Silver 90% Bag – $500 Face Value
Before 1965, U.S. silver dimes and quarters were comprised of 90% silver and 10% copper. $500 silver bags all have the same amount of silver, about 357.50 troy ounces.
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.