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Metal In Newer Silver Coin Drops To Nothing

For over 170 years, the U.S. Mint was authorized to stamp a silver coin in different denominations, and through the course of history in which silver played an important role, there was a silver coin for dollars, half dollars, quarters and dimes. In 1965 a worldwide silver shortage resulted in the making of a silver coin against presidential order and the coins went from 90 percent silver to zero in dimes and quarters and to 40 percent in the half dollar.

The last half dollar silver coin struck was the Kennedy half and it was reduced to 40 percent in 1965 and continued through 1969. Currently there are no new half dollar coins being minted and most collectors of pre-1964 Kennedy halves are hanging on to them. However, with so many in circulation, considered “junk” coins by most collectors, they hold little premium over face value.

The dollar silver coin was minted from 1794 through 1935 when the dollar coins were discontinued. Production on the dollar coin resumed in 1971 with the non-silver Eisenhower dollar, which was replaced in 1979 by the Susan B. Anthony one-dollar coin, considered one of the biggest debacles in the mint’s history. This was replaced by the gold plated Sacagawea dollar which is currently be replaced by the mint’s new series of dollar coins, commemorating the U.S. presidents.

Bulk Silver Coins Are Priced By The Bag

The U.S. Mint had always sold the silver coin in bags worth $1,000 at face value with a bag of dimes holding 10,000 coins. A bag of quarters would have 4,000 coins and 2,000 half dollars would be in a bag of halves. The practice of selling by the bag still exists for companies supplying collectors with bulk amounts of a silver coin. However, since bags are considerably heavy, they usually ship in two separate bags, with a face value of about $500 each.

Today, there are still some .999 pure coins being struck, by both the U.S. Mint and private mints. While the silver coin struck by the U.S. Mint is labeled as available to use as legal tender, privately minted coins bear the purity and weight of the silver on each coin to make determining the value easier for buyers and sellers.

During times of a depressed economy, many investors will collect silver as a hedge against inflation, but the demand fluctuates with the economy and investing in coins by face value plus premium has been replaced by buying bars of .999 percent pure silver of 100 ounces.

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