thoughts of how it gets there, certainly apply. And some pieces just continue to slip by. Many people do not know of the value, do not recognize the difference, and/or just do not care - and that is the majority of people. Cheers, RickO
I believe that when a coin collector passes away, a family member who knows nothing about coins, spends them.
Also, so many billions of these coins were produced, it is inevitable that some slip through the cracks, and end up back in circulation.
I do not believe that most of them are stolen. Just spent in ignorance, in error, or deliberately.
I spent some Sacs at the grocery store and the checker got disgusted with me. I was thinking of asking her out on a date but no way is that going to happen now.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
... Because you won't date someone if she doesn't enjoy Sacs...
to non collectors they are just coins to be spent
Aug 11th
Love it when people put back into circulation some "hidden value
coins".
Someone's donated bullion dime or quarter becomes another persons treasure.
Helps keep those coin roll searches alive.
Wayne
Kennedys are my quest...
It could be anything then people ignorant of coin values release / spend them. If you do get one in change just be grateful. It’s been ages since I got one.
Last time I got one was a dime and that was over ten years ago. Really wanting to find silver in change again.
I guess these are all possibilities, but what about the fact that Billions and Billions of silver coins were at one time in circulation and that there is no mathematical way in heck its ALL been removed. Just saying....
WS
Exactly! Is it naive to think that many have just flown under the radar for 57 and plus years. Is the silver jar half full or half empty?
Sometimes people don't know what they have.
Years ago I walked into a bank and went up to make a deposit. There were 19 rolls of half dollars laying in front of the teller behind her thick plexi-glass shield. I leaned over and looked at the end of one of the roles and saw Benjamin Franklin looking back at me.
I asked her what they were going to do with them, and she said, "Put them in the vault." I asked if I could buy them, and she said "Yes." I got 19 rolls of 90% silver half dollars at face value.
I went though them and found about ten coins that had a numismatic value. The rest were junk silver.
Two rolls were an original run of 1962-D half dollars in BU. I learned why that date is expensive in MS-65. All but three or four only graded MS-60 to 62. They were poorly struck, and not well made despite the fact that they were Mint State. There were a few that made MS-63. One was, perhaps, an MS-64.
Obviously someone had deposited these pieces not knowing what they were.
This kind of story is like when people tell you about the free upgrade to first class they got when they were travelling to India or whatever. Wish it would happen to me...
Time Travelers that don't know that silver coinage for circulation was stopped after 1964?
"When they can't find anything wrong with you, they create it!"
Yes, a few will get into circulation this way and a few will have been stolen or pilfered but the vast majority are just coins that were respent after they were found because it was easier than taking them to a coin shop, got in accidently, or were spent from a foreclosed mortgage/ home dissolution. Numbers of silver coins went way up in 2008 and went up a little with covid.
If the coins were stolen there would be more high grades and better dates but almost all look like the junk that was circulating in 1965. If they had circulated a long time they'd be worn out. If they had sat for 50 years in a jar they'd be very dirty.
People would be surprised just how few coins sit out of circulation for any length of time. Sure, pennies can sit out for 50 years once in a while but almost no quarters sit out for even 10 years as proven by the fact that almost every quarter more than 20 years old has almost the same amount of wear as every other quarter of that date. Indeed, most coins that are sitting instead of in commerce are held by the FED and they "never" hold a quarter more than three years.
Nickels will sit a little but dimes and quarters do not. They don't move fast any longer like in the '50's but they don't sit still. Any silver that gets mixed in will be found very soon.
Cladking... Sure, pennies can sit out for 50 years once in a while.
Hence, the reason I search for them. MS68 zinc cents are elusive yet abundant. Try finding a 30 or 40 year old quarter even in 66.
At bars like the rest of us
11.5$ Southern Dollars, The little “Big Easy” set
I have never been lucky enough to get much silver from circ, once at BOA I had to cash a check and needed some funds on a sat, went over to the branch that was open, and looked over the counter and happen to see a whole roll of silver halves in tray. I asked teller for some halves, and got basically a roll of 90%. Over the years, i have had some customers who do roll search get lucky and get a few mixed rolls with silver. and one got about 15 rolls of 40%.
Now the big one: True story, about a 1 1/2 ago, some family inherited a pile of silver coins, not knowing what they had , they went to a local bank in HopeMills, NC and cashed it all in. There was just over 10k face in silver. Only about 1800 of that was 40% , the rest 90. I know, because I bought the 40% at the time from the a lady that worked on the front teller counter line. Her branch manager got all the 90% , I never saw that.
Because you won't date someone if she doesn't enjoy Sacs...
Furthermore, Sacajawea was better lookin' than her and I think she was jealous about that. In any event, it's her damn job to take a legal tender with a smile on her face. She made an insulting remark to me about how I was trying to impress folks with my "gold" dollars.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein