While there is no precise definition of this term, it generally applies to reasonably heavily circulated silver dimes, quarters, and halves of common dates.
And a number of high mintage issues like 1986 S Statue of Liberty Modern Commemorative Silver Dollars, excluding of course the exciting items like concave Baseball HOF hot mess designer Cassie McFarland Silver Dollars MS70 NGCs signed by Babe Ruth...
Do NOT take this post seriously. While many modern commems make the "junk silver" category, by far not all do. My FULL set of Atlanta Olympics dollars in BU argue otherwise.
Nope. To me, "cull" means "badly worn or damaged" -- but you'll still get three figures for a holed or heavily-worn 1928-P Peace dollar, and dateless 1916 Standing Liberty quarters (you can still identify them from other parts of the design) still go for thousands. In fact, rescuing better dates or varieties from cull lots is one of my favorite parts of the hobby, and it's been fairly lucrative.
Agreed, it can be fun and surprising, especially with buying cull lots from some of the larger dealers, such as APMEX and JMBULLION, who move so much inventory that some decent netter grades of common dates are sometimes mixed in, why I'm not sure but possibly because they run low on true culls and take the minor loss rather than not filling the order.
no if you look at a Morgan dollar for example. Even a Cull of any year will be worth more then its silver value. Reason, simple the mintage of the year. I reserve the right to exclude anything cleaned in this comment