Constitutional Silver Guide: 90% Junk Silver Coins Explained (2026)

What is Constitutional Silver?

"Constitutional silver" refers to US coins minted before 1965 that contain 90% silver and 10% copper. The term comes from Article I, Section 10 of the US Constitution, which originally defined lawful money as gold and silver coin.

It's also called "junk silver"—not because it's worthless, but because these coins have no numismatic (collector) value beyond their silver content. They're valued purely for the silver they contain.

Types of Constitutional Silver Coins

Coin Type	Years	Silver Content	Per Coin (oz)
Roosevelt Dime	1946-1964	90%	0.0715 oz
Mercury Dime	1916-1945	90%	0.0715 oz
Washington Quarter	1932-1964	90%	0.1788 oz
Standing Liberty Quarter	1916-1930	90%	0.1788 oz
Kennedy Half Dollar	1964	90%	0.3575 oz
Walking Liberty Half	1916-1947	90%	0.3575 oz
Franklin Half Dollar	1948-1963	90%	0.3575 oz
Morgan Dollar	1878-1921	90%	0.7734 oz
Peace Dollar	1921-1935	90%	0.7734 oz

Note on Kennedy Halves (1965-1970)

Kennedy half dollars from 1965-1970 contain only 40% silver, not 90%. These are sometimes called "40% silver" or "clad silver" and trade at different premiums. From 1971 onward, Kennedy halves contain no silver (except special mint issues).

Silver Content Calculations

Constitutional silver is priced by "face value" - the total value printed on the coins. Here's how to calculate the silver content:

The Formula

$1 face value = 0.715 oz silver

This means $100 face value of 90% silver coins contains approximately 71.5 troy ounces of silver.

Quick Reference:

$1.40 face value (14 dimes or 5.6 quarters) = 1 oz silver
$10 face value = 7.15 oz silver
$100 face value = 71.5 oz silver
$1,000 face value (standard bag) = 715 oz silver

Why Stackers Love Constitutional Silver

Advantages

Instantly recognizable - Everyone knows what a quarter is
Highly divisible - Small denominations for barter
Hard to counterfeit - Weight, sound, and design are familiar
Lower premiums - Cheaper per oz than Eagles
Historical value - Connection to sound money era

Disadvantages

NOT IRA eligible - Only .999 silver qualifies
Variable condition - Wear affects weight
Bulky storage - More space per oz vs bars
Selling complexity - Need to count/weigh
Premium volatility - Swings with demand

IRA Warning: NOT Eligible

Constitutional silver (90% coins) does NOT qualify for Precious Metals IRAs. The IRS requires .999 fine silver (99.9% purity). If you want silver in your IRA, consider American Silver Eagles, Canadian Maple Leafs, or .999 silver bars.

How to Buy Constitutional Silver

Constitutional silver is sold by "face value" - the amount printed on the coins. The price is expressed as a multiple of face value or as a price per $1 face.

Purchase Size	Silver Content	Typical Cost*
$10 Face Value	7.15 oz	$180-200
$100 Face Value	71.5 oz	$1,800-2,000
$500 Face (Half Bag)	357.5 oz	$8,900-9,500
$1,000 Face (Full Bag)	715 oz	$17,500-19,000

*Prices at approximately $25/oz spot. Premiums vary by market conditions and coin type.

Where to Buy

SD Bullion - Often best prices on bags
JM Bullion - Wide selection by type
APMEX - Premium selection, specific dates
Local coin shops - Great for small quantities
Estate sales - Sometimes find below market

Best Constitutional Silver for Different Goals

For Pure Value

Roosevelt dimes and Washington quarters offer the best value - common dates with no numismatic premium.

Lowest premiums

For Barter/Prepping

Mix of dimes and quarters. Dimes are most divisible; quarters most recognizable. Skip half dollars for barter.

Most practical

For Collector Appeal

Mercury dimes, Walking Liberty halves, and Morgan dollars. Higher premiums but potential upside if silver rises.

Semi-numismatic

Frequently Asked Questions

What is constitutional silver?

Constitutional silver refers to US coins minted before 1965 that contain 90% silver. This includes dimes, quarters, half dollars, and some dollar coins. The term 'constitutional' refers to the original monetary system established by the US Constitution, which defined money as gold and silver coin.

How much silver is in $1 face value of junk silver?

$1 face value of 90% silver coins (any combination of dimes, quarters, or half dollars) contains approximately 0.715 troy ounces of pure silver. Due to wear on circulated coins, the actual content may be slightly less (around 0.715 oz is the standard calculation).

Is constitutional silver IRA eligible?

No, constitutional (90%) silver is NOT IRA-eligible. The IRS requires silver in IRAs to be .999 fine purity (99.9% pure). Since junk silver is only 90% silver, it does not qualify for precious metals IRAs. For IRA silver, consider American Silver Eagles or .999 fine bars.

Why do preppers and stackers love junk silver?

Constitutional silver is beloved for several reasons: 1) Instant recognizability - everyone knows what a quarter looks like, 2) Divisibility - small denominations for barter, 3) No counterfeiting concerns - US coins are hard to fake, 4) Lower premiums than bullion coins, 5) Historical value beyond silver content.

What's the best constitutional silver to buy?

For pure silver value: Washington quarters and Roosevelt dimes are most common and affordable. For numismatic potential: Mercury dimes and Walking Liberty half dollars have collector appeal. For recognizability: Any 90% coins work well, but quarters are most familiar to Americans.

Constitutional Silver: America's Original Money