The United States coin issued in 1964 with a face value of fifty cents, contains 90% silver. Its intrinsic worth is therefore tied to the current price of silver in the precious metals market. For example, if silver is trading at $25 per ounce, the melt value of the coin will be a substantial multiple of its face value.
The significance of this coin lies in its historical context and metal content. Prior to 1965, circulating coinage in the United States contained significant amounts of silver. The rising cost of silver led the U.S. government to eliminate or reduce silver content in dimes and quarters, and reduce the silver content to 40% for half dollars from 1965 to 1970. Coins minted in 1964 or earlier represent a tangible piece of American history and provide a hedge against currency devaluation.