United States quarters produced in 1964 and earlier contain 90% fine silver and 10% copper. This composition distinguishes them from subsequent issues. These coins possess an intrinsic metal value that fluctuates with the prevailing silver market price. A typical example, in circulated condition, is worth considerably more than its face value due to the precious metal content.
The historical context surrounding the cessation of silver usage in circulating coinage stems from rising silver prices in the early 1960s. The metal’s value exceeded the face value of the coins, leading to widespread melting and hoarding. The removal of silver from circulating coinage was a response to this economic pressure. These earlier silver coins represent a tangible connection to a time when precious metals were an integral part of the monetary system, thereby accruing numismatic and collector value.