Pre-1964 Silver

Today most of our coins are made out of a copper-nickel clad. U.S currency used to have a significant amount of silver content, but after the Great Depression it has been completely divorced from precious metals. Since 1933, gold and silver prices have been independent of U.S paper money and coins. As a result, any silver in coins would actually be worth more than the coin itself. Nowadays, people hoard all coins that still have silver in them so they are completely out of circulation.

Virtually all silver coins disappeared from circulation in 1964. 1964 is the last date on the last coins made from 90% silver. That means that if you ever find a dime, quarter, or half-dollar dated 1964 or before, the coin is made up of 90% silver. From then on, the Kennedy Half Dollars were introduced, made until 1969. These coins contained 40% silver. There are myths that describe rare silver nickels and pennies, but these have never contained silver except for one exception. The "war nickels" of World War II did have silver because all available nickel was needed for the war effort. As a result, pre-1964 silver coins are rare and extremely valuable. Many investors choose to boost their portfolio by buying pre-1964 silver.

In 1986 the U.S started making silver dollars-the Silver American Eagles. Ironically, they have a printed face value of one dollar and a bank can only give you one dollar for it, but they trade for about 20 dollars a coin. It all depends on the current market price of silver bullion. However, there are high premiums involved in buying Silver American Eagles and other silver bullion, making pre-1964 90% silver coins a good option for investors looking to buy into silver in a cost-efficient way. Many dealers sell pre-1964 coin bags in a variety of denominations. For example, a bag may contain a mixture of pre-1964 dimes, quarters, and half dollars, or possibly just one denomination. You can purchase bags valued at one dollar through 1000 dollars, and many increments in between.

These bags, sometimes referred to as "junk bags" because they are not at the 99.9% silver bullion standard, would be very easy to liquidate in an emergency, adding to their appeal. The bags can be separated into smaller quantities or can even be marketed on an individual coin-by coin basis. A quick survey of end-of-the world fiction will show dozens of characters surviving an economic meltdown through pre-Beatles era currency, the last "true" currency. Though that is a very unlikely scenario fit only for fiction, it is still true that silver coins carry a high promotable value due to their relative rarity and high popularity.

Examples of coins you may find in a pre-1964 silver coin bag include the Roosevelt dimes minted from 1946-1964 and Mercury/Winged Head silver dimes from 1916-1945.