When Did They Stop Making Silver Coins?

For many years, silver played a significant role in U.S. coinage. Coins like dimes, quarters, and half-dollars were primarily made of this precious metal, with their intrinsic value closely tied to their face value. The eventual removal of silver from most U.S. coins marked a major change in American monetary history.

The Transition Away From Silver in Circulating Coins

The shift away from silver in most circulating U.S. coinage occurred with the Coinage Act of 1965, enacted on July 23, 1965. This legislation altered the composition of dimes and quarters, eliminating their silver content entirely. Before this act, these coins contained 90% silver.
The Coinage Act of 1965 introduced “clad” coinage for dimes and quarters. These new coins were made with a core of pure copper bonded between outer layers of a copper-nickel alloy.
While dimes and quarters became silver-free, the half-dollar experienced a reduction in silver content. The Coinage Act of 1965 reduced the silver in half-dollars from 90% to 40%. This transitional period for the half-dollar continued for several years.

Specific Coin Denominations and Their Silver Content

Before 1965, U.S. dimes, quarters, and half-dollars were composed of 90% silver and 10% copper. This high silver content meant that their intrinsic metal value was a significant factor in their overall worth. The appearance of these coins was uniformly silver, without the visible copper edge seen in later clad coinage.
The dime and quarter saw their silver content completely removed starting in 1965. These denominations were replaced with a copper-nickel clad composition, featuring a pure copper core. If you examine the edge of a dime or quarter minted in 1965 or later, you will observe a distinct copper stripe.
The half-dollar followed a different timeline. From 1965 through 1970, half-dollars, such as the Kennedy Half Dollar, were minted with a reduced silver content of 40%. This 40% silver alloy consisted of an outer layer of 80% silver and 20% copper bonded to a core of 21% silver and 79% copper. After 1970, circulating half-dollars also became completely silver-free, transitioning to the copper-nickel clad composition as dimes and quarters.
Silver dollars, which had not been regularly minted for circulation since 1935, also saw changes. While the Coinage Act of 1965 did not immediately affect them as they were not being struck, later Eisenhower dollars minted from 1971 through 1976 for collectors bore a 40% silver content.

Economic Factors Driving the Change

The decision to remove silver from circulating U.S. coinage was driven by economic pressures. A primary factor was the rising market price of silver. By the early 1960s, the price of silver began to approach and then exceed the point where the metal value in coins surpassed their face value.
As the intrinsic value of the silver in coins exceeded their monetary value, a phenomenon known as hoarding began. People started removing silver coins from circulation to melt them down or hold them as investments, expecting their value to continue rising. This widespread hoarding led to severe coin shortages across the country, disrupting everyday commerce.
Increased industrial demand for silver also contributed to the problem. Silver was becoming increasingly important in various industries, leading to greater consumption and further pressure on its price and supply. The government’s existing silver stocks were rapidly depleting, making it unsustainable to continue minting coins with high silver content. This combination of factors made the transition to non-silver coinage a necessary measure to maintain a stable and functional monetary system.