The U.S. Mint was authorized to stamp a silver coin in different denominations for over 170 years. Through the course of history, silver played an important role in the country’s currency. Silver coin was used for dollars, half dollars, quarters and dimes.
A worldwide silver shortage in 1965 resulted in the making of a silver coin against presidential order. The silver coins went from 90 percent silver to 40 percent for the half dollar and to 0 percent for dimes and quarters.
The last silver coin half dollar was the 1964 Kennedy half dollar.
It was later reduced to 40 percent in 1965 and continued to 1969. There is no new half dollar silver coin being minted now, and most collectors of pre-1964 Kennedy half dollar silver coin are hanging on to them. However, because there were so many in circulation, the silver coin is considered “junk” coins by most collectors because they hold little premium over face value.
The dollar silver coin was released in 1794. It was then discontinued in 1935. The creation of the dollar coin resumed with the non-silver Eisenhower dollar in 1971. It was then replaced in 1979 by the Susan B. Anthony one-dollar coin.
The Susan B. Anthony one-dollar coin is considered one of the biggest debacles in the mint’s history. It was then replaced by the gold-plated Sacagawea dollar. The Sacagawea dollar has currently been replaced by new series of dollar coins which commemorate the U.S. presidents.
Silver Coin Priced by the Bag.
The silver coin has always been sold by the U.S. Mint in bags worth $1,000 at face value. A bag of dimes would hold 10,000 coins while a bag of quarters would have 4,000 coins and a bag of half dollars would hold 2,000 coins. Some companies supplying collectors with bulk amounts of a silver coin still practice selling the silver coin by the bags. However, these usually ship in two separate bags, with a face value of about $500 each as they are considerably heavy.
.999 pure coins are still being struck today by both the U.S. Mint and private mints. Whereas the silver coin struck by the U.S. Mint is labeled as accessible to be used as legal tender, the privately minted silver coin bears the purity and weight of the silver on each coin. This makes determining the value of the silver coin easier for buyers and sellers.
During times of a recessed economy, many investors collect silver coin as a hedge against inflation. However, the demand fluctuates with the economy and investing in silver coin by face value with premium has been replaced with bars of .999 percent silver.