Junk silver is sold by face value but worth its silver content. The quick maths for dimes, quarters and half dollars, and how to judge a dealer's price.
Short answer: each dollar of face value in 90% US dimes, quarters or half dollars holds about 0.723 troy ounces of pure silver. Multiply that by the silver spot price for the melt value, then compare it with the dealer's price per dollar of face value.
Kennedy half dollars from 1965 to 1970 hold about 0.1479 troy oz, because they are 40% silver.
Ten dimes, four quarters or two half dollars all have a face value of one dollar and hold the same silver, about 0.723 troy oz. That is why junk silver is quoted per dollar of face value.
Suppose a bag has 10 dollars of face value in 90% coins. It holds about 7.23 troy ounces of silver. At a spot price of 25 per ounce, the melt value is about 181. A dealer selling that bag at a higher price is charging a premium over melt.
The junk silver calculator handles mixed coin counts and the 40% and 35% issues. Worn coins hold slightly less silver than the figures above.
Record the face value, the coin types, the total price and the date, and compute your cost per troy ounce. See our guide to building and tracking a junk silver bag.
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