United States quarters, once composed of 90% silver, underwent a significant change in their composition. The year this transition occurred marks a pivotal point in the history of American coinage. Prior to this year, these coins held intrinsic value due to their silver content, making them desirable for both circulation and precious metal investment.
The removal of silver from circulating coinage was primarily driven by rising silver prices in the early 1960s. The value of the silver in the coin began to exceed its face value, leading to widespread hoarding and coin shortages. Eliminating silver content stabilized the currency and allowed for continued coin production.