A Dollar’s Worth of ‘Junk Silver’ – Now North of $30 – Seeking Alpha: “Silver crossed an interesting milestone recently. Now one dollar in so-called “junk silver” U.S. coins costs more than $30.
‘Junk silver’ refers to U.S. dimes, quarters and half dollars minted before 1964. They’re only called ‘junk’ because they have no numismatic value and are sold solely for silver content.
These pre-1964 coins are 90% silver and weigh 25 grams per dollar in face value. So 10 dimes, for example, weighed 25 grams when minted. Theoretically those 10 dimes contain 22.5 grams of silver – or about 0.723 troy ounces – but because they’ve been circulated, most dealers assume they weigh 0.715 troy ounces.
Or, to look at it another way, if you have $1.40 worth of these coins, that amounts to about one ounce of silver…”