I used to go to the bank daily where the tellers were not allowed to swap silver coins that came in. Unfortunately it seems that the only time silver coins would show up was when some kid broke into their parent's stash of 90% and spent it. Other than that, I used to get a lot of 40% halves. But I'd have to buy $500 dollars worth of halves at a time and sort them out at home, then give them to the toll collectors as I went back and forth through NYC to JFK airport.
Canada was .800 fine silver from 1967 back and .500 silver in some of the 1968. I assume your 1977 was just a finger flub. regards, Harley Bissell
My daughter was a cashier at a small town (5000 population) McDonalds. She hauled home the silver coins and I would pay her melt for them. She was averaging two or more per week and more quarters than dimes. This was in Indiana. She has now moved to a larger store in Washington state as a manager and has been there two years. She says that she has seen NO silver coins since she left. Perhaps a person could make a deal to buy all the excess coins from McDonalds and other fast food restaurants and do well. Keep in mind that on Sundays they are frequently begging for fives and ones so that might increase your chances of making a swap. good luck
I haven't seen one in change in years (maybe because I wasn't looking, but I kind of doubt I've gotten one). When I was younger I would sometimes go to the bank and ask to look through the trays of half dollars, and I remember once finding one 90% and a few 40%'s. There was also a time that the guy was emptying the Coinstar machine and as I walked by I happened to notice a silver Canadian quarter in the tray, I asked if I could replace it with an American quarter and he said yes.
I got 1 in $1000 worth of quarters. So that's 1 in 4000 or .00025% 25/100,000. In the coin star I must have gotten 5 or 6 in the last few years. Much better %. And a 1972-S.
I've only ever personally found 2 in the wild... both in (or in the vicinity of) CoinStar reject trays. Never stumbled upon one in pocket change. This was the most recent, found this past November (1964P), also found a 60D probably about 2 yrs back.
While I like the train of thought, truthfully there is a better use of your time given the rarity of these in circulation. You might have to pay close to melt for them, but the melt value of a dime or a quarter is nominal compared to the value of your time. Most local coin stores will sell them to you for some percent over melt and you save a lot of time to study and collect.
My point exactly. That was 40/50 years ago and times (and coins) have changed. Time to move on and if you find something in change great, but don't think it is a ready source of silver coins.
In the late 70's and 80's we weren't getting silver quarters in circulation. Even in the late 60's we weren't getting silver quarters in circulation. Once in a while a 1960's Rosie. But silver was so low then, there wasn't that much of a premium. Silver was less than $2 an ounce at $1.90 there was just under 14 cents of silver in a dime. And I don't think they were buying them for melt then.
The Quarter Dollar has been the workhorse of the American coinage since the 1960s. Since so many circulate and are used in commerce, the vast majority of the silver have been culled out, whereas the silver dimes and halves aren't used as much. Your best bet to find one in circulation these days is unfortunately when someone either steals (or otherwise acquires) silver coinage without knowing what it is and spends them. Even then they are usually culled before they get to the bank.
When silver hit highs (1979/1980, 2010?) I think many coins were melted since the melt value was higher than the numismatic value. Even "good" coins were melted. Making the remaining silver population much less.
Excellent point and continues to plague the hobby today. Morgan dollars have suffered greatly from some undetermined number of melts.
A couple of years ago I received a silver quarter in change. The ping it made when the cashier handed me change was a dead giveaway. That sure made my day.
IMHO the biggest misconception about silver coins is the number melted. Dealers often refer to the melt value of 90% coins and trade them based on the melt value, but rarely anymore are they actually melted. They just shuffle from place to place in bags as they are readily recognizable and don't require assay. They are a known commodity as they are and as such continue to trade between dealers in their original form