United States quarters minted in 1964 and earlier contained 90% silver. Coins produced from 1965 onward were made with a clad composition, consisting of layers of copper-nickel bonded to a core of pure copper. This change in composition occurred due to rising silver prices. The presence of silver significantly affects the intrinsic value of a coin beyond its face value.
The transition from silver coinage to clad coinage represents a significant shift in U.S. minting history. The increased cost of silver made it economically unsustainable to continue producing circulating coinage with a high silver content. This decision impacted collectors and investors, as pre-1965 silver coinage became more valuable due to its precious metal content. The shift also had implications for the national economy, as the government sought to manage the costs associated with producing currency.