What Is Junk Silver? Tips To Buy It
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- čas přidán 1. 02. 2019
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If you own it and i'm trying to buy it, it is junk silver. After i buy it from you, it is 90% constitutional sweetness!! ✌
lol Good point!!
SalivateMetal what you have is not junk silver. Junk silver is average circulated. You have standing liberties in VG to fine condition. That is called semi numismatic. Meaning it sold on condition and details of the coin not weight. You clearly on not very educated on the difference between semi numismatic coins and just junk silver. Junk silver is no more than cull condition hence the reason why they call it junk. I would love to buy some of those coins off of you because I know I would get some nice ass coins for low premium considering you think all junk silver is measured by weight. Smh 🤦♂️
Junk silver is my favorite. I just love filling crown royal bags and playing with my silver haha
“Crown royal bags” lol
I hope you are making good use of the CR.
I don't like the term either. That "junk silver" looks better than regular bullion rounds and bars. You can't beat the history behind constitutional silver!!!!
Very true!
Junk silver would have worked during your Great Grandma's time.
House Resolution states minted US coins to be used must have .999 purity.
Junk silver just became obsolete as for usage as coinage.
If the Junk dime is .999 it might be still usable in a currency crash.
@@billrundell2097 Nah.
Bill
I had a professor years ago that worked for the federal reserve. He said he audited a bank once and was surprised that some of the equity wasn’t fiat dollars, but actual silver coins. Junk silver and gold that’s legal tender is still great because I’m sure they revalued that over the years based on the metals content not the $20 face value of a gold coin etc.
The other week I stopped at the bank asked for halves. They only had two rolls, or $20 dollars worth. But, one roll had four 1964 Kennedy's! I was ecstatic!
NICE!!!
I honestly think that foreign junk Silver is some of the most underrated Silver out there. It makes up most of my stack, and that's because I get the stuff at or even under melt.
It's great. I have some as well. Just hard to liquidate
Perfect eh !
Great 101 type overview, always new people learning and coming onboard! Well done.
Regarding 9:09 slick or badly worn coins, these have lost surface detail and weight through abrasion. This wear increases the more a coin has been circulated. However in olden days, profiteers used to gather a bunch of silver coins into a container and shake them vigorously in order to deliberately abrade them. Then they would gather the silver dust collected at the bottom of the container and melt it down as bullion. Similarly “sweating” was another process which used acid to dissolve some of the surface of silver coins. Then the silver leached into solution was chemically precipitated out and melted down as bullion. Then the degraded silver coins would be passed along to unsuspecting recipients at the coins' face value.
Thanks for the information.
That’s actually interesting to know
Pretty interesting. Reaffirms silvers true historic value as well.
Thanks for all the useful information Sal! I've been picking up some flawed proof quarters on the cheap.
I don't care if it's called junk silver or constitutional silver as long as I can buy it for a good price.
Same here Andre.
Same here 👍
Amen!
I've never hear of it referred to as spending silver, but it is a good term. I have always loved the term constitutional silver tying it to the constitution. It is hands down my favorite type of silver to stack, I pick up $10 in face each week. It is part of my stacking goals for the year.
Awsome my friend. A great goal to add that much each week.
Great to see you again old friend. Sure miss you a bunch now.
Cool video, my friend!! Nice examples from your collection. I’ve been harvesting “junk” from bank rolls and am enjoying the ride. You’re right about cherry picking the best examples when the opportunity is there. I’m happy to find silver in rolls. I like the variety of what I find ...and getting them at face value is sweet. Thanks for the show
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As always, good info Sal. Thanks. Another tip when buying constitutional silver, is bring a strong magnet to check the Morgans and Peace dollars. I see a few fakes mixed in the culls bin sometimes.
I really needed to see your video. No one talks about the loss of silver in wear when you buy it. Thank you for clearing that up, you saved me a lot of money in the future.
Thank you for taking the time to watch.
@@SalivateMetal - I found a dealer on line who sells junk by weight not face. Thanks again.
*Very nicely done, Sal! Quite informative and detailed; thanks for fulfilling my request!*
Thanks so much for watching.
Always a wealth of information. Thanks Sal!
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Constitutional silver is my favorite form of silver. It is perfect for stacking on a budget. A one ounce silver round usually carries a larger premium. As a kid I didn’t have much money to buy larger quantities of silver, so looking for the best value I started cherry picking boxes is 90 % at LCS. Today I have several complete sets of Constitutional silver coins. After building relationships with the store, quite often the would sell me used Dansco albums really cheap. Of course I had to buy the key dates at higher prices. Fifty years later I have built lots of priceless memories and relationships with lots of people. So when i see that kid setting over a box of 90%, I think of the hours of legal , social skills building, and basic budgeting skills being developed in what could be a problem child. No it’s not JUNK.
The #1 reason I started to stack was because of constitution silver. The Morgan dollar, and Mercury dime both perked my interest. Love me some Junk Silver!
I love junk silver, Constitutional, or 90%. My recommendation would be a varying mix of denominations. This provides future flexibility should SHTF happen. Do yourself a favor and stack plenty of dimes and quarters. Barbers were considered ugly and not collected. That's why they were slick. They were workhorses of commerce during the Industrial Revolution. Nice video, Sal!
Hey Sal, excellent informational video packed with great facts and solid guidance, loved it!
Thank you so much sir!
Great point about trying not to buy Constitutional silver sight unseen! I understand some people may have no choice, but I`m lucky enough to have an LCS that sells for the same price or even on occasion Lower than the Big Boys! Just love cherry picking them, once got a 42s B.U. silver quarter! And you are correct regarding them weighing them, when they purchase them, I've seen our local coin dealer do it many times! Keep up the Great work Sal!:))))
Thanks PTP. So glad you ave a resource there.
Great video! I would like to suggest you do a video, or series, on weights and percentages (and when those percentages changed historically) on various coins from many of the more common world mints such as the U.S.A., Canada, the U.K., Mexico, etc.
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Sal- Thanks for the info and this was a very easy video to follow.... Keep it up and keep on stacking! US
Thank you so much my friend.
Great video. Thanks for all your helpful insights!
Thank you Eric
Fantastic video Sal! It was greatly enjoyed indeed. I love 90% for the historical aspects as well as the more romanticized aspects. It's awesome to hold a coin thats 100 years old or more.
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Excellent Report. I learned a lot Sal. I missed this one and I just found it. Thanks. Out.
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Beautiful stack 👍 I just received a 21 Morgan + a 23 Peace dollar to add to my tiny stack... I also completed my 2nd set of The Four Horsemen. Daughter thinks it's for her , lol. Ever growing with a little help from a friend. Thanks Sir Salivate' !
Awesome additions sir! Thank you.
Love those PILES of Wealth...it's a No brainer to pick this stuff up as the budget allows...Thanks for sharing Sal
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Thanks bud , appreciate the info! U explained that very well.
Thank you sir.
The big money buys certified kilo bars - low premium over spot. We need to examine this .
Regarding 6:30, that "junk silver quarter" is not a quarter at all. Instead it is a 1982-S Commemorative Washington Proof 90% Silver Half Dollar. Their original regular issue price was $10. Since their mintage is so huge @ 4,894,044, their current melt value is $5.82.
Yes, I misspoke there. Meant to say half.
Excellent video, I love Constitutional silver, especially when you find it in your change!
That's the most awesome thing. Never happens to me though.
I work in a casino i always order an extra $100 in change everyday. I went through $180 in quarters today. Didn't find anything but i look daily 😂
I found a silver dime yesterday at the grocery store coinstar machine. Highlight of my day; lol. I think I was more excited finding that little dime than I was finding $200 cash on the casino floor one time. Funny the magic gold and silver has. Goes to show you it's real value vs this paper and plastic stuff we carry around :-)
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@@SalivateMetal I'M putting down the likes From years ago. VIDEOS
At this very moment 👍
Good video Sal. I'm a big fan of Constitutional silver and always aim for the AU/BU specimens. Nothing like a nice roll of frosty Kennedys or Franklins.
MétéoMan Hey MM...how much of a premium are you willing to pay for the AU/BU variety? It seems most people want a nice premium for those types. Thanks!!!
@@TalkingBullion Since I volunteer at a coin shop, I am privileged to get the coins very close to spot.
Indeed! Thank you!
@@meteoman7958 Wow what a great idea MM...maybe I should volunteer 😀
I can`t believe those standing liberty quarters are junk status they are beautiful with nice even wear with a lot of details left. Love your videos sir
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Thanks I'm off to the Antique mall. Home of Junk Silver
I have never seen the state quarters in silver. You have been holding out on us!😱 I have a couple of the Washington anniversary half dollar. Gave one to a friend, got him started. Thanks Sal for sharing. Ps. Really enjoy my beat up Barber coins. Though they are light, I like to imagine all the places they have been.
Awesome. Thank you sir!
GREAT INFORMATIVE ADVICE SAL !! Big help 👌👌👌
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I love Constitutional silver. I buy only online to date, but on the drive home from work I saw a new coin shop open, so I'll have to report back to you on that.
Very nice. Fun to check out new coin shops!
Awesome. I hope you find some good values there.
@ERIK When you do please let us know what they charge. My only LCS wants $12.50 x face, at the time that was about 11-12% premium. Interested to know where other stand regardless of where you live.
@@eddieslittlestack7919 sure thing
Junk silver would have worked during your Great Grandma's time.
House Resolution states minted US coins to be used must have .999 purity.
Junk silver just became obsolete as for usage as coinage.
If the Junk dime is .999 it might be still usable in a currency crash.
Good job! I didn’t hear much about 40% coins or did I miss it?
I am very impressed by your junk stack! Keep up the good work!
I covered it briefly when talking about the war nickels. I stay away from them.
Me too. They offer them for less than spot around here.
I agree Sal "Junk Silver" means salvaged silver to me! Any old bent up silverware or odd ball messed up trinkets... even the gold and silver found in on mother boards in appliances . I hesitate to even call a slick coin junk.
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Great share Sal! I don’t buy constitutional silver, but I keep it when I find it. Maybe this sounds dumb, but I love the slicked up coins. I think it adds character. As I said tho, it’s not part of my stack. Maybe I will add some in the future 👍
That's cool. Yes, sometimes holding the slicks gives you a sense of commerce and history. I understand.
I really liked those proof quarters you showed. Just worth the silver but still very beautiful. 👍
Thanks my friend.
It's easy to see in a plastic tube like what you have your halfs in
This was a great video, great info ! Contstitutional silver baby! Salute!
Thank you Eli!
Thank You for the lesson the one purchase I made online are a bit smooth....
Excellent info thanks
Great video Sal...love the junk | constitutional | 90% silver!!!
Thanks my friend.
thank you sir for an enjoyable bit of informaton, i have just startd coin hunting / collecting, but i don't think i will be on the purchasing end for any of the junk silver, my interest lies in securing my future through sound investmens, procurring such junk through hours of hunting coin roll after con roll, and putting any finds that turn out valuable on the market, in order to upgrade my current collection of fine silver and gold, that's not to say i won't regard the information as sound.
I bought a 1878 CC Morgan dollar on ebay but i had never heard of slicks before this video and now that i look at it again its pretty worn out must be why i got for a cheap price thanks Sal for all the info!!!
Make sure its real. Weigh it.
Thanks my friend. Be careful buying rarer coins on eBay though.
I call it circulated silver as I come from Canada and the early coinage was sterling at 92.5%. It was later reduced to 80% in part to keep the coinage from wearing into "slicks". I also collect circulated silver from other countries as government mints have mandated amounts of silver in their coins. Some like Mexico, Panama and Venezuela have the weights in grams and purity engraved right on the coinage.
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My favorites have got to be:
Quarters = Standing Liberty
Dimes = Mercury
Halves = Walking Liberty followed
You can buy these in circulated pretty much at spot price. If you pay a little premium you can get the AUs
Where or which website do you buy them?
Thanks for another great video!
Thanks my friend.
I buy war nickels at spot or under.
also they have more silver per face value than the 90% stuff
Great video Sal! I wanna say this might of been the first Constitutional Silver video I've seen on your channel?
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Great content!
Nice refresher on 90 percent silver coins. I just ordered some AU peace dollars on Apmex and hope for some nice ones. Never know right? I live nowhere near an LCS so nuff said. peace out
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i think a great tip is to make friends with your LCS. those guys always give great deals.
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Maestro i love this channel from Morocco
Thank you!
Great info sal. I only buy barbers if I can see the Latin on the banner above the eagle.
Great video Sal! I have a very good LCS he charges me $12.70/FV and lets me cherry pick through his stock which has been plentiful when I go see him.😀 thanks for bringing us some more brilliant content👍🇺🇸
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Whats your thoughts on coin roll hunts for silver, in quarters, dimes and nickels? Will the dollar rolls contain any silver or something cool than the fake gold?
Excellent video my friend, you know,alot of people(aside from collectors/stackers) dont know the older coins.When I buy constitutional silver,I stick with Washington quarters,Eisenhower dimes,64 Kennedys,they're the most recognizable
Excellent point. I assume you meant Roosevelts.
@@SalivateMetal oops😄
I've been buying 1962 cameo quarters. are they worth buying? please let me know. thanks
I had too come home too find em in the hood they saved my life when I had nothing is how I see it today it helped me go for silver just looking at the silver dollars
I look for sales and I like constitutional silver too, but what percent do you like to try to keep as a goal (break down) in each -dimes, quarters and halves? Thanks
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Nice vid man
Have been stacking Morgans lately. I prefer gold, but when i go into my LCS during my slow season, I stick to modern sovereign minted silver or Morgans !
Great video !
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3 years old and still relevant, intelligent information.
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i ended up weighing 10 silver quarter slicks against less worn silver and even though it appeared that a half thickness quarter difference was present side by side i found the difference was just 1.5 grams. about .75 cents at 15.00 spot silver if the the coin was pure silver. fugly looking yes but really a non issue IMO.
It's less of an issue in smaller quantities.
Maybe the question might be asked is should you buy constitutional silver? Spending silver? Another good question. Would old money with silver content be accepted for future purchasing payments?
Yes and possibly:)
I believe constitutional silver will prove a VERY useful barter tool when SHTF.
Narmer Man I agree NM!!!
I think theres a small chance of high premiums before hand as well depending on how much time we have. Its easy to view them as surplus now, but not after the last one is bought or melted down.
A generic 1/10th ounce silver buffalo round is currently selling for $3.44 if you pay with credit card... thats $34.40 per ounce.
Now just imagine if the world ran out of constitutional silver and now there was a premium attached to dimes, quarters, and half dollars similar to generic fractional rounds... potentially, junk silver could be selling for close to double spot... Collectable, historic, government backed, and fractional.
Never underestimate the masses... "tulip mania" is a prime example of this.
Im not betting on this. Just a fun thought.
Picked up 5 dollor face value on APMEX. I spent a lil more money for a lil less silver [3.75 oz instead of 4] I thought since it was fractional and a good price I would pick it up over generic 1 oz rounds . I'm new do you think it was a good deal.
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What do you think about Morgans? It’s 90% silver, but unlike other 90% silver the premium are so high. Even higher than ASE.
I talk about that briefly in this video. Sometimes you can find deals on common date Morgans in relatively decent condition.
i have a beautiful collection Kennedy half dollars 33 of them i have one that is 1968D silver beautiful condition
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When I think of old American silver coins, I think Americana and that it is undervalued considering it’s antique and that type of coinage will never be minted again. It’s going to get scarce as time goes by due to melting.
And people hoarding it.
I love the new intro, wish it were a little longer.
Thank you!
Hi Sal. I just found this video & I have a question... Suppose I were to buy a mixed lot of 90% constitutional silver that's circulated (average wear) and I don't want to put it in tubes. Must it be kept in a dry air-tight container, or is it ok to just put it in a box in my safe since it's already been circulated?
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Junk silver is a term born from the coin slabbing companies shifting focus to their product.
Before the self proclaimed experts found a way to profit from coin collectors, every date and mint mark had a value assigned based upon condition, mintage, and how easy or hard it was to find/get. The alleged experts' slabs looked nice and so caught the mob's eye. The hobby was ruined when the focus, over the years, then shifted "upward" so that (with the exception of key coins), almost all coins not in beautiful condition are now valued as junk silver. Its a horrible shame really b/c there are some low mintage (aka scarce) coins out there that get melted all b/c of the artificial market of slabbed coins.
The sad part is that if you slab a coin, break it out, and send it in again for a slab )even to the same company and without altering the coin in any way), it is NOT guaranteed the same grade! Do the homework - this is fact.
Beofore these snake oil salesmen, it was always special to get an S or an O mint mark b/c these mints were famous for making less coinage per year. Hence the coins actually are less in numbers, hence not as easy to get as a P or D. But now theyse more scarce coins are valued the same as a common date/MM and are simply junk silver (if not a key date). The coins are not valued for what they are - they are valued for what they are not - market driven (or almost) perfect specimens in a piece of plastic.
I want to get rid of my slicks, how do you sell them?
silver kennedy halves 40% at spot over the weekend at provident. I will update and maybe post a vid. bought 22 to meet shipping. Though i do agree buying at coin shops after ending up with so many fugly slicks quarters. Last time i snooped at a coin store the fool tried to charge me tax. Not taxable in Texas... tried to play it off when i called him out.
To buy or not to buy? That is the question. I like the Valcambi .999 pure silver cards that can be purchased in various denominations and weights and easily broken into smaller units. No fuss... pure silver. The small premium over Constitutional Silver will easily be displaced by not having to waste your time sorting bickering over values, etc. After all, time is money too.
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Stimmy went towards all Washington's. The bag was niiiiiiiiiice.
Good informative video,👍
This info never ages. i thought i was watching a vid that was posted on 25/09/22. (unless you are watching in the future)...
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I like dimes!
Mercury Dimes.....😁
We have very nice silver in Europe that was in circulation until the 1960's
Junk silver is nice to collect but I would still prefer the bullion or semi - bullion coins. You are getting more silver for your dollar with staying strictly with bullion or semi - bullion coins. The designs on old US coins are cool I must say, better than some of the designs today in some respects. My favourite is the Walking Liberty design on the A,erica Silver Eagle.
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Not just cointracker.com but bluebook with redbook I chose too cross reference
Great video my friend. I don’t like the word junk either, but I dig constitutional silver
Thank you sir!!
Hi *SalivateMetal* I am on a fixed income but want to start collecting silver coins (quarters and dimes) Is there a way to get some without costing a boat load. I do not care how they look as such because I am not looking for a collector coin. Will I be paying quite a lot for Constitutional coins?
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I love the stuff. Always put a few face $1's in orders from Provident.
I just bought 10 face of quarters. I had 1.75 slicks
I like giving my local coin shop business for constitutional silver. Just started stacking in May, one of my goals is $50 face value constitutional, with 100 oz total silver.
Congrats in your stacking journey. Great goals!!
@@SalivateMetal I do have a weird question, does purchasing gold or silver from a specific nation help or hurt them? Fiat currency is basically a ticking time bomb so trading that for gold or silver seems it would be detrimental to whoever you buy it from.
Hey SAL what would you say is cutoff for the Morgan piece dollars? I really like them but from my understanding its3/4 of and ounce but being sold at the price of an ounce? How can I get it lower?
Yes, they do tend to sell at a premium unless you buy them cull or worn. Best bet is to stack halves, quarters and dimes.
I’m a 90% junkie Sal. Great video BUT I find AU/BU 1964 coins as much as 1.5% over and under design weight. Other than putting them on a scale you would never know. Not sure how a LCS would respond if I showed up to cherry pick with a scale.
Awesome my friend!! Well done sir
I wish I could find an LCS
Very helpful video. :)
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sorry i missed your response.. looking forward to your next video about junk silver
I'm with you, don't like the junk silver title and should be called Constitutional silver. Good video.
But we don't have a constitution!
@@CyberCurtainTwitcher I think we should all pool our silver and gold and buy an Island lol.
Thank you sir.
Another fine video you did.....
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it seems that silver dollars cost more by weight than halves, quarters and dimes... is that because of collector values?
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