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What Makes Junk Silver Junk?

 
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 Posted 03/17/2019  3:21 pm Show Profile   Bookmark this topic Add keith12 to your friends list Get a Link to this Message
I hear the term junk silver used a lot here. My ? is how do we keep the hobby going if someone post a cleaned coin and everyone says its junk.

Junk


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 Posted 03/17/2019  3:30 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Junk silver is basically slang for silver that is worth melt. The picture you posted definitely wouldn't come close to junk silver
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 Posted 03/17/2019  3:44 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Of course.
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 Posted 03/17/2019  4:08 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
? is how do we keep the hobby going if someone post a cleaned coin and everyone says its junk.


Somebody calling a coin "junk" is not the same as 90% silver U.S. coinage being called junk silver. Junk silver has no numismatic value. Also being cleaned has nothing to do with it; as noted above junk silver is really just 90% silver U.S. coins being sold at or near melt value.
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 Posted 03/17/2019  4:28 pm  Show Profile   Bookmark this reply Add keith12 to your friends list Get a Link to this Reply
Your not seeing my point. Lets say your a 10 year old kid new to the hobby. Someone gives them say a Franklin half, and everybody tells them its junk. I just think that term is incorrect. If you can read the date its not "Junk". In my Opinion. No coin is "junk" as far as I'm concerned. Would we call a 1774 PO-1 "junk"? I think not. I just think everyone should lay off that term . Thanks for listening
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 Posted 03/17/2019  4:33 pm  Show Profile   Bookmark this reply Add NDBirdman to your friends list Get a Link to this Reply
I'm a rookie and don't get it either. I have seen some coins harshly/badly cleaned that is worth melt. I have seen some coins that eye appeal is greatly enhanced when properly cleaned. I have some in my collection that would have been expensive coins uncleaned, they are not junk regardless of what someone says about them. Beauty is in the eye of the beholder. Way back when, it was acceptable. I say done right, it still is, I'm not snobbish. Again I will say though, some do belong in the silver stack/melt bag unfortunately.
Those that want to continue calling their morgans/franklins junk if it does not fit into their collection, I will give ya'll a dollar each to take your *junk* off your hands.
Rookie with bad eyes, take what I say with a grain of salt and call an expert in the morning!
Edited by NDBirdman
03/17/2019 4:36 pm
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 Posted 03/17/2019  4:57 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
The term "junk silver", often shortened to "junk", has been around longer than most members of this forum. It has a specific meaning and is just industry lingo. A badly damaged common silver coin may be the apple of your eye, but if an experienced viewer believes it is only worth bullion value, then a description of it as "junk" is commonly understood and hardly insensitive.
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 Posted 03/17/2019  5:02 pm  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply
One man's junk is another man's treasure. I just made that up.
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 Posted 03/17/2019  5:23 pm  Show Profile   Bookmark this reply Add JimmyD to your friends list Get a Link to this Reply


Quote:
I just think everyone should lay off that term .

As coinfrog says, the term "junk silver" is a common term long used by numerous countries so I don't think there is much chance of having everyone lay off it.



Quote:
Junk silver is an informal term used in the United States, United Kingdom, Canada and Australia for any silver coin which is in fair or cull condition and has no numismatic or collectible value above the bullion value of the silver it contains. Such coins are popular among people seeking to invest in silver, particularly in small amounts. The word "junk" refers only to the value of the coins as collectibles and not to the actual condition of the coins; junk silver is not necessarily scrap silver.[1]
Precious metals including silver are measured in troy ounces (ozt). A spot price for silver is the price for a troy ounce of silver which is 99.9-percent pure, or 999 fine. Silver coins including junk-silver coins have set silver-alloy contents ranging from 35-percent to 90-percent or more. The term "coin silver," for example, refers to 90-percent silver alloy which was the most common alloy used to mint silver U.S. coins.
Any combination of 90-percent silver U.S. coins which have a face value of US$1.00 contains 0.715 troy ounces of 99.9-percent silver[2] (0.7234 troy ounces if uncirculated), except for the silver dollars (Morgan and Peace) which contain .7736 troy ounces of silver. In other words, a full troy ounce of 99.9-percent silver is contained in any combination of 90-percent silver U.S. coins which have a face value of US$1.40.[3]


Don't argue with an idiot, he will beat you with experience.
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 Posted 03/17/2019  5:24 pm  Show Profile   Bookmark this reply Add jmkendall to your friends list Get a Link to this Reply
I get it.

Yes, most of us think of scrap silver when we think of the word "junk".

However; there are a few..snobs...who really do put other peoples coins down. I've seen newbies post a 64 Washington quarter they got in change...with excitment...only to have someone call it "junk".

So I think the point is well taken. Though I don't know if you can change anything. Those who are already polite and curteous will likely remain that way, while those who are perhaps not aware of their influence on a new member to this hobby, will probably not see the error of their ways.

I think it safest to just ignore those who belittle, and yes it can be belitting, other members coins.

Personally, I think that if you can't say anything good or constructive on a thread, then you should not put your two cents in.

Just my two cents.
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 Posted 03/17/2019  5:29 pm  Show Profile   Bookmark this reply Add llewellin to your friends list Get a Link to this Reply
I agree the terms "junk" and "melt" used to describe circulated silver common dates really rub me the wrong way. It's silver, it's a part of our history, and it's not junk - I can see someone misinterpreting and just spending it after hearing it's junk.

Similarly, using the term melt instead of spot might make someone think that junk silver is better off melted down and refined into a brick. For the vast majority of coins considered junk silver this is certainly untrue - they will always carry a premium above what a refiner would pay, especially given the added costs of removing their copper.
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 Posted 03/17/2019  5:37 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
However; there are a few..snobs...who really do put other peoples coins down.


I see the junk silver term and what you are describing as two separate issues, that said what you have described absolutely does happen and sometimes far to often.

Something that some people often forget is that there is no wrong way to collect as long as someone is enjoying it. It's one thing if people ask for opinions on a coin, but a lot of the time it happens with someone posting a purchase more specifically with moderns and a lot of the time it's because the one commenting isn't aware of the modern market or doesn't deem it worthy.

It's an issue with the hobby in general. Explaining the junk silver term to new people can help with the misunderstandings, but there probably will always be some that take that term further
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 Posted 03/17/2019  5:43 pm  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
Dealers placed the term "junk silver" on coins with no numismatic value over what they would melt for. That said, you can pull coins with numismatic value out of junk silver lots. Dealers toss anything 90% into a bucket that they do not feel is worth their time to package and price.
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 Posted 03/17/2019  5:50 pm  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply
I have this coin :

-

I do not consider this coin as a silver junk .
And I'am very happy to have it.
Edited by Dorado
03/17/2019 5:51 pm
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 Posted 03/17/2019  5:53 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
That said, you can pull coins with numismatic value out of junk silver lots. Dealers toss anything 90% into a bucket that they do not feel is worth their time to package and price.


This. Use someone else's lack of knowledge or laziness to your advantage
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 Posted 03/17/2019  6:01 pm  Show Profile   Bookmark this reply Add USSID18 to your friends list Get a Link to this Reply
Let's put it this way:

If you sell a silver coin for less then melt value, it's really really junk!

If I'm the one buying that silver coin from you, it's a really really great coin!
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