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 Replies: 23 / Views: 3,059 |
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Pillar of the Community
United States
619 Posts |
I never liked that term either. The term "junk bonds" used to bother me too, but that refers to the grade (relative safety) of the bond. When it works for your investment portfolio, you are willing to overlook the prettiness of the term. Quote:
As I understand it. It is only called "junk" because it is less than pure .999 silver. With that understanding, a roll of 1916-D Mercs is junk silver. |
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Pillar of the Community
United States
4897 Posts |
^right. That is how I misunderstood it. In my mind it had to do with purity only...I was incorrect in what I was taught 20 years ago! Now the tern bothers me too...lol
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Pillar of the Community
United States
648 Posts |
I like the term junk silver. Just me..
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Pillar of the Community
United States
2600 Posts |
Maybe a more descriptive term would be coin bullion which is what junk silver really refers to. Silver coins that have more value as silver than as a collectable.
As a side note, most of the 90% coin bullion is going into investment bags and not being melted, the demand as an investment tool is very high. My guess is that the 40% stuff is going to melt.
Jim
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Valued Member
75 Posts |
Here is what an ebay bidder explained to me what junk silver means... Quote:Good morning, read your ad title & thought you ought to know that 'junk' silver is circulated 90% US coins - halves, dimes, quarters. It doesn't mean damaged, trashed or poor condition coins. |
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Pillar of the Community
Canada
1733 Posts |
To me, it just means coins that are pegged to melt value. I have a roll of proof like silver dollars from 64, each one is a PL64 or better, however because they are so common, their price is dictated only by their silver content.
Thus they get the designation "junk silver".
As opposed to a roll of say 37's or 38's where the entire price is dictated by their scarcity and has almost nothing to do with the fact that they are made of silver.
I love the term "junk silver" I once bought a bag of "junk silver" and pulled out a very rare dollar.
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Bedrock of the Community
United States
12437 Posts |
"Junk Silver" has nothing to do with the quality of coins, it simply refers to coins that have a silver value in excess of numismatic value. Culls(the real "junk") are not typically included as junk because many culls are underweight from damage or extreme wear. Many dealers will not even buy culls for silver or they may only purchase them at a steep discount. The term does typically apply to the more common 20th century circulated coins but others like Barbers and Morgans can fall into the "junk" category as well. There is no reason to be offended by the term and there is nothing "elitist" about it at all.
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Valued Member
 United States
309 Posts |
I don't think the term itself is elitist, just like anything else, it is all in how you use it. For instance, I wouldn't describe anyone's collection as being junk silver. They put just as much time into it as myself. Just as a matter of interest, my brother intentionally collects the most worn examples of coins that he can find. His only "rule" is that they be identifiable in all aspects. He has plenty of really nice BU coins but the ones he is most proud of are the worn ones. The way I see coins as a melding of two artists (engravers and mother nature), he sees them as a melding of three (engraver, mother nature and father time). The funny thing is that he has no problem finding a '32 Washington but a '64 is much more difficult because they were pulled out of circulation so soon. And the only thing he considers AT is putting a coin in a dryer.  |
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Pillar of the Community
United States
511 Posts |
I agree, Herman. Silver represented honest money even before today's high bullion prices. Post-1965 clad slugs and the current batch of butt ugly $1 brass arcade tokens are junk.
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Pillar of the Community
United States
4008 Posts |
Don't care for the term "junk silver" either. There is no "junk gold", so why should there be junk silver? To me, junk is the old broken ugly stuff that is hauled away and sent to a land-fill. Circulated 90% silver coins are VERY far from junk, IMHO. Most of my 90% silver coins are either BU or proofs... beautiful coins that I very much enjoy getting out and looking at from time to time. Only reason I ever look at junk is when sorting for the recycle bins that the trash guys haul away.  |
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Pillar of the Community
United States
3670 Posts |
We have chatted on this in the past, and I too dislike the term. Sure, you have generic silver if you will and many different levels of silver if you will, for lack of a better word from lesser company's. And perhaps the image is not that attractive or eye catching, but it is 1 oz. of .9999 silver, that is all that matters in the end....
I as well have a friend who collects old Roman coins, and he loves the more popular big name era coins as do most who collect in that genre, via Nero or Caesar. But most I have seen that he is so proud of, and don't get me wrong they are way cool, and an amazing very old piece of history, but not in very good shape, lol. Seems as if a weee bit of circulation may have taken place.
I personally love the look of a perfect coin, via cameo or proof, without a scratch tucked away in a nice airtight case forever, but that is just me. To each his/her own....
Edited by Silverhawk74
05/11/2011 7:34 pm
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Pillar of the Community
United States
2120 Posts |
Just bought 50oz ($70 face) of "junk silver." Was glad to do it, Only paid about a $1 premium per ounce Vs the $4 premium on ASEs and $2 on generic rounds.
If I had another $1800, I would do it again. :D
I definitely agree that with these prices a lot of "junk silver" is going to the melt pot. This is why I prefer 'Classic Silver' coins over generics, Nothing like having two very distinct and separate values on one item.
*EDIT*
I propose that from now on; Any Silver coin previously used in common circulation by any globally recognized Country, Province, State, or Union, with a well known purity, be hence forth referred to as 'Classic Silver'.
Let the term 'Junk Silver' be reserved for Silver that is damaged, vandalized, of unknown purity, or generally undesirable in quality or appearance.
All those in favor, you know what to do.
:D
Edited by Namachieli
05/11/2011 7:55 pm
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Bedrock of the Community
Canada
10743 Posts |
I don't think any of these beautiful metal discs that we collect should be called 'junk'...  |
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Bedrock of the Community
United States
10044 Posts |
I liked the pre-slabbed coin days when nothing was looked at as junk silver b/c they all had their own specific values. If it filled a hole in the book - it could not be considered junk. There was more fun with each coin back then.
Its still fun, but just different from what it used to be.
It will be interesting in years to come to find out what coins have been made scarce by the melting process.
How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Pillar of the Community
United States
3670 Posts |
The funniest part is see the title junk silver, and a 2700 dollar price tag. Yes, way to talk me into that enticing auction with that eye catching lingo. Last time I checked, junk does not have a price tag on it, and if it does it is not much, via pickers, one mans junk is another mans treasure.... I was having trouble selling on ebay, then I dropped the prices and started talking CRAZY, like a car lot salesmen, or that guy who sells the stuff at 3 A.M., yellin about great deals, via just escaped from the strait jacket, and all out of Prozac, so now I am selling at INSANELY low prices! I am not sure if it was the poor attempt at the comedy which makes my occasional sell, or the CRAZY low prices  .... Edited by Silverhawk74
05/11/2011 11:18 pm
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Replies: 23 / Views: 3,059 |
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Posted 05/11/2011 09:21 am
