Old coins worth money above face value almost always contain silver or gold. U.S. dimes, quarters and half dollars dated 1964 and earlier are 90% silver, and every U.S. gold coin struck for circulation before 1933 is worth far more than its face. On top of metal value, a scarce date, a scarce mint mark or a high grade can lift a coin higher.
Check for silver first
Start with the date. U.S. dimes, quarters and half dollars dated 1964 and earlier are 90% silver, so a coffee can of old change from a parent's dresser has silver value before anyone looks for a rare date. One dollar in face value of these coins, such as ten dimes or four quarters, holds about 0.715 troy ounces of silver.
A few later coins carry less. Kennedy half dollars dated 1965 to 1970 are 40% silver, and war nickels struck from 1942 to 1945 are 35% silver. Dimes, quarters and halves from 1965 on, apart from those halves, are copper-nickel clad with no silver in them.
Silver dollars are the heavy end of the same group. Morgan dollars (1878 to 1904 and 1921) and Peace dollars (1921 to 1935) each weigh 26.73 grams and hold 0.7734 troy ounces of silver, which puts one dollar coin above a full dollar's worth of older dimes.
Bullion silver sits in the same boxes. The American Silver Eagle, made since 1986, holds one troy ounce of .999 silver, and it is priced on that ounce the day you sell.
| Coin | Dates | Silver content |
|---|---|---|
| Dimes, quarters, half dollars | 1964 and earlier | 90% |
| Kennedy half dollars | 1965 to 1970 | 40% |
| War nickels | 1942 to 1945 | 35% |
| Morgan dollars | 1878 to 1904, 1921 | 90%, 0.7734 troy oz |
| Peace dollars | 1921 to 1935 | 90%, 0.7734 troy oz |
| Dimes, quarters, halves | 1965 and later (except 1965 to 1970 halves) | None, copper-nickel clad |
Gold coins are always worth more than face
The United States struck gold coins for circulation until 1933, in $20, $10, $5, $3, $2.50 and $1 sizes. Classic U.S. gold is 90% gold, and a $20 double eagle holds 0.9675 troy ounces, so even a worn one is priced on nearly an ounce of gold. Families who have kept the same house and the same bank box for decades often find a few of these with a parent's papers.
Modern gold counts as well. The American Gold Eagle has been made since 1986; the one ounce coin is 22K, weighs 33.93 grams and holds one troy ounce of gold, and it also comes in 1/2, 1/4 and 1/10 ounce sizes. Krugerrands, Canadian Maple Leafs, Gold Buffaloes and Mexican 50 pesos are priced on their gold content the same way, with offers that follow the live spot price.
Small gold is easy to miss. A $1 gold piece or a $2.50 quarter eagle can hide among the cents in a jar, so pull out any yellow coin, keep it apart, and leave it unwashed until it has been checked.
Dates and mint marks
Two coins of the same design can be worth very different amounts because of where and when they were struck. The mint mark is a small letter that names the mint, and some letters carry more collector interest than others.
Carson City coins draw steady attention, and CC Morgan dollars run from 1878 to 1893. The 1893-S Morgan is a famous rarity, while the 1921 Morgan is a common date. There has never been a U.S. Mint in Chicago, so no coin carries a Chicago mint mark.
Scarce dates turn up in nearly every series. We check each date and mint mark under a loupe and sort collector coins from melt coins, so a better date is never priced as bullion.
The letters you are most likely to find are listed below. Many modern coins carry a P or a D, and plenty of older ones carry no letter at all.
- No letter or P: Philadelphia
- D: Denver, except on gold struck before the Civil War, where D means Dahlonega
- S: San Francisco
- O: New Orleans
- CC: Carson City, 1870 to 1893
- W: West Point
Condition, grading and cleaning
Grade describes wear and surface quality on the Sheldon scale, which runs from 1 to 70. A coin with sharp detail and original luster can sell for far more than a worn coin of the same date and mint.
PCGS and NGC grade coins and seal them in plastic holders called slabs. If a coin already sits in one of these holders, leave it there, because buyers price the coin on the grade printed on the label.
Please do not clean old coins. Cleaning lowers a coin's grade and value, and collectors pay far less for a cleaned coin even when it looks brighter afterward. Hold loose coins by the edge and set them on a soft cloth.
Proof coins are struck twice on polished dies for collectors. Mint sets hold uncirculated coins. Keep both in their original packaging, and note that silver proof sets from many years hold 90% silver coins, so a set from the 1950s or 1960s carries silver value even before anyone grades it.
Coins with a Chicago story
Three commemorative coins tie straight to Chicago and Illinois, and all three are 90% silver. Dated 1892 and 1893, the Columbian half dollar was the first U.S. commemorative coin and sold for $1 at the 1893 World's Columbian Exposition in Jackson Park. The front shows Columbus, and the back shows the Santa Maria above two hemispheres.
Mintages ran to 950,000 for the 1892 date and about 4 million for 1893. About 2.5 million unsold 1893 coins were melted, and many others were spent at face value, so worn ones are common and sell for a little more than their silver. Coins with sharp detail and original luster bring more.
The 1893 Isabella quarter was requested by the fair's Board of Lady Managers, led by Bertha Palmer, and shows a crowned Queen Isabella of Spain. Only 40,023 were struck, it was made for collectors and never meant to circulate, and it sells well above its silver value in any grade.
The 1918 Illinois Centennial half dollar marks 100 years of statehood. Its young, beardless Lincoln is based on a statue by Andrew O'Connor, and the eagle on the back comes from the Illinois state seal. 100,058 were struck, and it sells to collectors above its silver value, with price following grade.
Coins that are worth face value
Most coins in a jar of change are worth what they say. Clad dimes and quarters from 1965 on, and halves from 1971 on, are face-value coins in nearly every case, and we tell sellers so plainly at the appointment. Checking the date on each coin is the fastest way to sort them.
Wheat cents in circulated grades are another common find, and a worn one is worth only a few cents. A jar of them still gets a look for scarce dates and mint marks, since that check takes only a few minutes.
The 2003 Illinois state quarter shows a young Lincoln, the state outline, a farm scene and the Chicago skyline, with "Land of Lincoln" and "21st State/Century" on the design. Circulated pieces are worth 25 cents. Silver proof versions from collector sets carry silver value, so check whether a 2003 quarter came out of a proof set before you spend it.
Silver certificates found with old change are a similar case. They can be redeemed only at face value today, though large-size notes issued before 1929 and star notes, which are replacement notes, can draw collectors. We point out the face-value coins and notes at the appointment and hand them back, and the written offer lists only the pieces worth more than face.
Old coins in Chicago homes
People who search for old coins buyers near me in Chicago usually start with something they found while clearing out a family home, like a coffee can of change or a few paper rolls. In the brick bungalows of the Northwest and Southwest Sides and in Berwyn and Cicero, built mostly from about 1910 to 1930, many families have lived in the same house for decades. Saved silver change from before 1965 is a common find in those homes, and so are wheat cents by the jar.
We buy coins by private appointment, Monday to Saturday, 10am to 6pm, and we set where to meet when you book. A handful of coins takes about 10 minutes to go through. A full collection from a Lincoln Park graystone or an Evanston family house can take 30 to 60 minutes, and for a larger estate you can ask about a home visit.
Call (773) 241-8624 and we call back the same day. Bring a government-issued photo ID if you plan to sell. You get a free, written, item-by-item offer, and you can accept it and get paid the same day in cash, or by same-day wire for larger sales.
If you decline, you keep your coins and the list. That list helps when siblings or an executor need to split a parent's coins fairly.
Ready to sell? See how we handle selling coins in Chicago, read about a free coin appraisal, or call (773) 241-8624.