What Are U.S. Silver Dollars Made Of?

U.S. silver dollars hold a distinctive place in American coinage history, not only for their artistic designs but also for their metallic composition. The materials used to mint these coins have evolved significantly over time, influenced by economic factors like the fluctuating price of silver. Understanding what these coins are made of provides insight into their historical context and current value. This knowledge is particularly useful for individuals seeking to identify genuine silver dollars they might encounter.

Composition Across Eras

The composition of U.S. dollar coins has changed dramatically since their inception, primarily due to shifts in silver prices. Early silver dollars, including the Gobrecht, Seated Liberty, Morgan, and Peace dollars, contained a substantial amount of silver. The Gobrecht dollar, minted from 1836 to 1839, quickly changed to 90% silver and 10% copper. Similarly, Seated Liberty dollars, produced from 1840 to 1873, were composed of 90% silver and 10% copper.

Morgan dollars, minted from 1878 to 1904 and again in 1921, also maintained a 90% silver and 10% copper composition. Each Morgan dollar contained 0.77344 troy ounces of pure silver. Peace dollars, issued from 1921 to 1935, followed this standard with 90% silver and 10% copper, containing the same net silver weight as the Morgan dollar.

A significant shift occurred with the Coinage Act of 1965, which largely removed silver from circulating U.S. coinage due to rising silver prices. While dimes and quarters transitioned to a copper-nickel clad composition, half dollars had their silver content reduced to 40%. Eisenhower dollars, minted from 1971 to 1978, exemplify this change; most circulating versions contained no silver and were made of copper-nickel clad material. However, special collector’s editions of Eisenhower dollars, produced between 1971 and 1976, were struck with a 40% silver clad composition. Post-1970 dollar coins, such as the Susan B. Anthony, Sacagawea, and Presidential dollars, are composed of copper-nickel clad materials and contain no silver.

How to Identify Silver Dollars

Identifying U.S. silver dollars primarily involves checking the coin’s mint date. Dollar coins minted before 1965 are composed of 90% silver. Coins produced from 1965 to 1970, specifically some half dollars, may contain 40% silver, while later dollar coins from 1971 onwards do not contain silver.

Another method involves examining the coin’s edge. Silver dollars from the pre-1965 era will have a solid silver-colored edge. In contrast, clad coins will reveal a visible copper stripe along their edge. Coins with a 40% silver content, like certain Kennedy half dollars, might show a more subtle silver stripe with faint traces of copper.

A “ring test” can also offer an indication of a coin’s silver content. When a genuine silver coin is gently tapped on its edge, it produces a distinctive, sustained, high-pitched ringing sound. Non-silver or clad coins produce a duller “thud” sound, lacking the resonant tone of silver.

The Value Beyond Face Value

U.S. silver dollars often possess a value far exceeding their face value due to their precious metal content and potential numismatic appeal. The intrinsic “melt value” of a silver dollar is directly tied to the current market price of silver. For instance, a Morgan or Peace dollar, containing 0.77344 troy ounces of 90% pure silver, will have a melt value determined by multiplying this silver content by the fluctuating spot price of silver. As of August 6, 2025, the spot price for one ounce of silver is approximately $37.83 to $37.85. This means a 90% silver dollar’s melt value would be around $29.27.

This melt value represents the minimum worth of the coin based solely on its metal content, assuming it were melted down. Beyond this intrinsic value, many silver dollars also hold significant numismatic value, which is their worth to collectors. This collector’s value can greatly exceed the melt value and is influenced by factors such as the coin’s rarity, its condition (e.g., uncirculated versus circulated), and collector demand. While the melt value provides a baseline, the historical significance and aesthetic appeal of certain silver dollars often command much higher prices in the numismatic market.