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Replies: 23 / Views: 3,052 |
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Valued Member
United States
309 Posts |
I'm not sure what forum this should go in but I just wanted to say, I don't like that term.  Thanks.
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Bedrock of the Community
United States
10982 Posts |
It shouldn't apply to many coins but with metal prices soaring, enormous numbers of very nice pieces fall into the category traditionally called junk silver.
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Valued Member
 United States
309 Posts |
Yep, and after the past couple of months, coins that were not necessarily considered to be junk silver, all of a sudden they are.
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Pillar of the Community
United States
1213 Posts |
Then once all the current junk silver has been melted, the remaining junk silver will become collectible because all of the nice stuff has disappeared.
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Pillar of the Community
United States
1150 Posts |
I think some of the prettiest stuff I have is 'junk.' Each coin is a piece of history...who knows who's pocket it has been in or what it has bought.
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Valued Member
United States
337 Posts |
I wrote a paragraph about this somewhere on a thread! I agree with you. Being that at least 95% of my collections come from roll searching, some of my silver pieces might be considered junk silver. To me they are precious pieces of history. Plus to me junk silver is an oxymoron.
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Valued Member
 United States
309 Posts |
Totally agree chris...I'll have to look for that thread. It also seems to be a way for people who buy their collection, to separate their's from those that put together their collection from circulation. As if you went out and bought it somehow makes it better. It got under my skin when I read a posting by someone else that sounded all coin collector elitist because they don't collect junk silver.
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Pillar of the Community
United States
4897 Posts |
I think we are missing a point. Junk does not refer to the quality of the coin. As I understand it. It is only called "junk" because it is less than pure .999 silver. At least that's how it was explained to me years ago. So even the top rated registry set of Morgans is made up of "junk" silver. It is a refiners term.
Edited by amida17 05/11/2011 09:05 am
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Pillar of the Community
United States
4897 Posts |
Well. After a wiki search. I guess I am wrong! Oh well..not the first time. I still like the my definition better.  Sorry for wasting your time!
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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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Replies: 23 / Views: 3,052 |