Junk Silver
Definition
Junk silver is the common term for circulated United States coins minted in 1964 or earlier that contain 90 percent silver. The “junk” label means the coins have no collectible premium and are valued for their silver content alone.
Junk silver offers a low-premium way to own recognizable, divisible silver in small denominations.
Why it matters
Because these coins are valued by metal content rather than rarity, they trade at modest premiums over spot. Their small face values make them easy to buy and sell in flexible amounts, which appeals to buyers who want familiar, widely recognized silver.
In practice
Pre-1965 dimes, quarters, and half dollars are 90 percent silver. A common reference figure is that 1 dollar of face value contains roughly 0.715 troy ounces of silver, though wear reduces this slightly. Dealers often sell junk silver by face value in bags or rolls.
Common confusion
Junk silver is not numismatic. The coins are worn circulated pieces with no meaningful collector value, which is exactly why their premium stays low. Do not confuse it with key-date or graded coins that command numismatic prices.