In the coin business, "junk silver" refers to circulated U.S. dimes, quarters, half-dollars, and dollars struck in 1964 or earlier. They contain 90% pure silver and 10% copper. Because they are worn from pocket change, they don't have rare condition grades, so they are bought and sold largely on the value of their precious metal.
As a clear rule of thumb: every $1.00 in face value of circulated 90% silver coins contains roughly 0.715 troy ounces of pure silver. With silver at $53.82 an ounce, a single silver quarter holds about $9.62 of silver, and a silver half dollar about $19.24.
However, many buyers simply dump a client's jar onto a scale, calculate the melt weight, and hand over a check. At Arizona Coin & Bullion, we hand-check dates and mintmarks before anything is weighed. That small extra step frequently uncovers coins worth significantly more than melt.
Why Hand-Sorting Matters
To an untrained eye, a 1916-D Mercury dime looks like a common 10-cent silver piece, worth about $3.85 in melt. But in collector circles, the 1916-D is the legendary key date of the series, worth $600 to $1,200 even in worn condition. If you sell by weight alone, that collector premium is lost.
Where to Find the Mintmark
Before checking dates, you need to know where to find the mintmark—the tiny letter that reveals which U.S. Mint facility made the coin:
- No Mintmark (or "P"): Philadelphia Mint (the primary facility).
- "D": Denver Mint (Mile-High City facility).
- "S": San Francisco Mint (West Coast facility).
- "CC": Carson City Mint (legendary Nevada frontier mint; always carries a premium).
- "O": New Orleans Mint (historic Southern branch mint).
On Mercury dimes and Walking Liberty halves, the mintmark is on the reverse (the back) near the rim or branches. On Washington quarters from 1932 to 1964, the mintmark sits on the reverse directly beneath the wreath below the eagle.
The Counter Checklist: What to Look For
1. Mercury Dimes (1916–1945)
Most circulated Mercury dimes are common bullion coins. But inspect every single reverse under good light:
- 1916-D: Only 264,000 struck. The holy grail of 20th-century dimes. Worth $600 to $1,500 even heavily worn.
- 1921 and 1921-D: Scarce low-mintage years. Worth $50 to $150 in circulated condition.
- 1942/1 and 1942/1-D Overdates: A famous wartime die error where the "2" was cut over a "1". Worth $400+.
2. Washington Quarters (1932–1964)
The Washington quarter was first struck in 1932 to celebrate George Washington's 200th birthday. Because the Great Depression was at its peak, mintage numbers for the two branch mints were tiny:
- 1932-D: Only 436,800 minted. Worth $75 to $200+ in average condition.
- 1932-S: Only 408,000 minted. Worth $75 to $200+ in average condition.
- 1936-D and 1937-S: Semi-key dates that carry modest collector premiums over silver melt.
3. Walking Liberty & Franklin Halves (1916–1963)
Half dollars contain 0.3617 troy oz of silver each, making a roll of 20 halves worth over $220 in metal alone. But keep an eye out for these:
- 1921 and 1921-D Walking Liberty: Very low mintages; worth $100 to $300+ in readable grades.
- 1938-D Walking Liberty: Low depression-era mintage; worth $50 to $100+.
- Franklin Halves with "Full Bell Lines" (FBL): Uncirculated Franklins (1948–1963) showing sharp, complete horizontal lines across the bottom of the Liberty Bell carry collector premiums.
4. Silver Dollars (Morgan & Peace Dollars)
Never sell silver dollars at plain "junk silver" melt weight. Every Morgan (1878–1921) and Peace dollar (1921–1935) has numismatic appeal. Look specifically for:
- Carson City ("CC") Morgan Dollars: Struck 1878–1893. Even worn examples command $100 to $300; pristine uncirculated examples can reach thousands.
- 1893-S Morgan: The rarest regular-issue Morgan dollar; worth $2,500+ even in damaged condition.
- 1921 Peace Dollar (High Relief): The first year of the Peace dollar, struck in dramatic high relief. Worth $100 to $250+.
- 1928 Peace Dollar: The lowest mintage regular business strike; worth $200+.
| Denomination | Years Struck | Silver Content | Key Dates to Watch |
|---|---|---|---|
| Dimes (Mercury & Roosevelt) | 1916–1964 | 90% Silver (0.0723 oz) | 1916-D, 1921, 1921-D, 1942/1 |
| Quarters (Standing Lib & Wash) | 1916–1964 | 90% Silver (0.1808 oz) | 1916 SLQ, 1921 SLQ, 1932-D, 1932-S |
| Half Dollars (Walker, Franklin, '64 JFK) | 1916–1964 | 90% Silver (0.3617 oz) | 1921, 1921-D, 1938-D |
| Kennedy Halves (40% Clad) | 1965–1970 | 40% Silver (0.1479 oz) | 1970-D (collector set only) |
| War Nickels (Large Mintmark) | 1942–1945 | 35% Silver (0.0563 oz) | Look for large P, D, or S above Monticello |
What About War Nickels and 40% Silver Halves?
People often ask if regular nickels have silver. Standard nickels are 75% copper and 25% nickel. However, during World War II, nickel metal was needed for armor plating and military tanks. From 1942 to 1945, the U.S. Mint made "War Nickels" out of 35% silver, 56% copper, and 9% manganese. You can spot them instantly: they have a large mintmark ("P", "D", or "S") stamped prominently above the dome of Monticello on the reverse.
Similarly, while 90% silver coinage ended in 1964, Kennedy half dollars from 1965 to 1970 were still struck in 40% silver. They look almost identical to modern clad coinage from the front, but their edge shows a faint silver-gray line rather than copper. We test and buy these every day.
Bring Your Silver to Arizona Coin & Bullion
Don't spend hours squinting at magnifying glasses if you don't want to. Bring your jar, bag, or shoebox of silver coins to our counter in Scottsdale.
We sort the coins in front of you, set aside any key dates or high-grade specimens for individual pricing, weigh the bulk silver on state-certified scales, and give you an itemized cash offer with zero obligation.
