Have you ever wanted to build your coin collection but find yourself lacking the budget to buy the high priced coins you desire? As a collector on a limited budget, I have been faced with this problem on numerous occasions. One of the ways that I have been able to build my collection is by searching rolls of coins to pick out errors and silver coins. While being able to identify error coins takes a bit of skill and know-how, finding silver coins is something almost anyone can do if they know what to look for.
While finding silver in coin rolls is much more difficult today than ever, there are still some prizes out there to those willing to spend the time and effort. In the last five years, I have earned close to $1,000 by searching rolls of coins obtained from local banks and cashing in the coins I found for their silver value. Below is a list of U.S. coins to look for if you’re interested in searching for silver:
Pre-1965 Dimes, Quarters and Half Dollars
In 1965, the United States stopped using silver in the dime and quarter, replacing it will a copper-nickel clad composition. At the time, the rising cost of silver exceeded the cost of making the coins, and the government made the change to prevent further losses. The half dollars, however, still contained silver until 1970, though in 1965 the composition changed from 90% silver to 40% silver.
Based on the size of the coins, one might think that the best chance of finding silver would lie in the dime, the smallest of the coins, since it contains the least amount of silver. In my experience, however, the half dollar is where I’ve had the best luck for a few reasons. First, most people assume that silver was completely eliminated from U.S. coinage in 1965. In my searches, I have found many more half dollars dated 1965-1970 than any previous examples, and I speculate the reason is many people skipped over them, not knowing they still contained silver. Second, when the United States switched to the Kennedy design in 1964 to honor the fallen president just two years prior, it created a frenzy where everyone started hoarding the Kennedy half dollar, thinking the coin would someday have a high value. When this happened, it became so difficult to find half dollars that they essentially found their way out of circulation.
Today, it is very unusual to see someone using a half dollar, and, as a result, there is little demand for them. Because so few circulate, there is less of a chance that they have been passed around for the silver coins to be removed from circulation. Recently, with the spike in silver prices, many people began requesting boxes of half dollars from banks, removing the silver coins and returning them to the banks. While this has been popular of late, I have still been able to find a consistent share of silver coins, about one in every three to four rolls, when I am able to obtain them from local banks in my area.
War Nickels
From 1942-1945, the United States temporarily changed the composition of Jefferson nickels from copper-nickel to a 35% silver base because nickel was in high demand during World War II. These silver coins can be identified today be an enlarged mint mark on the reverse of the coin, above the dome of Monticello. Because Jefferson nickels never otherwise contained silver, it’s not uncommon to find nickels dating back to the beginning of the series in 1938, so there is still a possibility that you may come across some war nickels if you search long enough. While I focus much of my effort on half dollars, I have come across a handful of these coins over the last few years.
Proof Coins
Another way of finding silver coins in circulation is to find a proof coin. Proof coins are created as part of a special set the United States Mint puts together, and instead of issuing regular clad dimes, quarters, and half dollars, the coins may be minted from silver. These special silver sets were first issued in 1992, and any silver coins found in circulation from proof sets will bear an ‘S’ mint mark. The only way these coins enter circulation is from someone intentionally breaking up the specially designed sets, so the chances of finding one of these coins in general circulation is very small.
While the amount of silver coins in circulation diminishes by the day, there are still enough out there to make it worth the hunt. My biggest advice is patience, as I have often experienced long dry spells between periods of good luck. Whatever series you decide to search, have fun and happy hunting!
Brandon Maxam has spent over 20 years collecting and researching coins. His particular area of interest is Morgan dollars.
