Junk silver calculator
The market of junk silver coins and how to profit from it
If you are looking to invest in silver, you might have come across the concept of “junk silver.” This is the term used to describe U.S. dimes, quarters, and half dollars from before 1964, as well as various other U.S. coins, which current market value is lower than their silver content value. If you want to explore this business, a junk silver calculator would be very useful, but let’s first take a closer look at this market.
looking for the best Silver Refinery?
Why do people invest in junk silver coins?
This kind of coin is very popular among people who want to invest in silver, especially in small amounts. Before 1964, everyday coins were made of silver, and they are still legal tender to this day, the only change is that with the inflation of the dollar over the decades, the silver melt value of these coins exceeded its value as money. They are referred to as “junk” because they have no collectible value, but that doesn’t mean they are the same as silver scrap.
Many people like to keep this kind of silver investment for its potential use in direct trade. For example, in a financial crisis, these coins might keep their value even if the dollar falls, and therefore they can be useful to buy goods and services. But the largest reason that pushes silver investors to buy them is that silver retains its value over the long term allowing the owners to keep their investments in these private, tangible legal tender containing precious metals with very low risks.
How and what junk silver to buy?
These junk silver coins are usually sold in bulk or “bags” of around 1.000 USD containing a mix of dimes, quarters, and half dollars. Their price is fixed, but according to the variations of the silver price, their value after being bought could increase significantly.
These coins are sometimes called “90%” because the majority of them have 90 percent silver, but you need to know that their content of silver can be as low as 35%. As a general rule, all U.S. coins with a face value above 10¢ that were made before 1965 are 90% silver. But, is there a type of coin that is “best” to buy?
The reality is that the type of coin is not that relevant, yet it is recommended to buy them in bulk, as we mentioned before, because you will most likely pay a slightly lower price per gram. Some specific 35% nickels and 40% half dollars can cost a little more, but they are still convenient to buy. In general, you will find that 90% junk silver coins are more cost-effective.
So, should you buy junk silver?
If you are seeking to invest in precious metals without putting out a lot of money buying, for example, gold coins or silver bars, this can be an excellent opportunity. When you are ready to buy, we highly recommend you keep a junk silver calculator near to help you find the real value of the coins you are buying or selling, and in that way make a good deal.
But, once you have the junk silver coins, what should you do? Some people like to hold on to them and wait for the price of silver to go up and make money re-selling them, but one opportunity that not many people contemplate is sending the coins for melt. In this way, instead of a big bag of old coins, you’ll get a silver bar that can be easily stored and has the same or more value.
If you want to take your junk silver to melt, there are two important things to keep in mind. First, check all the coins you have to determine if they don’t have any collectible value because in that case, it wouldn’t be convenient to melt them. And the second thing is to work with the best silver refinery in the country.
