The History of U.S. Circulating Coins

The story of U.S. circulating coins began long before the opening of a national mint in 1792. Before national coinage, a mix of foreign and domestic coins circulated, both during the Colonial Period and in the years following the Revolutionary War. After Congress established the U.S. Mint in 1792, the Mint struggled for many years to produce enough coins. Finally, production numbers grew to meet the demands of a growing nation, providing some of the most beloved circulating coin designs.

During the Colonial Period, a variety of coins circulated, including British pounds, German thalers, Spanish milled dollars, and even some coins produced by the colonies. Spanish milled dollars became a favorite because of the consistency of the silver content throughout the years. To make change for a dollar, people sometimes cut the coin into halves, quarters, eighths, and sixteenths to match the fractional denominations that were in short supply.

After the Revolutionary War, the Articles of Confederation governed the country. The Articles allowed each state to make their own coins and set values for them, in addition to the foreign coins already circulating. This created a confusing situation, with the same coin worth different amounts from state to state.

In 1787, after much debate about national coinage, Congress authorized the production of copper cents. Called Fugio cents, the coins featured a sundial on the obverse and a chain of 13 links on the reverse. However, the following year, a majority of states ratified the Constitution, establishing a new government and creating a new debate over national coinage. Source

How to Organize an Ancient Coin Collection

 

Here is a very simple system for you to organize your collection. It is based on 3 easy steps, from overall sets, to types, and varieties amongst that type. This should help you make sense, organize and plan the growth of your collection better.

How Coins Are Made ... For Kids!

 

Learn how the United States Mint makes coins!

High Tech Robots at the San Francisco Mint

 

Learn about the robots on the San Francisco Mint's high tech robotics line that package proof coins.

What is Junk Silver?

If you’ve inherited a jar of old coins or found pre-1965 quarters tucked away, you may already own silver without realizing it. These coins — often called “junk silver” — can hold real value tied to today’s silver prices, which remain relatively accessible compared to gold. Despite the name, junk silver isn’t worthless. The term refers to older circulating coins that contain silver but aren’t considered rare or collectible. Before the mid-1960s, the United States Mint used silver in everyday coinage. Today, these coins are valued primarily for their metal content rather than their rarity.

What is junk silver?

Junk silver is the industry term for silver coins that have no numismatic value, meaning they aren’t of interest to rare coin collectors. With a few exceptions, the U.S. Mint stopped using silver in circulating coins after the Coinage Act of 1965, but that’s recent enough that many of these coins are still available through dealers and collectors today. They’re often worn from years of circulation or were minted in such high quantities that they aren’t considered rare. Instead, their value is tied directly to the amount of silver they contain. The word “junk,” therefore, refers only to their lack of collectible appeal, not the quality of the metal. These coins remain a legitimate source of high-purity silver.

How to tell if you already own junk silver

If you’ve inherited coins or have a jar tucked away, a few quick checks can help you determine whether they contain silver:

• Check the date: Most U.S. dimes, quarters and half dollars minted 1964 or earlier contain 90% silver.
• Look at the edge: Silver coins have a solid gray edge, while newer coins show a copper stripe.
• Listen to the sound: When gently dropped, silver coins tend to produce a higher-pitched “ring” compared to modern coins.

If your coins meet these criteria, they may have value beyond their face amount—based on their silver content.

TIP: While it was once possible to find silver coins in circulation or bank rolls, this is now extremely rare, as most have already been identified and removed by collectors and investors over time.

How junk silver is valued

The price of junk silver is based on its melt value — the value of the silver content if the coin were melted down. In this context, junk silver is sometimes also referred to as “scrap silver,” meaning silver that is valued primarily for its metal content rather than collectibility.

This value depends on two main factors: the current market price of silver and the amount of silver in the coins. For example, $1.00 in face value of 90% silver coins contains about 0.715 troy ounces of pure silver. If silver is trading at $25 per ounce, that $1.00 in coins could be worth roughly $17 to $18 before dealer premiums.

Because individual coins contain small amounts of silver, dealers typically sell junk silver in bulk, grouped by face value — often in $100, $500 or $1,000 increments. You’ll also see pricing quoted as a multiple of face value. For instance, “20x face” means $1.00 in coins would cost $20. This multiple rises or falls with silver prices and market demand. Source

Happy Easter!

Hope you had a blessed holiday weekend! -Martinez Coin And Jewelry Exchange

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Vallejo, CA 94590

CALL US: 707-554-1754

Coin Storage Tips | How and Where to Keep Your Collection Safe

 

Keep your coin collection safe and secure with these expert tips for storing coins and explore the best coin storage options for collectors. If you're serious about protecting your investment, former ANA Education Director Rod Gillis covers options for collectors from affordable coin tubes and cardboard flips to high-end plastic holders and graded cases.

Rod breaks down the pros and cons of various coin storage methods, discussing how to protect your collection from damage while keeping it organized. Whether you're looking for economical solutions or premium options, you'll learn how to store your coins with confidence.