Junk silveris the everyday name for circulated US coins that are 90% silver — the dimes, quarters and half dollars Americans spent at face value until 1965. “Junk” refers only to their collector value: these are worn, common-date coins with no numismatic premium. Their metal is anything but junk. A single pre-1965 quarter contains about a sixth of a troy ounce of silver.
You will also hear it called constitutional silver or 90% silver. All three names mean the same thing.
Which coins count as junk silver
The rule is simple: US dimes, quarters and half dollars dated 1964 or earlier are 90% silver. Silver dollars (Morgan and Peace) are also 90% but usually trade with a higher premium of their own.
| Coin | Dates | Gross weight | Actual silver weight |
|---|---|---|---|
| Dime (Barber, Mercury, Roosevelt) | 1892–1964 | 2.50 g | 0.0723 ozt |
| Quarter (Barber, Standing Liberty, Washington) | 1892–1964 | 6.25 g | 0.1808 ozt |
| Half dollar (Barber, Walking Liberty, Franklin, 1964 Kennedy) | 1892–1964 | 12.50 g | 0.3617 ozt |
| Dollar (Morgan, Peace) | 1878–1935 | 26.73 g | 0.7734 ozt |
Two near-misses cause confusion. Kennedy half dollars from 1965–1970 are only 40% silver (see our 90% vs 40% guide), and wartime nickels from 1942–1945 are 35% silver (see war nickels). Both are real silver, but they are not what dealers mean by “junk silver.”
The face-value shortcut
Because every 90% coin carries the same silver-per-face-value ratio, junk silver trades by face value. $1 of face value = 0.7234 troy ounces of silver as minted, or about 0.715 ozt after average circulation wear — the figure most dealers use. So a $100 face bag holds roughly 71.5 troy ounces of silver, whatever mix of dimes, quarters and halves is inside.
To price it: multiply 0.715 by the face value, then by the silver spot price. Or skip the arithmetic and use the US silver coin calculator, which applies the live spot price and lets you set a wear allowance per coin.
Why stackers like junk silver
- Low premium. It usually costs less over spot than government bullion coins like Silver Eagles.
- Instantly recognizable. Every US dealer knows a Mercury dime on sight — no assay needed.
- Small, divisible units. A dime is about 1/14 ozt of silver — far more granular than a 1 oz bar or coin.
- Legal tender floor. Worst case, a silver quarter is still worth 25 cents. (It will never come to that.)
What junk silver is not
Sterling flatware (92.5% — see hallmarks guide), silver-plated anything, and 1965-and-later clad coinage are not junk silver. Clad coins have a visible copper stripe on the edge; 90% coins show a solid silver edge. When in doubt, check the date and the edge — details in which quarters are silver and which dimes are silver.
Frequently asked questions
How much silver is in $1 face value of junk silver?
Any mix of 90% silver dimes, quarters or half dollars adding up to $1 of face value contains 0.7234 troy ounces of silver as minted. Dealers usually quote 0.715 troy ounces to allow for circulation wear.
Are junk silver coins worth more than their melt value?
Common dates in worn condition trade close to melt, usually with a small premium that rises and falls with retail demand. Key dates, low-mintage coins and high-grade examples can be worth far more to collectors, so check before selling a roll as bullion.
Is it legal to own or melt junk silver?
Owning it is completely legal, and melting 90% silver US coins has been legal since the Treasury lifted its ban in 1969. In practice almost nobody melts it — the coins trade as recognizable bullion exactly as they are.