United States quarters minted in 1964 and earlier years were composed of 90% silver and 10% copper. This composition gave these coins a significant intrinsic value based on the silver content. The value of silver fluctuated, but the presence of silver in pre-1965 coinage generally made them more valuable than their face value.
The rising cost of silver led the United States government to discontinue the use of silver in circulating coinage in 1965. This decision was driven by economic pressures and the need to stabilize the nation’s coinage supply. The change impacted not just quarters, but also dimes and half dollars.