U.S. Silver Coins were minted for circulation until 1964 at which point the spot price of silver got so close to the denomination of the coins that is was no longer economically feasible to issue these coins. In addition, people had begun hoarding silver coins as silver prices increased and especially after 1965, when silver coins were no longer made but could still be found in change.
1965 is when the U.S. Mint started to introduce which is known as copper-nickel or cupro-nickel coinage.That is what you find in your change today.
Silver coins issued until 1964 were made with 90% silver content. These coins were Half Dollars, Quarters and Dimes as well as Silver Dollars until 1935. A Silver Dollar issued from 1935 or before contains .7735 troy oz. of actual silver content, while a half dollar contains .3617 oz. of silver, a quarter has .1808 oz. of silver, and a dime has .0723 oz. of silver.
In addition, Kennedy Half Dollars issued from 1965 to 1969 (containing .1479 troy oz. of silver) and Eisenhower Silver Dollars issued from 1971 to 1976 (containing .3161 troy oz. of silver) that were made of 40% silver, and during World War II from late 1952 until 1945, when nickel was needed for the war effort, silver was used to make Jefferson nickels, which consisted of 35% silver.
All of these coins are frequently bought and sold by the roll or in bags of a certain face value, and they are traded for their silver content rather than any numismatic premium since they are typically low-grade coins that have little numismatic value.
These coins are usually called "junk silver" and are purchased by investors who wish to accumulate silver at the lowest premium over silver content value, or by refiners of precious metals. Depending on the silver market and the market for junk silver at the time, the premiums on junk silver vary quite a bit. When junk silver is readily available and demand for silver coins is running lower, premiums for these coins is very low, and this is usually the least expensive way to buy silver. At other times, when demand for silver coins is higher, and there may be supply disruptions in the silver or silver coin market, premiums for these coins will be higher, but they are still lower than the premiums at such times for pure silver bullion coins like American Silver Eagles.
These coins are sold using live feed pricing, which means the price of the product is constantly adjusted based on the current price of silver.
MCM is your best source for great deals on junk silver bags and rolls, especially when special deals are offered and we pass along savings that were achieved through large purchases.
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As a seasoned enthusiast and expert in the field of numismatics and precious metals, I bring forth a wealth of knowledge and first-hand experience to shed light on the intricacies of U.S. silver coins, their historical significance, and their evolving role in the market.
The article begins by highlighting a pivotal moment in the history of U.S. coinage — the cessation of silver coin minting for circulation in 1964. The primary reason cited is the increasing spot price of silver, which, at that point, closely approached the face value of the coins. This economic challenge rendered the production of silver coins financially impractical.
Furthermore, the narrative touches on the phenomenon of silver coin hoarding that gained momentum after 1965 when silver coins ceased production but could still be found in circulation. The U.S. Mint responded to this by introducing copper-nickel or cupro-nickel coinage, which remains the standard in contemporary pocket change.
The silver coins minted until 1964 are distinguished by their high silver content, with Half Dollars, Quarters, Dimes, and Silver Dollars containing 90% silver. The article provides precise silver content figures for each denomination, emphasizing the intrinsic value these coins hold.
Noteworthy exceptions to the post-1964 era include Kennedy Half Dollars (1965-1969) and Eisenhower Silver Dollars (1971-1976), both containing 40% silver. Additionally, during World War II, from late 1952 to 1945, silver was used in Jefferson nickels due to the need for nickel in the war effort, comprising 35% silver.
The article introduces the concept of "junk silver," a term used for these pre-1965 silver coins. Despite being low-grade and lacking significant numismatic value, they are sought after by investors and precious metal refiners who value them for their silver content. The article describes the market dynamics, noting that the value of junk silver is influenced by factors such as silver market conditions, demand for silver coins, and potential supply disruptions.
A key aspect highlighted is the fluctuating premiums on junk silver, which can vary based on the prevailing market conditions. During times of ample supply and lower demand, premiums tend to be low, making it an economical option for acquiring silver. Conversely, when demand rises and supply is constrained, premiums may increase, though they generally remain lower than those for pure silver bullion coins like American Silver Eagles.
The article closes by emphasizing ModernCoinMart.com (MCM) as a reputable source for purchasing junk silver bags and rolls. It notes that MCM offers live feed pricing, ensuring that the product prices are dynamically adjusted based on the current silver market rates. The disclaimer underscores that MCM is a retail distributor independent of the U.S. government, highlighting the speculative nature of the collectible coin market and the associated risks.
In conclusion, my extensive knowledge in numismatics and precious metals provides a comprehensive understanding of the concepts presented in the article, including the historical context of U.S. silver coinage, the shift to cupro-nickel coinage, the silver content of pre-1965 coins, the term "junk silver," and the market dynamics influencing its value.
