You may have heard of the increasing scarcity of “junk” silver, which generally refers to pre-1965 US dimes, quarters, and half-dollars that contain 90% silver. The scarcity indicates people are stockpiling, and so it might not be long before you get the opportunity to actually transact some barter business with junk silver. Some clients have asked us to walk them through the process of calculating the actual value these old coins.
Let’s start by using the round number of $20 for the silver spot price. The spot price reflects troy ounces, which measure about 31.1 grams. A Mercury dime contains 90% silver and weighs 2.5 grams.
2.5 grams ÷ 31.1 grams = 0.08
The dime is about 8% of a troy ounce.
0.08 x $20 = $1.60
If the dime were 100% silver, it would be worth about $1.60.
0.9 x $1.60 = $1.44
At 90% silver, the Mercury dime is worth about $1.44 when the silver spot price is $20.
You can do these same calculations for the silver quarter when you know that it weighs 6.25 grams, about 20% of a troy ounce:
0.20 x $20 = $4.00
0.9 x $4.00 = $3.60
At a silver spot price of $20, a pre-1965 silver quarter is worth about $3.60.
Keep in mind that the other 10% of these coins is composed of copper, which is also an expensive metal, if relatively cheap compared to silver. If you’re doing a bigger transaction with junk silver, you might want to add the value of the copper to your calculations.
Of course, for most people, doing these sorts of calculations on the fly is cumbersome and they’d prefer to use a calculator. If you’re dealing with someone unfamiliar with the use of silver, then the transaction can become even more tedious as you walk him or her through the process.
A much more straightforward alternative to junk silver is fractional silver rounds. These are privately minted rounds that come in weights such as 1/2, 1/4, or 1/10 of a troy ounce. They are made of .9999 pure silver and clearly labeled.
Because of this, their value is far easier to calculate. For example, with the 1/2 troy ounce rounds found in our newSilver Barter Bags, you only need to know the spot price of silver and divide it by 2 to figure out the value of a single round. Easy!
Take a moment to view Peter Schiff’s live video demonstration of the Silver Barter Bags:
FAQs
Multiplying your collection's weight by the current price of silver will yield the total value of your junk silver. For example, if you have 71.5 troy ounces of silver, and the current spot price is 32 dollars, then your junk silver is worth (71.5 * 32) or $2288.
How to calculate junk silver coin value? ›
Multiplying your collection's weight by the current price of silver will yield the total value of your junk silver. For example, if you have 71.5 troy ounces of silver, and the current spot price is 32 dollars, then your junk silver is worth (71.5 * 32) or $2288.
How to determine the value of silver coins? ›
Weight. The weight of your coins is probably one of the most accurate ways to tell if your silver coins are valuable. Since the silver market is measured by weight, you can look at the current price of silver and use that to determine your coin's value based on how much your coins weigh.
How to calculate the value of silver? ›
The formula is: rate of silver per gram x weight of silver x purity of silver.
How much junk silver equals an ounce? ›
Since you can't have half of a coin, rounding up means it takes six silver quarters to make more than a troy ounce. To add up to an ounce of silver, it takes three pre-1965 half dollars, six quarters, or 14 dimes.
What is a fair price for junk silver? ›
US 90% "Junk" Silver Bags
| Bag Size | Price per $1 Face | Total |
|---|
| $100 Face | $22.40 | $2,239.70 |
| Qty |
| $250 Face | $22.40 | $5,599.25 |
| Qty |
4 more rowsThe value of a coin is based on its date, mintmark, mintage, and condition. Run an online search to identify what kind of coin you have, then contact a local coin dealer to assess your coin's value. Check recently sold eBay listings to see what people are paying for your coin type.
How can I find out how much my silver is worth? ›
How Much is Silver Worth? If you've identified your silver as sterling silver or have found its level of purity, determining its value is relatively simple. If your piece has a lower purity than sterling silver, multiply the percentage by the weight, and multiply that product by the current price of silver.
How do pawn shops calculate silver value? ›
Do pawn shops pay based on the silver content or the face value of the coin? Pawn shops typically pay based on the silver content of the coin rather than the face value. The value of the silver content is determined by factors such as the purity of the silver and the weight of the coin.
What is scrap silver worth today? ›
Spot Prices
| Bid | Change |
|---|
| Gold | $2,319.29 | -$39.12 / -1.66% |
| Silver | $29.54 | -$1.19 / -3.87% |
| Platinum | $987.84 | +$10.71 / +1.09% |
| Palladium | $940.86 | +$25.10 / +2.70% |
$10 Face - 90% US Silver Quarters (Random Design)
| Qty | Check / Wire | Card / PayPal |
|---|
| 1+ | $237.32 | $247.21 |
Live Silver Price
The current price of silver is $29.55 per troy ounce. Silver's price is down 3.86% from the previous trading day. Historical data below: Tip: Click the 'Advanced' button below the chart to access technical indicators and oscillators.
How much is a pre-1965 dime worth? ›
On the open market today, you can expect to find Roosevelt Dimes ranging in price from as little as $1 to as much as $4 in absolutely pristine condition. Some other editions of the coin sell for even higher prices in excellent condition, but most often you will come across the $1-$4 price range.
What is the value of scrap silver coins? ›
Melt Values of U.S. Silver Coins
| Coin | Composition | Melt Value Updated 6/22/2024 |
|---|
| Morgan Dollar (1878-1921) | 90% Silver | $22.91 |
| Peace Dollar (1921-1935) | 90% Silver | $22.91 |
| Eisenhower, Silver (1971-1976) | 60% Copper, 40% Silver | $9.36 |
| American Silver Eagle $1 (1986-Date) | 99.93% Silver | $29.62 |
13 more rowsTo calculate the melt value of this coin, you simply multiply the silver weight times today's spot price.
How much silver is in $10 junk silver? ›
$10 Face Value Circulated "Junk" 90% Silver Coins Details:
Contains approximately 7.15 troy ounces of silver.
How much silver is in $100 face value junk silver? ›
Junk refers to the collectible value of the coin. These silver bags are a cost-effective way to invest in silver that is also easily divisible. This bag contains pre-1965 silver coins with a face value of $100, for a total of approximately 71.5 Troy oz of silver.
