junk coins versus Kennedy 1971D half dollar

[moneyhoney]

okay, I understand this much about junk silver. These coins are 90% silver and usually worn and can only be sold for silver value depending on the rarity of the coins. Correct? As a good rule of thumb, I check the grading criteria and if I cant grade a coin based on that...I consider it a junk coin. On the other hand there are some collectors that wants just the silver. Are these the coins that I should keep and sell for its silver content?. Thirdly...if I have 90% silver coins that are not worn, these are coins that will sell based on the date, mint mark, and grade. Correct?

now to the 40% silver coins, these are the ones also called junk silver due to the low amount of silver? If those coins are also worn should they be kept just for the silver content ( unless it's a rare coins or high grade for some other reason)? A coin in question would be the Kennedy 1971 coin, also 40% silver. Now we get to the 1971D with its double-die...these coins, disregarding the 40% silver, would be worth more than "junk silver" because of its double die?

I have these kennedy 1968 to 1971 kennedy coins and they just sitting her because I dont know what to do with them. It's too confusing to read all the sites on the internet, most of them differs.

I have 1916 buffalo nickel..it is so dark the date can be seen only using magnification; indian head pennies dark also..dont know if they will see and it would bost me a fortune to have ngc make them look better....

for photo...what is a good reasonable price digital camera to post photos?

 

Thank you

 

[comicdonna]

I like paragraphs.

[newprepper]

I'll bet you like really big ones too

[JIM F.]

1971 half dollars have zero silver. Spend them. No collector or intrinsic value.

 

 

 

[19Lyds]

First off, the 1971 Kennedy's were NOT 40% Silver. They were the first year of CnCladding. However, if you do in fact have one that is 40% Silver, then you have a mini-gold mine. Grade or not.

 

Since you've lumped all 1971 Kennedy's as 40% silver (which they are not) I can only assume that you're simply mistaken about the metal content and don't actually have any that are 40% Silver.

 

Since these ARE CnClad coins, they only have "gradeable" value if they grade MS67 or higher. MS66's can be picked up for $20 to $40 fir the Denver coins and a bit higher for the Philadelphia coins. The Philadelphia coins have notoriously weak rims which keeps most out of the MS66 Grade.

 

The Denver doubled die 1971 Kennedy's will only have appreciable and gradeable value if they are MS65 or higher but its important to remember that the Kennedy Varieties are more or less a specialized arena. What this means is that unless the DDO coins grade MS66 or higher, they'll be difficult to sell. Not impossible, just difficult. Given the fact that additional money needs to be plunked down for the attribution (in addition to the grading), care should be taken when submitting these as the price adds up rather quickly.

 

The 1971D does have quite a few DDO coins of which onkly two are represented in the CPG. As such, only those two would see good values.

 

As for your 1965-1970 Kennedy's. These always bring good value in open bidding for their silver content. Like em or not, they're still silver!

[moneyhoney]

Kennedy's 1971D half-dollars..DDO?

[moneyhoney]

Don't you mean Kennedy's 1964 only have silver? and those after 1964 only have 40% silver....correct me

[coinman1794]

1964 = 90% silver

1965-1970 = 40% silver

1971-2012 = 100% copper-nickel

[moneyhoney]

Thank you...

[DaveG]

moneyhoney,

 

"Junk Silver" is just a term that collectors use to describe common 90% silver coins that are usually sold in bulk based on their silver content.

 

Some coins that are Junk Silver when silver is $30/oz. have numismatic value when silver is $6/oz.

 

For example, an uncirculated 1963 Washington quarter would have had numismatic value (that is, a price higher than its silver bullion value) when silver was $6/oz. However, with silver at $30/oz., its silver bullion value is higher than its numismatic value. Therefore, the coin now goes into the Junk Silver category.

 

As everyone else has said, the 1971 Kennedy half doesn't have any silver in it.

 

Finally, if your Buffalo nickel and Indian Head cents are so worn that you need a magnifying glass to read the dates, then their value would likely be fairly nominal.

[AstroTrain]

Reminds of my first days stumbling into coin collecting and silver. read, ask, and learn - you will find your way

[Conder101]

Junk silver are coins that have little or no numismatic premium over the value of their silver content. This is because the coins are very common and there are more easily available in a given grade than there are collectors for the coin in that grade.

 

As an example take the 1964 half dollar. There are tons of these out there so any collector who wants one will have no trouble finding a MS one so circulated coins have no collector demand and are only worth the value of the silver in them. These are junk silver. Now we look at the MS coins, there are tons of these as well. When you get up to the level of MS 68 or 69 they start to become scarce enough that there are fewer available than there are collectors who want them and the price starts to rise above the value of the silver in them. But in less than MS 68 there are more than enough to satisfy demand so they don't command much if any premium over the silver value. Basically these MS coins are also junk silver. So a 1964 half dollar is pretty much junk silver unless it grades MS-68 or better.

[TonerGuy]

As an example take the 1964 half dollar. There are tons of these out there so any collector who wants one will have no trouble finding a MS one so circulated coins have no collector demand and are only worth the value of the silver in them. These are junk silver. Now we look at the MS coins, there are tons of these as well. When you get up to the level of MS 68 or 69 they start to become scarce enough that there are fewer available than there are collectors who want them and the price starts to rise above the value of the silver in them. But in less than MS 68 there are more than enough to satisfy demand so they don't command much if any premium over the silver value. Basically these MS coins are also junk silver. So a 1964 half dollar is pretty much junk silver unless it grades MS-68 or better.

 

Or the MS JFK is nicely toned and then it also has collector value...

[moneyhoney]

not worn but dark...

[moneyhoney]

I dont understand the third paragraph that begins with "for example" now that silver is 30/per oz.an uncirculated 1963 washington quarter goes into the junk silver category. I am trying to put this together in my head but it doesnt make sense...

[DaveG]

moneyhoney,

 

Let's say that with silver at $6/oz. an uncirculated Washington quarter would have a bullion value of $1.08.

 

However, a coin dealer would pay $3.50 for an uncirculated Washington quarter.

 

With silver at $6/oz. this Washington quarter has a numismatic value that exceeds its bullion value and it is not "Junk Silver".

 

However, with silver at $30/oz. an uncirculated Washington quarter would have a bullion value of $5.42.

 

You go to your coin dealer and ask what he will pay for the coin:

 

If he says that the numismatic premium has not changed, then the numismatic value of the coin is less than its bullion value and the coin has just become Junk Silver.

 

However, if he says that uncirculated Washington quarters have risen in price and he will pay $6.00 for the coin, then the numismatic value of the coin is more than its bullion value and the coin is not Junk Silver.

 

In practice, as silver rises in price, (unless the numismatic premium also rises) the lower grade coins (say, worn Washington quarters) become Junk Silver first, then, as silver rises higher, lower-grade uncirculated Washington quarters (say MS-63) become Junk Silver and, if the price of silver rises high enough, even MS-67, MS-68 or higher graded coins can become Junk Silver.

 

 

[Crohnos01]

...I gave almost identical information in a different thread. Nicely stated though..