Silver, while an important element in U.S. coinage history, is all but extinct today. Let’s take a walk back in the past. In 1792, the following coins were first minted in silver:
- The dollar
- The half-dollar
- The quarter
- The dime
- The half-dime
Coins continued to be minted in silver until 1966, when a “silver crisis” meant that quarters and dimes would no longer be silver. From 1965 to 1970, the composition of the half dollar was reduced to just 40 percent silver. The Bicentennial Kennedy half dollar was made up of 80 percent silver and 20 percent copper. Because silver is precious, and coins too prolific, it is not feasible that circulating coins are made with silver. Today, these coins consist of a copper core and an outer layer made of 75 percent copper and 25 percent nickel alloy.
Popular with investors and collectors are pre-1965, 90 percent silver content in coins, which are considered “survival” coins, to be used in the event of a monetary system failure (hey, you never know). Other collectors prefer the 1 ounce silver round, 1 ounce American Silver Eagle, or old silver dollars for their collection.
Privately minted coins, which are not struck by the U.S. Mint, but rather private mints, are another option that are affordable if you’re collecting silver coins.
