One thing that took me a long time to realize is what is common knowledge to one person can be mind blowing to another. Today’s topic is one I feel fits that description perfectly. You would be surprised how much monetary value there is in your spare change if you pay attention.

For example, did you know any American pre-1964 dime, quarter, half dollar, or dollar coin is 90% silver? The other 10% was made of a mix of copper, nickel, and/or zinc to strengthen the coin and make it durable to withstand circulation through time. After 1964, the US Mint switched to using larger combinations of cheaper metals to create coins. If you’re wondering about nickels, they are made of a copper and nickel combination; however, there is a small exception to this. Nickels minted between 1942 and 1945 actually do contain silver, 35% to be exact. The silver was used to save nickel metal for the war effort – but the value of these nickels are small potatoes compared to the other coins.

The key thing to remember here is “pre-1964” and “dimes, quarters, half dollars, and dollar coins”. If you can remember those two basic guidelines, you’ll be surprised how much money you can save in a year. While the value of silver is always changing, it does always hold value!

Here is a basic breakdown using simple numbers, just to give you an idea of a silver coin’s worth. Excluding the factors of rare dates, errors etc., let’s analyze your standard 1960 Washington quarter:

In the last few months, the value of pure silver per ounce has averaged $24.00 per troy ounce. This is the top peak value where it trades as a commodity at refineries, ETFs, etc. As an individual it is impossible to achieve 100% value; if you get between 80% and 88% you are doing good. At $24.00 per troy ounce, that means one ounce of 90%-coin silver is worth $21.60. Your standard 1960 Washington quarter weighs roughly 6.25 grams (there are 31 grams in a troy ounce). So, at $21.60 per 31 grams, a standard silver quarter is worth roughly $4.35 per 25-cents face value, $17.40 per dollar! You can do this math for every denomination – the point is it’s a lot of money!

If you didn’t know this before now, I bet within a month you’ll find a silver coin in your change. So, the next time you are grabbing a coffee or getting change at a restaurant always make sure to double check – You never know when you’ll find it!