How Many Ounces of Silver Are in a Silver Dollar?
Learn the exact silver content of historical US dollar coins and understand the shift to modern, non-silver currency.
United States dollar coins were once a significant part of the nation’s circulating currency. These “silver dollars” captivate public interest due to their historical designs and precious metal content. Many wonder about the actual silver content in these coins. Understanding their composition provides insight into American monetary history.
Historical Context of US Silver Dollars
The first U.S. silver dollars, such as the Flowing Hair and Draped Bust varieties, were introduced in 1794. These early coins were made primarily of silver.
Throughout the 19th and early 20th centuries, silver dollars continued to be minted for circulation. Notable periods include the mid-19th century with the Seated Liberty dollars and the late 19th to early 20th century, which saw the widespread circulation of Morgan and Peace dollars.
For much of this history, circulating U.S. dollar coins, along with dimes, quarters, and half dollars, were produced with a standard composition of 90% silver and 10% copper. The copper added durability, allowing the coins to withstand daily commerce.
Specific Silver Content and Purity
The most recognized United States silver dollars, the Morgan Dollar and the Peace Dollar, share a consistent silver content. Each coin weighs 26.73 grams, composed of 90% silver and 10% copper. This means a single Morgan or Peace dollar contains 0.77344 troy ounces of pure silver.
To arrive at this figure, one can calculate 90% of the coin’s total weight in grams, then convert that amount to troy ounces. 26.73 grams multiplied by 0.90 (for 90% silver purity) yields approximately 24.057 grams of pure silver. Converting 24.057 grams to troy ounces results in 0.77344 troy ounces, as one troy ounce is equivalent to 31.1034768 grams.
Earlier silver dollars, such as the Seated Liberty and Gobrecht dollars, also largely adhered to a 90% silver standard, with slight variations in overall weight or total silver content in some early issues.
A “troy ounce” is a specific unit of measurement used for weighing precious metals like silver, gold, and platinum. It differs from the more common avoirdupois ounce used for everyday goods. One troy ounce weighs approximately 31.103 grams, which is about 10% heavier than a standard avoirdupois ounce. This standardized measurement ensures consistency in the valuation and trading of precious metals globally.
Distinguishing Modern Dollar Coins
Current circulating dollar coins in the United States no longer contain silver. Coins like the Susan B. Anthony dollar, Sacagawea dollar, and Presidential dollars are composed of a copper-nickel clad material. This change occurred primarily due to economic factors, specifically the rising market price of silver.
As the value of silver increased, the intrinsic metal value of silver coins began to exceed their face value, leading to widespread hoarding and melting of coins for their metal content. To address this and prevent a shortage of circulating coinage, the Coinage Act of 1965 eliminated silver from dimes and quarters and reduced the silver content in half dollars before removing it entirely by 1970.
While these modern dollar coins are not made of silver, the United States Mint does produce the American Silver Eagle, which is a bullion coin. The American Silver Eagle contains one troy ounce of 99.9% pure silver and is primarily intended for investors and collectors, not for general circulation.