The composition of United States coinage underwent significant changes in the mid-1960s. Prior to this period, circulating silver coins were a common feature of American currency. A specific denomination issued during this era, but after the transition away from a silver standard for that denomination, contains no silver.
The elimination of precious metal from this particular coin was driven by a confluence of factors, including rising silver prices and increasing demand for coinage. The intrinsic value of silver-containing coins began to exceed their face value, leading to widespread hoarding and coin shortages. The change in composition addressed these economic pressures.
