JUNK SILVER COINS
Contrary to what the name suggests, the Junk Silver coins are not totally worthless. In fact, the only reason they are called junk silver coins is because most of them are not in good enough condition to be collected for numismatic purposes. However, they are still silver coins, so they have their own value on the precious metals market. Investors that want to invest in small amounts of silver actually prefer to start with these coins. Quite often, most of these coins are not all pure silver. They often have a range of 35% to 90% silver in them. A large percentage of junk silver coins were produced in the United States, Canada, Australia and the United Kingdom over the years.
The most common junk silver coins in the United States include coins like Winged Liberty Head, Roosevelt dimes, Liberty Head, Morgan, and Peace dollars. The coins that fall into this category were mostly minted before 1965. These coins had different face values in Nickels, Dimes, Dollars. The Jefferson “Wartime” coin, for instance, had 35% silver and its face value was in Nickels.
Junk Silver coins in the United Kingdom include the Edward II coin, George V coin, Queen Victoria. Most of these coins were named after royal personalities and they often exist in different denominations. The coins had their face values in pence, shillings, florins and crowns. The George V coin alone, for instance, had 3 pence, 6 pence, 1 shilling, 2 shillings, 1 florin, half crown and crown denominations. These denominations had silver contents varying from 50% to 92.5%.
The junk silver coins in Canada also had silver content varying from 50% to 92.5% and in different denominations. Other countries like Australia, Switzerland and Mexico also have their own junk silver coins.
Despite the name, junk silver coins are still sought by some collectors because they are often very scarce, making them nice additions to collections. Generally, the coins have very low premiums on them which makes them easy to acquire. However, some of them are still accepted as legal tender in some of the countries which issued them.
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