KGC (God, guns and gold) -- Silver

[KGC4Dixie]

Junk silver is actually a misnomer for coins with 90% silver and 10% copper content. http://www.2-clicks-coins.com/articl...ver-coins.html

"Survivalists, who are ever on the look-out for sudden economic collapse, think it is wiser to devote their finances on silver bullions as well. In such catastrophes, the fiat currency (wherein money used as legal tender is not made of precious metals) will be deemed worthless. Silver, as one of the known precious metals since time immemorial, can then be used as money in exchange for goods and services."
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Junk silver coins may have no value for collectors in a sense that junk silver dollars can be bought without regard for their aesthetic quality – it would not matter much if it’s nicked or scratched on the surface – as long as its intrinsic value is still intact Junk Silver coins - They are usually sold in bags with a face value of about $1,000. Junk Silver dimes are not made out of scrap metal, in contrary to its misleading name. It is made of 90% silver plus 10% copper to make it durable.

Despite its misleading name, junk silver is the colloquial term for circulated silver coins in the United States that were minted prior to the Coinage Act of 1965. Enacted on July 23, 1965, the Coin Act stopped the minting and circulation of dimes and quarter dollars with
90% silver content.

Though they were struck with a 1964 mint date but in truth, some of the junk U.S. silver dimes were minted until 1966.

The year 1965 also marked a period of coin shortage in the U.S. coin history. Subsequently, the Coinage Act also signaled the rise of silver prices. Junk silver coins are also present in Canada.

Today, the circulated coins inside the two countries contain copper and nickel, which are of far lesser intrinsic value. Junk US silver coin - The Kennedy Half Dollar is one of the junk us silver coins circulated before the Coinage Act of 1965. On the obverse is the effigy of Pres. JFK and the reverse bears the eagle.

Junk Silver Coins in the United States and in Canada

The common junk U.S. silver coins are:

• 1916-1945 Mercury Dime • 1932-1964 Washington Quarter •
1942-1945 Silver War Nickel • 1946-1964 Roosevelt Dime •
1916-1947 Liberty Half Dollar • 1948-1963 Franklin Half Dollar •
1964 Kennedy Half Dollar • 1965-1970 Kennedy Half Dollar •
1878-1921 Morgan Dollar • 1921-1935 Peace Dollar • 1971-1976 Eisenhower Dollar

In Canada, most junk silver bullions are those minted before 1967 such as:

• 1920-1967 Dime • 1920-1967 Quarter • 1920-1967 Half Dollar • 1935-1967 Dollar

The Scarcity of Silver Coins

It remains a fact that even though junk silver coins are in circulation, majority of the American population have not seen or beheld any of these silver dimes at all. Junk silver dollars have always been rare since the curtailing of its minting in 1965.

The scarcity of 90% junk silver can be explained through the Gresham Law. It states that when two coins of the same face value but different intrinsic qualities are circulated together, the coin made out of precious metal is more likely to be hoarded. Thus, the one with a lesser value will remain in circulation for the longest of time.

As it happened in American history when the 1965 Coinage Act was passed, the junk coins were instantly swarmed by the fortunate few. The less valuable cupro-nickel coins, although of equal face value with their junk silver counterparts, were the ones left for dispersion.

To counteract the hoarding of the 90% silver bullions, the Secretary of the US Treasury resorted to making clad coins. The latter are coins made by sandwiching a copper core with two metals. Clad coins were not dated earlier than 1965.

Value of Junk Silver Pieces - All silver values are at $10/oz. Like any junk silver dime, its price is higher than its face value. The intrinsic content of the vintage coin is more valuable to investors and collectors alike.

Junk Silver Bags

In buying junk silver, these coins are commonly sold collectively in cloth pouches otherwise known as silver bags. Inside the bag is an assortment of silver quarters, dimes, and half-dollars. Most U.S. junk silver bags have a $1,000 face value. Others are sold in $500 or $250.

Whether it’s a dime or a quarter on the vintage silver’s face value, its metal content remains the same: every piece of junk silver coin will weight 90% silver. Hence, a bag of sterling silver will weigh about 715 ounces of silver regardless of the par value of the coins inside.

Determining Junk Silver Prices

If you have a junk silver piece at hand, here’s a quick guide to determine your junk silver coin’s price.

Take note that all silver values are pegged at $10 per ounce of silver. So to determine the actual value, the silver weight is multiplied by the current spot price of silver.

Coin Silver Content Silver Weight Face Value Silver Value
1942-1945 War Nickels 35% 0.05626 oz. $0.05 $0.56
1916-1945 Mercury Dimes 90% 0.07234 oz. $0.10 $0.72
1946-1964 Roosevelt Dimes 90% 0.07234 oz $0.10 $0.72
1932-1964 Washington Quarters 90% 0.18084 oz. $0.25 $1.81
1916-1947 Walking Liberty Half 90% 0.36169 oz. $0.50 $3.62
1948-1963 Franklin Half 90% 0.36169 oz. $0.50 $3.62
1964 Kennedy Half 90% 0.36169 oz. $0.50 $3.62
1965-1970 Kennedy Half 40% 0.1479 oz $0.50 $1.48
1878-1921 Morgan Dollar 90% 0.77344 oz. $1.00 $7.73
1921-1935 Peace Dollar 90% 0.77344 oz. $1.00 $7.73
1971-1976-S Eisenhower Dollar 40% 0.3161 oz. $1.00 $3.16

So when the price of silver goes up by ten cents, a bag of 90% junk silver coins will rise by at least $70.

Investing in Junk Silver Coins

Would you rather choose a 100-oz silver bar or a bag of circulated 90% silver?

Either of the two will garner the same premiums. But loose silver coins are much preferred by seasoned investors because they can be readily disposed in allotments or in bags whenever the need arises. A junk silver coin has a legal tender.

Survivalists, who are ever on the look-out for sudden economic collapse, think it is wiser to devote their finances on silver bullions as well. In such catastrophes, the fiat currency (wherein money used as legal tender is not made of precious metals) will be deemed worthless. Silver, as one of the known precious metals since time immemorial, can then be used as money in exchange for goods and services.

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"We believed we were right and have not changed our minds." http://groups.yahoo.com/group/Knight...oldenCircleCD/

[Siegfried Schlagrule]

Many inaccuracies in this article. Assuming that your multipliers and estimates are correct the most damaging mistake is the statement that sterling silver is worth the same as 90% silver. Sterling silver is pegged at 92.5 % or 925 fine. You also don't mention the difference between avoirdupois weights 16 oz to the pound and troy weights 12 oz to the pound. If I recollect right there are 14.5 troy ounces in an avoirdupois pound. I'll leave it to each individual to determine which way you want to be buying and which way you want to be selling. Hint - check how many grams are in each. They do not work out the same. siegfried schlagrule

[KGC4Dixie]

Huh? What does any of this have to do with the Knights of the Golden Circle? Spam ppppffffftttt

I guess the article is important for those of us with a jar of KGC coins to redeem.

Gary

[okietreasurehunter]

So Gary are you saying that you have made a KGC recovery that consisted of a jar of silver coins?

[Shortstack]

Huh? What does any of this have to do with the Knights of the Golden Circle?

Spam ppppffffftttt

That was a coded message; you foolish person. The rest of us GOT it, but since YOU don't have the "key", YOU are left out in the cold, cruel world to simply exist........................................or is that "exist, simply"? I can never keep that straight.

[Shortstack]

Huh? What does any of this have to do with the Knights of the Golden Circle?

Spam ppppffffftttt

That was a coded message; you foolish person. The rest of us GOT it, but since YOU don't have the "key", YOU are left out in the cold, cruel world to simply exist........................................or is that "exist, simply"? I can never keep that straight.

cool....my puppet took me off ignore! hey sweet cheeks....let me pull some more strings!

Well, Still Waiting to Recover, I see you STILL have no clue............so, back on "Ignore" you go.

[KGC4Dixie]

So Gary are you saying that you have made a KGC recovery that consisted of a jar of silver coins?

SWR,

If any made the admission of who had KGC coins then someone's secret would be out.

Let's keep some secrets.

Gary

[KGC4Dixie]

Many inaccuracies in this article. Assuming that your multipliers and estimates are correct the most damaging mistake is the statement that sterling silver is worth the same as 90% silver. Sterling silver is pegged at 92.5 % or 925 fine. You also don't mention the difference between avoirdupois weights 16 oz to the pound and troy weights 12 oz to the pound. If I recollect right there are 14.5 troy ounces in an avoirdupois pound. I'll leave it to each individual to determine which way you want to be buying and which way you want to be selling. Hint - check how many grams are in each. They do not work out the same. siegfried schlagrule

Seigfried,

Someone is paying attention. Very well noted.

Gary