Prepper's Guide to Junk Silver

By Tim Gamble (July 2, 2014)

An updated version of this article was published in 2025 on Wealth From Chaos (article link).

It is common advice within the prepper community to have some "junk" silver as a hedge against inflation and an alternative means of exchange in case of a collapse of the dollar. This article is meant as a Prepper's Guide to Junk Silver.

Precious metals, such as gold and silver, have been widely accepted as a form of economic exchange (currency) for all of human history. Unlike paper currency, gold and silver cannot be mass "printed" by governments and therefore cannot be "devalued" by inflation or government policy. If governments try to outlaw the use of gold and silver as a means of economic exchange, even banning private ownership, its long and universally recognized history as a form of currency ensues a robust black market. Therefore, gold and silver are seen as a solid hedge against inflation, a safe storehouse of wealth, and an alternative means of economic exchange during and after any economic crisis, including the collapse of the dollar.

What is Junk Silver?  The term junk silver is a bit misleading. Coins described as junk silver are by no means "junk" and can be quite valuable due to their silver content. The term is only meant to distinguish coins with little or no collectible premium above their silver content from coins that do have a collectible premium (rare coins, higher grade coins, key dates, errors, etc.).

Junk silver coins are mostly circulated coins (which show wear) from before 1965 and which typically contain 90% silver. Most coins minted in 1965 and later contain no silver. There are a few exceptions, which are noted on the chart below.

Remember, junk silver coins are those with little or no collector premium above the silver content. Many high-grade coins, rare coins, key dates, and errors have a collectible premium, and therefore are not true "junk" silver since they may be worth considerably more than their silver content.

How much is Junk Silver worth?  The price of silver changes almost daily (actually constantly throughout the day). You can check financial websites for the current price.

You can figure out how much you are being charged for the silver in junk 90% silver coins by applying the .715 rule (there is .715 troy ounce of silver per $1 of face value of 90% silver US coins, of any combination). First, divide the amount being asked by the face amount of the coins to get the amount being asked per $1 of face value. Then divide that amount by .715, and the result is how much per ounce of silver is being asked.

Example: Ten Washington silver quarters are being sold for $43. How much is being asked per ounce of silver? Face value being sold is $2.50 (10 X .25). Asking price of $43 divided by face value of $2.50 is $17.20, which is the amount you are paying per $1 of face value. $17.20 divided by .715 is $24.06. Therefore, you would be paying $24.06 per ounce of silver.

Please note that the .715 rule doesn't work with war nickels, 40% Kennedy halves, 40% Eisenhower dollars, and Silver Eagles because the silver content for those isn't 90%.

Another way to find out the melt value of coins is to look on the website coinflation.com.

When you sell to coin dealers, you can expect them to offer you less for your junk silver coins than the silver content is actually worth. Remember, this is how the dealers make a living, so you cannot expect full price from them. Most dealers will offer between 60% and 90% depending on several factors, including what exactly you are selling and the demand for junk silver that they are currently experiencing from there customers. If you feel their offer is too low, make a counter offer or try a different dealer.

Why Junk Silver?  In case of an economic crisis, including a collapse of the US dollar, there will be a need for an alternative to the dollar as a means of economic exchange. Barter (I'll give you a dozen eggs in exchange for a gallon of milk) will be one means of exchange, but there are difficulties with barter, which is why coinage developed in the first place.

Gold will be useful for large purchases (such as a home), but will be too valuable to be practical for small purchases (such as a dozen eggs).

Silver coins, on the other hand, will be much more convenient for smaller purchases. And since the value of junk silver coins comes mostly from their metal content, and since they come in denominations and designs the general public are already familiar with, they will be quickly and easily accepted as a form of currency.

How much do I need?  How much you junk silver you need to include in your preps is something you will need to figure out for yourself, and will depend on what your personal concerns and circumstances are, and how much you can reasonably afford. I will say that acquiring a lot of junk silver is something you should only do after covering the basics of your prepping (food, water, and other supplies), and that you should never go into debt to buy junk silver.

What types of silver coins should I get?  That is up to you, but I stick with circulated US dimes, quarters, and halves that are 90% silver. These are easily recognizable by the general public, and I avoid any possible confusion over the 35% and 40% coins. I also don't have to concern myself with any collectible premium.

Morgan and Peace dollars would also may be good choices, but are somewhat less recognizable by the general public. Silver Eagles (which I do also collect, but don't consider part of my junk silver) aren't circulated and carry a collectible premium.

Foreign coins and commemorative coins may contain silver, but will be much less recognized and accepted by the general public, so I avoid them.

Where do I get Junk Silver?  There are a lot of places you can get silver coins. Start by looking through the change you already have in your pockets, piggy bank, or that jar you drop loose change in when you empty your pockets at night. Be sure to always check the change you get everyday. Though uncommon, there are still some silver coins in circulation.

You can buy rolls of dimes, quarters, and halves from your bank. You can then search the rolls looking for silver coins, then return the rest. There is no risk in this method, since even if you find no silver coins, you still have the same face value that you bought. It is a bit of a hassle for the banks, so some banks/tellers may be a bit grumpy about it, but most will work with you. Search You Tube for Coin Roll Hunting for more information.

You can also buy unsearched rolls of coins from coin dealers and off of eBay, but these will usually charge a slight premium over face. Also, how do you know if the rolls are truly unsearched? I personally would not buy unsearched rolls unless I knew and trusted the dealer very well.

Visit local coin dealers. They will have a lot of junk silver coins you can buy, both loose and by the roll. You will pay a slight premium over the price of the silver content (but that is how the dealer makes a living). How much a premium will vary from dealer to dealer, and will depend on how much and what exactly you are buying.

Shop on eBay. Do an eBay search for Junk Silver and you will get pages of results to shift through. Be cautious! Especially with dealers who are not local to you. Pay attention to their customer reviews and feedback score; deal only with established dealers with very high scores. Read carefully the written description of the item and make sure you know what you are bidding on (don't go just by the photo). Make a small test purchase from a dealer first to see how it goes before making any larger purchases from that dealer.

Visit local flea markets, antique shops, and yard sales. You can often find coins being sold by non-dealers who don't pay close attention to the daily fluctuations in the price of silver. The opportunity is for some really great bargains.

You can also buy from the many large gold and silver brokers that often advertise on talk radio and the financial cable networks.

So, Junk Silver is a good investment?  Maybe. Maybe not. I am not discussing junk silver as an investment, but rather as a storehouse of wealth, a hedge against inflation, and a potential alternative to paper money as currency. I buy junk silver in order to protect my purchasing power, not in hopes of making a return on an investment. 
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Dystopian Survival Skills - A New List for a Dangerous Future

By Timothy Gamble

Dystopian dis-ˈtō-pē-ən adj.: 1) of, relating to, or being a world or society in which most people lead wretched, dehumanized, fearful lives; 2) a world of high technology, marked by authoritarian government and powerful corporations, with a huge divide between a privileged elite, and a disempowered underclass they rule over.

In science fiction, a dystopian world is typically presented as one in which a small class of elites use a combination of authoritarian government, powerful & wealthy corporations, and highly advanced technology, to rule over the common people. The world the elite create for themselves is one of extreme wealth, power, and privilege. It is created at the expense of a much larger underclass, who have slowly lost their personal liberties, economic freedoms, and privacy rights. A deep network of unelected bureaucrats and corrupt politicians, often financed and aided by the deep pockets of the corporate elite, work diligently to entrench this new order into the regulations, laws and treaties governing their world.

The propaganda used by the elites to justify this situation is marked by twisting seemingly positive words such as progress, equality, fairness, and diversity in ways to fit their agenda. This twisting of language, a creating of newspeak, is made possible by their near monopolistic control of the news media, popular culture, and academia. Traditional institutions and ideas, such as the family, God, and patriotism, are intentionally ridiculed and destroyed, leaving government as the only remaining source of authority and focus for loyalty. Thus, this new order is firmly accepted in the minds of most of the disempowered underclass. 

Sound familiar? If this is a description of a dystopian future, then the future is now. No longer in the realm of science fiction, dystopia is playing out before our eyes, if only we are willing to look. And it is not going away anytime soon. Dystopia is rising.

But what does that mean to preppers and survivalists? What difference does it make what the threat is? How is preparing for the reality of dystopia any different from preparing for anything else we are preparing for?

In modern prepper and survivalist fiction, the storyline typically goes something like this:

• Things have been getting bad of awhile 
• The "sheeple"  aren't paying attention, suffering from normalcy bias, dumbed down by public education, and bought off by "free stuff" from the government
• At some point there is a Trigger Event (SHTF) that causes a relatively quick collapse 
• The Trigger Event is followed by a period (a few months to at most a few years) of intense anarchy, violence, and even civil war
• Modern infrastructure collapses
• Many of the sheeple are shocked out of their long slumber by this harsh reality
• The sheeple that don't wake up, die
• Eventually, the good guys (the newly awakened sheeple, lead by preppers & survivalists) win!!!
• The world is saved, the Republic is restored, and our rights are protected for all time to come
• Technology is still around, but plays a smaller role, controlled in a way to be less prone to abuse

Sounds great. However, it is far more fantasy than anything else. The emerging reality of dystopia will be much longer lasting, less obvious, and more brutal. And there will not be a happy ending anytime soon.

Here is how I see dystopia unfolding: 

• Things have been getting bad of awhile 
• The "sheeple"  aren't paying attention, suffering from normalcy bias, dumbed down by public education, and bought off by "free stuff" from the government
• Things actually get even better for the elite class, as their wealth, power, and privilege increase
• Things continue to get worse for the underclass (which is most of us), as our freedoms, opportunities, and privacy continue to erode
• There is no Trigger Event
• Most of the Sheeple don't wake up (a few do, but not nearly enough)
• A new, permanent civilization emerges, with a very small elite class ruling over all, a small (much smaller than currently) middle class serving the ruling elites, and a very large underclass, living small, desperate, fearful lives
• Technology grows ever more powerful, and is successfully used by the elite to control the underclass

Not very pleasant sounding, is it? But I would argue that it is the emerging reality.

In the prepper and survivalist fantasy scenario, emphasis is placed on those things that would help us survive a short-term emergency and collapse - food and water storage, homesteading skills, wilderness survival skills, and so on. While those skills are useful and important, they don't go far enough for survival in a true dystopian future.

Dystopian Survival Situations: 

• Loss of Freedoms & Privacy (directly though legislation such as "hate speech" and "red flag" laws, or indirectly, via political correctness, Big Tech censorship & data mining, etc.)
• Continued (and intentional) breakdown of traditional institutions such as the Family and the Church
• Recession, Job Loss, High Inflation, and Economic Turmoil
• Workforce Displacement via technology
• Political Turmoil & Police State Actions  
• Civil Unrest, including Riots & Looting
• Identity Theft 
• Cyber Threats 
• Violent Crime 
• Active Shooter Situations 
• Terrorism 
• Epidemics & Pandemics 

Knowing how to build an emergency shelter or start a fire in the rain probably won't do you much good in most of those scenarios. Not that there is anything wrong with those skills. They are useful and are worth learning. But there are many other skills that you should also learn in order to survive dystopia.

Dystopian Survival Skills

Dystopian survival starts with awareness of potential problems and developing self-reliance. 

Awareness requires us to take an honest look at the dangers of the world around us, and not just adopt the idea that "nothing really bad will ever happen, and even if it does, that is why we have a government," an attitude so common among most Americans today.

Self-reliance is an attitude of responsibility and accountability. It is up to us to take care of ourselves and our families - not society, the government, public schools, or any other "authorities." It is our duty to watch out for life's potential pitfalls, and to take proactive steps ahead of time to prevent or survive those pitfalls.  

Building on the foundation of awareness and self-reliance, there are many other useful skills for surviving dystopia, including:

• Situational Awareness & OODA Loop 
• Operational Security/Privacy Protection 
• Dealing with an Intrusive Government 
• Dealing with busybody neighbors, landlords, etc. 
• Local Knowledge (knowing your area) 
• Being the Gray Man (fitting in and going unnoticed) 
• Making yourself an unappealing target for bad guys (know how to not look like a victim) 
• Mobility (the ability to pull up roots and move away from threats and towards opportunities)
• Money Management & Personal Finance Skills 
• Computer and Technology Skills (using technology to your benefit, while knowing and protecting yourself from the risks)
• Self-Defense and Home-Defense Skills (more than just guns & ammo) 
• Knowing what to do in an active shooter situation 
• Knowing what to do if you get caught in a civil unrest or riot situation 
• Health & Fitness (you do not want to be dependent on the government public healthcare system)
• Stealth/Alternative Medicine (you do not want to be dependent on the government public healthcare system) 
• First Aid (including dealing with gunshot wounds and other severe trauma) 
• Employability in an era of High Tech and Artificial Intelligence

This list is, of course, just the tip of the iceberg of needed skills. If you have suggestions for other needed skills, just put them in the comments section below.

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