Which Coins Are Made Out of Silver?

Silver has long been a foundational element in monetary systems, holding intrinsic value. Its lustrous appearance and inherent worth made it a preferred metal for coinage across diverse civilizations. Silver currency provided a stable, widely accepted medium of exchange for centuries. This metal’s enduring appeal continues to influence its role in both historical and contemporary coinage.

Historical Silver Coins of the United States

The United States incorporated silver into its circulating coinage, particularly before the mid-20th century. Dimes, quarters, and half dollars minted for general circulation before 1965 were composed of 90% silver and 10% copper. This high silver content meant their intrinsic metal value often exceeded their face value. These coins include the Mercury Dime, Roosevelt Dime, Washington Quarter, Standing Liberty Quarter, Franklin Half Dollar, and Walking Liberty Half Dollar.

Following 1964, a significant change in coin composition occurred due to rising silver prices. The Coinage Act of 1965 eliminated silver from dimes and quarters, transitioning them to a copper-nickel clad composition. However, the Kennedy half dollar maintained a reduced silver content of 40% from 1965 to 1970. These 40% silver half dollars contain an outer layer of 80% silver and 20% copper bonded to a core of 21% silver and 79% copper. After 1970, the Kennedy half dollar also transitioned to the copper-nickel clad composition for general circulation.

Early United States dollar coins, such as the Morgan Dollar and Peace Dollar, also contained 90% silver. These coins were minted from the late 19th century into the early 20th century. Their silver content made them popular for commerce and wealth storage. The last 90% silver circulating dollar coin was the Peace Dollar, with its final issues in 1935.

Specific 90% silver denominations include the Mercury Dime (1916-1945), Roosevelt Dime (1946-1964), Standing Liberty Quarter (1916-1930), Washington Quarter (1932-1964), Walking Liberty Half Dollar (1916-1947), Franklin Half Dollar (1948-1963), and the 1964 Kennedy Half Dollar. These dates mark the final years these denominations were struck predominantly in silver for widespread circulation.

Following 1964, rising silver prices prompted a shift. The Coinage Act of 1965 altered most circulating coinage, eliminating silver from dimes and quarters, transitioning them to a copper-nickel clad composition. This change prevented melting of coins for their silver content and ensured currency stability.

Early United States dollar coins, such as the Morgan Dollar (1878-1904, 1921) and Peace Dollar (1921-1928, 1934-1935), contained 90% silver. These coins served as substantial units of currency and were held as tangible wealth. Their production for general circulation ceased before mid-century changes affecting smaller denominations.

Modern Silver Coins of the United States

While circulating coinage largely ceased to contain silver, the United States Mint continues to produce silver coins for collectors and investors. These modern issues are not intended for everyday transactions but serve as bullion or commemorative pieces. The American Silver Eagle, introduced in 1986, is the official silver bullion coin of the United States. Each coin contains one troy ounce of .999 fine silver, making it a popular choice for physical silver investment.

The U.S. Mint also issues commemorative silver coins to honor American people, places, events, or institutions. These coins are produced in limited mintages and sold at a premium above their silver melt value. Commemorative silver coins typically contain .900 fine silver, though some modern issues have been struck in .999 fine silver. Their value is influenced by their silver content and numismatic appeal.

These contemporary silver coins are distinct from their historical counterparts, primarily due to their purity and intended use. They are designed for investment portfolios or as collectible works of art, rather than for daily commerce. The high purity levels, often .999 fine silver, reflect modern minting standards and investor preferences. Such coins are generally purchased through authorized dealers or directly from the U.S. Mint, rather than found in circulation.

Key Characteristics of Silver Coins

Identifying whether a coin contains silver involves examining several physical characteristics. For pre-1965 U.S. dimes, quarters, and half dollars, a visible copper stripe on the reeded edge indicates a non-silver, copper-nickel clad composition. Genuine silver coins from this era will have a solid silver-colored edge without any red or brown coloration.

Another method involves testing the coin’s magnetic properties; silver is a non-magnetic metal. If a coin sticks to a strong magnet, it does not contain significant silver content. This test rules out magnetic metals but does not confirm silver content, as many non-silver metals are also non-magnetic.

The weight of a coin can also provide clues, as silver is denser than the copper-nickel alloys used in clad coinage. While precise measurements require a scale, a silver coin often feels heavier than a clad coin of the same denomination. Additionally, silver coins produce a distinct, high-pitched “ping” sound when gently dropped onto a hard surface, unlike the duller thud of clad coins. These combined characteristics offer practical ways to assess a coin’s silver content without specialized equipment.

Notable Silver Coins Beyond the United States

Silver coinage is a global phenomenon, with many countries issuing their own distinctive silver pieces. One example is the Canadian Silver Maple Leaf, issued in 1988 by the Royal Canadian Mint. These coins consistently contain one troy ounce of .9999 fine silver, making them among the purest silver bullion coins. Their maple leaf design is recognized globally.

Mexico also produces the Mexican Libertad, featuring the Winged Victory Angel. These coins are struck in .999 fine silver and are available in various sizes. The Libertad relies on its silver content for its worth. Historically, many European and Asian countries also minted silver coins for circulation, such as British pre-decimal silver coinage, which contained varying percentages of silver before transitioning to base metals.

These international examples highlight the widespread use of silver in coinage beyond the United States, serving similar purposes of investment, collection, and historical currency. Many countries continue to issue modern silver bullion coins, reflecting the ongoing global demand for the precious metal. Whether for their artistic design or their intrinsic metal value, these coins remain significant in the broader context of global finance and numismatics.