For anyone considering an investment in precious metals, junk silver coins should be one of the top considerations. Gold and silver have become very popular investments, and when it comes to silver investments there are some additional options.
Junk silver is generally defined as any coins that do not have any numismatic or other collectible value, other than the actual metal content. There are many coins made of silver, and gold, that are worth a lot more than just the value of the precious metal content. The main reason is that they are both rare and in demand by coin collectors.
In the USA, coins used to be minter with silver, rather than the base metals used today. The most coins most commonly minted with silver are the quarter and the dime, but it is very important to know and check the dates of these junk silver coins. Both dimes and quarters that were minted prior to 1964 will contain 90% silver, and this makes them a lot more valuable than the face value.
Nowadays it is very rare to find any of these coins in the change you might receive in stores, but it always worth a look to check if there is a pre 1964 year on the coin. If there is then at todays silver prices the quarter is actually worth over $4 and a dime more than $1.5.
While it is rare to find junk silver in your change, you can buy it through a precious metals dealer in various amounts, and there are some great advantages. First of all, it is a great way for someone with only small amounts of money to invest, to get their hands on some precious metals.
This allows you to accumulate silver on a regular basis, to average out the costs, which is a very common way to spread any price volatility over time. Whenever you accumulate enough savings to buy a small bag of junk silver coins, you can contact a dealer and request however much you can afford.
In addition to being able to accumulate even small amounts, you have the benefit of being able to dispose of even small amounts of silver. If you own one ounce silver coins and 10 ounce silver bars, it is very difficult to sell just small amounts of silver. With a collection of silver dimes and quarters you have far greater flexibility when it comes to selling a specific amount.
Finally, no matter what happens to the price of silver, the coins will always have a minimum value equivalent to the face value. No matter what the age of a US minted coin, it does not lose its legal tender status.
Investing some of your money in silver is a very prudent way to protect your wealth in a world of ever depreciating currencies. Whether you want to have the flexibility of small individual amounts, or you simply do not have enough money to buy larger quantities of newly minted one-ounce coins, then junk silver is something you should consider.