What is “Junk Silver”?

Until 1965, the U.S. Government used to use precious metals (mostly silver) in their coins – especially quarters and dimes.  These coins had real value for their metal, not just what was stamped on the front.  No matter how bad the economy got, the coins themselves couldn’t be worth less than the precious metals they contained.  They are known as “junk silver” because they’re not 99.9% pure silver, and because they were used as actual money, but they are not “junk”.  The silver inside is every bit as valuable, which is why precious metals dealers, collectors, and even pawn shops will pay you hard cash for them based on how much silver they contain, not the dollar value stamped on the front.

Unfortunately, the government stopped using precious metals in their coinage in 1965. Now, every time the government makes more money, the dollars people already have in their wallets are worth less. They don’t even have to print the money anymore – it’s now created by simply changing numbers in government computers. The more money the government creates, the less it’s worth.

Many people are now collecting gold and silver for this very reason – regardless of how strong or weak the U.S. dollar gets, it holds its value. Lots of people collect pure silver coins because they’re pretty. American Silver Eagles are very popular, but for this reason you will pay several dollars more than the silver itself is worth. American quarters and dimes minted before 1965 contain a lot of silver – 90% of the total coin – and you don’t have to pay very much more than what the silver itself is worth when you buy them. It’s a great way to invest in silver without paying extra for fancy designs.

I sell 90% silver U.S. coins when I can find them.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: