How To Determine The Value Of 90 Silver Coin Bags
What Are 90 Silver Coin Bags?
90 junk silver coin bags are canvas type cloth bags which contain Washington quarters, Franklin or Kennedy half dollars, and Mercury and Roosevelt dimes that were minted in the calendar year 1964 and earlier. Those were the times when our United States coins were still made of real silver (actually 90% silver and also 10% copper.) The term silver ended up being coined (no pun intended) in the 1970 because these coins had very little collector value at the time. That is definitely not the case nowadays with these types of coins getting more difficult to find!
The type of junk silver coins most often found in silver bags are the Washington quarters. all quarters, dimes, or half dollars. The grade of each coin will vary but generally 95 percent will have dates that will be readable.
Coin dealers will generally sell 90 junk silver bags in face value lots of $1000.00, $500.00, $250.00, $100.00, and sometimes ev nike store uk en $50.00 lots. When you invest in a $1000.00 bag, for example, you be getting 10,000 dimes, 4,000 quarters or 2,000 half dollars! However, nike store uk the face value of the coins will be $1000.00 but will contain 715 ounces of silver, regardless of the denomination of the coins, because of the 90% silver composition of the coins. That means you be getting a lot more silver for your money!
How to Determine the Value of Your Junk Silver Coin Bag
Before you march off to sell your 90 silver bag to a coin dealer, you need to determine ahead of time, what your bag is worth:
1. First, find out what the current spot price of silver is I like to use Kitco.
2. Multiply the amount of troy ounces of silver in your bag by the current silver spot price. If your bag has 715 oz of silver and the spot price of silver is $30, that would be $21,450.
4. Now subtract that amount from the price the dealer is quoting you. Shop around and compare what various dealers (both online and local) are offering. Do your homework and be informed!
5. You need to remember that the price of junk coin bags will foll nike store uk ow the spot price of silver. Let say the price of silver rises ten cents from $30.00 an ounce to $30.10 an ounce. A $1000.00 face value bag of 90 junk silver Washington quarters will rise $70, give or take.
Advantages of Buying 90 Junk Silver Bags
90% junk silver is a wonderful way for first time buyers to invest in silver for the following reasons:
1. 90 junk silver is the most cost efficient method of buying silver per ounce in bulk. You see, with junk silver, no refining or minting fees are added to the cost of the coin. When you buy a modern silver bullion coin such as the American Silver Eagle, this manufacturing premium is always going to be added to the cost of the coin.
2. Because of their age and circulation, it is only natural for junk silver coins to have lots of wear and tear. But even discounting the scratch marks, nicks, abrasion, worn detail, unrecognizable face, you still getting 99% of the silver content! That means that the coins will be worth far more than their face value!
3. Another advantage to buying junk bags is that the coins can easily be divided into smaller quantities to use as bartering instruments in an emergency. You can also sell the coins individually, the same way, if you didn want to sell the entire bag all at once, to take advantage of rising silver prices.
Now that you learned a little bit about 90 silver coin bags, I think you agree that they are a terrific investment. With the price of silver expected to move even nike store uk higher in the coming year, adding a few to your portfolio will be a prudent and profitable decision!