Where Do Junk Silver Coins Come From?
Posted by junkgurl in Junk Silver Coin FAQ, tags: coins, come, from, junk, silverQuestion by Chi L: Where do junk silver coins come from?
Where do the junk silver coins that can be bought from shops or online come from? How do they find bags of them to sell?
Best answer:
Answer by BD in NM
Junk silver coins are just well worn specimens. They came from the mint like all other US coins but they have been well used by people and have little or no collector value. The mint made millions of these coins each year up to 1964. Then when they quit making 90% silver coinage in 1965 people started hoarding the older pieces. As time goes by people started gathering a small bunch here and a small bunch there ... now you have bags you can sell.
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90% Silver Junk U.S. Coins,1/2oz+, Pre 1965, Read Description !!!
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90% Silver Coins One Half Ounce -- NICE COINS, NO JUNK (#0407)
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Originally posted 2010-07-18 20:49:24. Republished by Blog Post Promoter
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Just a note to add to BD in NM, dealers bought up the small bags made large bags and found they could make a buck by selling them as bullion. Instead of melting the coins the dealers also knew that silver went up and down so kept them till it went up and resold them. This is not coin collecting but investing.