Junk Silver Bags
Junk silver is a great product, but often misunderstood. This was the original barterable silver product. These coins come from the era when the US still minted real money, and they’re worth much more than their modern counterparts."
Junk Silver Coins
United States dimes, quarters, and half dollars minted in 1964 or earlier are commonly called “junk silver.” Because these coins actually circulated for many years, they look weathered and are made of 90% silver for extra toughness. This also means they are excellent for barter. A bag of junk silver will provide you with real silver in a recognizable form that can be easily traded for essential needs in case of a major currency crisis. These silver coins are also a great educational gift to explain the value of real money to friends and family. Many people do not realize that a pre-1964 quarter is worth many times the value of a quarter minted today!
Each coin is composed of 90% pure silver and 10% copper. In keeping with industry custom, SchiffGold offers junk silver bags with $1000 and $500 “face values,” which refers to the nominal price of the coins. These bags contain 715 and 357.5 ounces of silver respectively, which is where the real value resides. To determine how much you are paying for the silver in the coins, divide the price of the bag by the number of ounces it contains – or ask one of our precious metals specialists to give you the price per ounce of silver.
When ordering a bag of junk silver, you choose which size of coin you’d like – dimes, quarters, or half dollars. Half-dollar bags generally carry a higher premium, because half dollars are less common – the US Mint has always produced many more dimes and quarters than it does half dollars.
These are the most common types of coins found in junk silver bags:
- 1916-1945 Mercury Silver Dimes
- 1946-1964 Roosevelt Silver Dimes
- 1932-1964 Washington Silver Quarters
- 1916-1947 Silver Walking Liberty Half Dollars
- 1964 Silver Kennedy Half Dollars
You’ll find the specifications of each coin denomination to the right.
- $1000 face value bag = 715 ozs of silver
- $500 face value bag = 357.5 ozs of silver
- Each coin is 90% pure silver
Mercury & Roosevelt Silver Dimes
- Mercury Dimes minted from 1916-1945
- Roosevelt Dimes minted from 1946-1964
- 0.07 troy ounces of silver per coin
- $1.45 = Value of each silver dime at a $20/ounce silver spot price
Washington Silver Quarters
- Years Minted: 1932-1964
- 0.18 troy ounces of silver per coin
- $3.62 = Value of each silver quarter at a $20/ounce silver spot price
Walking Liberty & Kennedy Half Dollars
- Walking Liberty Half Dollars minted from 1916-1947
- Kennedy Half Dollars minted in 1964
- 0.36 troy ounces of silver per coin
- $7.23 = Value of each silver half dollar at a $20/oz silver spot price
SchiffGold Product Policies
Type of Product
We recommend that serious investors in gold and silver choose only bullion coins and bars. Within that category, buyers are wise to stick with industry standard, nationally-minted coins: American Eagles and Buffalos, Canadian Maple Leafs, Australian Kangaroos, and South African Krugerrands.
Many of our competitors push exotic or commemorative coins, which are sold to unsuspecting investors for 25-30% commissions over the price of the metal they contain. In general, these products are terrible investments and should not be considered if you are looking to protect your savings from inflation.
In gold, we recommend buying these types of products: 1-ounce and fractional gold coins, 1-ounce bars, 10-ounce bars, and 1-kilo bars.
In silver, we recommend buying these types of products: 1-ounce coins, 1-ounce and fractional rounds, 10-ounce bars, and 100-ounce bars. We also recommend junk silver – US quarters, dimes, and half dollars that were minted prior to 1964 and are 90% silver by weight.
While we do not recommend or sell rare or collectible coins, we have access to any and all gold and silver products that might interest you. If you are looking for products not listed on our website, we can usually offer them at prices far below what our competitors would charge. Call us for more information: (888) 465-3160.
Our prices are among the lowest in the business. Owing to the size of our business, we are able to purchase at the steepest discounts and pass the savings along to our customers. We will work hard to earn your business.
In addition to excellent pricing, we provide diligent and attentive customer service. Our clients enjoy exclusive access to Peter Schiff’s insights and recommendations. We custom-build an experience that is suited to your needs. This is what sets us apart from the competition.
We do business the old-fashioned way: providing individual service with a real person. We do not offer online purchases. Many online companies rely on deceptive pricing, hidden costs, or worse. Our prices are transparent and total. Call us at (888) 465-3160 to learn more about how we can help you convert your paper assets into precious metals.
Honesty and fair dealing are the hallmarks of SchiffGold and Peter Schiff. We look forward to earning your business.
Why We Don't Sell Numismatic Coins
We have nothing against collecting numismatic coins for aesthetic or hobby reasons. However, we argue that for two critical reasons numismatic coins are generally poor investments.
First is the mark-ups or commissions. It is not uncommon to see mark-ups of 20% to 35% on numismatic coins. That means that the price of gold has to appreciate by 35% before you break even on a sale.
Would you buy a stock if your broker charged you a commission of 35%? We have our roots in the securities industry, where commissions are far lower, which is part of why we do not sell numismatic coins.
In addition, selling little-known, unusual, or exotic coins may be difficult, or you may have to sell below the market value of the metal. Unless the dealer has an immediate need for the coin you purchased, he may be reluctant to repurchase it from you. In contrast, bullion coins are a fungible commodity for which there is always a ready, liquid, and transparent global market.
Reliability & Integrity
The precious metals field is completely unregulated. Dealers of dubious reputation are not uncommon, as are investing schemes that sound good, but are often rigged to bilk unsuspecting buyers.
In times of economic uncertainty, shady operators take advantage of the urgent and emotional demand for precious metals by jumping into the marketplace. In such an environment it is incumbent on the consumer to only do business with trustworthy companies.
Peter Schiff is Chairman and Principal Owner of SchiffGold. Over the years, Peter has developed a sterling reputation as a no-nonsense straight shooter who zealously guards his public image.
Time and again, Peter has shown his integrity by telling the truth, often at the expense of popularity and potential business. His specific goal with SchiffGold is to bring honesty, integrity, and fair pricing to the business.
Liquidity is an important factor when buying gold and silver. There will come a time when you want to sell your metals. Since we only work with recognizable, highly liquid bullion products, you can sleep easy knowing that the metals you purchased can be easily sold.
Liquidity presupposes a fast and efficient market, which may not exist for so many of the numismatic and exotic coins that are offered by our competitors. Often, the only buyer for your collectible coins may be the dealer from whom you bought them. This is not an ideal situation.
SchiffGold stands ready to help you buy or sell your precious metals. We stand behind everything we sell and are happy to buy back any gold or silver product that you’ve purchased – whether you bought it from us or not.