Do You Have Silver Clinkers or Worthless Clunkers? Read Now to Find Out!

2014 represented the 50^th anniversary of silver’s removal from general-circulation coinage. With the exception of half dollars, coins entering general circulation began to be fully stripped of silver in 1965. The following article from The American offered a useful overview of U.S. coinage history and the gradual removal of precious metals. It also noted the marketplace confusion that remained over which coins held silver and which did not. This article set out to address that misunderstanding by identifying clinkers, meaning valuable coins; clunkers, meaning face-value coins; and several coins that fall between those groups. When the article was originally published, this information was intended to help readers when the time came to sell your silver coins.

Clinkers

Before continuing, Atlanta Gold & Coin defined the term “clinkers.” Clinkers are coins that give off a high, ringing sound when dropped, a characteristic that can help identify silver coins quickly. This is not a precise test, but coins with greater silver content generally produce a higher-pitched ring that lasts longer. The following was the list of the most common “clinkers” Atlanta Gold & Coin reported seeing in its ordinary day-to-day dealings at the time of publication:

1. American Silver Eagles – American Silver Eagles are the official one-ounce bullion coins of the United States and contain exactly one troy ounce of .999 fine silver. The U.S. Mint stamped the coin’s purity and weight on its reverse, helping remove uncertainty about those two features. Because these are bullion coins, their value was primarily tied to the spot price of silver in the commodities market. At the time of publication, readers could find that current spot price by viewing this link.
2. Morgan & Peace Silver Dollars – Morgan and Peace dollars are U.S. silver dollars minted in 1935 and earlier. Morgan silver dollars took their name from designer George T. Morgan and were produced from 1878 – 1921. Peace silver dollars, produced from 1921 – 1935, commemorated the United States’ World War I victory. The letter “V” within “TRVST” is intentional rather than an error, symbolizing that wartime victory. Although they contain only 90% silver and .774 troy ounces of silver, Morgan and Peace dollars also carry collectible, or numismatic, value. Their worth is therefore partly influenced by collector demand. At the time of publication, Atlanta Gold & Coin recommended not selling these dollars below their silver-content value unless they were exceptionally worn or damaged.
3. 90% Silver Coins – Dimes, quarters, and half dollars minted in 1964 consist of 90% silver content and are often called “junk silver coins.” Although that label can sound as if the coins lack value, it does not mean that. It indicates that silver content, rather than collector interest, primarily determines their value. Put another way, these coins usually have little or no numismatic value. While every denomination qualifies as junk silver, 90% half dollars tended to sell at a somewhat higher rate than comparable dimes and quarters when this article was originally published.

Clink & Clunk

For this article, “Clink & Clunk” described coins with a substantial clad component. In other words, they contain some silver but also include a significant amount of nickel and copper. Their surface appearance makes them harder to recognize, and they generally do not respond strongly to the “drop test,” because their ring is quieter and does not last as long. The article identified the two coins below as fitting the “Clink & Clink” definition:

1. 40% Silver Half Dollars – As noted at the beginning of the article, all general-circulation coins except half dollars were debased of silver in 1965. Many people may not realize that Kennedy half dollars minted from 1965 – 1970 contain 40% silver. Compared with their 90% silver counterparts, demand was relatively limited, but at publication these coins still traded for multiples of face value, changing with the current commodities-market price of silver. Because many people did not know they contained silver, they could occasionally still be found in circulation. The original article stated that Brink’s contacts could confirm this.
2. Silver War Nickels – Another coin within the “Clink & Clunk” category is the silver war nickel. Produced from 1942 – 1945, these are the only nickels with silver content. In 1942, their composition changed from nickel copper to 35% silver because copper was needed for World War II ammunition. A frequent misunderstanding is that every nickel dated 1942 – 1945 contains 35% silver. That is true for nickels minted from 1943 – 1945, but only 1942 nickels displaying a “mint mark” above Monticello on the reverse contain silver.

Clunkers

Clunkers are coins without silver content that make a “thud” sound when dropped. They are worth only face value, have no collectible value, and can be spent on everyday purchases. At the time of publication, Atlanta Gold & Coin frequently received calls from people interested in selling clunkers. The article therefore used this opportunity to identify the common clunkers that people often believed contained silver or collectible value.

1. Eisenhower Silver Dollars – Eisenhower dollars were minted by the Philadelphia, Denver, and San Francisco Mints from 1971 – 1978. Because they were rarely encountered in circulation at the time of publication, people commonly assumed they were valuable. Usually, that was not so: all Eisenhower dollars were made of nickel and copper except those struck at San Francisco from 1971 – 1976. San Francisco Eisenhower dollars were packaged in blue envelopes, red envelopes, and brown boxes, which meant they appeared in circulation even less often than Denver and Philadelphia examples.
2. Susan B. Anthony Dollars – At the time of publication, Susan B. Anthony dollars, like Eisenhower dollars, were seldom seen in circulation and were often mistaken for silver or valuable coins. No Susan B. Anthony dollar contained silver. Proof versions, however, were harder to find and generally sold for a premium. Unless a coin was a proof version or carried a mint error or variety design, it was simply a one-dollar coin.
3. U.S. Bicentennial Coins – The 200 anniversary of the United States was marked through bicentennial dimes, quarters, half dollars, and silver dollars. Except for special commemorative sets, these coins are “clunkers,” and were worth only their face value. At the time of publication, many customers were disappointed to learn that the hundreds of dollars in bicentennial coins their parents or grandparents had saved were worth only face value.

Atlanta Gold & Coin hoped this article clarified which coins were considered clinkers or clunkers and which contained silver or collectible value. Not every coin listed above necessarily carried the same value. Relevant considerations included the number minted, where a coin was made, and its condition. When the article was originally published, readers were encouraged to speak with a reputable, knowledgeable coin dealer to seek the full value of their silver coins.