United States circulating coinage underwent a significant change in the mid-1960s due to rising silver prices. Coins minted before 1965 contained 90% silver, but this composition became increasingly unsustainable. The year 1966 marked a transition period. The half dollar, specifically, saw a reduction in its precious metal makeup.
The shift from a 90% silver composition to a clad construction for the half dollar had substantial economic implications. The increasing value of silver made it uneconomical to continue producing coins with high silver content for general circulation. This change affected the intrinsic value of the coins, differentiating pre-1965 issues as valuable bullion assets. Collectors and investors closely monitor these coins for their silver holdings.