90% Silver Bag $1000 Face Value

(12 customer reviews)
Sell to Gold Dealer

Buy from Gold Dealer









Gross Weight: 54 pounds – $1000 Face Value (2 X $500 bags)
Fineness: .900 fine
Silver Content: 715 troy oz
Dimension: Each $500 bag measures 14″ x 8″ x 3″

We Also Sell Bags In $250 Face Value

SKU: AG90 Categories: , ,

Description

90% Silver Bag $1000 Face Value

Since the early days of silver bullion investing the 90% Silver Bag has been one of the most popular choices worldwide. These Bags contain real U.S. silver coins struck in 1964 or before in denominations of dimes, quarters, or half dollars. These fall into the general category of Legal Tender silver bullion, which has a specific definition in that Legal Tender is actually real money and can be minted only by sovereign governments.

A $1000 face value 90% Silver Bag weighs about 54 pounds and the contents are sometimes called “junk” silver. This unfortunate name was developed in the 1970’s and used to describe a bag of average circulated silver coins which did not contain coins which were rare or collectable and so traded for their silver weight.

The bags contain $1000 (2 $500 bags) face so if half dollars were used there would be 2,000 coins. If the bag contained quarters the count would be 4,000 coins and if dimes there would be 10,000 coins.

If a 90% Silver Bag were melted it would contain about 715 ounces of pure silver but this is seldom done because US silver coins are worth a small premium. All US silver coins struck in 1964 or before are 90% pure silver so bags will move up or down in value following the daily price changes in the silver market. A handy way to approximate bag price changes figure a commercial bag will move $7.00 for every one cent change in the daily silver market.

For your convenience in handling and storage we divide the $1000 face 90% Silver Bag into two smaller bags of $500 face. Each of these smaller bags will contain all dimes, all quarters, or all half dollars so they are not mixed.

Usually the selling price of all these bags reflect their silver content, but because old silver coins are no longer being produced higher premiums sometimes develop. The premium on 90% Silver Bags can vary from negative (trading for less than content) to as much as 30% over their silver weight because of changes in public demand.

The four most important reasons investors favor $1000 face 90% Silver Bags are: (1) these real silver coins are recognized worldwide because they were minted by the United States government. (2) The divisibility of small silver coins is a big advantage. (3) Because US silver coins actually circulated in commerce there are many who believe this Legal Tender status may once again be called upon if the use of paper currency is questioned. (4) Because they trade close to their silver weight dealers have established a long history of tight buy and sell prices which follow the COMEX silver price.

There is no reporting requirement when you purchase 90% Silver. Dealers are required to report your sale of a full $1000 face (I.R.S. Form 1099B). Your sale of less than $1000 face 90% silver coins is not reportable by your dealer.

Have more questions about the $1000 face 90% Silver Bags? We are here to help Ask an Expert

Visit our Audio Gold News Page for information on the precious metals market. Updated daily.

Additional information

Weight 715 oz

12 reviews for 90% Silver Bag $1000 Face Value

  1. A. N.

    I bought a quarter bag, it came nicely labeled and was closed with a tamper proof seal. I will be buying more soon

  2. mike thoman

    Why a $4250 difference between buy and sell? I remember when it used to be around $1000! This is extremely excessive!

  3. William M Weirich

    Why why why the large spread??? That doesn’t follow your typical norm from the past…. Usually you guys keep this pretty damn tight. Whats up? I was thinking of coming down and selling some to you, but now i’m rethinking it….

  4. Matthew Winter

    There is a big spread, but quarters and dimes will be the only way to purchase anything worth less than $100.
    Every Eagles needs ten chicks.
    In other words, small change will be desperately needed.

  5. D. B.

    All the precious metal dealers are doing the big spread between buy and sell price due to the high demand. It is a rip off as well as the super high buy price over the current spot metal price! They are making bank big time now!

  6. Donald

    CNI is just trying to stay in business. Yes the spreads are crazy right now, but there has been very little product available, if they sold it for way less than anyone else they would be out of business until supplies return
    ( which should be very soon hopefully). It costs to stay in business. if you sell less product you have to raise your margins. I had to wait a couple weeks for delivery, but they got me what I wanted. I have used them for years, I trust them. I recommend them when friends or family ask. They are the best.

  7. Ernestine

    This is what you want when the world goes to hell.

  8. Russell

    I would have preferred half dollars but the quarters are nice too

  9. Malissa

    I have purchased the $500 face value bags and both times I received an exact count of face value. I will buy these until I run out of room.

  10. Dewey

    Heavy and bulky to store but I like having some in my collection.

  11. Estela

    I Ordered a bag and got it in no time, just make sure you ask for FedEx.

  12. Mitch

    Bags are heavy but it’s nice to have some in your safe

Add a review

Your email address will not be published. Required fields are marked *

You may also like…