Junk silver coins are very popular among survivalists who are concerned with future financial and economic crisis as they can be purchased in bags of coins for not much above the spot price and remain legal tender and can be spent in small amounts.Junk silver coins refer to those coins minted prior to 1964 and which contain a certain amount of silver, something today’s coins do not.
The condition of the coins is largely immaterial as it is the silver content people are after not the beauty or even the historical value of the coins.
Junk silver coins have a silver content of around 90 percent. And from 1964 to 1970 silver coins had a reduced amount of silver, down to 40 percent. After that silver all but disappeared except in commemorative coins and special proof issues.
“Junk” really refers to the value of the coins in terms of numismatic collective qualities and not the silver content. A coin collector is generally uninterested in such coins with the exception that you might rarely find a very rare coin in excellent condition. Other than that the coins are bought and sold purely for the silver content and, currently, as the value of silver is rising, so is the price of junk silver coins.
Junk silver prices are tending to rise and so the cost of buying junk silver coins rises too. However the junk silver can usually be bought for a very small mark up or premium over the spot price of silver, particularly during these periods of economic stability.
Although junk silver coin prices remain set to rise as the value of silver rises, they are still an excellent buy for the future whether you are a survivalist or not.
Source: goldprice.org
