Junk silver

The most commonly collected junk-silver U.S. coins were minted before 1965 and include Morgan and Peace dollars; Liberty Head "Barber," Walking Liberty, Franklin and Kennedy half dollars; Liberty Head "Barber," Standing Liberty and Washington quarters; Liberty Head "Barber," Winged Liberty Head "Mercury" and Roosevelt dimes; and Jefferson "Wartime" nickels.[4]

Dollars

• Morgan (1878–1904 & 1921) -- 90-percent silver
• Peace (1921–1928 and 1934–1935) -- 90-percent silver

Half-Dollars

• Liberty Head "Barber" (1892–1916) -- 90-percent silver
• Walking Liberty (1916–1947) -- 90-percent silver
• Franklin (1948–1963) -- 90-percent silver
• Kennedy (1964) -- 90-percent silver
• Kennedy (1965–1970) -- 40-percent silver

Quarters

• Liberty Head "Barber" (1892–1916) -- 90-percent silver
• Standing Liberty (1916–1930) -- 90-percent silver
• Washington (1932, 1934–1964) -- 90-percent silver

Dimes

• Liberty Head "Barber" (1892–1916) -- 90-percent silver
• Winged Liberty Head "Mercury" (1916–1945) -- 90-percent silver
• Roosevelt (1946–1964) -- 90-percent silver

Nickels

• Jefferson "Wartime" (1942 (partial)-1945) -- 35-percent silver

The most commonly collected junk-silver U.K. coins were minted before 1946 and include Edward VII, George V and George VI crowns; as well as Victoria, Edward VII, George V and George VI half crowns, florins, shillings, six pences, and three pences.[4]

Crowns

• Victoria(2nd & 3rd portraits) (1887-1900) -- 92.5-percent silver
• Edward VII (1902) -- 92.5-percent silver
• George V (1927–1936) -- 50-percent silver
• George VI (1937) -- 50-percent silver

Half Crowns

• Victoria (1837–1901) -- 92.5-percent silver
• Edward VII (1902–1910) -- 92.5-percent silver
• George V (1911–1919) -- 92.5-percent silver
• George V (1920–1936) -- 50-percent silver
• George VI (1937–1946) -- 50-percent silver

Florins (2 Shillings)

• Victoria (1849–1901) -- 92.5-percent silver
• Edward VII (1902–1910) -- 92.5-percent silver
• George V (1911–1919) -- 92.5-percent silver
• George V (1920–1936) -- 50-percent silver
• George VI (1937–1946) -- 50-percent silver

Shillings

• Victoria (1838–1901) -- 92.5-percent silver
• Edward VII (1902–1910) -- 92.5-percent silver
• George V (1911–1919) -- 92.5-percent silver
• George V (1920–1936) -- 50-percent silver
• George VI (1937–1946) -- 50-percent silver

Six Pences

• Victoria (1837–1901) -- 92.5-percent silver
• Edward VII (1902–1910) -- 92.5-percent silver
• George V (1911–1919) -- 92.5-percent silver
• George V (1920–1936) -- 50-percent silver
• George VI (1937–1946) -- 50-percent silver

Three Pences

• Victoria (1838–1901) -- 92.5-percent silver
• Edward VII (1902–1910) -- 92.5-percent silver
• George V (1911–1919) -- 92.5-percent silver
• George V (1920–1936) -- 50-percent silver
• George VI (1937–1945) -- 50-percent silver

Some Swedish coins with 80% silver content.

Canadian dollar, half-dollar, quarter and dime coins minted after 1919 and before 1967 contained 80-percent silver. Those minted 1919 or earlier are sterling (92.5%) silver.[5] For these coins (1920 - 1966), every CAD$1.00 in face value contains 0.6 troy ounces (19 g) of silver. The 1967 quarter and dime were minted in either 80% or 50% silver. The 50% quarters and dimes continued part way through 1968 until the mint introduced the 100-percent nickel versions of all the coins mentioned beforehand. To tell the 1968 nickel and silver coins apart, the ones made from nickel are magnetic whereas the silver coins are not.

Australian pre-decimal florin, shilling, sixpence and threepence coins minted from 1910 to 1945 contained 92.5-percent silver. From 1946 to 1964, they were minted in "post-silver" coins which contained 50-percent silver. In 1966, the "round" 50-cent coin contained 80-percent silver.[6]

Swiss 1/2 Franken, 1 Franken and 2 Franken minted from 1874 to 1967 contained 83.5 percent silver. 5 Franken minted from 1922 to 1928 contained 90-percent silver and weighed 25 grams (0.80 ozt), and those minted between 1931-1969 contained 83.5 percent silver and weighed 15 grams (0.48 ozt).

Mexico and many other Central American countries made silver coins that are considered junk silver today.

Junk-silver coins may be a desirable method of investing in silver for several reasons:

Low premiums

Coins can often be purchased for little or no premium over the spot price of silver, particularly during periods of economic stability.

Legal tender

In many cases, coins remain legal tender (one notable exception being the United Kingdom, where pre-decimal coinage - including examples minted in silver - was demonetised after the move to decimalisation) and maintain their face value regardless of the price of silver.

Recognition

Coins are familiar and less likely to have their value disputed than silver rounds or bars.

Divisibility

Coins can be easily spent or traded in small amounts. In contrast, minted silver bullion is rarely smaller than a troy ounce, while minted gold bullion (and other precious metals) is highly valued in even small amounts, like the American Gold Eagle coins.

For these reasons, junk silver is popular among survivalists. In the event of a crisis or catastrophe during which traditional currency collapses, it is speculated that silver coins could provide a viable alternative, temporarily or indefinitely, while fiat currency, which is not backed by precious metals or other commodities, has no inherent value and can be subject to extreme inflation, even hyperinflation, similar to Weimar Germany, post-WWII Hungary and, more recently, Zimbabwe's dollar and Venezuela's bolivar fuerte. Proponents of junk silver and other precious metals claim that, while fiat currencies have historically been subject to hyperinflation, precious metals will always have inherent value and can act as a medium of financial exchange when fiat currencies are obsolete.

Some coin collectors and investors are also informally using the term "junk copper" to refer to any copper-bullion coins of no numismatic value.[7] Prominent examples include U.S. pennies minted before 1982 (partial), Canadian pennies minted before 1997, and some pre-euro copper European coins. 154 junk-copper U.S. pennies contain a full pound of .950 fine copper.

• Coin collecting