What Is Junk Silver—and Why Do People Still Buy It?

If you spend five minutes in a coin shop or an online bullion forum, you will hear the term "Junk Silver."

It sounds insulting. Why would anyone buy "junk" to protect their wealth?

But in the world of silver stacking, "junk" doesn't mean trash. It is simply industry shorthand for circulated U.S. coins minted before 1965 that are bought and sold for the value of their metal content, rather than their rarity.

For decades, this has been one of the most trusted, liquid, and practical ways to own silver. Here is everything you need to know about the "junk" that savvy buyers treasure.

The Definition: What Counts as Junk Silver?

Specifically, "Junk Silver" refers to United States Dimes, Quarters, and Half Dollars minted in 1964 and earlier.

During this era, the U.S. Mint made these coins out of 90% pure silver and 10% copper. They were real money—tangible wealth that you could carry in your pocket.

• Dimes (Mercury, Roosevelt pre-1965): ~0.0715 troy oz of silver
• Quarters (Standing Liberty, Washington pre-1965): ~0.1788 troy oz of silver
• Half Dollars (Walking Liberty, Franklin, 1964 Kennedy): ~0.3575 troy oz of silver

Note: Nickels from this era are generally NOT silver (except for the special "War Nickels" of 1942-1945).

Why Is It Called "Junk"?

The term is strictly a grading distinction, not a value judgment.

In numismatics (coin collecting), a coin is graded on its condition. A "Mint State" coin has no scratches and perfect luster. A "Good" coin is worn flat.

"Junk" simply means the coin has no collectible numismatic premium. It is too worn, common, or scratched to be sold as a rare artifact. Therefore, its price is pegged directly to the spot price of silver.

Think of it this way: It's not junk money; it's just "junk" to a museum. To a saver, it's pure opportunity.

Why Do People Still Buy It?

In an era of high-tech ETFs, crypto, and shiny new .999 fine silver bars, why do people still pile up old, dirty sacks of 1964 quarters?

1. It is Fractional by Nature

If you have a 100oz bar of silver, you have a lot of value, but you can't buy a loaf of bread with it. You can't split it. Junk silver comes in small, divisible units. A dime is worth roughly $1.50 - $2.00 (depending on spot price). A quarter is worth $3.50 - $5.00. This makes it incredibly useful for small transactions or bartering.

2. It is Recognized Instantly

Every American recognizes a Washington Quarter. You don't need a chemical test kit to prove it's real. The "clang" of 90% silver is distinctive. This built-in trust makes it highly liquid.

3. Low Premiums (Usually)

Because you aren't paying for "artistic value" or "limited edition packaging," junk silver is often one of the cheapest ways to get silver weight into your hands.

Should You Clean It?

No. Even though buying "junk" implies condition doesn't matter, cleaning coins is universally frowned upon in the coin community. It strips the history (and the "skin") off the metal. Leave them as they are—history and all.

How to Buy It

Junk silver is typically sold by "Face Value". Instead of buying "1 ounce," you might buy "$1.00 Face Value" (which equals 4 quarters, or 10 dimes).

• $1.00 Face Value = approx 0.715 troy ounces of pure silver.

So, if you see a dealer selling "$100 FV Bag," you know you are getting roughly 71.5 ounces of silver.

Summary

"Junk Silver" is the terrible name for a beautiful asset: historical, fractional, recognizable, and tangible. It is the bedrock of many serious silver stacks, bridging the gap between "collecting" and "investing."

Ready to start? Check out our 90% Silver Collection to see what real money looks like.