Hobbies And Interests
Types
The United States Mint made American silver dollars until 1935. It made dimes and quarters containing silver until 1964 and silver half dollars until 1970. Between 1942 and 1945, five cent coins contained silver because World War II created a nickel shortage. The United States Mint started producing American silver eagle bullion coins in 1986 and sells them to collectors and investors every year.
Purity
American silver coins contain varying amounts of silver depending on the denomination. All dimes, quarters and dollar coins that were made with silver by the United States Mint contain 90 percent silver and 10 percent copper. Half dollars contained the same purity until 1964. Between 1965 and 1970 they were 40 percent silver and 60 percent copper. Wartime five-cent coins contained 35 percent silver, 56 percent copper and nine percent manganese. American silver eagle bullion coins are 99.9 percent silver.
The Demise
The United States Mint stopped making coins out of silver for circulation because of the rising price of the precious metal. The silver contained in these coins became worth significantly more than the coin's face value. According to the website Coinflation.com, the bullion value of a wartime nickel or silver dime is now more than a dollar. A silver quarter is about $3.50. A half dollar is nearly $7. A silver dollar contains about $15 worth of silver.
Value
The value of American silver coins fluctuate with the spot price of silver. This is the price of silver on any given day. In addition, coin collectors are often willing to pay significantly more than the silver value because of their rarity and historical significance. Since more than 40 years passed since that last U.S. silver coin was made for circulation, it is virtually impossible to find them in circulation anymore.
Non-Circulation Issued Sets
The United States Mint makes silver commemorative coins, silver proof sets and silver bullion coins for collectors and investors. These are not intended for use as legal tender. The Mint started making silver commemorative coins in 1892. They are still made periodically with a purity of 90 percent silver. Silver proof sets are made every year with dimes, quarters and half dollars made of 90 percent silver. American silver eagle bullion coins are 1 ounce of pure silver.