What is “Constitutional Silver”?

My LCS doesn't label those bins with any name (constitutional, junk, etc) just separated by denomination. Right now they're about 18x face.

SD Bullion refers to them as Constitutional, Junk, 90 percent, or pre-65. All priced the same, around 19x right now.

I also buy from a local small jewelry shop where people trade these in for cash, and he sells them to a melter. He isn't interested in the coins at all.

I got a whole roll of AU and UNC Peace and Morgan dollars he was just ready to scrap. He refers to these coins as "Melt," and I'm only too happy to buy all he gets!

 

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Yes! Some of us are old enough to remember that. Used car salesmen started calling them "pre-owned cars" because it sounded more expensive.

 

Price is the same, regardless of the name, has been my experience.

 

It's like when people say they want, "Legal Tender" Gold. Do you care from which country it comes from?

 

No different than putting lipstick on a pig.

 

HI Paddy, here is a link to Daniel's web store. https://portsmouthcoinshop.com/
I have watched some of his YouTube channel CoinHelpU and he seems to be pretty honest in his tutorials explaining the things most newbs are not aware of in the coin business. Like me...

 

I’d have a path worn to his door

 

OH man! Lucky you! What a deal!

 

"Taking a constitutional" is also a polite way of saying "gotta go take a dump"

 

I think "Junk Silver" is a way of describing common date U.S. silver coins that are of very little numismatic value above their silver content value. For many common coins that are plentiful in MS grades at inexpensive prices, there really is not much of a collector's market for coins of the same type/year/mint that happen to have experienced more wear/use during their time in circulation. For example, a 1964 Washington quarter dollar coin in Fine condition is NOT likely going to end up in a collector's album when the same date in BU is very easy to obtain for not much more money. Therefore the "Fine" example is relegated to the "junk silver" bucket at the LCS and sold to stackers like me for a fair value over "melt." I'll store the "Fine" example in a coin tube and the BU example of the same coin in a cardboard flip to keep it as nice as it was when I obtained it. Synonymous terms: "constitutional silver," "junk silver" and "90 percent silver."

 

Roosevelts can be confused with non silver coins. this is obvious. Mercs are also prettier

 

Would you pay more if they were Barbers, Seated Libs, Busties...

 

"This way to the Egress"

 

Silver is silver by weight...
Rovevelt's and Kennedy's tend to have less wear (more silver weight remaining)
More bang for your stacker dollar.
The Mercury's and Walker's are more desired as collector pieces (tend to have more wear from circulating age)

 

Label inflation!

 

True, but the wear is generally a couple percent or less for all but the most severely worn coins. (Well, modern coins. Older coins were actively clipped). I might be willing to pay a 1-2% over weight premium for older types, with a chance of a few of them having a significant numismatic premium. Particularly if silver prices ever fall, coins that are now available at the same melt price may diverge in value at a lower silver price. If they are the same price now, I'd rather have the older type with a higher numismatic "floor" price.

And just to have some photos, two of my clipped coins below.
Prague Grossi, Wencezlaus II (R, clipped) and Karl IV (L, normal)


2 reales, Seville (R, clipped) and Chile (L, normal)