What Coins Are 40 Percent Silver?

Recognizing 40% Silver Coins

The United States Mint produced specific coin denominations with a 40% silver composition during a defined period. The most commonly encountered 40% silver coins are certain Kennedy Half Dollars, minted from 1965 through 1970, and again for the 1976 Bicentennial issues.

Another coin series with 40% silver issues is the Eisenhower Dollar. From 1971 to 1974, some Eisenhower Dollars were struck with 40% silver, but these were generally not released for general circulation. These Eisenhower Dollars were typically produced for collectors as uncirculated or proof issues.

Identifying 40% silver coins, particularly Kennedy Half Dollars, often involves examining the coin’s edge. Unlike modern clad coins, which display a distinct copper stripe in the middle, 40% silver coins exhibit a more uniform, lighter gray appearance on their edge. While weight can vary slightly, the edge characteristic is a more reliable visual indicator.

The Historical Shift to 40% Silver

The decision by the United States to reduce the silver content in its coinage stemmed from significant economic pressures in the mid-1960s. The rising market price of silver began to exceed the face value of the coins, leading to widespread hoarding and melting of silver coinage. This situation threatened the supply of circulating currency and necessitated a change in the metallic composition of U.S. coins.

To address this issue, Congress passed the Coinage Act of 1965. This act altered the composition of U.S. dimes and quarters, removing all silver content from them. These denominations were subsequently struck from a copper-nickel clad composition.

The Coinage Act of 1965 also impacted the half dollar. The silver content of the Kennedy Half Dollar was reduced from 90% to 40%. This change allowed the half dollar to retain some intrinsic silver value while mitigating widespread hoarding and melting.

Valuing Your 40% Silver Coins

The value of 40% silver coins is primarily determined by their “melt value,” the intrinsic worth of the silver metal they contain. This value fluctuates directly with the current spot price of silver. Unlike their fixed face value, the melt value can change daily, reflecting global supply and demand for silver.

To calculate the melt value, one must know the exact silver content of the coin. A 40% silver Kennedy Half Dollar, for example, contains approximately 0.1479 troy ounces of silver. The calculation involves multiplying this silver weight by the current spot price of silver per troy ounce. Similarly, a 40% silver Eisenhower Dollar contains approximately 0.316 troy ounces of silver, and its melt value is calculated similarly.

While melt value is the primary driver for most common 40% silver coins, some exceptional pieces may command a higher “numismatic value.” This collector’s value is influenced by factors such as the coin’s rarity, its condition (e.g., uncirculated or proof), and specific mint marks or varieties sought by collectors. However, for the vast majority of 40% silver coins encountered, their worth remains closely tied to the fluctuating price of their silver content.

Locating 40% Silver Coins

Finding 40% silver coins often involves searching through circulating currency or exploring specialized markets. One common method is “coin roll hunting,” where individuals obtain boxes or rolls of coins from banks and sort through them in search of older silver coins. While less common today, 40% silver half dollars can occasionally still be found in these rolls.

Another avenue for discovery is simply checking everyday change or inherited coin collections. Older family members might have accumulated these coins, or they may have simply remained in circulation. Examining the edges of half dollars received in change can quickly reveal if they are 40% silver.

Local coin dealers are a reliable source. They often buy and sell silver coins and can help identify or acquire specific 40% silver issues. Coin shows and online marketplaces, including auction sites, also provide platforms where these coins are regularly traded, offering a wider selection.