Silver 90% Bag – $1,000 Face Value
Before 1965, U.S. silver dimes and quarters were comprised of 90% silver and 10% copper. These worn coins are now generally sold in $1,000 silver bags, with “$1,000” referring to the the sum of the coins’ face values. Regardless of the mix of coins, $1,000 silver bags all have the same amount of silver, about 715 troy ounces.
These bags also come in half and quarter bags (i.e., $500 and $100 bags). Silver bags also can be purchased in 40% silver bags, but 90% silver bags are more common. In the trade, silver bags are sometimes referred to as “junk silver,” not because of the silver’s quality, but because the coins have been removed, “junked,” from circulation.