When Were Silver Quarters Discontinued?
At a Glance:
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- Silver quarters were discontinued in 1965 after the passage of the Coinage Act by Congress.
- Today, quarter-dollars are minted using an alloy of copper and nickel.
- Certain rare silver quarters minted prior to 1965 are worth hundreds of thousands of dollars.
When Were Silver Quarters Discontinued?
Modern quarters may be shiny, but they do not contain actual silver. Believe it or not, the United States minted their silver quarters with 90% silver bullion for nearly three centuries. When were silver quarters discontinued – and why did the United States stop using silver in circulating coins?
Silver quarters were discontinued in 1965 under the Coinage Act of 1965. Under this law, U.S. mints were required to stop including real silver in United States quarters and dimes. The legislation also limited the purity of silver used in both dollar and half-dollar coins, reducing their silver content from 90% to 40%.
The removal of silver from United States coins was a controversial decision with a wide range of impacts – particularly for silver investors. While an ongoing shortage of silver in the 60s made the legislation necessary, many silver stackers believe that the Coinage Act of 1965 was a mistake.
On this page, we’re answering one of the most common questions that new silver investors have: when were silver quarters discontinued – and why?
Silver Quarters In the United States – A Timeline
Although it may seem hard to believe, the silverish coins circulating in the United States used to be made out of actual silver. The very first coins made in the United States were struck using real precious metals, giving them intrinsic value while the American economy began the slow process of development.
To understand both when and why silver quarters were discontinued in the United States, we will need to take a closer look at the history of one of America’s most recognizable coins.
1796: The First U.S. Silver Quarter
The first quarter-dollar was minted in 1796, and it featured pure silver bullion. At that time in history, most currencies were pegged to the value of precious metals. Proponents of a bullion-backed economic system argue that supporting a currency with bullion helps stabilize and support its value.
– By The National Museum of American History (Attribution)
America’s first silver quarter was quite different from the quarter-dollars that circulate today. Aside from including actual silver bullion, the original quarter-dollar featured the same ‘draped bust’ design we find on silver dollars from early U.S. history.
1804: Silver Quarters Become Denominational
The silver quarter was the first U.S. silver coin to become denominational. Denominational refers to coins that have a face value. Today, all circulating U.S. coins feature a face value, usually on the reverse. Face value is an important feature of coinage, because it helps citizens confirm the value of their coins.
Until 1804, denominations only appeared on coins made from copper. Imagine how confusing this must have been! According to the U.S. Mint, consumers using silver coins prior to 1804 used the size of their currency coins to determine their value.
In 1804, the silver quarter made history by becoming the first silver coin to feature a face value. After the 1804 quarter-dollar’s release, the United States Mint system began adding face values to all circulating silver coins.
1932: George Washington Appears On the U.S. Quarter
1932 was another important year for the American silver quarter. Quarter-dollars today feature the familiar face of George Washington – but this wasn’t always the case. When did George Washington make his debut on the silver quarter? George Washington first appeared on the U.S. quarter-dollar in 1932.
Interestingly enough, our first President would have been very shocked to see his face on the front of an American coin. The idea of featuring American leaders on our coins was debated extensively in the first years of the United States. However, the proposal was rejected, since including leaders on our coins reminded America’s founders of the British Empire.
Congress eventually came around to the idea in 1932, releasing a quarter with George Washington’s face on it to celebrate the bicentennial anniversary of his birth.
1965: Congress Discontinues Silver Quarters
The most significant change to the silver quarter happened in 1965 among a slew of reforms to the United States Mint. President Lyndon B. Johnson signed the Coinage Act of 1965 into law on July 23rd, 1965. The law introduced several important changes to how U.S. coins are minted and circulated.
When were silver quarters discontinued? Under the Coinage Act of 1965, U.S. quarters would no longer be minted with real silver. That year, U.S. Mints began minting their quarter-dollars with an alloy of copper and nickel. Silver quarters no longer contain silver today and are instead made using 91.67% copper and 8.33% nickel.
Impacts of the Coinage Act of 1965
The Coinage Act of 1965 was controversial, especially among silver investors. To understand the various impacts of the Coinage Act of 1965, it is helpful to consider the reasons why Congress passed the contentious law in the first place.
Starting sometime around 1959, the U.S. Treasury began to note a significant shortage in silver bullion. Why was there a silver shortage in the 1960s? In the early 1960s, Americans began hoarding silver coins in order to sell them for a profit in the future. This is unsurprising, considering that silver prices had increased radically less than a decade earlier.
Because of how many Americans were hoarding silver, it became harder and harder for the United States to source silver to mint dimes, quarters, and dollar coins.
Congress’ decision to stop using silver in their coins may have been justified, but it did very little to stop citizens from hoarding the silver coins they already owned. In fact, silver prices shot up in 1967 – just two years after Lyndon B. Johnson signed the Coinage Act into law. Americans were also divided over both the efficacy and ethicality of eliminating silver from circulating U.S. coins.
Do Quarters Contain Silver Today?
Today, U.S. quarters do not contain real silver. Modern quarter-dollars are minted using an alloy of copper and nickel. When did quarters stop containing silver? The Coinage Act of 1965 eliminated silver from American quarters and dimes and reduced silver content from 90% to 40% in silver dollars and half-dollars.
Obviously, this means that quarters minted prior to 1965 are worth considerably more than the modern quarter-dollars that circulate today.
Silver Quarter Values – Are Your Silver Quarters Worth Anything?
Some pre-1965 silver quarters can be worth hundreds of thousands of dollars, depending on their rarity and condition. Even common date quarters minted before 1965 are worth considerably more than their face value, since these coins contain real silver.
How Much Is a Silver Quarter Worth?
Most silver quarters are worth exactly what you would expect – 25 cents. Because modern quarters do not contain actual silver, the vast majority of quarters minted after 1965 are worth little more than their face value. Of course, some modern quarters with rare errors can be worth quite a bit of money to the right collector.
For the most part, though, don’t expect to get much value out of the average American quarter. Below, we’ll cover one of the most coveted and valuable quarters in American history – the 1873-CC Liberty Seated Quarter.
Most Valuable U.S. Silver Quarter
So what is the most valuable U.S. silver quarter?
The 1873-CC Liberty Seated Quarter is one of the most rare and valuable silver quarters in American history. As the name suggests, part of what makes this coin so rare is its mint mark. In 1873, very few silver quarters were minted at the Carson City Mint. Experts claim that only 4,000 quarter-dollars were struck with the ‘CC’ mint mark, and far fewer of these coins are still in circulation today.
In near-uncirculated condition, the 1873-CC Liberty Seated Quarter is worth nearly $500,000. Don’t expect to find this rare silver coin in your coin jar, though. With exceptionally small mintage figures and an even lower number of surviving specimens, this coin is considered the “holy grail” for many silver quarter enthusiasts.
Final Thoughts: When Did Silver Quarters Stop Being Silver?
In 2024, quarters do not contain real silver. For most of American history, this was not the case. From 1796 to 1965, quarter-dollars contained real silver. This changed with the passage of the Coinage Act of 1965, which eliminated silver bullion from silver quarters and dimes.
Although quarters are no longer made with genuine silver bullion, they remain a popular form of investment. The right silver quarters can even be worth $100,000 or more, making them some of the most sought-after silver coins on the planet.
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About The Author
Michael Roets
Michael Roets is a writer and journalist for Hero Bullion. His work explores precious metals news, guides, and commentary.