Are silver dollars pure silver? This question often arises among collectors and enthusiasts who are fascinated by the history and value of these iconic coins. While the term “silver dollar” suggests that the coin is made entirely of silver, the answer is not as straightforward as one might think.
The origin of the silver dollar dates back to the early 19th century when the United States Mint began producing these coins. Initially, the coins were indeed made of pure silver, containing 90% silver and 10% copper. However, as the demand for silver dollars grew, the composition of the coins began to change.
In 1873, the U.S. government passed the Coinage Act, which allowed for the production of silver dollars with a lower silver content. This new legislation allowed for the creation of coins known as “trade dollars,” which contained only 89% silver and 11% copper. These trade dollars were primarily used for international trade and were not widely circulated within the United States.
As time went on, the composition of silver dollars continued to evolve. During the Great Depression of the 1930s, the U.S. government faced financial difficulties and began to mint silver dollars with even lower silver content. The 1934 and 1935 silver dollars contained 40% silver, while the 1936-1937 and 1940-1945 silver dollars contained only 35% silver.
Today, most silver dollars minted after 1965 are not made of pure silver. The coins are now struck from a clad composition, which consists of a copper-nickel core covered by a thin layer of silver. While these coins are not made entirely of silver, they are still considered valuable by collectors and investors due to their historical significance and limited mintages.
In conclusion, the answer to the question “Are silver dollars pure silver?” is not a simple yes or no. While the term “silver dollar” suggests purity, the actual composition of these coins has changed over time. Collectors and enthusiasts should be aware of the varying silver content of different silver dollars when appraising their collections and making investment decisions.
