What junk silver means
Junk silver is a trade term for circulated, common-date coins that are worth roughly their silver content rather than anything extra for collectors. The word “junk” does not mean the coins are damaged or fake. It means they have no meaningful collector premium, so they trade close to the value of their metal.
In the United States the term normally refers to coins from 1964 or earlier that are 90% silver.
Which coins count
The usual categories are:
- 90% silver: Roosevelt and Mercury dimes, Washington quarters, Walking Liberty and Franklin half dollars, and Kennedy half dollars dated 1964. Worn Morgan and Peace dollars are sometimes included as well.
- 40% silver: Kennedy half dollars dated 1965 to 1970.
- 35% silver: Jefferson “war nickels” from 1942 to 1945.
Coins dated 1965 or later in dimes and quarters are not silver. For the year-by-year breakdown, read what year coins stopped containing silver.
How much silver is in $1 face value
The commonly cited silver content in troy ounces of actual silver weight (ASW) is:
| Coin | Silver content (troy oz) |
|---|---|
| 90% dime | about 0.0723 |
| 90% quarter | about 0.1808 |
| 90% half dollar | about 0.3617 |
| 90% silver dollar | about 0.7734 |
| 40% half dollar | about 0.1479 |
| 35% war nickel | about 0.0563 |
For 90% coins, $1 of face value holds about 0.715 troy ounces of silver. So $100 face value holds around 71.5 ounces, and a $1,000 face bag around 715 ounces. A “1 ounce of junk silver” equivalent is a little under $1.40 face value of 90% coins.
How to work out what it is worth
Multiply the silver content by the current spot price. As a purely hypothetical example, if silver were $30 per troy ounce, $1 face value in 90% coins would have a melt value of about $21.45 (0.715 x 30). Substitute the real spot price on the day you check.
Dealers usually sell above melt value and buy below it, so the price you actually pay or receive will differ. Premiums change with demand and with whether you buy a full bag or a small quantity.
Why people buy it
Common reasons include:
- It is priced close to the metal value, so premiums are typically lower than for many newer collector products.
- It comes in small denominations, which makes it easy to sell in small amounts.
- Coins are easy to identify by date and are widely recognised.
These are general points rather than financial advice. Silver prices move up and down, so consider your own situation before buying.
What to watch for when buying
- Buy from established dealers and ask what is in the bag (90%, 40% or mixed).
- Be aware that counterfeits of silver coins exist. Our guide to testing foreign silver coins lists some basic home checks that also apply to US coins.
- Compare the dealer premium over spot with a few other sellers.
When a coin is not just junk
Some coins that look like junk silver carry a collector premium: key dates, scarce mint marks, high-grade examples or error coins. It is worth checking a date and mint mark list before you sell a handful of old coins for melt. For a wider look at silver coin types, see our guide to which coins are made of silver.
Frequently asked questions
How much is 1 ounce of junk silver worth?
It is worth about the spot price of silver, plus or minus a dealer premium. Because 90% coins hold about 0.715 oz per $1 face, you need roughly $1.40 face value to reach one ounce of pure silver.
How much is $100 of junk silver worth?
Multiply about 71.5 ounces by the current spot price, then expect a premium or discount depending on the dealer.
How much silver is in $1 of junk silver?
About 0.715 troy ounces for 90% coins.
What coins are considered junk silver?
Common-date US 90% dimes, quarters and half dollars from 1964 and earlier, plus 40% Kennedy halves and 35% war nickels, which dealers often list separately.