Silver coins of all denominations dated 1964 or earlier are 90% pure silver. Though these coins are considered legal tender, the value of their silver content is higher than the coins’ face value. It’s a good strategy for anyone interested in investing in silver because you can buy it with little premium. You could also sell these silver coins to us if you bought them when silver was significantly less valuable. In the 1970s, bags of these coins were commonly referred to as “junk silver bags,” meaning a bag of average circulated silver coins with no rare coins.