The term “junk silver coins” can be very misleading to anyone not familiar with the bullion industry. After all, how could a bag of “junk” be worth anything? Needless to say, junk silver is anything but junk. Junk silver coins are technically pre-1965 dimes, quarters, and half dollars issued by the U.S. Mint. Prior to 1965, the change in our pockets was made largely with silver. After 1965, the mint began producing coins using cheaper metallic components.
The amount of silver in U.S. dimes and quarters was forever altered on June 3, 1965, when President Lyndon Johnson announced a plan to change the composition of U.S. coins to a clad composition. A clad coin has multiple layers of metal usually consisting of an inner layer of pure copper with outer layers of a silver-colored nickel-copper alloy. The change in U.S. coins’ metal content officially took place with the U.S. Coinage Act of 1965 passed by Congress in July of 1965.
Half dollar bags generally have a higher premium than bags holding dimes and quarters as the U.S. Mint has always minted fewer half dollars, even pre-1965. Each of these junk silver bags weigh 357.5 oz and contain half dollars dated 1964 and earlier made of 90% fine silver with a face value of $500. Bags are likely to contain the most common types of silver half dollars including the Walking Liberty, Liberty Head, Franklin, and Kennedy designs. Even pre-1965, half dollars have always been considered perfect for rainy day investments, as they are the least used of all U.S. coins because many automated machines such as vending and laundry machines were never outfitted for their use.
New investors may find junk silver coins an approachable way to start a bullion collection and silver investment. The term junk silver was established in the 1970’s and describes coins that have no collectible value; their worth is only based on the amount of silver each coin contains.
Investing in junk silver coins is one of the least expensive ways to buy silver in smaller, tradable denominations. In addition to investment purposes, junk silver coins can serve as valuable currency in a worst-case scenario. These junk bags are a cost-effective way for investors to add 357.5 oz of 90% silver to their portfolio in one bulk purchase.