United States quarters minted prior to 1964 contained 90% silver and 10% copper. The remaining 10% consisted of copper, added to increase the coin’s durability. This composition gave these coins a significantly higher intrinsic value compared to their face value, especially as the price of silver fluctuated.
The silver content made these older quarters a tangible store of value. The Coinage Act of 1965 eliminated silver from circulating dimes and quarters due to rising silver prices and the resulting coin shortages. The previous composition is significant historically because it reflects a time when circulating currency held a direct relationship to precious metals.