While "junk silver" has earned a place in the safes of many seasoned precious metals investors, it can be confusing for those newer to the market. The name alone is a misnomer as both 90% and 40% silver hold monetary value and demand.
Junk silver earned the name as it has no numismatic value but it's demand is due to it's silver content. U.S coins minted before 1964 contained a mix of 90% silver and 10% copper, meaning the face value of every silver dollar contains an estimated .715 troy oz of actual silver.
The intrinsic value of the silver itself caused these coins to quickly begin leaving circulation. A $100 face value bag of 90% silver coins would contain around 71.5 oz of silver. When that is multiplied by the current spot price of the metal, there's a clear disconnect between it's face value and it's silver value.
Why Buy 90% or 40% Silver?
Many purchase 90% or 40% silver coins as bullion. Though these coins still have value in their silver content, they typically carry lower premiums compared to pure bullion rounds. This is especially true when considering 1 oz sovereign coins such as American Silver Eagles. It can be a way to bulk out your silver investment at a relatively low cost.
If you're new to precious metals this lower barrier to entry can hold massive appeal.
For some people they simply have either aesthetic appeal or a nostalgic charm and this can be particularly true in the case of Morgan and Peace Silver Dollars. 90% silver coins tend to feel heavier and more substantial in the hand.
Other buyers are preparing for a scenario where the financial system collapses entirely and are investing with the plan of being able to barter or trade. In such a situation smaller increments of precious metals can hold high appeal. 100 oz bars are very convenient for those wanting to stack large amounts of silver for long term financial security or gains. If you're wishing to protect yourself in case f the need to trade however, smaller amounts would have more use in day to day situations.
Why Buy 90% or 40% Silver with Great Lakes Coin?
Here at Great Lakes Coin we're committed to providing the highest level of customer service regardless of order size. With this in mind we have no minimum order quantities on the website and aim to make investing in precious metals as accessible as possible.
We offer our 90% silver in face value lots of $1, $5 or $10, allowing you to invest at a pace to suit.
Further to that Mike is meticulous about the quality of our products. He packs all orders himself to ensure it is his trained & experienced eyes choosing your coins. Every coin is checked to ensure it has a full rim and slicks are discarded, never reaching our end retail customers. You can rest assured coins will be upto weight.
At the heart of Great Lakes Coin is our commitment to only sell products we have physically in hand. This allows for a fast turnaround time of orders and you are not left waiting several weeks on items to arrive. If products are late arriving with us, that should be our problem and not our customers.
Typically (barring severe weather events for example,) we offer same day dispatch when ordering online before 2 pm Monday to Friday. Want to pay by check, Paypal invoice or crypto invoice? We're on hand seven days a week to organize that. Contact us via the live chat window at the bottom of the website or email email@example.com