Constitutional silver refers to U.S. Mint-issued coins with silver content. The term comes from the Constitutional clause granting Congress the authority to produce and manage the U.S. money supply. You may see this term used interchangeably with junk silver, although these coins are valuable, even if only for their silver content.
What Coins are Silver?
Many of the same coins made from a copper-nickel alloy today were once issued with a high silver content. Before 1965, the dime, quarter dollar, half dollar, and dollar coins were composed of 90% silver and 10% copper.
From 1965 until 1969, half dollar coins from the San Francisco Mint were produced with a 40% silver content. Between 1971 and 1976, dollar coins produced by the San Francisco Mint were 40% silver and in 1976, quarters from the San Francisco Mint were 40% silver.
In addition, wartime nickels were issued with a 35% silver composition between 1942 and 1945.
List of Constitutional Silver Coins
90% Silver U.S. Mint Coins
| Type | Years of Issue |
| Dollar | 1794-1935 |
| Half Dollar | 1794-1964 |
| Quarter Dollar | 1796-1964 |
| Dime | 1796-1964 |
40% Silver U.S. Mint Coins
| Type | Years of Issue |
| Dollar (San Francisco) | 1971-1976 |
| Half Dollar (San Francisco) | 1965-1970 |
| Quarter Dollar (San Francisco) | 1976 |
Why is it Called Constitutional Silver?
The United States Constitution grants the authority to coin money and relegate its value to Congress in Article I, Section 8, Clause 5. This clause states Congress shall have power “to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.”
Numerous acts of Congress over the years have been enacted to coin and regulate money, including the composition of United States coins.
Coinage Act of 1792
The Coinage Act of 1792 created the dollar as the nation’s standard financial unit, established the U.S. Mint, and enacted the first Federal standards governing the composition of coins. While the new U.S. dollar was pegged to the value of a Spanish dollar, its fineness was set at 90%, as opposed to the Spanish 89.24%. This set the silver standard for circulating U.S. coins, as well as dictate the metal content and total weight for every coin from the $10 Eagle to the half cent.
Coin Composition Under the 1792 Coinage Act
| Coin | Value | Silver Weight in Grams | Total Weight in Grams |
| Dollar | $1 | 24.1 | 27.0 |
| Half Dollar | $0.50 | 12.0 | 13.5 |
| Quarter Dollar | $0.25 | 6.01 | 6.74 |
| Dime | $0.10 | 2.41 | 2.70 |
| Half Dime | $0.05 | 1.20 | 1.35 |
Coinage Act of 1834
The Coinage Act of 1834 did not change the composition or weight of U.S. Mint silver coins. The act revised the gold-to-silver ratio, as silver had been overvalued in relation to gold. The ratio changed from the 1792 level of 15:1 to 16:1, which effectively placed the silver price below its international market price.
Coinage Act of 1853
The Congressional Coinage Act of 1853 reduced the silver content of the half dime, dime, quarter dollar, and half dollar by about 7%. The silver content of a dollar was unchanged.
Coinage Act of 1873
The Coinage Act of 1873, also called the Crime of ’73, was momentous and controversial. Among other notable actions, this act eliminated coins like the half dime, three cent silver, and two cent pieces. It added minor weight to the dime, quarter dollar, and half dollar without changing their composition.
Buying Constitutional Silver
Some investors and silver stackers like buying constitutional silver because it affords one of the lowest premiums available for silver coins on the market. These coins have been circulated and are often bought for their silver content. Buying Constitutional silver presents a low entry point for silver investors and silver stackers since they lack the relatively higher premiums of the Silver American Eagle and recently produced silver rounds.
