What is Rare Junk Silver and How to Buy Morgan Silver Dollars? A Guide You’ll Love
When you hear the phrase “rare junk silver,” it might sound like an oxymoron. After all, how can something be both rare and junk? But in the world of coin collecting and precious metals investing, “rare junk silver” holds a special place. It refers to coins made of silver that were once in circulation but now have value far beyond their face value due to their silver content and historical significance. For those interested in collecting or investing, this guide will break down what rare junk silver is, why it’s valuable, and how you can buy Morgan silver dollars to enhance your collection or portfolio.
What is Rare Junk Silver?
Rare junk silver isn’t “junk” in the literal sense. The term is used to describe U.S. coins minted before 1965 that contain 90% silver. These coins were used for everyday transactions, but when silver prices soared, their value exceeded their face value. Over time, these coins became a hot commodity for collectors and investors.
Examples of junk silver include pre-1965 dimes, quarters, and half dollars. While most junk silver coins are valued primarily for their silver content, rare junk silver refers to coins that carry additional value due to scarcity, mint errors, or historical significance. This combination of rarity and silver content makes them particularly sought-after.
For example, a 1964 Kennedy half dollar is technically junk silver, but certain versions with low mintages or unique errors fall into the rare junk silver category. These coins are prized by collectors, making them valuable both as an investment and as a piece of history.
Why is Rare Junk Silver So Popular?
Tangible Asset: Unlike paper money, silver coins offer intrinsic value. The silver content ensures that even if the value of the coin fluctuates, it will always hold worth as a physical asset.
Historical Appeal: Many rare junk silver coins tell stories of American history. Holding one feels like holding a small piece of the past.
Hedge Against Inflation: Precious metals like silver are often considered safe havens during economic uncertainty. Rare junk silver offers the added bonus of collectibility.
Entry Point for Beginners: Collecting rare junk silver is often more accessible than buying gold bars or high-end collectibles.
How to Buy Morgan Silver Dollars
When discussing rare junk silver, one cannot overlook the iconic Morgan silver dollar. Minted between 1878 and 1921, these coins are some of the most beloved in U.S. coin history. Named after their designer, George T. Morgan, they feature a striking Lady Liberty on one side and an eagle on the reverse.
Buying Morgan silver dollars is a fantastic way to dive into the world of rare junk silver while owning coins with both historical and monetary value. Here’s how to get started:
Understand Their Value: Morgan silver dollars are 90% silver, making their intrinsic value tied to the current price of silver. However, rare dates, mint marks, and condition can significantly boost their worth. For example, a 1893-S Morgan silver dollar is highly sought-after due to its limited mintage.
Buy from Reputable Dealers: Avoid the temptation to buy Morgan silver dollars from unknown sources or online listings with unclear descriptions. Always verify the credibility of the seller. Trusted coin dealers or platforms specializing in rare junk silver are your best bet.
Inspect Condition: Morgan silver dollars are graded on a scale from Poor (P-1) to Mint State (MS-70). The higher the grade, the more valuable the coin. Even lightly circulated coins (like MS-63 or higher) can command significant prices.
Consider Certified Coins: Coins certified by reputable organizations like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company) come with a guarantee of authenticity and grade. This can offer peace of mind, especially when buying Morgan silver dollars for investment purposes.
Where to Buy Rare Junk Silver and Morgan Silver Dollars
If you’re wondering where to start, there are several reliable options for purchasing rare junk silver and Morgan silver dollars:
Local Coin Shops: Visit a trusted coin shop in your area to browse their selection of junk silver coins. Many shops also carry a variety of Morgan silver dollars.
Online Marketplaces: Websites like APMEX, JM Bullion, and SD Bullion are reputable sources for buying rare junk silver. They also frequently stock Morgan silver dollars in various conditions and price ranges.
Coin Shows and Auctions: Attending a coin show or auction can be a fun way to find rare junk silver while networking with fellow collectors. You might stumble upon a hidden gem, like a rare Morgan silver dollar with an intriguing backstory.
Key Tips for Collecting Rare Junk Silver
When diving into the world of rare junk silver and deciding to buy Morgan silver dollars, it’s essential to take a thoughtful approach. Start small, do your research, and build your collection over time. Set a budget, focus on coins with both silver content and collector value, and keep an eye on market trends.
For collectors and investors alike, rare junk silver is more than just an asset—it’s a bridge to history. Similarly, when you buy Morgan silver dollars, you’re not just acquiring silver; you’re holding a piece of America’s past.
Whether you’re a novice collector or a seasoned investor, rare junk silver and Morgan silver dollars can be rewarding additions to your portfolio. Take the time to explore these fascinating coins, and you’ll find that their value goes far beyond the metal they contain.
