U.S. Silver Coins
With the increased interest in silver, it's not surprising that those investing in silver bullion are now turning their attention to US silver coins. It is not uncommon to see silver bullion dealers offering silver coins for purchase in bulk.
In the past, US silver coins were primarily looked at for their numismatic value; however, with some coins having as high as 90% silver composition, these same coins are now being viewed as more valuable for their silver content than collectibility.
So how much silver is in US silver coins? And, which coins should you be looking at?
Before making any decision to invest or purchase, you need to know which coins are 'silver' - as well as the percentage of silver.
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The chart below lists the US silver coins by denomination and date, along with the percentage of silver content.
| YEAR | DENOMINATION | SILVER PERCENTAGE |
| 1942-1945 | Nickel | 35% |
| 1916 - 1945 | Mercury Dime | 90% |
| 1946 - 1964 | Roosevelt Dime | 90% |
| 1892 - 1916 | Barber or Liberty Head Quarter | 90% |
| 1932 - 1964 | Quarter | 90% |
| 1932 - 1964 | Washington Quarter | 90% |
| 1916 - 1947 | Walking Liberty Half Dollar | 90% |
| 1964 | Kennedy Half Dollar | 90% |
| 1878 - 1921 | Morgan Dollar | 90% |
| 1921 - 1935 | Peace Dollar | 90% |
While the silver content for these old silver coins is decidely worth more than their face value, their possible numismatic value should not be dismissed. Some of the older coins - and some of the not-so-old coins that have a low mintage - can be highly desirable and carry a high value.
Taking this to the next step - "Is it illegal to melt US coins?"
While there no definitive statement that says it is 'ok' to do this, there is nothing to state that you can't. What it does say is that it is illegal to damage or deface coins with intent to defraud, i.e., alter the face of a coin to pass it off as something other than what it is. (Read paragraph from U.S. Mint below)
Section 331 of Title 18 of the United States code provides criminal penalties for anyone who fraudulently alters, defaces, mutilates impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the Mints of the United States. This statute means that you may be violating the law if you change the appearance of the coin and fraudulently represent it to be other than the altered coin that it is. As a matter of policy, the Mint does not promote coloring, plating or altering U.S. coinage: however, there are no sanctions against such activity absent fraudulent intent.
With the market value of silve continuing to rise, it would seem logical that at some point the melting of coins will become a viable, if not serious, consideration.
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