Reasons why you collect junk silver coins (90% or 40%)

A lot of people don't collect junk silver. But there are a lot who do.
My question is, why do you collect junk silver? What's your reason?
Do you collect only dimes, quarters, half dollars, or everything?

 

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I bought mine as a silver hedge. I was lucky and was able to cherrypick through the dealer's stock so got a lot of cool coins, and also bought direct from people so would get some finds there as well, but primarily I liked the price, and the security that they were US coins so had a predetermined silver content.

I find junk silver a more interesting way to buy bullion than bars or rounds. I have a few of those as well, but they are terribly boring.

 

i collect it because it's what got me started into collecting. it's (relatively) easy to come by, it's (relatively) cheap, and it has great potential as an investment.

speaking of coin and currency, i generally collect anything of age, rarity, or of a foreign origin. so silver is a natural choice to fit that need.

 

Like medoraman, it's a great hedge against inflation and to me it's more attractive to look at a big pile of good old silver coins than bars and rounds that all have similar looks to them. Not only do I buy junk silver, but I cherrypick the dealer's bins. I find some pretty nice stuff and varieties that the dealer misses.

 

Sometimes sellers throw off colored silver coins into their junk box. I have no problems adding a decently circulated silver coin to my collection. At times the darkened color makes the coin look pretty nice.
I do buy bullion too, but then I have to buy extra supplies to store them.

 

I collect everything, even war nickels, 40% Kennedy's, brown and blue Ike's, copper pennies. My reason is two-fold, I like to collect coins and they retain their value. I prefer junk silver in good condition, but have a little bit in junky condition strictly for the silver content. I mostly do bullion though since you can get it in pristine condition without the premium that US minted coins carry.

 

I've recently been looking into 90% world coins, like the rooster one from Chile, and Aztec looking guy on Mexican coins.

 

One nice thing about it is you don't have to worry too much about scratches and imperfections, and you can handle and store it without all the fuss you might give a fancy shiny new coin.

 

Heck of a point actually. I keep forgetting how so many US collectors cannot even touch their coins. With clean hands of course, I can go home today and pull out coins minted by Marc Antony, Cleopatra VII, Constantine the Great, Alexander the Great, Justinian, Shapur the Great, etc, and handle them to my hearts content. Handling coins simply seems to let you connect with them that is unavailable to people looking at their coins through layers of plastic.

 

To collect
For investment - hopefully silver continues to appreciate
For security - if the "end of the dollar" theorists are right, it will be good to have some silver coin around to buy basic necessities until things get sorted out.
Gold is too expensive

 

I have a lot of "junk" silver foreign coins. I have a lot of silver coins from Russia, United Kingdom, The Phillipines, and Canada. I just like collecting them and i look at it as the silver in the coins will always be worth something.... and hopefully silver will go up in value too.

 

Good point. Aside from being government issued, it does retain its value no matter how it looks.
Some modern bullion lose their value when it's scratched.

 

I collect all denominations of 90% silver with no preference. I like actual circulation grade silver over ASEs and other bullion, because generally speaking they have a lower premium.

 

It's the only Silver I can afford ! Man, if I had money, I would own 70s of everything ! Or the highest grade that is known to exist for the coin. But I don't, and I hate seeing a vacant space in a binder. I mean, I'll fill that hole with whatever I can, then upgrade if something comes along. I have been working dimes and quarters a long time and I know I'll never run out of hobby.

 

Yeah, that too. It's hard to harm your junk Silver. I've even cooked some just to see how they would turn out. Not bad !

Never do that with something grade worthy.

 

One other thing I have noticed. Raw silver is pretty cheap. I mean, I can pick up UNC Washington's for less than grading costs would be for almost the entire set. Circulated ones are around melt. I've had good luck getting them at coin shows and as previously stated, somewhat affordable.

 

I collect it because it is one thing in the world that will always have value.

 

I like junk silver because it is fun! I like to buy a lot off ebay and search though it for better dates and higher grades. Recent batches have had a 1903-S Morgan, 1926-S Merc, some handsome Barber dimes in fine or so, and some nice Standing Liberty quarters. Not to mention some higher grades Washington and Roosies. After picking out the obvious I like to get the loope out and check for the "fancy" Washington reverses, doubled dies, OMM, ect. And don't forget about checking the dateless SLQ's for type one revereses - never did get lucky enough to find a 1916. Then it all goes back in the sack with the rest of it. Now and then I pull the sack out and stack it up to see how many times face I have. Nothing like riffling your hands through a nice pile of silver.

But, for silver investing I prefer the ASE or Maples. Junk silver just has too much of a buy/sell spread.

 

This really depends on who you buy from and sell to. If you cash in PMs to a jewelry store or fly-by-night operation set up in a hotel conference room, you are going to need some Vasoline.
I would recommend a coin shop, or better yet a private party with cash in hand. But, I would not advertise having silver for sale in the classified section.
As for buying, my local trusty coin dealer is usually about 5% above spot, which is fair in my eyes.

 

So junk silver has a place, it just depends on whether you are a coin collector or just looking for silver.