What is ‘junk silver’?
What is ‘junk silver’? Junk silver is an informal term used in countries such as Australia, Canada, the United Kingdom and United States for silver coins that are in a fair condition, but that have little if any collector’s value (numismatic value). “Junk” only refers to the value of such coins from the perspective of a coin collector which places a high value on collector’s value (numismatic value). It doesn’t mean that the coins are worth nothing and not suitable for silver investment or silver ownership, especially in the eyes of silver investors who wish to invest in silver in small amounts at a time.
Junk silver has silver alloy contents ranging from 35% to 90% or more. “Any combination of 90-percent silver U.S. coins which have a face value of US$1.00 contains 0.715 troy ounces of 99.9-percent silver (0.7234 troy ounces if uncirculated), except for the silver dollars (Morgan and Peace) which contain .7736 troy ounces of silver. In other words, a full troy ounce of 99.9-percent silver is contained in any combination of 90-percent silver U.S. coins which have a face value of US$1.40” (Wikipedia).