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Walk into any coin shop and you’re likely to hear the term “constitutional silver” tossed around alongside bullion bars and modern commemoratives. While it may sound technical, the concept is straightforward, and valuable to understand if you buy, sell, or collect U.S. coins.
In short, constitutional silver refers to everyday United States coins minted for circulation before 1965 that contain 90 percent silver. Dimes, quarters, half dollars, and dollars from this era hold intrinsic metal value that far exceeds face value, making them popular with both investors and history buffs.
The phrase applies to circulating U.S. coinage produced from 1794 through 1964, the final year 90 percent silver was used in regular coinage. These pieces were legal-tender money backed by the U.S. Constitution, hence the nickname.
Unlike modern bullion rounds, constitutional silver coins were intended for everyday commerce. Their intrinsic value stems from their 0.900 fine silver composition, which remains constant regardless of numismatic premium.
Silver has anchored American currency since the Coinage Act of 1792, which set statutory weight and purity for new U.S. coins. For more than 170 years, pocket change literally contained precious metal.
By the early 1960s, soaring silver prices threatened to push the melt value of coins above face value. Congress responded with the Coinage Act of 1965, eliminating silver from dimes and quarters and reducing it in half dollars, effectively ending wide scale production of 90 percent silver coins.
While any 1964 and earlier circulating coin qualifies, a handful of denominations dominate the market. Each carries a specific weight of pure silver, which investors use to calculate melt value.
Affordability is a key attraction. Because most pieces trade near melt value, buyers can accumulate fractional silver without paying hefty premiums attached to modern bullion coins.
Collectors appreciate the historic artistry, such as Winged Liberty dimes or Franklin halves, while preppers favor constitutional silver for its divisibility in potential barter scenarios. Liquidity is also strong, any reputable dealer can quickly weigh, verify, and buy these coins.
When purchasing, stick with reputable coin shops or well reviewed online dealers and verify dates: anything 1965 or later, except 40 percent half dollars, lacks 90 percent silver. Bulk lots are often sold by face value, for example, a 100 dollar face bag contains roughly 71.5 troy ounces of pure silver.
Store your coins in dry, temperature stable environments. Light tarnish will not hurt value, but excessive moisture can cause spotting or verdigris on copper cores. For resale, keep coins loose or in tubes, fancy holders add little benefit when pieces trade for bullion value.
Start by adding up the face value of your coins in dollars. Multiply total face by 0.715 to estimate troy ounces of pure silver, then multiply by current spot price. For example, a 10 dollar face roll contains roughly 7.15 troy ounces. This quick formula assumes coins are in average circulated condition.
Constitutional silver bridges the gap between collectible coinage and precious metal investing. Each worn dime or quarter is a tangible link to an era when everyday money carried real silver weight.
Whether you are stacking for metal content or curating a historic collection, understanding what qualifies as constitutional silver, and why, helps you buy smarter and appreciate the small yet significant treasures jingling from America’s past.
