When one thinks of owning silver, usually they refer to bars and medallions in bulk whether that means in pieces (quantity) or in ounces (5oz, 10oz, etc). It makes perfect sense, but what often some do not think about is the intent when owning silver.
Previously we talked about owning 90% silver coinage and its benefits, which you can read up on at our website. To make a long story short, United States coinage is THE benefit and we all know that carries a lot due to the ever-growing need to learn more and more about our rich history as Americans in this current social and political climate. So continuing the conversation, we now turn to 40% silver. We know there is a question mark above your head right now. Let us explain.
The Transition in Coinage
After the striking of the 90% silver 1964 Kennedy Half dollars in the wake of President John F. Kennedy’s assassination, the United States Treasury found itself minting well over the 91 million planned and soon found themselves producing approximately 160 million. The problem with it? This high mintage was not circulating because consumers were keeping the coins to themselves.
Due to rising silver prices at the time and the hope that minting more coins would fix the growing issue of circulation, the Treasury asked to continue minting the 1964-dated half dollars into 1965 and by the end of it, nearly 430 million Kennedy half dollars were produced.
Because of the high mintage of the half dollar, the silver stock of the United States rapidly decreased which worried the Treasury in addition to the guy in the White House. Silver spot prices rose as well, making the difference between face value and melt value very minimal. This caused President Lyndon B. Johnson to relay a plan in 1965 that would remove all silver from dimes and quarters and be replaced with copper-nickel. This also resulted in the change of the the most popular of 40% coins: the Kennedy half dollar and eventually the Eisenhower dollar beginning in 1971.
United States Coinage,1965-1974
With the new change in silver metal composition, the Kennedy half dollars from 1965-1969 were made up of 40% silver making the 1964-dated coin the only one to contain 90% silver. Later in 1971 when the production of the Eisenhower dollar started, only certain coins were struck containing 40% silver and were made available only in certain ways. For example, 1971-1974 minted Ike dollars were struck in 40% silver and bored the “S” mintmark.
Why 40% Silver?
First of all, the aforementioned reason that its made of up United States coinage that carries a history is a big reason, but if you prefer numbers to meaning, we can understand that. 40% silver coinage comes at a lower premium than 90%. Prices vary but most likely are very little over spot which makes it affordable to those who prefer silver coinage to bullion. Even in coinage past 1965, there are key dates that are important to the collector that chooses to hunt for them. Sometimes when buying in bulk, key dates are possible and have the advantage of being worth a little more than non-key date pieces when it comes to melt value.
Featured Product 40% Silver Coinage
We have available a few 40% grab bag options that will make anyone who enjoys looking at United States coinage a happy camper! Each specified lot will add up to the $1 face value amount that is chosen. Coins will vary but for each $1 purchase, you will receive two randomly selected Kennedy half dollars from 1965-1969. To complete your storage needs, we also have a heavy duty blank canvas bag that can be added to your order.
