junk silver

Junk Silver or Junk Bonds?

Junk Silver

“Junk silver” and “junk bags” are terms that refer to $1000 in U.S. coinage—dimes, quarters, or half dollars minted 1964 or earlier; commonly known junk bags consist of 90% silver. Junk bags of silver dollars are sold separately and have always held a higher premium.

We are talking about coins that are only in fair condition and have no collectible value above the bullion value or the “melt value.” The word “junk” refers only to the value of the coins as bullion, and “junk” is not scrap silver.

When these coins were freshly minted they contained 0.7234 troy ounces of silver per dollar of face value. In practice, the recognized weight of fine silver is 0.715 troy ounces per coin, or 715 troy ounces per bag—a bit less than original, due to wear. Thus the market recognized junk bags as containing 715 ounces of silver if smelted to 0.999 purity. Less common as junk silver are Kennedy half dollars from 1965 to 1970, which contained 40% silver.

In days gone by, junk bags of Canadian dimes and quarters were in the marketplace, but in today’s world very few exist. The Canadian coins contained 80% silver (0.600 troy ounces per dollar of face value) until 1966. In 1967, they were minted in both 80% and 50% varieties. In 1968, they either contained 50% silver or none at all ((such as the Cupro-Nickel). Dollars and half dollars were minted in 80% silver until 1967.

Junk silver coins are still considered legal tender and at many times have carried very low premiums. Today, however, the premium on junk bags is about 20% or more. There have been higher premiums near the peak of the silver price in 1980 and also during Y2K, when silver bags were in high demand.

For those beginning to invest in the real silver market, U.S. silver coins are easily recognized. In addition to being easy to describe to someone who has never seen a 90% silver coin in their lifetime, coins provide convenient divisibility. In other words they can be traded in small amounts, while a silver bar of perhaps 100 troy ounces cannot be divided or used for small transactions.

Simply stated, junk silver is popular among survivalists, but today it might be added among financial survivalists! In the event of a currency collapse, it is speculated by many in the precious metals community that silver coins could provide a viable alternative to today’s currency (scrip), commonly perceived to be money.

So, that is a very brief summary of “junk” silver and it must be pointed out that there is no default risk associated with owning silver. The price does vary along with all other assets, so you might risk not being able to trade your silver for the same amount of currency used for the initial purchase.

Junk Bonds

Now let’s look at “junk bonds.” A junk bond is a high yield bond that is rated below investment grade at the time of purchase. Bonds can also become “junk” if the market determines that the issuer’s risk has increased. For a quick example, at one time General Motors bonds carried a very high rating with the risk of default being extremely low, but today does anyone think that GM is capable of paying back the bondholders? These junk bonds are called “Fallen Angels.” Generally, junk bonds have a higher risk of default or other adverse credit events, but typically pay higher yields than better quality bonds.

Risks in all bond investments, including “high” quality bonds:

1. Inflation

2. Currency risk

3. Risk of Principal

4. Market Risk

5. Political Risk

6. Default Risk

7. Liquidity Risk

There are other risks but the point is made: bonds of any caliber have risk! In this day and age, nearly everyone is familiar with the fact that certain rating agencies described the risk of certain “assets” to be high grade at near zero risk. Today that is laughable but certainly no joke, as it has basically taken down the global markets to the present level, and the trust (confidence) in the system has been greatly damaged.

These days, we see many fleeing to government bonds, due to the perceived safety. However, it might be interesting to note the words of currency expert, the late Dr. Franz Pick, who said that government bonds are “certificates of guaranteed confiscation.”

We might ask if Franz Pick’s statement is true or false. Perhaps we can approach the question differently since the outstanding public debt is roughly $35,000 for everyone in the U.S. Simply ask yourself if you, your friends, and your neighbors are able to pony up the amount required on a per capita basis. If so, don’t worry be happy! But if roughly $140,000 per household is not in your petty cash drawer (or your neighbor’s) you might start to consider what really deserves to be called junk—bonds or silver.

Jimmy Rogers states, “I’m now selling long-term U.S. government bonds short. That’s the last bubble I can find in the U.S. I cannot imagine why anybody would give money to the U.S. government for 30 years for less than a 4% yield. I certainly wouldn’t. There are going to be gigantic amounts of bonds coming to the market, and inflation will be coming back.”

As the debt burden continues to increase, more and more people will see the light and realize that it is not the government responsible for paying off the bonds—it’s the people themselves. And where is that “money” coming from?

It is an honor to be,

David Morgan

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Friday, December 12th, 2008 David Morgan Comments Off

Junk Silver Ratings: The Top Five Places to Find Junk Silver

Coins may be call “junk silver,” but far from a junkie investment. Junk silver is a term thrown-on the coins by coin collectors because most of these coins won’t have a collector’s value. But junk silver has value in the eyes of silver investors. So, where do you find your next silver investment in junk silver? Here are a few ideas to start with. Rated from number one to five, we’ve listed five places to find junk silver as an investment.


1. eBay – rated number one because junk silver in thousands of varieties abound on eBay. If you’re looking for $5 dollars or $1,000 dollars of junk silver almost any amount can be found on eBay. In addition to the amount of junk silver, eBay also provides information on the credibility of each seller. As an investor buying your next asset, finding an honest seller could mean the difference between profit or loss.

If you do decide to use eBay, it’s easier to find junk silver if you search for more specific junk silver. For example searching eBay for “junk silver” will turn up fewer results than searching for terms like: pre-1964 U.S. Circulated Quarters, or Batch of Silver 1964 Nickels. Also be aware of the sellers rating, the seller’s information can be found to the right of a listing under the heading: “Meet the Seller.” These ratings will provide you with the honesty and credibility of the seller.

2. Lynn Coins – is rated right below eBay only because of the slightly less amount of options. You can find bags of junk silver from $129-$2,175. Although the options are limited, buyers won’t have to spend much time searching. Unlike eBay’s thousands of choices, at Lynn Coins there are 10 choices.

Even though the website looks a little out-of-date and somewhat unprofessional, Lynn Coins is a PayPal verified site—which means the sale has more security than third-party systems you might not know. Also, according to PayPal, Lynn Coins has been in business for seven years, and Lynn Coins has processed “3,406 buyers.”

3. C.C. Silver & Gold Inc. – this company offers a more professional approach. And for investors with a large purchase of $1,000 or more, C.C. is a better option than eBay. Unlike CMI, C.C. seems to have more coin choices as well, as of now C.C.’s website is showing options for Morgan Dollars, Peace Dollars, and 90% Silver coins with U.S. Half-dollars, Quarters, and Dimes all dated before 1964.

While browsing the selection, I noticed non-users will be confused at the process of purchasing what she is looking for. I had a hard time knowing what pull-down option to choose. So, if you don’t use the Internet well, CMI might be a better option.

4. CMI Gold & Silver – Offers junk silver bags to investors worried about professional businesses. Just take a look at the spotless design of CMI’s website. Now there’s a professional website. Anyways, a professional website does not necessarily increase the returns of an investor, and in this case CMI does offer junk silver at the same premium of silver bullion.

One of the downfalls of CMI is the lack of an on-line store. CMI wants buyers to call CMI as to “help you make the right decision for your precious metal investment.” However, professional CMI’s website, requiring investors to call CMI is rather inconvenient. For the Internet users, CMI is not for you; however, for some CMI is the place.

5. Monex Deposit Company – Along with the professional image CMI casts, Monex casts the same. Or it might be egotism, either way Monex says it “[has] led the industry in silver coin investing programs.” But that claim is hard to verify. Again, Internet shoppers will be disappointed because Monex wants you to call an account representative before you can make a purchase.

To concluded this article in rather simple terms, if you love the Internet use eBay, Lynn Coins, or C.C. Silver & Gold Inc., but if not use CMI or Monex. Likewise, if you have a limited amount of money, less than $500, use eBay, or Lynn Coins, but if you have more than $500 go to C.C. Silver & Gold Inc, CMI, or Monex.

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Wednesday, September 19th, 2007 Reviews 4 Comments

1932 – 1964 Silver Quarter: 90% silver

a image of the Washington silver quarter

1932 – 1964 Silver Quarter is 90% silver. Use the Silver Melt Value calculator to see the value of silver in this coin. This quarter is classified as “junk silver“, read more about junk silver as an investment. You can also invest in silver using a Silver ETF.


Listed below are the mintage numbers for each year. The year column lists the year and mint mark on the coin where, D is for Denver, S is for San Francisco, and P is for Philadelphia. Also, a coin without a mint mark means the coin was minted in Philadelphia.

The Mintage column is the number of coins struck and released by the U.S. Mint.

The Numismatic Value Range column represents what people typically pay for that type of coin (usually a very wide price range depending on the condition and demand of the coin).

 

Year Mintage Numismatic Value
1932 5,404,000 $4.00 – $400.00
1932 D 436,800 $200.00 – $1,500.00
1932 S 408,000 $200.00 – $1,500.00
1934 31,912,052 $3.00 – $100.00
1934 D 3,527,200 $4.00 – $1,200.00
1935 32,484,000 $3.00 – $1,500.00
1935 D 5,780,000 $3.00 – $900.00
1935 S 5,660,000 $3.00 – $900.00
1936 41,300,000 $3.00 – $100.00
1936 D 5,374,000 $5.00 – $1,500.00
1936 S 3,828,000 $4.00 – $600.00
1937 19,696,000 $3.50 – $80.00
1937 D 7,189,600 $3.50 – $220.00
1937 S 1,652,000 $4.50 – $400.00
1938 9,472,000 $4.50 – $300.00
1938 S 2,832,000 $4.50 – $300.00
1939 33,540,000 $3.50 – $60.00
1939 D 7,092,000 $3.50 – $130.00
1939 S 2,628,000 $4.50 – $390.00
1940 35,704,000 $3.00 – $60.00
1940 D 2,797,600 $3.00 – $350.00
1940 S 8,244,000 $3.00 – $60.00
1941 79,032,000 $3.00 – $35.00
1941 D 16,714,800 $3.00 – $35.00
1941 S 16,080,000 $3.00 – $35.00
1942 102,096,000 $3.00 – $35.00
1942 D 17,487,200 $3.00 – $35.00
1942 S 19,384,000 $3.00 – $35.00
1943 99,700,000 $3.00 – $30.00
1943 D 16,095,600 $3.00 – $30.00
1943 S 21,700,000 $3.00 – $30.00
1944 104,956,000 $3.00 – $30.00
1944 D 14,600,800 $4.00 – $60.00
1944 S 12,560,000 $4.00 – $60.00
1945 74,372,000 $3.00 – $70.00
1945 D 12,341,600 $3.50 – $70.00
1945 S 17,004,000 $3.50 – $70.00
1946 53,436,000 $3.50 – $50.00
1946 D 9,072,800 $4.00 – $130.00
1946 S 4,204,000 $4.50 – $130.00
1947 22,556,000 $3.00 – $30.00
1947 D 15,388,000 $3.00 – $30.00
1947 S 5,532,000 $3.00 – $125.00
1948 35,196,000 $3.00 – $30.00
1948 D 16,766,800 $3.00 – $30.00
1948 S 15,960,000 $3.00 – $30.00
1949 9,312,000 $3.00 – $30.00
1949 D 10,068,400 $3.00 – $30.00
1950 24,920,126 $3.00 – $30.00
1950 D 21,075,600 $3.00 – $30.00
1950 S 10,284,004 $3.00 – $30.00
1951 43,448,102 $3.00 – $30.00
1951 D 35,354,800 $3.00 – $30.00
1951 S 9,048,000 $3.00 – $30.00
1952 38,780,093 $3.00 – $30.00
1952 D 49,795,200 $3.00 – $30.00
1952 S 13,707,800 $3.00 – $30.00
1953 18,536,120 $3.00 – $30.00
1953 D 56,112,400 $3.00 – $30.00
1953 S 14,016,000 $3.00 – $30.00
1954 54,412,203 $3.00 – $30.00
1954 D 42,305,500 $3.00 – $30.00
1954 S 11,834,722 $3.00 – $30.00
1955 18,180,181 $3.00 – $30.00
1955 D 3,182,400 $5.00 – $250.00
1956 44,144,000 $3.00 – $30.00
1956 D 32,334,500 $3.00 – $30.00
1957 46,532,000 $3.00 – $30.00
1957 D 77,924,160 $3.00 – $30.00
1958 6,360,000 $3.50 – $100.00
1958 D 78,124,900 $3.00 – $30.00
1959 24,384,000 $3.00 – $30.00
1959 D 62,054,232 $3.00 – $30.00
1960 29,164,000 $3.00 – $30.00
1960 D 63,000,324 $3.00 – $30.00
1961 37,036,000 $3.00 – $30.00
1961 D 83,656,928 $3.00 – $30.00
1962 36,156,000 $3.00 – $30.00
1962 D 127,554,756 $3.00 – $30.00
1963 74,316,000 $3.00 – $30.00
1963 D 135,288,184 $3.00 – $30.00
1964 560,390,585 $3.00 – $30.00
1964 D 704,135,528 $3.00 – $30.00

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Saturday, August 18th, 2007 Investing 48 Comments

1878 – 1921 Silver Morgan Dollar: 90% silver

Image of Silver Morgan Dollar1878 – 1921 Silver Morgan Dollar is 90% silver, and is classified as “junk silver” (read more about junk silver). Use the Silver Value calculator to see the value of silver in this coin.

Listed below are the mintage numbers for each year. The year column lists the year and mint mark on the coin where, D is for Denver, S is for San Francisco, P is for Philadelphia, O is for New Orleans, and CC for Carson City. Also, a coin without a mint mark means the coin was minted in Philadelphia.

The Mintage column is the number of coins struck and released by the U.S. Mint.

The Numismatic Value Range column represents what people typically pay for that type of coin (usually a very wide price range depending on the condition and demand of the coin).

Date Mintage Numismatic Value
1878 10,500,000  
1878-CC 2,212,000  
1878-S 9,774,000  
1879 14,806,000  
1879-CC 756,000  
1879-O 2,887,000  
1879-S 9,110,000  
1880 12,600,000  
1880-CC 591,000  
1880-O 5,305,000  
1880-S 8,900,000  
1881 9,162,991  
1881-CC 296,000  
1881-O 5,708,000  
1881-S 12,760,000  
1882 11,100,000  
1882-CC 1,133,000  
1882-O 6,090,000  
1882-S 9,250,000  
1883 12,290,000  
1883-CC 1,204,000  
1883-O 8,725,000  
1883-S 6,250,000  
1884 14,070,000  
1884-CC 1,136,000  
1884-O 9,730,000  
1884-S 3,200,000  
1885 17,787,000  
1885-CC 228,000  
1885-O 9,185,000  
1885-S 1,497,000  
1886 19,963,000  
1886-O 10,710,000  
1886-S 750,000  
1887 20,290,000  
1887-O 11,550,000  
1887-S 1,771,000  
1888 19,183,000  
1888-O 12,150,000  
1888-S 657,000  
1889 21,726,000  
1889-CC 350,000  
1889-O 11,875,000  
1889-S 700,000  
1890 16,802,000  
1890-CC 2,309,041  
1890-O 10,701,100  
1890-S 8,230,373  
1891 8,693,556  
1891-CC 1,618,000  
1891-O 7,954,529  
1891-S 5,296,000  
1892 1,036,000  
1892-CC 1,352,000  
1892-O 2,744,000  
1892-S 1,200,000  
1893 378,000  
1893-CC 677,000  
1893-O 300,000  
1893-S 100,000  
1894 110,000  
1894-O 1,723,000  
1894-S 1,260,000  
1895 12,000  
1895-O 450,000  
1895-S 400,000  
1896 9,976,000  
1896-O 4,900,000  
1896-S 5,000,000  
1897 2,822,000  
1897-O 4,004,000  
1897-S 5,825,000  
1898 5,884,000  
1898-O 4,400,000  
1898-S 4,102,000  
1899 330,000  
1899-O 12,290,000  
1899-S 2,562,000  
1900 8,830,000  
1900-O 12,590,000  
1900-S 3,540,000  
1901 6,962,000  
1901-O 13,320,000  
1901-S 2,284,000  
1902 7,994,000  
1902-O 8,636,000  
1902-S 1,530,000  
1903 4,652,000  
1903-O 4,450,000  
1903-S 1,241,000  
1904 2,788,000  
1904-O 3,720,000  
1904-S 2,304,000  
1921 44,690,000  
1921-D 20,345,000  
1921-S 21,695,000  

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Friday, August 17th, 2007 Investing Comments Off

1948 – 1963 Franklin Half Dollar: 90% silver

Franklin Half Dollar Front Image1948 – 1963 Franklin Half Dollar is 90% silver, and as such is classified as junk silver. You can Use the Silver Coin Value calculator to see the value of silver in this coin.

Listed below are the mintage numbers for each year. The year column lists the year and mint mark on the coin where, D is for Denver, S is for San Francisco, and P is for Philadelphia. Also, a coin without a mint mark means the coin was minted in Philadelphia.

The Mintage column is the number of coins struck and released by the U.S. Mint.

The Numismatic Value Range column represents what people typically pay for that type of coin (usually a very wide price range depending on the condition and demand of the coin).

Year Mintage Numismatic Value Range
1948 3,006,814 $7.00 – $210.00
1948-D 4,028,600 $7.00 – $300.00
1949 5,614,000 $7.00 – $290.00
1949-D 4,120,600 $9.00 – $500.00
1949-S 3,744,000 $9.00 – $600.00
1950 7,742,123 $7.00 – $210.00
1950-D 8,031,600 $8.00 – $900.00
1951 16,802,102 $7.00 – $300.00
1951-D 9,475,200 $7.00 – $600.00
1951-S 13,696,000 $7.00 – $600.00
1952 21,192,093 $7.00 – $300.00
1952-D 25,395,600 $7.00 – $400.00
1952-S 5,526,000 $10.00 – $1,100.00
1953 2,796,920 $11.00 – $900.00
1953-D 20,900,400 $7.00 – $300.00
1953-S 4,148,000 $9.00 – $2,000.00
1954 13,188,203 $7.00 – $300.00
1954-D 25,445,580 $7.00 – $300.00
1954-S 4,993,400 $8.00 – $500.00
1955 2,876,381 $20.00 – $400.00
1956 4,032,000 $7.00 – $200.00
1957 5,114,000 $7.00 – $150.00
1957-D 19,996,850 $7.00 – $100.00
1958 4,042,000 $7.00 – $120.00
1958-D 23,962,412 $7.00 – $100.00
1959 6,200,000 $7.00 – $300.00
1959-D 13,053,750 $7.00 – $250.00
1960 6,024,000 $7.00 – $350.00
1960-D 18,215,812 $7.00 – $500.00
1961 8,290,000 $7.00 – $800.00
1961-D 20,276,442 $7.00 – $800.00
1962 9,714,000 $7.00 – $1,500.00
1962-D 35,473,281 $7.00 – $700.00
1963 22,164,000 $7.00 – $500.00
1963-D 67,069,292 $7.00 – $200.00

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Thursday, August 16th, 2007 Investing Comments Off

1916 – 1947 Walking Liberty Half Dollar: 90% silver

Walking Liberty Silver Half Dollar

1916 – 1947 Walking Liberty Half Dollar is 90% silver, which classifies the coin as junk silver. You can Use the Silver Melt Value calculator to see the value of silver in this coin.

Listed below are the mintage numbers for each year. The year column lists the year and mint mark on the coin where, D is for Denver, S is for San Francisco, and P is for Philadelphia. Also, a coin without a mint mark means the coin was minted in Philadelphia.

The Mintage column is the number of coins struck and released by the U.S. Mint.

The Numismatic Value Range column represents what people typically pay for that type of coin (usually a very wide price range depending on the condition and demand of the coin).

Date Mintage Numismatic Value
1916 608,000 $47.00 – $1,900.00
1916-D 1,014,400 $47.00 – $2,000.00
1916-S 508,000 $110.00 – $4,000.00
1917 12,292,000
1917-D 765,400
1917-D 1,940,000
1917-S 952,000
1917-S 5,554,000
1918 6,634,000
1918-D 3,853,040
1918-S 10,282,000
1919 962,000
1919-D 1,165,000
1919-S 1,552,000
1920 6,372,000
1920-D 1,551,000
1920-S 4,624,000
1921 246,000 $175.00 – $6,000.00
1921-D 208,000 $275.00 – $5,000.00
1921-S 548,000 $40.00 – $1,4000.00
1923-S 2,178,000
1927-S 2,392,000
1928-S 1,940,000
1929-D 1,001,200
1929-S 1,902,000
1933-S 1,786,000
1934 6,964,000
1934-D 2,361,400
1934-S 3,652,000
1935 9,162,000
1935-D 3,003,800
1935-S 3,854,000
1936 12,614,000
1936-D 4,252,400
1936-S 3,884,000
1937 9,522,000
1937-D 1,676,000
1937-S 2,090,000
1938 4,110,000 $140.00 – $1,700.00
1938-D 491,600
1939 6,812,000
1939-D 4,267,800
1939-S 2,552,000
1940 9,156,000
1940-S 4,550,000
1941 24,192,000
1941-D 11,248,400
1941-S 8,098,000
1942 47,818,000
1942-D 10,973,800
1942-S 12,708,000
1943 53,190,000
1943-D 11,346,000
1943-S 13,450,000
1944 28,206,000
1944-D 9,769,000
1944-S 8,904,000
1945 31,502,000
1945-D 9,966,800
1945-S 10,156,000
1946 12,118,000
1946-D 2,151,000
1946-S 3,724,000
1947 4,094,000
1947-D 3,900,600

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Saturday, July 14th, 2007 Investing Comments Off

1916 – 1945 Mercury Dime: 90% Silver

1949 Mercury Dime front view

The 1916-D is the key to the series and is eagerly sought after in all grades. While, in 1942 the last year in which proofs of this type were made, due in large part to the advent of World War II.


Look for the rare 1942/1 over-date on circulation strikes. And, 1945 un-circulated examples with Full Split Bands are very rare. Yet, the 1945-S comes with a normally sized mint-mark and a very tiny "Micro S".

The 1916 – 1945 Mercury Dime contains 90% silver which is 0.0723 troy ounces of silver, thus classified as junk silver. You can use the Silver Melt Value calculator to see the value of silver in this coin.

Listed below are the mintage numbers for each year. The year column lists the year and mint mark on the coin where, D is for Denver, S is for San Francisco, and P is for Philadelphia. Also, a coin without a mint mark means the coin was minted in Philadelphia.

The Mintage column is the number of coins struck and released by the U.S. Mint.

The Numismatic Value Range column represents what people typically pay for that type of coin (usually a very wide price range depending on the condition and demand of the coin).

Date Mintage Numismatic Value
1916 22,180,080
1916-D 264,000
1916-S 10,450,000
1917 55,230,000
1917-D 9,402,000
1917-S 27,330,000
1918 26,680,000
1918-D 22,674,800
1918-S 19,300,000
1919 35,740,000
1919-D 9,939,000
1919-S 8,850,000
1920 59,030,000
1920-D 19,171,000
1920-S 13,820,000
1921 1,230,000 $35.00 – $1,575.00
1921-D 1,080,000 $55.00 – $1,750.00
1923 50,130,000
1923-S 6,440,000
1924 24,010,000
1924-D 6,810,000
1924-S 7,120,000
1925 25,610,000
1925-D 5,117,000
1925-S 5,850,000
1926 32,160,000
1926-D 6,828,000
1926-S 1,520,000
1927 28,080,000
1927-D 4,812,000
1927-S 4,770,000
1928 19,480,000
1928-D 4,161,000
1928-S 7,400,000
1929 25,970,000
1929-D 5,034,000
1929-S 4,730,000
1930 6,770,000
1930-S 1,843,000
1931 3,150,000
1931-D 1,260,000
1931-S 1,800,000
1934 24,080,000
1934-D 6,772,000
1935 58,830,000
1935-D 10,477,000
1935-S 15,840,000
1936 87,500,000
1936-D 16,132,000
1936-S 9,210,000
1937 56,860,000
1937-D 14,146,000
1937-S 9,740,000
1938 22,190,000
1938-D 5,537,000
1938-S 8,090,000
1939 67,740,000
1939-D 24,394,000
1939-S 10,540,000
1940 65,350,000
1940-D 21,198,000
1940-S 21,560,000
1941 175,090,000
1941-D 45,634,000
1941-S 43,090,000
1942 205,410,000
1942-D 60,740,000
1942-S 49,300,000
1943 191,710,000
1943-D 71,949,000
1943-S 60,400,000
1944 231,410,000
1944-D 62,224,000
1944-S 49,490,000
1945 159,130,000
1945-D 40,245,000
1945-S 41,290,000

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Friday, July 13th, 2007 Investing 5 Comments