The 1965 Coinage Act changed the face of American coins. The days of silver and golden coins were gone. Instead, coins made from copper and nickel took their place. They didn’t disappear, even though silver coins are no longer being made.
These so-called junk coins were saved by many, and people still sell and buy them today. What makes a junk coin? Are they good investments? Continue reading to learn everything you need about these silver coins.
What are Junk Silver Coins?
Many people find junk silver confusing. There are two key factors that will place a coin into this category. However, the definitions can sometimes be fuzzy depending on who is classifying them.
First, you need to know that “junk” does not necessarily mean that coins are worthless. These coins are not worth more than their intrinsic silver value.
Silver was used in all quarters, dimes and half-dollars minted prior to 1965. Collectors can find a lot of value in these older coins, including a rare silver dollar that was sold this year. These coins are called “numismatic”, meaning they have value due to their year, condition, design, or other features.
Junk silver coins are still silver but don’t have much value. These coins are often older and less valuable than other coins. They are great investments because they are easy to identify and contain large amounts of silver.
How can you get them?
There are several key ways to get junk silver coins for your investment portfolio or collection. Each method has its advantages and drawbacks, as well as the time and costs involved.
Searching through coins for silver coins in change is the cheapest and most time-consuming way to find junk silver coins. This is why many people purchase rolls and boxes full of coins from banks. It takes time to find silver coins and most people find their return rate not worth it.
Even if you don’t have rolls of coins to look through, it is worth checking your change for silver. Do not be deceived into believing that all coins are worthless because they are silver-colored. To determine if a coin has silver content, look at its date to check if it was made before 1964.
Many people shop online for junk silver coins. They also come with their own set of pros and cons.
A LCS can provide valuable information about coins and be a great resource to help you get started. They may charge a premium for their coins. Sometimes, they have a smaller selection of coins than many investors want.
Many investors use online shops to purchase their silver coins. Online shopping is easier because there are more options and it is easier to compare prices. Be wary of scams, and be cautious with shady deals!
Are They Good Investments?
Yes, silver coins are great investments. As with all investments, it is important to do your research and understand how to invest.
Junk silver coins reflect not only the silver market’s current price but also the fears of the people about the economy. The general trend is for people to buy junk silver when they fear the economy will fail. Their value fluctuates independently of the dollar because junk silver coins don’t have a dollar-related currency.
You don’t have to be worried about the economy collapsing or the inflation of dollars. There are many people who are. You can reap the real benefits of investing in panic-buy items, and it’s unlikely that you’ll lose your money long-term with junk silver.
You should consider investing in silver as a long-term asset, just like other precious metals. It is very difficult to beat the premiums for buying and selling silver coins within a short time.
Here are some things to keep in mind when selling or buying
Be aware that scammers are out there trying to con you into buying or selling silver coins. Avoid “amazing” deals that promise “rare” coins at high prices. Regular silver coins shouldn’t be expensive.
Be wary of those who offer to pay almost nothing for your coins. They are still valuable even though some look similar to the coins we use today.
It is important to be educated about coins and their values. To get an idea about coin values, you can grab a coin book at your local library or bookstore and flip through it. It doesn’t take much to learn which coins are valuable, but you don’t need to be an expert.
You should also consider the price you will pay, even if there are legitimate sellers in your local area. Many investors prefer to purchase their junk silver bulk rather than buying individual coins.
CMI is a great company for serious investors. CMI requires a minimum order for every order, which allows them to offer a lower price per ounce. They can sell silver coins at a much lower price than you would find anywhere else.
Buy Silver Coins Today
Junk silver coins are a safe and great way to diversify your portfolio. They require knowledge and time to realize their full potential, just like any other investment.
Contact us if you want to know more about silver coins or if you would like to buy some. We are happy to assist you in determining all your precious metal requirements and making sure that you are satisfied with your investments.
Junk Silver Coins: A Good Investment? CMI Silver & Gold: A Closer Look
