Sometimes when accumulating silver you just want stretch your dollar as far as possible. One of the best ways to do this is by buying junk silver. The term ‘junk silver’ applies to government minted coins that are made with 40 to 90 percent silver. These coins have no numismatic value outside of the ‘melt value’ of the silver in the coin.
Collecting silver in this way is ideal for stackers. Junk silver is often the cheapest way to purchase silver on a price per ounce basis, especially if you’re hoping to ‘stack’ as much silver as possible.
Some of the most commonly collected junk silver coins are pre-1965 United State minted coins. This includes:
- 1878-1904 and 1921 Morgan Silver Dollars.
- 1921-1928 and 1934-1935 Peace Dollars.
- 1892-1915 Liberty Head ‘Barber’ Half Dollar.
- 1916-1947 Walking Liberty Half Dollar.
- 1948- 1963 Franklin Half Dollar.
- 1964 Kennedy Half Dollar.
- 1965-1970 Kennedy Half Dollar (40 percent silver.)
- 1892-1916 Liberty Head ‘Barber Quarter.
- 1916-1932 Standing Liberty Quarter.
- 1932,1934-1964 Washington Quarter.
- 1892-1916 Liberty Head Barber Dime.
- 1916-1945 Winged Liberty Head Mercury Dime.
- 1946-1964 Roosevelt Dime
- 1942-1945 Jefferson Nickel (35 percent silver.)
Now that we know what type of coins to look for, where can we purchase them? There are several places to buy junk silver. The choice really comes down to the amount that you’re looking to purchase and the time that you have to dedicate to the hobby.
- Online Brokers
- Pawn Shops
- Coin Shops
- Coin Shows
If you’re wanting to make a large purchase that simply isn’t available locally then your best bet might be using an online broker like APMEX.
Pawn shops are great for purchasing junk silver coins from. They generally are farily priced as well. The only issue is that many shops have a limited supply at any given time, if any. So it’s best to only use pawn shops for smaller purchases unelss you have extra time to travel to several stores.
Coin shops are an excellent place to buy junk silver from. Often times you will find a far better selection here as opposed to pawn shops. Smaller coin shops mighy not have huge quantities but often more than enough to fill your order. For a list of reputable coin shops that are dealers of government minted coins click here. (our article)
Coin and antique shows are another excellent avenue for buying junk silver coins. When large numbers of vendors gather at these types of events you can essentially buy until your heart is content and generally at fair prices.
Auction sites like ebay can be perfect for buying junk silver coins you have to take shipping in consideration especially when buying in bulk. Overall the amount of time and energy saved by simple purchasing off of the internet makes it well worth paying the shipping charges.
In the end there are several ways to acquire junk silver for your portfolio, the choice is up to you. If you have the time to browse you can avoid shipping costs by going to local shows and shops. But if you’re pressed for time and don’t mind the shipping charges then a reputable auction site or online broker might be best for you.
Enjoying our content? Check out another article- Should you sell your silver to a pawn shop or silver broker?