Junk Silver
Junk silver is a general term used to describe non-collectible silver coins minted in the United States and Canada. These coins have been in circulation, meaning they were used as money and treated accordingly, being carried in pockets and purses, and not protected from wear in any way. As a result, they are worn to a point that collectors have no interest in them, so they are called “junk” because of their condition. However, junk is a misnomer because these coins are actually treasure, they are real and true money, unlike what we carry and use today.
The collection of so-called “junk” coins is almost purely for two reasons:
- They contain high percentages of silver (90% in US coins, 80% in Canadian coins).*
- They can easily be used as money again if the current dollars become valueless for some reason. In this case, the fact that they have standard weights and silver contents along with a history of being real currency makes them ideal.
* These percentages apply to most coins, there are some exceptions.