Junk Silver Calculator

Why one dollar of face value always holds 0.7234 ounces

From 1873 to 1964 the Mint set the weight of silver coins in strict proportion to their face value. A dime weighed 2.5 grams, a quarter 6.25 grams and a half dollar 12.5 grams. Ten dimes, four quarters or two halves each make one dollar of face value and each weighs exactly 25 grams. At 90% silver that is 22.5 grams of pure silver. Dividing 22.5 by 31.1035 grams per troy ounce gives 0.7234 troy ounces. This is why the calculator only needs your face value, not a count of each coin.

Silver dollars break the pattern. A Morgan or Peace dollar weighs 26.73 grams, slightly more than four quarters, so it holds 0.7734 troy ounces. That is why they have their own input as a number of coins.

A worked example with a mixed lot

Suppose an old coin jar holds 12 silver dimes, 7 silver quarters and 3 silver halves. That is $1.20 plus $1.75 plus $1.50, a face value of $4.45, which you enter in the 90% box. The calculator multiplies 4.45 by 0.72336 for 3.219 troy ounces. Add four 1967 Kennedy halves, a face value of $2.00, in the 40% box for another 0.592 ounces. Add six war nickels, a face value of $0.30, for 0.338 ounces. Enter 2 in the dollar box for 1.547 ounces. The total is about 5.695 troy ounces of pure silver.

War nickels and 40% halves

War nickels look like poor value at first, but they hold more silver per dollar of face value than any other junk silver. Each 5 gram nickel is 35% silver, or 1.75 grams. Twenty of them make one dollar of face and hold 1.1252 troy ounces. You can spot them by the large P, D or S above Monticello's dome. The 1942-P war nickel was the first US coin to carry a P mint mark.

The 40% Kennedy halves of 1965 to 1970 have outer layers of 80% silver bonded to a core of about 21% silver, which averages to 40% overall. Each 11.5 gram coin holds 0.1479 troy ounces. The 1970-D half was issued only in mint sets, so it rarely turns up loose.

How collectors count bulk silver

Junk silver is usually traded in round amounts of face value. A traditional bag holds $1,000 face of 90% coins. At 25 grams per dollar of face, such a bag weighs about 25 kilograms, or roughly 55 pounds. When new it would contain 723 troy ounces of silver, while the trade convention for circulated bags is about 715 ounces, the figure behind the 0.715 per dollar rule. A kitchen scale is a quick check on a counted lot: $10 face of 90% silver should weigh close to 250 grams, a little less if the coins are worn.

Mistakes that skew the total

Putting 1964 Kennedy halves in the 40% box is the most common error. They are 90% silver and belong with the other pre-1965 coins. The next is mixing in clad coins dated 1965 or later. Check every edge for a copper stripe before adding coins to the total. Entering silver dollars as face value in the wrong box also inflates the result slightly, because they carry more silver per dollar than smaller coins. The 1976-S 40% Bicentennial coins and silver proofs aren't part of this calculator, so use the melt value calculator for those.

Frequently asked questions