How to find silver coins

(This Idea is for U.S. Citizens, but your country may have something similar as many have had silver currencies at one point or another)

There was a time when I knew nothing about coins except that it was annoying to have them jingling in your pocket; now I look forward to getting change because of the chance I'll find silver coins. Let's go over some brief history before I tell go over how to find them, and where to look for them.

Silver Currency in the U.S.

Prior to 1964 all quarters and dimes were made of 90% silver. Yes, you read that right. Our money was made of mostly silver because our money had real value at the time. A quarter back then bought a whole lot more than a quarter buys now. For example, a box of cheerios in 1960 cost a quarter, where as now the same size box is nearing $4.

During World War 2 the U.S. government identified nickel as a "strategic metal", needing it more and more in the war effort. They created a new nickel that was made of 35% silver, 56% copper, and 9% manganese. They were minted from 1942-1945.

How to identify silver coins

Quarters and dimes before 1964 have 90% silver. You can either look at the date, or another faster way to search an entire roll is to open the roll, keeping the quarters/dimes in their stack, and look at the ridged edge of the coin. Quarters and dimes prior to 1964 have a solid colored edge. Post 1964 the edge is a silver color on one side and a copper color on the other.

Nickels don't have this feature, so you are stuck looking at the dates. I have found that silver nickels tarnish differently than the standard ones, so you can do a quick check through the entire roll and look for darker colored nickels, but this method is not 100% accurate.

Where to find them

Unfortunately, many other people know about silver coins. There are not vast numbers of them floating around in circulation - but there are still many, and it is not uncommon to find them with a little searching. If you go to a bank and exchange a $20 for $20 in dimes then you are off to a good start. Ask for some coin rolls to replace the ones you tear up while searching. Take out the ones you want to keep, and replace them with non-silver ones.

Do NOT fall for flea market scams with coins. There is an entire grading system for coins (or numismatics) that provides a standardized value for a very exacting quality of coin. I have seen people get duped into spending $50 on a state quarter with no real value beyond the fact that it's a quarter. There ARE coins with errors, literally called error coins, that come out of the mint damaged. These CAN be worth extra money, but consult either a numismatic website or find a book on the subject.

Many people have a water jug where they keep their spare change. Searching through these is a great way to find silver, and it helps you finally roll up all that money that has just been sitting there for years.

Where to sell

Coin shops will almost always buy silver, just check to make sure that what they are willing to give is fair. www.kitco.com is a great website for finding current up-to-date metal prices. These prices are known as "Spot Price", and a coin shop will pay you less than this number. Most won't haggle or budge on their price, but be assertive and ask if they can give a little more. If not, then decide whether selling it is worth it to you or wait until silver spot values rise.

I hope this has peaked your interest in finding silver coins. Many other countries have had silver coins in circulation, and due to our proximity to Canada I have even found some of their old silver coins in circulation here, though it is rare. If you live in another country then look up the history of your coinage; you may be surprised what you find.