Pre-1965 US 90% silver coins, often referred to as "junk silver" because they currently have very little or no collectible premium, are a very popular bullion silver investment. Prices on these antique Legal Tender U.S. Mint coins are usually calculated based on the fact that $1,000 Face Value (a full "Bag") yields between 715 and 720 ounces of pure silver if refined.

When first minted, an Uncirculated $1000-F.V. Bag of 1964 and earlier US Dimes, Quarters or Halves contains ~723 ounces of of pure silver. The total weight of such a Bag is actually about 800 troy ounces, the silver being alloyed with pure copper to make it hard enough to wear well in circulation. Because of wear, however, a well-circulated bag of dimes or quarters will net a little over 715 ounces of pure silver. A bag of half dollars will net a little more, maybe 718-720 ounces because half-dollars did not circulate as much as dimes and quarters.

Investors can expect to pay slightly more for half-dollars than for dimes or quarters because of the higher silver content and because half-dollars are more popular. And, fewer half-dollars were minted than were dimes and quarters.

When investing in silver coins, buyers have several choices of 90% silver: "Mercury" Type dimes minted 1916-1945 and the Franklin D. Roosevelt dime minted 1946-1964, Washington Quarters struck 1932-1964, along with 1964-dated Kennedy Half-Dollars, Ben Franklin Halves (1948-1963), and Walking Liberty Halves ("Walkers" 1916-1947). As a rule, circulated Kennedy half dollars and Franklin half dollars carry small premiums over dimes and quarters. However, Walking Liberty half dollars often carry larger premiums.

Premiums on bags of circulated 90% silver coins rise and fall depending on current marketplace supply and demand factors. Two main factors that account for consumption of 90% silver coins are investors that buy and hold the Bags, and the refineries that actually melt down the coinage and refine it to create other silver products (such as bars or jewelry). At times 90% silver coins carry higher premiums than 100-oz silver bars, but sometimes lower, and sometimes about the same.

Because the absolute supply of antique coins cannot be increased by current manufacturing, and since over time many millions of silver coins have been destroyed by refining, US 90% Coinage is increasingly scarce and may in the future become truly collectible!

Investors who have the capacity to store the bags of 90% silver coins should make them their first silver investing choice because 90% coins' premium values often increase during markets where the public is investing in silver as a barter or emergency cash product. In past precious metals bull markets, bags have tacked on premiums of 10-40% over "melt" (intrinsic metal) values!.

*Due to market volatility, these values are estimates only and subject to change based on spot and premium fluctuations.*

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