If you have a container of coins laying around the house, now is the time to pull it out and take a good look at those coins before you send them to the bank. Why, you might be asking? Well, the short answer is those coins could be worth a lot more than their face value if you get them into the hands of a coin collector looking to add a few silver coins to their collection. But, to really know why silver coins hold so much value, it is important to know a little history about coins and what to look for.
The History behind silver coins and their value
Today, most of our coins hold little material value within them because they are composed of a mixture of Nickel and Copper and only hold the value given to them by the US Government. However, prior to 1965 Quarters and Dimes were minted out of Silver which means they hold not only their face value, but also the current market value of Silver.
For example, prior to 1965 Quarters were made of 90% silver. Dimes also share a similar history with Quarters. Prior to 1964 their composition was also 90%. Today, that means that the value of each silver coin in your possession varies depending on the current value of Silver.
Nickels, however, share a different history than Quarters and Dimes. Nickels have always been made of Nickel and Copper, and the ones that hold a silver value are War Nickels which were minted from 1942-1945. These nickels contain a mixture of Silver and Copper because Nickel was better used to make steel for the war.
How to Identify a Silver Coins
Identifying a silver coin is easy, for Quarters and Dimes simply look at the minting date on the coin and look for a date before 1965. Every Quarter and Dime minted before this date were made of 90% Silver and are easily worth more than face value. Alternatively, you can look on the reeded edge of the coin and look at the color. A silver coin will be a distinctive solid color of Silver, while non-silver coins will have a Nickel and Copper colored reeded edge.
For Nickels you will have to rely solely the color of the coin, and the dates on the coin. Silver Nickels were only minted from 1942-1945 and have a distinctive silver coloration.
If you are unsure of whether it is silver or not, you can always take your coins to a collector and have them check for you. Most collectors will be more than happy to share information on the coins and their history with you.
Better Start Looking for Those Coins
Now that you know a little more about silver coins and their value, it’s time to start looking for and possibly even begin your own coin collection. Coin collecting is a fascinating hobby that is not only enjoyable for the collector but also others because of the history behind these coins. Look around and learn the extensive history that has shaped the coins we see today.
