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Collecting and Investing in 90% Silver Half Dollar Coins

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The allure of 90% silver half dollar coin lies in their dual role as tangible assets and pieces of history. Whether you are stacking silver half dollars for a rainy day, investment in junk silver, or have an interest in historic US coins, these .50 cent pieces offer a unique and valuable addition to any collection or investment portfolio.

Buying 90% half dollars offers a unique approach to stacking silver and connects collectors and investors to a piece of U.S. history. In 1964, the composition of half dollars changed to the modern clad version due to the dramatic rise in silver prices. These historic U.S. coins, minted before 1965, also present a valuable opportunity for those interested in junk silver investment.

Walking Liberty 90% Silver Half Dollar
Close-up of the condition of the average condition of a circulated silver 1944 American Walking Liberty Half Dollar

It’s possible to still find silver half dollars in circulation in some parts of the country. You can inquire with your local bank branches and credit unions about bank rolls of half dollar coins. Often times, 90% silver half dollars get mixed in with modern clad coins, particularly ones that may have been wrapped by other customers and brought in for deposit. If you’re interested in coin roll hunting, be sure to make friends with the bank tellers at your local branches. They may be kind enough to set some aside that you can buy for face value.

The Early 20th Century Silver Half Dollars

  1. Barber Half Dollar (1892-1915): Named after its designer, Charles E. Barber, this coin features Lady Liberty on the obverse and an eagle on the reverse. As a staple in junk silver investment, the Barber Half Dollar stands out. Mintage numbers vary widely, with some years producing over 5 million coins and others, particularly the earlier years, having far fewer.
  2. Walking Liberty Half Dollar (1916-1947): Admired for its design, this coin, created by Adolph A. Weinman, depicts a striding Lady Liberty. It’s considered one of the most beautiful U.S. coins. The modern American Silver Eagle inherited its original design.

    Highly regarded among historic US coins, the Walking Liberty is a favorite for stacking silver half dollars. Its intricate design and silver content make it a must-have. Mintage ranged from a few hundred thousand to the tens of millions in later years.
  3. Franklin Half Dollar (1948-1963): The most popular half dollar with investors is the Franklin Silver Half Dollar. Featuring Benjamin Franklin, the iconic American inventor, on the obverse and the Liberty Bell on the reverse, this coin has a notably more modern design. Its depiction of one of the most notable founding father and former Secretary of State adds historical significance.

    The Franklin Half Dollar is widely recognizable, making it a wise choice for those looking to diversify their junk silver investment. Annual mintage generally ranged from 2 to 25 million. It’s a nice surprise to find specimens with full bell lines (FBL) when buying circulated 90% silver half dollar coins.

The Transition Away from 90% Silver

During the early 1960s, the US Mint was encouraged to find alternatives for silver in circulating coinage due to rising commodities prices. With silver in demand due to a variety of industrial advances, prices were rising and people were hoarding every silver half dollar that they could get their hands on. This led to a coin shortage and caused the economy to nearly grind to a halt during that period. However, some notable silver half dollars were minted after this time:

  • Kennedy Half Dollar (1964-present): Initially minted in 90% silver in 1964, this coin was introduced as a memorial to President John F. Kennedy. The 1964 Kennedy Half Dollar had over 400 million minted between the Philadelphia and Denver Mints (1964 and 1964-D).

    Many of these were pulled from circulation by collectors and ordinary people as keepsakes and the intrinsic value. Today, they are the most sought after by junk silver investors and preppers due to the extremely high mintage amount, recognizability and limited circulation. They are also easy to visually verify by looking at the edge and date.

    There are a variety of proof finish coins and die variation that are sought out by collectors that fetch significant premiums. Specimens in AU and BU condition can still be found when buying bulk lots and can make good flips for a quick profit to buy more silver.

    Beginning in 1965 and through 1970, Kennedy half dollars were minted with a 40% silver alloy.

Notable 90% Silver Proof Half Dollars

  1. Special Mint Sets (1965-1967): While not 90% silver, these coins were struck in 40% silver as part of special mint sets during the years when no proof sets were issued.
  2. Silver Proof Sets (1992-present): The U.S. Mint resumed the production of 90% silver proof sets in 1992. These sets include half dollars with the same design as the Kennedy half dollars but are minted in the traditional 90% silver composition. These coins often have a distinct sheen that clad coins can’t match. These modern silver proof coins include the S mint mark to indicate production at the San Francisco mint.

Historic Silver Half Dollar Key Dates

For those looking for numismatic investment opportunities, certain key dates that often fetch high include the early issues of the Walking Liberty and select years of the Barber and Franklin series. These coins are more than just junk silver; they’re treasures of American numismatics. For those interested in collecting or investing in 90% silver half dollars, look for :

  • 1916 and 1921 Walking Liberty Half Dollars: These are known for their lower mintage and are highly sought after by collectors.
  • 1938-D Walking Liberty Half Dollar: Another rare coin, particularly in higher grades.
  • Franklin Half Dollars (1948-1963): While generally more available, early years and well-preserved specimens are prized. Look for Franklin Half Dollar Proof coins with a high grade from NGC and PCGS to get a better understanding of how these coin are priced.
  • 1964 Kennedy Half Dollar: Although not rare due to its high mintage, it remains popular due to its historical significance and being the last 90% silver half dollar for circulation.

For collectors and investors, these coins offer not just the intrinsic value of silver but also a piece of history that continues to fascinate and inspire. Whether you’re a seasoned numismatist or a new collector, the journey through the world of silver half dollars is sure to be a rewarding one.

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America the Beautiful Proof 90% Silver Quarters and 5 oz Silver Coins

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American The Beautiful Proof 90% Silver Quarter coins

The America the Beautiful series, an ambitious project by the US Mint, was conceived as a continuation of the popular state quarters program that was launched in 2010. Each year, five new designs were released, featuring national parks, forests, and historical sites from each state, territory, and the District of Columbia. The complete series included 56 quarters by its conclusion in 2021, offering a numismatic journey through the country’s most cherished and significant locations.

The coin designs featuring a variety of locations that were chosen for their cultural, historical, and natural significance, making each release a snapshot of American heritage. This series not only appeals to collectors but also educates the public about the nation’s diverse landscapes and storied past.

The 90% silver proof quarters offer a blend of traditional coinage and collectible appeal, while the 5 oz silver bullion coins provide a substantial and striking option for collectors and investors alike.

American The Beautiful Proof 90% Silver Quarter coins

The proof versions of the America the Beautiful quarters are particularly sought after. Struck in 90% silver, these quarters harken back to the era when silver was a standard in everyday coinage. The proof coins are distinguished by their sharp, detailed designs and mirror-like finish, making them a standout in any collection.

These silver quarters are often considered the best value for buying ‘junk silver’ – a term used for older US coins with silver content. Unlike regular circulated coins, these proof quarters come in superior quality and have never been used in transactions, preserving not only their condition and aesthetic appeal, but also their full intrinsic value. The intrinsic value of their silver content, combined with their numismatic appeal, makes them an excellent choice for both collectors and investors seeking silver with historical and collectible significance. Each 90% Silver Proof Quarter is minted with 6.25 grams of pure silver.

The Allure of American The Beautiful 5 oz Silver Bullion Coins

Reverse of a 2011 ATB Glacier Montana 5 oz Silver Coin from the US Mint

The 5 oz silver bullion coins in the America the Beautiful series are a numismatist’s delight. These coins are unique not only for their large size but also for their detailed and artistic renderings of America’s natural and historical sites. Each coin contains five troy ounces of .999 fine silver, making them substantial in both weight and value.

Their large size allows for more intricate and prominent designs, showcasing the artistry and craftsmanship of the US Mint.

These coins are also available in both a highly collectible limited mintage proof variant, as well as a bullion version that was offered based on sales demand from investors. Some of these 5 oz silver bullion coins saw extremely high mintage levels during some years. While others saw very little demand, particularly during the early years of the series.

Additionally, their hefty silver content makes them an excellent store of value and a solid addition to any stack or investment portfolio. Oftentimes, these coins end up being sold back to local coin stores and bullion dealers, who often resell them in the secondary market rather than being melted down by a refiner. These secondary market America the Beautiful 5 oz Silver coins are often the cheapest way to acquire these coins at the best price. These will often contain a random selection of coins that were available throughout various years and are a great way to buy US Mint 5 oz silver coins.

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What Dimes Contain Silver?

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Silver Dimes

US dimes that were minted before 1965 contain silver. These silver dimes were struck with an alloy that contains 90% silver. The melt value for each silver dime is over $1.60 today.

The Mercury Silver Dime was continuously minted by the US Mint from 1916 until 1945. These coins feature Lady Liberty on the obverse wearing a phrygian cap, often mistaken for the Greek God Mercury due to the winged hat.

The Roosevelt Silver Dime was introduced in 1946 and was minted with a 90% silver alloy until 1964.

Silver dimes, like all 90% silver US coinage are sometimes referred to as “junk silver”. This is a common term adopted from the coin collecting industry for coins that have little to no numismatic value. Their value lies strictly in the silver content.

Junk silver dimes are a great way to start investing in silver. They are fractional and you can buy them close to spot price.

Silver Dimes in Circulation

There are still some silver dimes in everyday circulation alongside modern clad coins. The Roosevelt Dime was introduced in 1946. Billions of silver dimes were minted up until the debasement began in 1965. While many have been melted down over the years, there are still plenty available in the wild.

The easiest way to tell if you have a silver dime is by looking at the date. All dimes that were minted prior to 1965 contain 90% silver content. If your dime is from 1964 or earlier, then it is a silver dime.

Silver Dime Values

At the very minimum, a silver dime is worth its weight in silver. A 90% silver dime has an overall gross weight around 2.5 grams. Therefore, it has roughly .0715 ozt of silver. Based on the spot price, the intrinsic value of the silver is worth far more than the face value, which is the primary reason that the government stopped the use of silver and made the switch to clad coins.

An easy way to estimate the value of your silver dimes is that each $1.00 Face Value, or ten silver dimes, contains .715 troy ounces of silver. This is a commonly accepted weight that takes into consideration that there may be some wear and tear from circulation.

For more information about which silver dimes may be key dates and have some numismatic value you can check out the page on coinflation.com.

You can easily compare online dealer prices for 90% silver dimes:

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Cleaning Old Coins

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junk silver quarters

Cleaning old coins is a topic that often divides coin collectors and numismatists. Generally, experts advise against cleaning coins, as doing so not only removes the patina, it can also scratch their surface and will most likely diminish their value, especially for collectible or antique coins.

Coin collectors and numismatists prefer coins with their original, uncleaned surfaces.

However, if you have circulated 90% junk silver coins that you wish to clean for personal enjoyment and are not concerned about their collectible value, there are a variety of gentle methods you can use.

The simplest and least invasive method is to use soap and warm water. Soak the coins in warm water with a mild dish soap like Dawn and then gently rub them with your fingers or a soft cloth. Avoid using any abrasive materials that can scratch the coin.

For coins with heavy buildup, an olive oil soak can sometimes loosen grime over time. Place the coins in a container filled with olive oil and leave them for a week or longer. This method is very slow and can take quite a while to show results.

Vinegar and Salt can be used for cleaning base metal coins such as common modern pennies. Mix vinegar with a teaspoon of salt and soak the coins in the solution for a few minutes before rinsing them thoroughly with distilled water. Be aware that this can potentially damage the coin’s surface and is not recommended for valuable or antique coins.

Electrolysis is often used by professionals and involves passing an electric current through a solution with the coin as an electrode. It can be effective but also risky, and should not be attempted without proper knowledge and equipment.

There are a variety of commercial products in the form of liquids, foams and creams specifically designed for silver cleaning. For really grimy 90% junk silver, cleaning creams like Wrights Silver Cleaner, available from Amazon, often produce excellent results when used with a soft cloth. If you decide to use one of these, follow the instructions carefully.

Several collectors in the Reddit /r/silverbugs forum prefer to clean their junk silver coins with a rock tumbler with surprising results.

If you have old coins that may collectible value, it’s best to consult a professional before attempting any cleaning. Professional conservation involves techniques and substances that are not readily available to the public and is performed by experts with an understanding of the chemistry of coins and the effects of various cleaning methods.

Always test any cleaning method on a coin of little or no value before attempting it on anything more valuable. And remember, if a coin is valuable or if you’re unsure of its value, it’s best to leave the cleaning to the professionals.

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Do you need a safe to store precious metals at home?

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vintage gold coins

Whether you should buy a safe to store precious metals at home depends on several factors and personal preferences. Many investors choose to store their metals at home, sometimes alongside firearms and other valuables.

There are many advantages to keeping your precious metals at home. Most importantly, you will always have direct, anytime access to your precious metals without needing to go through a third party or institution.

In situations where part of your holdings may be stored in a bank safe-deposit box or third-party depository, you are at the mercy of the facilities business operating hours. In recent years, the trend within the banking industry has been to eliminate or consolidate their deposit box services to fewer locations, limiting access even further.

By storing valuables at home, you avoid the risks associated with third-party storage, such as business failure or mismanagement.

This year, we have seen the largest number of bank failures since the 2008 Financial Crisis, and the Federal Reserve is expecting even more to come. In the event of a bank failure, safe-deposit boxes are not insured or protected by the bank.

Keeping your holdings in a home safe ensures privacy and confidentiality. Under the guise of pursuing the profits of criminals, the FBI has seized over $86 million in assets from innocent Americans in recent years that were stored in private vaulting facilities.

Also keep in mind that the risks of storing gold at home are rising. As the United States economy continues to experience recessionary vibes, crime is already on the rise. Stories of gold thefts continue to make recent headlines.

Considerations for a Home Vault for Storing Precious Metals

When buying a home safe for precious metals, it’s crucial to understand that a safe to store precious metals is just one layer of protection that should be part of an overall security plan. Other factors are also important to consider, such as your home’s security, including cameras, monitored alarm system, accessibility and the level of protection you may need against various threats before making a significant investment in a safe.

A small amount of gold and silver can often be hidden throughout the home in places that the everyday thief who’s looking for a quick score might not normally look. Some investors have been known to wrap a few 10 oz silver bars in butcher paper and toss them in the freezer.

Imagine how the structure of a bank was built during the 20th century. After the foundation was laid and cured, the vault would be built next. Secured via reinforcements in the cement foundation. The building was then built around the vault.

The building provides additional layers of security, such as multiple locking doors in between the vault and the exits. Security cameras and alarms provide addition layers of protection at times when the bank is closed.

When considering buying a safe to store precious metals for your home, it is important to consider the location. Consider an area that is against a wall in a low-traffic area. While some locations like the master bedroom closet are obvious to would be thieves, you might consider other options like installing a floor safe beneath a side chair in a home office or den.

Specialty companies also sell various pieces of furniture that are designed to be hidden in plain site.

Most reputable manufacturers will provide options that allow for the secure mounting of the safe to the foundation or framing of the house. This helps to deter would-be thieves from carrying your safe to another location where they have more time and better tools.

Home Safe Options

It’s important to think about the size of your your current collection and any future additions when choosing a safe. If you’re planning to keep some gold at home as a physical savings, a few 1 oz gold coins are small enough to fit alongside a pistol in a nightstand gun safe.

Choose a safe that is heavy enough to deter thieves from trying to remove it from your home. A much better option is to secure the safe with bolts to the foundation of the house. If that’s not possible, securing the safe to the framing inside a closet is another good option.

Look for a safe with high-quality lock mechanical locking mechanism. Electronic safes, such as those having electronic keypads or biometric scanners are easily hackable and many contain default codes from the manufacturer that law enforcement can use to open some safes. Dual locks that requiring two methods to open can provide an extra layer of security.

Choose a safe that has adjustable shelves or drawers that offer options for organization and quick access to frequently used items.

Burglary Ratings

The ability of a safe to withstand attempts by a skilled burglar is measured by its Tool Latency, or TL rating. TL ratings for safes are a set of standards used to measure the security level of a safe, particularly against attacks aimed at breaking into it. The TL rating indicates the amount of time that a safe can withstand an attempted break-in with common hand tools, electric tools, cutting torches, or any combination thereof.

These ratings are issued by Underwriters Laboratories (UL), a global safety certification company that sets industry-wide standards for safes and other security containers.

Below is a list of some of the more common TL ratings and what level of protection is offered from each.

  • TL-15: The safe can resist entry for a minimum of 15 minutes when attackers use common mechanical and electrical hand tools or picking tools. The tools could include items such as drills, sledgehammers, pry bars, etc.
  • TL-30: Similar to the TL-15 rating, but the safe can resist entry for at least 30 minutes.
  • TL-30×6: This indicates the safe can resist entry for at least 30 minutes on all six sides, meaning the door as well as the five other sides of the safe.
  • TL-60×6: This is one of the highest standard ratings for commercial safes, signifying that the safe can resist entry for a minimum of 60 minutes on all six sides.

The UL rating of a safe typically corresponds to its price, with higher-rated safes being more expensive and can provide enhanced security features and thicker walls and more robust construction.

For valuable collections, important documents, or significant amounts of cash or precious metals, a higher TL-rated safe might be necessary. Always consult with both a safe professional and your insurance provider when selecting a safe, as insurance coverage requirements may also dictate the necessary security level.

Fire Protection Ratings

Fire ratings for safes are a measurement of how well a safe can protect its contents against high temperatures and fire over a period of time. Independent organizations like Underwriters Laboratories (UL) conduct a rigorous battery of performance tests to see how well safes can withstand intense heat while maintaining a set internal temperature that would prevent damage to the contents.

  1. UL Class 350: This rating indicates that the safe will maintain an internal temperature below 350 degrees Fahrenheit, which is a critical threshold for paper documents that would char at temperatures beyond this point. The rating may come with a time designation, such as 1 hour (UL 350-1hr) or 2 hours (UL 350-2hr), indicating the duration for which the safe can maintain this protection.
  2. UL Class 150: This rating maintains an internal temperature below 150 degrees Fahrenheit, suitable for protecting magnetic tapes and photographic records.
  3. UL Class 125: The highest level of protection for safes, maintaining an internal temperature below 125 degrees Fahrenheit, which is suitable for preserving digital media such as CDs, DVDs, USBs, and external hard drives.

Each class rating come with an additional rating for impact resistance, indicating that the safe can withstand a fall from a certain height during a fire, which simulates a floor collapse.

When choosing a fire-resistant safe, it’s important to consider what you’ll be storing inside it and choose a fire rating that’s appropriate. It’s also wise to consider additional factors, such as water resistance, as fires are typically extinguished with water which can also damage the contents of a safe.

Manufacturer Reputation

Reputable manufacturers have proven processes to ensure that their safes meet high standards for durability and security and stand behind their products with robust warranties and responsive customer support.

Buying a safe from well-known manufacturer will help it retain its value and are easier to sell if you ever decide to upgrade or no longer need the it.

Other Considerations

  • Choose a safe that allows for easy access to frequently used items.
  • Consider a safe with adjustable shelves or drawers for better organization.
  • A good safe should come with a warranty that covers defects and damage.
  • Ensure there is customer support available in case you have issues with the safe.
  • Buy from a reputable manufacturer known for quality products.
  • Read reviews and ask for recommendations from experts or other collectors.

Remember, while no safe is completely impervious to theft, fire, or water damage, a high-quality safe can significantly reduce the risk of loss. Consider the total value of what you are storing and invest in a safe that provides adequate protection relative to that value.

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The Basics of Coin Collecting

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Coins and currency are tangible artifacts that provide a window into the history, culture, politics, and economics of different time periods and civilizations.

Collecting coins and other numismatic items allows you to hold pieces of history in your hands and learn about the past through their collection. Prior to 1933, gold coins were part of the economy and were used for many every day transactions. Many of the Pre-1933 gold coins are now well over 100 years old.

Coin collecting originated as a pursuit driven by curiosity, fascination with history and the desire to preserve and understand the past through tangible artifacts. The origins of coin collecting, or numismatics, can be traced back to times as ancient as the coins themselves as some have been around for thousands of years. Over the centuries, it has grown into a well-established hobby with a diverse and enthusiastic community of collectors.

Coin Collecting Origins

The practice of coin collecting gained significant momentum during the Renaissance and Enlightenment periods. Scholars, artists, and thinkers of the era became interested in the history, artistry, and symbolism of coins.

One Italian poet, scholar and humanist in particular named Francesco Petrarch is often considered one of the earliest coin collectors. He owned a vast collection of coins, manuscripts, and artworks which he displayed in his “Cabinet of Antiquities.”

The concept of a “cabinet of curiosities” was popular during the Renaissance and Enlightenment. These cabinets, also known as Wunderkammer, were private collections that included various objects, including coins, fossils, natural specimens, artwork and antiquities.

Collectors like Petrarch saw coins as valuable artifacts that could provide insights into different and ancient cultures and historical periods, in addition to the intrinsic value.

Another notable early coin collector was English antiquary and politician Elias Ashmole. His eclectic collection included rare books, manuscripts and artifacts alongside a massive and significant collection of coins. Ashmole was one of the early members of the Royal Society and his collection formed the basis of the Ashmolean Museum in Oxford, one of the oldest public museums in the world.

Coin Collecting Catalogs

The emergence of coin catalogs began in the 18th and 19th centuries as numismatists began publishing books about coins, detailing their characteristics, origins, and historical context.

These catalogs helped collectors identify and classify coins, and they played a crucial role in the development of numismatic scholarship.

In the 19th century, organized coin collecting groups and societies began to form. These groups provided a platform for collectors to share their knowledge, exchange coins, and collaborate on research projects.

Founded in 1891, the American Numismatic Association (ANA) is one of the oldest and most influential coin collecting and numismatic organizations in the world. Their mission is to promote and advance the knowledge and enjoyment of numismatics, as well as to foster the exchange of information and ideas among collectors, dealers, and scholars.

Virgil Brand, an early American collector, assembled one of the most extensive and diverse coin collections of his time. His collection included an impressive array of rare U.S. coins, world coins, as well as rare and valuable ancient coins.

One of Brand’s notable contributions was the creation of the “Brand Book,” a multi-volume catalog of his collection.

The Brand Book provided descriptions and information about each item in his collection and remains an important resource for researchers and collectors.

The American Numismatic Association (ANA) is a nonprofit organization dedicated to the study and collection of coins and other related items.

Today, the “Red Book,” formally known as “A Guide Book of United States Coins,” is the most widely recognized and respected reference guide for collectors, dealers, and enthusiasts of United States coins. It is one of the most comprehensive and authoritative sources of information about U.S. coinage, providing essential details about coin values, mintage figures, historical background, and collecting tips.

The Red Book is published annually by Whitman Publishing with contributions from various numismatic experts. It has been in publication since 1947, making it a staple in the numismatic community for over seven decades.

The 77th edition of the Red Book covers everything from early colonial copper tokens to hefty Old West silver dollars and dazzling gold coins. The book includes more than 32,500+ prices and auction records for nearly 8,000 coins, tokens, medals, coin sets and other collectible species. 

Diversification: Coin collecting can diversify an investment portfolio. Since the value of rare coins or coins made from precious metals can move independently of traditional financial markets, they can provide a hedge against market volatility.

Inheritance and Estate Value: Well-curated coin collections can become valuable family heirlooms, passed down through generations. Over time, the historical and monetary value of these collections can grow significantly.

Educational Value: The knowledge gained from coin collecting about history, economics, and numismatics can be invaluable. This expertise can aid collectors in making informed purchasing decisions, potentially leading to profitable sales or trades.

Enjoyment and Satisfaction: While not a direct financial gain, the enjoyment and satisfaction of building a collection should not be underestimated. For many collectors, the value of their collection is also in the journey and passion for the hobby.

Networking and Community: Engaging with the coin collecting community can lead to opportunities for profitable trades, sales, or purchases. Networking can also provide insights into market trends and valuable information about rare and valuable coins.

Market Timing and Strategy: Skilled collectors who understand market dynamics can buy coins when prices are low and sell when they are high, much like stock market investments.

Condition and Preservation: Collectors who skillfully maintain and preserve the condition of their coins can see an increase in value over time. The condition of a coin is a critical factor in its valuation.

However, it’s important to note that coin collecting as an investment strategy carries its own risks and requires knowledge and research. The market for coins can be volatile and influenced by numerous factors. Therefore, it’s recommended to approach coin collecting with both an interest in the hobby and a strategic investment perspective, and not solely for the purpose of wealth generation. As with any investment, diversification and not putting all your financial resources into one type of asset is a prudent strategy.

US Mint Pre-1933 Gold Coin Investments

Collection of Pre-1933 Gold Coins

Coin collecting can also be a method of building wealth, albeit with certain nuances compared to traditional investments.

Many collectible coins, such as older coins or special bullion issues, are made of precious metals like gold and silver. The intrinsic value of these metals fluctuates with the markets and gold has a history of being a hedge against inflation.

Beyond the intrinsic value of the metal, collectible coins can acquire a numismatic premium. This premium is based on factors like rarity, condition (grade), historical significance, and market demand.

Rare coins, especially those with historical significance, limited mintage, or unique features, can appreciate in value over time. The scarcity and demand for these coins can drive their prices higher in the collector market.

The Executive Order 6102 required U.S. citizens to surrender their gold coins, gold bullion, and gold certificates to the government. Many gold coins deemed of numismatic value were exempt, however, a significant number of coins were melted down. This reduced supply has added to the rarity and desirability of many pre-1933 gold coins.

Collecting pre-1933 gold coins can be a rewarding and strategic choice for investors with an interest in numismatists since these coins were minted during an era when the gold standard was in place..

Pre-1933 gold coins offer the additional advantage of physical ownership of a tangible asset. Holding these coins provides a sense of connection to the past as well as a hedge against economic uncertainty.

These coins contain a significant amount of gold. For example, a $20 Saint-Gaudens gold coin contains .9675 ounces of gold. The intrinsic value of the gold content provides a floor for their market value. Most pre-1933 gold coins also numismatic value, even in circulated condition. The numismatic premium is determined by factors like rarity, demand, condition, and historical significance. In certain market conditions, the numismatic premium on specimen coins can substantially exceed the melt value.

Including a collection of Pre-1933 gold coins in an investment portfolio can provide a level of diversification beyond traditional financial assets.

Coin Grading Scale

As numismatics evolved during the 20th century, collectors and experts recognized the need for standardized terminology and grading systems. The Sheldon Coin Grading Scale, developed in the mid-20th century by Dr. William Sheldon has become the most widely adopted system for assessing the condition of coins.

With advancements in communication and technology, coin collecting has become more accessible to a global audience. The internet allows collectors to connect, research, sell and buy gold coins from around the world. Online auction platforms and forums have expanded the reach of numismatics.

Coin collecting has evolved beyond merely acquiring coins for their monetary value. Many collectors now focus on various aspects, including historical significance, artistic appeal, rarity, and cultural context, with some collectors specializing in specific periods, rulers, or coin types.

Universities and museums often have numismatic departments that contribute to research and education. These institutions offer academic programs and conduct research to further the understanding of coins’ historical and cultural importance.

Today, numismatics is a global hobby with collectors from different countries sharing their passion and expertise. Numismatic events, exhibitions, and conferences provide opportunities for collectors to connect and learn from one another.

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Silver Dimes

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Silver Dimes

Until 1965, U.S. dimes were composed of 90% silver and 10% copper. However, because of rising silver prices, the U.S. Mint decided to continue debasement of coinage by changing the composition of dimes to a copper-nickel alloy, starting with the clad coin production in 1965. The US Mint not longer issues silver dimes, instead, today’s dimes are of an alloy that is 91.67% copper and 8.33% nickel.

Silver dimes are ten-cent coins that were minted from 1796 to 1964, made from an alloy called “coin silver.”

Six different styles of silver dimes had been issued by the US Mint before 1965. Those include the Draped Bust, Capped Bust, Seated Liberty, Barber, Mercury, and Roosevelt designs.

Until 1965, U.S. dimes were composed of 90% silver and 10% copper. However, because of rising silver prices, the U.S. Mint decided to continue debasement of coinage by changing the composition of dimes to a copper-nickel alloy, starting with the clad coin production in 1965. Today’s dimes are of an alloy that is 91.67% copper and 8.33% nickel.

Silver Dime Variations

  1. Roosevelt Silver Dimes (1946-1964): These feature a portrait of President Franklin D. Roosevelt on the obverse side.
  2. Mercury Dimes (1916-1945): Despite the name, these actually depict a young Lady Liberty wearing a winged cap, which was mistaken for Mercury, the Roman messenger god.
  3. Barber Dimes (1892-1916): Named after their designer, Charles E. Barber, these dimes feature the head of Liberty on the obverse.
  4. Seated Liberty Dimes (1837-1891): These depict Liberty seated on a rock, holding a shield in one hand and an olive branch in the other.
  5. Capped Bust Dimes (1809-1837): These feature a portrait of Liberty wearing a cap, along with an eagle on the reverse.
  6. Draped Bust Dimes (1796-1807): These feature a portrait of Liberty with flowing hair and draped bust.

Collectors seek out silver dimes for their historical and numismatic value, while investors purchase them for their silver content as a hedge against economic instability or inflation. The industry refers to this as “junk silver,” although the term doesn’t reflect on the condition or value of the coin but rather means that its value comes primarily from its metal content rather than its rarity or collectibility.

Face Value Bags of Junk Silver

Online bullion dealers typically offer 90% silver dimes based on the face value that each contains. For example, each $5 Face Value standard bank roll of silver dimes has fifty individual pieces minted Pre-1965. Each circulated silver dime contains approximately .0715 troy ounces, with each standard $5 Bank Roll of silver dimes having a total of 3.575 troy ounces ASW.

Buying $100 Face Value bags of silver dimes provides one thousand individual dimes. These face value bags a popular way for new collectors to better understand the many rare dates, die variations, mint marks and error coins that are available. The intrinsic value of this bag is much higher than the face value due to the silver content of the coins.

Books About Silver Dimes

Pre-made Ten-Cent Coin Albums from Dansco and Whitman are an easy way for collectors to keep things organized and are available from Amazon and other retailers.

As a reference guide, many coin dealers use the spiral bound Guide Book of United States Coins, typically referred to as the “Red Book”, to help with pricing of collectible coins. The publish updates the guidebook each year making it one of the most common guidebook for collectors and investors alike.

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What is a Silver Certificate?

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The silver certificate was a type of representative money issued by the United States from 1878 to 1964. These certificates were some of the country’s first forms of paper money.

When silver certificates were first issued by the U.S. government in the 19th century, they were redeemable for their face value equivalent in silver dollar coins. Most typically, Morgan Dollar coins early on, then Peace Dollars. Though it is possible to have exchanged the certificates for any combination of silver coins, including dimes, quarters and half dollars as well.

As silver coins were being transitioned from the economy the Treasury stopped providing an exchange in silver coins. Instead, silver certificates were exchanged for raw silver bullion.

In 1968, the U.S. government halted the redemption of silver certificates for silver bullion entirely. While silver certificates are technically still fiat legal tender, most often they are kept as collector’s items or keepsakes, with some having significant numismatic value in certain conditions.

Key Facts About Silver Certificates

  • Silver certificates are a former legal tender paper currency that was issued by the U.S. government beginning in 1878.
  • Each certificate represented the face value amount in silver bullion, enabling individuals to carry and use paper currency for all the same transactions as silver and gold coins.
  • The Treasury Secretary declared that silver certificates would no longer be redeemable for silver dollars in 1964.
  • Silver certificates can still be redeemed for their face value in fiat currency today, however, many have historical and numismatic value beyond the face value.

Understanding Silver Certificates

On the front of each silver certificate, the following phrase was printed: “This certifies that there is on deposit in the Treasury of the United States of America X dollars in silver payable to the bearer on demand.” The ‘X’ represents the denomination of the certificate that ranged from $1 to $1,000.

When silver certificates were first introduced, silver and gold coins were considered to be real money. The value of each coin was based on the amount of silver that it was minted with. Each $1 USD silver coin has a gross weight of 26.73 g, with a silver content of 0.7734 ozt.

This means that for every ten Morgan Dollar coins someone was carrying, the weight of those coins was 8.6 troy ounces, a little more than half a pound. With the introduction of paper money, the same amount of silver value could be carried with just a few folded pieces of paper.

The key characteristic that helped insure that people adopted the use of silver certificates is that they were backed and guaranteed by the US Treasury and could be redeemed at anytime for the equivalent amount of silver coins.

Value of Silver Certificates

With precious metals removed from the economy completely in the early 1970s, modern U.S. currency, including paper bills and coins, is now fiat money with no underlying commodity providing backing.

This includes both Federal Reserve Notes and the no-longer-issued silver certificates, as neither are currently redeemable for a set amount of a silver or gold.

The value of individual silver certificate as numismatic collectibles can vary widely based on their age, condition, rarity, and specific print run, among other factors. Some are particularly valuable, especially specimens in good condition or with certain serial numbers, with many examples of PCGS graded large denomination silver certificates fetching hundreds of dollars.

Silver certificates continue to have strong appeal among silver stackers, currency collectors and those who appreciate the history and nostalgia they represent. They serves as a historical artifact that is a reminder of an era when silver was integrally woven into the fabric of the economy and how changes occur in the currency system regularly.

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1921 Silver Dollar

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Designs of the 1921 Morgan and 1921 Peace Dollars

The 1921 Silver Dollar holds significance as the last year of regular issue for the Morgan Silver Dollar series. After the passage of the Pittman Act in 1918, which authorized the melting and recoinage of silver dollars, the Morgan Silver Dollar production resumed in 1921 for a brief period before being replaced later in the year.

The United States saw an economic boom following the end of World War I and 90% silver coins were the bedrock of the economy.

The US Mint responded to shortages by restarting the production of the Morgan $1 Silver Dollar in March of that year, turning out 86,730,000 coins across three mint facilities:

  • Philadelphia (no mintmark) produced the highest number of 1921 Morgan Silver Dollar coins, roughly 44,690,000 with no mint mark.
  • Denver (D mintmark) minted roughly 20,345,000 1921-D coins.
  • San Francisco (S mintmark) minted 21,695,000 1921-S silver coins

At the same time, many politicians felt it would be a suitable time to change the design of the coins to have a more contemporary feel.

The Commission of Fine Arts petitioned an invitation-only competition in 1920 to find a suitable design to symbolize peace after the end of World War I.

The competition invited several prominent sculptors to submit designs for the new silver dollar coin. Among the participants were Anthony de Francisci, Hermon MacNeil, and Adolph A. Weinman. Each artist presented their proposed designs, which were reviewed by a panel of judges. Ultimately, the design created by Anthony de Francisci was selected as the winning design as the Peace Dollar silver coin.

Anthony de Francisci’s design featured a portrait of Lady Liberty wearing a radiant crown on the obverse side of the coin, with the word “LIBERTY” inscribed. The reverse side showcased a perched bald eagle resting on a rock, clutching an olive branch, symbolizing peace. The inscriptions “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “IN GOD WE TRUST” were also included on the coin.

The 1921 Peace Silver Dollar holds historical significance as the first year of issue for the series. However, it had a very limited mintage compared to the Morgan Silver Dollar, making it relatively scarcer and often more sought after by collectors. The Peace Silver Dollar series was produced from 1921 to 1935, with additional issues in 1964 and 1965.

The coin was only issued in a high-relief format, similar to a proof. In total, just 1,006,473 1921 Peace Silver Dollar coins were minted at the Philadelphia Mint, making it a single mint issue.

It’s worth noting that the availability and desirability of specific mintmarks can vary among collectors, and some command very high numismatic premiums due to their relative scarcity or historical significance.

With more than 80 million coins struck, it is very common to find 1921 Morgan Dollars in Brilliant Uncirculated that condition. Coins in finer condition and graded specimens tend to see higher increases in numismatic premiums over time.

Silver dollar coins often hold greater collector appeal compared to smaller denominations. Their larger size, historical context, and unique designs make them attractive to coin collectors and many build comprehensive collections spanning all mintage years and mintmarks. This collector demand influences the market value and potential appreciation of silver dollar coins over time with numismatic premiums.

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Sales Tax When Buying Silver and Gold

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The notion of being charged sales tax when investing in precious metals is a contentious issue to some. It also represents a line in the sand between some legislators and investors. Despite the long history of gold and silver being recognized as money, many states continue to tax their citizens for the privilege of owning these metals.

Some states have no sales tax, a couple others have provisions specific to precious metals, others impose varying levels of taxation. Taxing the exchange of money, which includes gold and silver, has been a topic of debate for many years.

The recognition of gold and silver as money dates back to ancient civilizations. These metals have been used as a medium of exchange for centuries.

The private ownership of gold became outlawed in 1933. Under government orders, millions of circulating gold coins were seized from citizens and melted down. Jewelry and numismatic coins were exempt from the ban. Any person caught hoarding gold was investigated, prosecuted and imprisoned.

During the prohibition years, coin collecting was viewed by many simply as a hobby. Some savvy investors used coin collecting as a way to discretely hold and hoard gold.

Many of the coins, although valuable for the intrinsic nature of the precious metal content, were viewed as merely collectibles. Many states allow for the taxation of numismatic collectibles.

During this time coin collecting quickly grew in popularity with many investors turning their attention to numismatics that were generally exempt from the ban. Whitman’s Blue Book was first published in 1942, followed by the Red Book in 1946.

Pre-1933 gold coins play a huge role for collectors and investors alike. These historic coins are from a period of time when the US economy was backed by gold.

For today’s investors, the premiums on pre-1933 US Mint gold coins have fallen significantly in recent years. In some situations, premiums for NGC and PCGS graded collectible double eagle coins can be lower than raw specimens. With cycles of numismatic premiums rising and falling over time these coins represent a solid long-term investment that could potentially bring numismatic returns.

Also during this time several countries began minting restrike gold coins. They are basically modern “reproductions” produced by the official government mint to the same standards as when the gold standard was agreed upon.

At the time, restrike gold coins were recognized as collectibles even though they had no numismatic value. It was a clandestine way for many gold investors to transact real money during the several decades when the ban on private gold ownership was place.

Many state laws regarding precious metals were written prior to 1974, during the times when ownership, buying as a hedge, or investing in gold was still illegal. The numismatic items that were bought and sold were viewed by the states as collectibles, thus taxable under most regimes.

Currently, six states have no sales tax on any purchases: Alaska, Delaware, Montana, New Hampshire, Oregon and Wyoming. While Nevada, South Dakota and Washington have laws or rules that exempt sales tax on precious metals purchases. Utah and Arizona have recently passed legislation that exempts precious metals from state capital gains taxes.

There is a growing recognition among state legislatures to exempt gold and silver purchases from sales tax due to its worldwide recognition as money. Lawmakers are recognizing the fact that gold and silver are relevant as a store of value and a hedge against fiat inflation.

The belief that precious metals transactions should not be subject to taxation is growing among state legislatures because they are now viewed as investment and not a consumer good.

While some states have recognized the historical and economic value of precious metals and are working to eliminate sales tax on them, other states still impose varying levels of tax on such purchases.

It is important for investors to be aware of the specific tax laws in their state when considering buying precious metals. Even in states that require taxation of previous metals it is possible to find a friendly local coin store or pawn shop that will gladly accept cash for silver.

The rules related to charging sales tax on precious metals are complex and vary across the 50 states and even amongst localities.

While trends towards eliminating or reducing sales tax on precious metals are growing, more states are beginning to recognize the importance of metals as real money and the value it brings in diversifying portfolios, protecting against economic uncertainties and being a stable asset.

There are many arguments against the taxation of the exchange of money into a store of value.

  1. Double taxation: When precious metals are purchased with money that has already been taxed, it is essentially double taxation to also tax the exchange of those metals. This can make investing in precious metals less attractive, and may discourage investors from diversifying their portfolios.
  2. Decreased competitiveness: If one state taxes the exchange of precious metals and another does not, it puts the taxed state at a competitive disadvantage. Investors may choose to purchase metals in a non-taxed state to avoid the extra cost, resulting in lost revenue for the state that taxes the exchange.
  3. Economic impact: Taxing the exchange of precious metals can have a negative impact on local economies. Investors may choose to take their money elsewhere, and local precious metals dealers may suffer from decreased business. This can lead to job loss and a decrease in tax revenue for the state.
  4. Encourages black market activity: High taxes on precious metals can encourage black market activity, where transactions take place off the books and taxes are not paid. This can lead to lost revenue for the state and can make it difficult for law enforcement to track the flow of money.

In the US, gold played a significant role in the economy when the country was on some form of the gold standard until 1971. During this period, the US dollar was backed by gold, which meant that the government had to hold enough gold to cover a large percentage of the value of all the dollars in circulation throughout the world.

However, the tax-free states in the US recognize the value of precious metals and the role they play in a diversified investment portfolio.

More states are recognizing the historic nature of precious metals as a form of currency and therefore, should not be subject to sales taxes. Mississippi became the latest state to remove sales tax on silver and gold allowing citizens to protect their savings against the devaluation of the dollar.

Removing Taxes on Silver Purchases

In addition to the tax-free states, several states have recently taken steps to remove or reduce sales tax on precious metals purchases.

For example, Mississippi, Kentucky, Maine, Wisconsin, Vermont, Minnesota, Alaska, Tennessee, Maine, and Idaho have all passed laws that either exempt precious metals from sales tax or reduce the tax rate.

These legislative actions reflect the growing recognition of the value of precious metals as a safe-haven asset and store of value.

These states have recognized the importance of precious metals as a store of value and have taken steps to remove barriers to their ownership. These states have made it easier for investors to protect their wealth with these assets.

Several states have recently introduced legislation to remove or change sales tax laws regarding precious metals.

For example, Mississippi, Kentucky, Maine, Wisconsin, Vermont, Minnesota, Alaska, and Tennessee have all either eliminated or reduced sales tax on precious metals in recent years.

Idaho and Maine are also considering gold reserve laws, which will allow the state to hold gold as a reserve asset.

Texas, often taking a leadership role in guiding other states, has introduced gold-backed digital currency law as an alternative to the anticipated Federal Reserve CBDC.

The state of Texas also operates a first-of-it’s kind bullion depository which allows for the segregated storage of precious metals for both individual and institutional investors in a secure and guarded facility.