If you want to buy junk silver as an investment option, it is always wise to first understand the value of the different varieties available.
The term “junk silver” may imply lack of value but this is not so.
This is a term that was coined by coin collectors to define silver coins that have no collector’s value, but is valuable as an investment in the eyes of the investor.
These junk silver coins include old US silver containing coins that were minted before the year 1964.
People with both large and small budgets can use these as a way of investment in silver.
Some of these coins include mercury dimes, Kennedy half dollars, silver dollars, and barber quarters among others.
The buying process of these junk silver coins also applies to buying anything else that is made up of silver.
How To Buy Junk Silver Coins
The first step is identifying which silver coin you want to buy from the large variety of junk silver coins.
The best ones that you may want to give priority to include the Mercury dimes, Morgan silver, Roosevelt dimes, or the Kennedy 1964 half dollars.
Secondly, you will need to make a calculation of the current or the prevailing silver value for the junk silver coins that you have opted to buy.
This calculation can be done by simply taking the prevailing silver price and then multiplying it by 0.07234 for the Mercury dimes or 0.36169 for the Kennedy half dollars.
The result is the spot value of the coin. These fractions are arrived at by taking in to consideration the amount of silver content found in each respective coin.
Good to note is that most dealers charge a premium above the coin’s spot value, usually quoting the price in as face value (for instance the Kennedy half dollar may be quoted as having 11.5 face value)
Next, make a thorough online search for the best junk silver coin values being floated on auctions.
In such auctions, you will come across many dealers who may be selling the coins in small quantities, while at the same time offering free shipping.
Make sure to calculate the spot value of the coins on auction and then place a bid that is slightly above this spot value, while making sure to do this for many different lots.
This increases your chances of winning a number of bids.
Finally, also make sure to locally search for these coins, be it in antique shops, pawn shops, flea markets, jewelry stores or even hobby shops.
Doing so may yield results that offer very competitive prices.
The best part about local searches is that you also get to inspect the coins before you even buy them on top of having the chance to negotiate one on one with the seller.
Some of these offline coin collectors and dealers also have vast experience with these coins and can very much educate you if you approach them
Places To Find Junk Silver
Now that you know how to buy junk silver coins, where do you find and buy them?
A good source to buy junk silver from is Regal Assets. Through their website, you can find a wide variety of junk silver, as well as the amounts of it that you require.
Regal Assets is a reputable source and you can comfortably place your order for junk silver when you’re ready to take the next step.