The trade prices 90% US coin by face value rather than weight, because every dollar of face holds the same silver whatever mix of coins it is.
Face value to silver
Silver is $53.44 a troy ounce. A dollar of face
value in 90% US coin holds 0.715 troy ounces circulated, or
0.7234 as struck.
Melt value of 90% US silver coin by face value, at the current benchmark.
Face value
Silver, circulated
Melt, circulated
Melt, as struck
$1
0.7150 ozt
$38.21
$38.66
$5
3.5750 ozt
$191.06
$193.30
$10
7.1500 ozt
$382.12
$386.61
$25
17.88 ozt
$955.29
$966.52
$50
35.75 ozt
$1,910
$1,933
$100
71.50 ozt
$3,821
$3,866
$500
357.50 ozt
$19,105
$19,330
$1000
715.00 ozt
$38,211
$38,660
The gap between the last two columns is the wear allowance, about 1.2%. It looks trivial on a
$10 bag and is not on a $1,000 one. Dealers quote and pay on the circulated figure unless the
coins are demonstrably uncirculated, which for junk silver they are not.
What goes in the bag
Dimes, quarters and half dollars dated 1964 and earlier, all 90% silver, all struck to the same
weight per dollar of face. A dollar of face is ten dimes, or four quarters, or two halves, or
any mix that adds up. Silver dollars are the exception and do not belong in a face value
calculation: a Morgan or Peace dollar is heavier per dollar of face than the smaller
denominations and is traded individually. Sterling jewellery and flatware do not belong in a
face-value bag either: weigh those by the stamp on
the silver scrap calculator.
Keep 40% Kennedy halves from 1965 to 1970 in a separate pile. They look almost identical, they
are worth well under half as much, and a bag salted with them is the oldest trick in the junk
silver trade. Check dates on every half.
Reading a dealer quote
Junk silver is quoted as a multiple of face: "seventeen times face" means $17 per dollar of face
value. To turn that into a price per ounce, divide by 0.715. To check a buy offer against spot,
do the same and compare. A quote at the melt figures in the table above is a quote at spot, and
in practice junk silver trades at a small premium to spot because it needs no assay and is
easily divisible.
Weigh the bag as a cross check if the amount is large. A $100 face bag of circulated 90% coin
should weigh close to 2,480 grams. If it is meaningfully light, something in it is not what it
says, and if it is heavy there may be silver dollars mixed in.
Junk silver questions
What is junk silver?+
Circulated US dimes, quarters and half dollars dated 1964 or earlier, struck in 90% silver, with no collector value beyond their metal. The word junk refers to the condition and the lack of numismatic interest, not to the silver, which is exactly as good as any other silver.
How much silver is in $1 face value of junk silver?+
About 0.715 troy ounces for circulated coin, and 0.7234 as struck. The trade uses the lower figure because coins that spent decades in tills lost roughly 1% of their weight to wear. Dimes, quarters and halves were all struck to the same weight per dollar of face value, so the mix does not matter.
Why is junk silver priced by face value?+
Because it makes a mixed bag countable without weighing it. Ten dimes, four quarters and two halves all come to a dollar of face and all hold the same silver, so a dealer can quote "sixteen times face" on a bag of any composition.
What does times face mean?+
A multiplier on the face value. If a dealer says junk silver is at 18 times face, a $10 face bag costs $180. Divide the multiplier by 0.715 to get the implied price per troy ounce and compare it to spot.
Does junk silver sell above spot?+
Usually yes, at a modest premium, because it is divisible, instantly recognisable and needs no assay. The premium widens when retail demand for small silver is high and narrows when it is not.
Are 40% silver half dollars junk silver?+
They are traded separately. Kennedy halves from 1965 to 1970 are 40% silver and hold about 0.2959 troy ounces each, well under half of a 90% half dollar. Do not mix them into a 90% bag.
Should I clean junk silver before selling?+
No. Cleaning coins damages surfaces and removes metal, and it gains you nothing on a melt-priced sale. It can also destroy the value of a coin that turned out to be better than junk.
Recommended Gold Testing & Smelting Equipment
Laboratory-grade scales, non-destructive electronic testers, and digital melting furnaces for accurate scrap valuation and refining.
Digital Electric Gold & Silver Melting Furnace (1kg to 3kg, 1150°C / 2100°F)
Commercial digital smelting furnace with high-density graphite crucible, insulated heating chamber, and heavy-duty crucible tongs. Heats up to 2100°F (1150°C) with precise digital PID temperature control to cleanly melt scrap gold jewelry, sterling silver, and brass into tradeable bullion bars in under 45 minutes.
Laboratory-grade electronic gold analyzer that instantly determines karat purity from 10K to 24K and verifies platinum without messy acid drops or destructive scratching. Rapid self-calibration ensures quick, reliable scrap valuation without damaging collectible jewelry.
0.001g High-Precision Analytical Milligram Jewelry Scale (50g x 0.001g)
Laboratory-grade analytical milligram balance measuring down to 0.001 grams, 0.005 carats, and 0.0001 troy ounces (ozt). Features a clear protective draft shield, tare function, and stainless steel calibration weights to catch fine weight fractions before smelting.
Multi-Cavity High-Density Graphite Ingot Mold for Bar Casting
Machined high-purity fine-grain graphite mold designed for pouring clean 1 oz, 2 oz, 5 oz, and 10 oz gold and silver bars. Delivers high thermal stability, rapid heat dissipation, and a smooth cavity finish for effortless ingot release.
Master Gold & Silver Chemical Acid Scratch Assay Kit with Touchstone & Loupe
Complete precious metal appraisal kit featuring 10K, 14K, 18K, and 22K gold testing acids, silver testing solution, a genuine dense testing touchstone, and an illuminated triplet jeweler loupe to distinguish solid karat gold from heavy plating.
Kevlar-reinforced split-cowhide foundry gloves rated for temperatures up to 2000°F with extended gauntlet forearm protection, paired with a high-impact anti-glare face shield designed for safe scrap metal handling and pouring.
Compare essential equipment specifications for establishing an efficient scrap gold testing and melting workstation:
Equipment Type
Primary Purpose
Capacity / Accuracy
Key Advantage
Electric Smelting Furnace
Melting scrap jewelry, dental gold, and coins into bullion
1 kg to 3 kg crucible capacity
Clean flameless PID temperature control up to 2100°F
Electronic Karat Tester
Instant purity check on intact jewelry and high-end watches
10K to 24K gold and platinum ranges
Non-destructive testing with no acid stains or scratches
Analytical Milligram Scale
Precise scrap weight measurement before refining
50g capacity at 0.001g (0.0001 ozt)
Catches fine weight margins standard kitchen scales miss
Multi-Cavity Ingot Mold
Casting molten scrap metal into tradeable bullion bars
1 oz, 2 oz, 5 oz, 10 oz bar cavities
High-density graphite prevents sticking and oxidation
Acid Touchstone Assay Kit
Distinguishing solid karat alloy from heavy vermeil or plate
10K, 14K, 18K, 22K acid standards
Time-tested chemical confirmation for scrap buyers
Scrap Valuation Pro Tip: Melt Loss & Non-Destructive Testing
When melting scrap jewelry lots, expect an average 1% to 3% melt loss due to burn-off of non-precious solder joints, skin oils, and enamel. Before melting high-value items, verify karat content using a non-destructive electronic tester. Acid scratch testing can leave noticeable etch marks and may read false positive on heavy gold-filled or rolled gold plate items (such as 1/10 10K RGP or vermeil).
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