Until recent years, silver was still used in currency and many old coins from around the World contain silver. In this guide, we will talk about silver coins from the USA and their real silver content.
Previously we talked about British silver coins which contain 92.5% silver. Old US silver coins contain 90% silver. This makes them very attractive for investment purposes. Old coins from the USA are often referred to as "junk coins" or "junk silver". Most old coins from the USA do not have individual collectors value as such and are sold in bags by their "face value". For example, a $1000 face value bag of old US silver coins would contain around 715 troy ounces of silver. This would be purchased for spot or around the spot price of silver.
Facts about Silver coins from the USA
Dimes, Quarters, Half Dollars and Dollars
Prior to 1965, the above US coins contained 90% silver
Silver Dime
Halves
From 1965-1970, Halves contained 40% silver
40% silver half
War Nickels
From 1942-1945, 5 cents (War Nickel) contains 35% silver (1.75g silver)
35% Silver war nickel
Buying old US "Junk" silver coins (in the UK)
As the spot price of silver rises, investment bags of silver US coins are more sought after. Popular auction websites are a good place to find junk silver coins but you will often find high premiums. Dealers and independent websites will generally give the best deals on old US silver junk coins. Like all things in life, you will have to shop around to find the best deals.
One UK website which seems to have lower premiums and good stock levels for silver US coins is CoinInvestDirect.com [link].
I always find ebay far too expensive to buy old US coins. There are problems also with buying silver from UK websites. The added VAT.
ReplyDeleteI suppose now is the time to buy, what with the 20% VAT in January 2011.
Ebay is a rip off for junk US coins. The only US coin worth buying is the Eagle.
ReplyDeleteCan you not put the weights like you've done for UK and Canada?
ReplyDeleteThanks for the info on all - much appreciated.
Watch this space for the actual weights. Thanks for the input.
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