A $1,000 face value bag of 90% silver coins contains approximately 715 troy ounces of fine silver. At spot prices of October 7, 2026, with silver at $60.73 per troy ounce, that bag’s melt value is:
715 ozt × $60.73/ozt = $43,422
For live pricing, use the junk silver calculator — it applies the current spot price automatically. The figures below use the October 7, 2026 reference snapshot as a worked example only.
What Is in a Junk Silver Bag?
“Junk silver” refers to common-date, circulated US silver coins sold for their metal content rather than any collector premium. The standard bag contains $1,000 in face value of:
- Pre-1965 90% silver dimes (Roosevelt, Mercury, or Barber)
- Pre-1965 90% silver quarters (Washington, Standing Liberty, or Barber)
- Pre-1965 90% silver half dollars (Kennedy 1964, Franklin, Walking Liberty, or Barber)
All three denominations contain essentially the same amount of silver per dollar of face value:
| Denomination | Coin weight | Silver purity | ASW | Per $1 FV |
|---|---|---|---|---|
| Dime ($0.10) | 2.50 g | 90% | 0.0723 ozt | 0.7230 ozt |
| Quarter ($0.25) | 6.25 g | 90% | 0.1808 ozt | 0.7232 ozt |
| Half dollar ($0.50) | 12.50 g | 90% | 0.3617 ozt | 0.7234 ozt |
The tiny differences between denominations are due to rounding in the ASW values. For practical purposes, every pre-1965 90% US coin delivers 0.7234 ozt of silver per dollar of face value when new and uncirculated.
Coin weights and purities from US Mint specifications.
Why 715 ozt, Not 723 ozt?
The theoretical ASW for $1,000 face value in uncirculated 90% coins is approximately 723.4 troy ounces. The industry-standard figure of 715 ozt accounts for the silver lost to wear during circulation. A coin that has passed through millions of hands over decades loses a small amount of metal — typically less than 1% of its original weight — but across hundreds of coins the effect accumulates.
Bags of uncirculated 90% silver coins (rare and expensive) would be closer to 723 ozt. Typical circulated bags sold in the junk silver market use 715 ozt as the agreed-upon standard. Both buyer and seller understand this convention.
Melt Values by Bag Size
| Bag size (face value) | Silver content (ozt) | Melt value at $60.73/ozt (Oct 7, 2026) |
|---|---|---|
| $100 FV | 71.5 ozt | $4,342 |
| $250 FV | 178.75 ozt | $10,855 |
| $500 FV | 357.5 ozt | $21,711 |
| $1,000 FV | 715 ozt | $43,422 |
These values move with spot price. At $65/ozt silver, the $1,000 bag is worth $46,475. At $55/ozt, it drops to $39,325. The junk silver calculator applies today’s spot price automatically.
What Dealers Pay for Junk Silver Bags
Dealers buy junk silver at a discount to melt — their spread covers sorting, testing, overhead, and profit margin. Typical buy rates for $1,000 FV bags:
- From major online dealers (APMEX, SD Bullion, JM Bullion): 90–94% of melt
- From local coin shops: 86–92% of melt
- At coin shows: 87–93% of melt
At October 7, 2026 prices, a $1,000 FV bag at 92% of melt fetches: $43,422 × 0.92 = $39,948
A $500 FV bag at 90% of melt: $21,711 × 0.90 = $19,540
See how coin dealers price silver for a full breakdown of the bid-ask spread and what factors push offers higher or lower.
Retail Prices for Buying
When buying junk silver, you pay a premium over melt. The premium compensates dealers for the same costs they recover when buying at a discount. Typical retail premiums above melt for $1,000 FV bags:
- At low-demand periods: 0–3% over melt (very competitive)
- At normal demand: 3–8% over melt
- During silver supply crunches: 10–20%+ over melt
During high-demand spikes (like the early 2020s silver shortage), junk silver bags have sold at significant premiums over melt. During quiet periods, competition among online dealers keeps premiums tight. Compare the $1,000 FV bag price to 715 ozt × spot price to calculate the exact premium percentage before you buy.
Calculating Value for Any Face Value Amount
For a quantity of 90% coins that is not a round bag size:
Silver weight (ozt) = face value in dollars × 0.715
Examples:
- A roll of 20 silver quarters ($5 face value): 5 × 0.715 = 3.575 ozt × $60.73 = $217.11
- A roll of 50 Mercury dimes ($5 face value): same calculation = $217.11
- $47.50 in mixed 90% coins: 47.50 × 0.715 = 33.96 ozt × $60.73 = $2,062.40
How Junk Silver Bags Compare to Other Silver Investments
| Product | Premium to buy (typical) | Liquidity (ease of sale) | Divisibility |
|---|---|---|---|
| 90% junk silver bag | 3–8% | High — any bullion dealer | Very high — any denomination |
| American Silver Eagle | 8–15% | Very high — universally recognized | Medium (1 oz minimum) |
| Generic silver rounds | 5–12% | Good — most bullion dealers | Medium |
| 1 oz silver bars | 5–12% | Good | Low |
| 100 oz silver bars | 2–5% | Good | Very low |
Junk silver’s main advantage is divisibility — you can sell a few dimes or a single roll without dealing with the whole position. This makes it appealing as a physical silver holding that can be liquidated incrementally rather than all at once.
What About 40% Silver Halves and War Nickels?
Two other US coin types carry silver but are not part of a standard 90% junk silver bag:
40% Kennedy half dollars (1965–1970). These are sometimes sold separately. Each 40% half dollar contains 0.1479 ozt of silver. The silver per dollar of face value is 0.2958 ozt — far less than the 0.7234 ozt in a 90% half. At October 7, 2026 spot prices ($60.73/ozt), a $1,000 face value of 40% halves contains 295.8 ozt of silver with a melt value of:
295.8 × $60.73 = $17,964
That is less than half the melt value of the same face value in 90% coins. Dealers also pay lower percentages for 40% halves because they are harder to resell. See 90% vs. 40% silver coins for a full comparison.
Wartime Jefferson nickels (1942–1945). These 35% silver nickels are sold in separate lots, not mixed into standard junk silver bags. Each nickel contains 0.0563 ozt of silver. A $1,000 face value of wartime nickels (20,000 nickels) would contain 1,126 ozt of silver — but wartime nickel lots are rarely sold in those quantities. More commonly you see $100 face value rolls. A $100 face value of war nickels (2,000 coins) contains 112.6 ozt, worth at October 7, 2026 prices:
112.6 × $60.73 = $6,838
The junk silver calculator handles 40% halves and war nickels as separate line items so you can compute mixed holdings accurately.
For where to sell junk silver and what to expect in terms of timing and payout, see the dedicated selling guide. For total silver content and melt value of any quantity, the junk silver calculator gives you real-time numbers based on today’s spot price.