Best Place To Buy Junk Silver

Are you interested in investing in the silver market but don’t know where to get started? Many budget friendly investors are turning to buying junk silver as a more affordable way to get started investing in precious metals. Junk silver aren’t as popular as other forms of precious metal investments such as IRAs or mutual funds but they can play an important role in your overall investment strategy.

In this article you will learn about what junk silver is, how you can include it into your investment strategy, as well as the best place to buy junk silver.

What Is Junk Silver?

Most beginner investors have heard about investing in collectable or rare silver coins which can be a good investment based on the scarcity and rarity of the coin. But on the other hand, there is an investment strategy that is all about investing in unremarkable silver coins that aren’t rare or special, these coins are referred to as junk silver. Junk Silver are silver coins that are at least 90% silver but aren’t rare. These coins are traded solely off their value related to the amount of pure silver in the coin.

Silver coins can have a very high percentage of silver (greater than 90%) or silver coins can have a small percentage of silver (typically less than 50% silver). Junk silver are right in the middle of these two different types of silver coins. Collectable coins are rare for their limited supply but also because they typically have very high percentages of silver which makes them more valuable.

Junk silver coins were originally minted to be used as money before the 1965. These coins contain 90% silver but over the years they lost their value and got replaced. This means the only thing that gives them value is the amount of silver within the coin. Instead of buying a bullion or bar of silver, you can opt to buy junk silver or junk coins as they are more affordable and easier for beginner investors.

Why Should I Buy Junk Silver or Junk Coins?

Don’t let the name fool you. Junk silver is still valuable and can be a great investment strategy for beginners or for individuals who don’t want to invest large amounts of money on bullions or larger pieces of precious metals. Junk coins have a value which is directly related to the value of the amount of silver or other material located within the coin but no additional value based on the rarity or collectability of the coin.

Junk silver can be a great investment because they are more affordable compared to spending thousands of dollars on silver bullions or bars. This makes it more accessible and affordable for the average precious metals investor.

Junk silver is also easy to identify and typically have a set price which correlates with the current price of silver. This means there will be less price negotiating and less change in value because the price is set in comparison to the amount of silver within the coin and not based on the market demand or the rarity of the coin. This makes it easier and simpler to start investing in!

How Do I Start Buying and Selling Junk Silver?

If you are interested in buying and selling junk silver or scrap silver then there are a number of different places you can start buying them from. We always recommend that if you are a beginner investor that you only purchase junk silver or other precious metals from reputable dealers or brokers so you don’t get scammed.

You can also buy junk silver from local pawn shops or local dealers but this is only recommended for individuals who have experience buying and selling precious metals and are able to understand what is real and what isn’t. Below are the best places to buy junk silver.

Best Place To Buy Junk Silver

If you are looking to get started buying junk silver or scrap silver then we recommend that you stick with reputable brokers or dealers. This could be an online dealer with thousands of positive customer reviews or a local dealer that you trust.

Below are the best places to buy junk silver:

JM Bullion

JM Bullion is one of the most well known and trusted online dealers who buys and sells junk silver. They sell a variety of different scrap silver coins that range from 35% silver to over 90% silver. JM Bullion also sells collectible coins, bullions, and a variety of other precious metals.

JM has been around for a long time and is known for their great customer service and positive customer reviews. You can feel safe buying junk silver or other precious metals from JM Bullion!

Provident Metals

Provident Metals are another one of the largest online dealers in the precious metals industry. They specialize in selling coins but also sell a variety of other precious metal items. Provident has been around for a number of years and has even won a variety of different industry awards in recent years.

They offer great prices and also provide beginner investors a wide variety of great educational resources to learn about in investing in precious metals. We have loved buying and selling junk silver from Provident Metals and highly recommend their marketplace!

Local Pawn Shops and Brokers

Local pawn shops or precious metal dealers is a great place to find the best deals on junk silver but also other precious metals. Local dealers and brokers will typically provide the best prices compared to online dealers because local markets will vary compared to national markets for silver.

The issue with buying junk silver from local dealers is that you should only shop from reputable local dealers as you never know if a local dealer is trustworthy. We typically only recommend buying from local dealers if you are an experienced precious metals investor or are able to prove authenticity of the precious metal that you are purchasing.

When looking for a local precious metal dealer we highly recommend that you look for recommendations from friends or colleagues.

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Andrew Thompson

Andrew Thompson is the founder of Precious Metals Guy and has been investing in precious metals such as gold, silver, platinum, and more for over 20 years. He firmly believes that precious metal can be a great long term investment strategy for every investor or collector. Andrew has been featured or quoted in Investopedia, Business Insider, Forbes

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