As you dig through your spare change, you may be holding a valuable piece of American history in your hand without even realizing it. Quarters minted by the U.S. Mint in the early to mid-20th century look similar to the quarters we use today, but with one key difference – they contain 90% pure silver! These precious silver quarters are prized by collectors and bullion investors alike.
So which specific year quarters should you be on the lookout for? Let‘s dive into the fascinating background of these classic 90% silver coins to find out.
A Brief History of Silver U.S. Quarters
The U.S. Mint first began producing quarter dollar coins way back in 1796, just a few years after the founding of the United States. These early quarters were struck in 89.24% silver and 10.76% copper, with a diameter of 27.5 mm and a weight of 6.74 grams.
Over the next 168 years, the Mint would issue quarters in that same 90% silver composition, even as the designs evolved:
- Draped Bust 25¢, 1796-1807
- Capped Bust 25¢, 1815-1838
- Seated Liberty 25¢, 1838-1891
- Barber 25¢, 1892-1916
- Standing Liberty 25¢, 1916-1930
- Washington 25¢, 1932-1964
The iconic Washington quarter design was introduced in 1932 to mark the 200th anniversary of America‘s first president. It originally depicted a bald eagle on the reverse, which was modified in 1999 to show Washington crossing the Delaware River during the American Revolution.
But no matter which portrait graced the obverse of the coin, all quarters minted for circulation contained that same 90% silver purity up until 1964. That means a "junk silver" quarter saved from your parents‘ or grandparents‘ piggy bank could be worth far more than 25 cents today!
The End of 90% Silver Quarters in 1965
As of 1965, newly minted U.S. quarters (and dimes) no longer contained any precious metal. What prompted this major change in American coinage?
Global demand for silver was steadily increasing in the early 1960s, both for industrial applications and private bullion investment. At the same time, the price of the metal rose significantly from its formerly fixed levels. Suddenly, the melt value of 90% silver coins was higher than their face value.
Rather than spending them, people began hoarding silver quarters and dimes in huge numbers, leading to a coin shortage. To solve this issue, Congress passed the Coinage Act of 1965.
This law removed all silver content from quarters and dimes, replacing the previous 90% silver alloy with a "clad" composition of outer copper-nickel layers bonded to an inner core of pure copper. The half dollar was reduced to just 40% silver before also going silver-free in 1971.
From 1965 to today, all Washington quarters struck for commerce have been minted in that copper-nickel clad alloy, with the exception of special 90% silver proof sets for collectors.
Most Valuable 90% Silver Quarter Dates
While any pre-1965 Washington quarter is worth more than face value for its silver content alone (currently around $4.50 as of May 2023), some key dates are much rarer and command high premiums. Here are a few of the most sought-after issues:
1932-D: From the first year of the Washington quarter series, this D-mint issue had a relatively low mintage of 436,800 pieces. Gem uncirculated examples have sold for over $30,000!
1932-S: With just 408,000 coins struck, this is another rare key date. The auction record for a 1932-S quarter stands at an impressive $143,750.
1934 Doubled Die Obverse: Dramatic doubling is visible on the obverse motto, date, and lettering. In 2008, one graded MS68 by PCGS brought $26,450.
1937 Doubled Die Obverse: Another prized variety, gem examples of this DDO have realized over $20,000.
Earlier 90% silver types like the Barber and Standing Liberty quarters also have some legendary rarities, such as the 1901-S Barber (mintage 72,664) and 1916 Standing Liberty (only 52,000 struck).
The Beauty & Value of Silver Quarters
What makes these old 90% silver quarters so special? For collectors and history buffs, they represent tangible artifacts of America‘s bygone economic eras. Their classic designs and silver luster are reminders of a time before inflation and fiat currency.
Silver stackers and investors appreciate 90% constitutional silver for its affordability versus pure bullion bars and rounds. With a melt value directly tied to the spot price of raw silver, these old quarters can be a great way to accumulate wealth. Many also believe that 90% silver could become a useful medium of exchange again in the event of a total fiat currency collapse.
Of course, any coin‘s numismatic value depends on survival rate and condition. Because they actually circulated as money, most surviving pre-‘65 silver quarters exhibit some degree of wear. Pristine, high-grade examples are much scarcer, and therefore very desirable to discerning collectors.
FAQ on 90% Silver Quarters
To conclude, here are concise answers to some of the most common questions about 90% silver U.S. quarters:
Q: How can I tell if my old quarter is 90% silver?
A: Pre-1965 quarters should have a consistent "white" silver color on both sides, with no copper stripe on the edge. They‘ll also weigh 6.25 grams versus a clad quarter at 5.67 g.
Q: What are 90% silver quarters worth?
A: Worn common-date silver quarters are worth their melt value, currently around $4.50 each based on a $25/oz silver spot price. Uncirculated key dates can be worth anywhere from $100 to over $100,000!
Q: Can I spend silver quarters as regular money?
A: While 90% silver quarters are still legal tender, they‘re worth much more than face value for their metal content. Only spend them if you absolutely have to!
Q: Wasn‘t any U.S. silver coinage minted after 1964?
A: The only 90% silver coins produced since 1964 have been special proof sets or commemoratives sold to collectors by the U.S. Mint. Business-strike coins are copper-nickel clad.
Q: How should I store my silver quarter collection?
A: House your coins in protective plastic flips, tubes, or albums, and keep them in a safe place away from heat, humidity, and sulfurous compounds. Avoid cleaning or polishing them, as this can actually damage the surfaces and lower their value.
Whether you‘re a serious numismatist or just a fan of vintage silver, these pre-1965 U.S. quarters offer a fascinating collecting pursuit. Minted for 168 years, they were once the everyday pocket change of generations past. Today, they endure as cherished and valuable reminders of America‘s proud economic history. As you build your collection of these 90% silver treasures, take a moment to reflect on all the hands they‘ve passed through and the stories they could tell!
