History of Inexpensive Silver Coins in the United States

Sometimes referred to as “junk” coins, certain coins produced by the U.S. Mint, prior to 1965, were composed of 90% silver. According to Wikipedia, the most common of these junk or cheap silver coins include:

•         Morgan and Peace Dollars
•         Franklin, Kennedy (1964), Liberty Head, and Walking Liberty Half-Dollars
•         Liberty Head, Standing Liberty, and Washington Quarters
•         Liberty Head, Roosevelt, and Winged Liberty Head “Mercury” Dimes

However, not all years prior to 1965 produced coins that were 90% silver. The website, Silver Coins Today, has a page where you can determine the value of each silver junk coin for each year. It is important to note that these coins are not intended for collectors and have been widely circulated, so many are not in great condition.

Why Buy Affordable Silver Coins?

When you decide to buy affordable silver coins that are “junk” coins, your purchase will yield coins that have two values: first, your coins will have face value, which means if you have a quarter, it is worth $0.25 and can be used for regular financial transactions. Second, your junk silver coins have a second worth: their “melt value,” also commonly referred to as the coin’s “intrinsic value,” which is the amount of silver that they contain. The melt value of any cheap silver coin is based on the price of silver that given day, if the coin were sold to be melted down. For the most up-to-date melt value for various junk silver coins minted in the United States, check-out the above link to Silver Coins Today’s silver junk coin values. Most people purchase bags or rolls of these silver coins and save them by setting them aside for sale at a later date.

How Best to Purchase Cheap and Affordable Silver Coins

Most people who decide to buy silver coins cheaply turn to the internet and online precious metals companies. It is through online stores that the best prices can usually be found. However, before you decide to purchase silver coins inexpensively online, you should look into different companies, investigating their prices for cheap silver coins, as well as their shipping policies, insurance policies, and the reputation of the company in terms of customer service.

Buying silver coins affordably usually means purchasing junk silver coins. Do not let yourself be put-off by the word “junk,” though: these coins have real value, both for the silver that they contain and their face value. As an investment, they are a decent risk, especially for the investor who is looking to start moving into the precious metals markets.

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    Charles loves analyzing the current market trends and shares his insights with the investing community for gaining the right perspective while investing. He is also a visiting lecturer in Financial Management at a renowned university. He can be found on Twitter as @CharlesSMcLain.


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