History of Silver in the United States
Silver was part of US money from the Mint Act of 1792 until 1964. The Comstock Lode made Nevada a silver state, and fights over silver shaped politics from the "Crime of '73" to the 1896 election. Coins dated 1964 or earlier are still bought for their silver today.
Facts checked 26 October 2026
Timeline: silver in the United States
- 1792Silver dollars authorized
April 2, 1792. The Mint Act set up the US Mint and authorized silver coins alongside gold and copper.
- 1859Comstock Lode
The discovery of the Comstock Lode in what became Nevada started a huge silver boom. Nevada became a state on October 31, 1864.
- 1863Carson City Mint
March 3, 1863. Congress set up a branch mint at Carson City, Nevada, near the Comstock silver mines.
- 1873The 'Crime of '73'
February 12, 1873. The Coinage Act of 1873 dropped the standard silver dollar and ended silver as a monetary standard. Silver supporters called it the 'Crime of '73'.
- 1878Bland-Allison Act
This law brought back the silver dollar and made the Treasury buy $2 million to $4 million of silver every month to coin into dollars.
- 1890Sherman Silver Purchase Act
July 14, 1890. Congress raised the government's monthly silver purchases by half, after pressure from Western senators.
- 1893Silver purchases repealed
October 30, 1893. After the Panic of 1893, the Senate voted to repeal the Sherman Silver Purchase Act, ending a 46-day filibuster by Western senators.
- 1896Free silver election
The Democrats made unlimited silver coinage their main promise and nominated William Jennings Bryan, but the Republicans won. In 1900 gold became the sole standard.
- 1965Silver leaves US coins
July 23, 1965. President Johnson approved the Coinage Act of 1965, which took silver out of circulating dimes, quarters and half dollars.
- 1980Hunt brothers and Silver Thursday
March 27, 1980. After the Hunt brothers tried to corner the market, silver peaked at $49.45 an ounce on January 17, 1980. On March 27 it collapsed to $10.80, and the Hunts lost about $1.7 billion.
- 1986American Silver Eagle
October 29, 1986. Treasury Secretary James Baker struck the first one-dollar American Eagle silver bullion coin.
FAQ
When did the US stop making silver coins?
The Coinage Act of 1965, approved by President Johnson on July 23, 1965, took silver out of circulating dimes and quarters and cut half dollars to 40% silver. Dimes, quarters and halves dated 1964 or earlier are 90% silver.
What was the "Crime of '73"?
The Coinage Act of 1873, which dropped the standard silver dollar and ended silver as a monetary standard in the US. Silver supporters gave it that name.
What happened on Silver Thursday?
After the Hunt brothers tried to corner the market, silver peaked at $49.45 an ounce on January 17, 1980, then collapsed to $10.80 on March 27, 1980, "Silver Thursday"; the Hunts lost about $1.7 billion.
Sources (9)
- Historical Timeline of the US Mint - United States Mint
- States in the Senate: Nevada timeline - U.S. Senate
- Free Silver Movement - Britannica
- Silver Thursday - Britannica
- American Eagle Coin Program - United States Mint
- Status Report of U.S. Government Gold Reserve, report as of October 31, 2020 - Bureau of the Fiscal Service
- Mineral Commodity Summaries 2026: Gold - USGS
- Statement on the Approval of Spot Bitcoin Exchange-Traded Products - Chair Gary Gensler, SEC
- Fact Sheet: President Donald J. Trump Establishes the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile - The White House
History compiled from the sources listed, which we opened and checked in October 2026. Dates follow those sources; where they differ, we say so or leave the detail out.
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@misc{corgano2026historyofsilverin, author = {{Corgano}}, title = {History of Silver in the United States}, howpublished = {\url{https://silverprice.corgano.com/silver-history/united-states}}, year = {2026}, note = {Corgano Silver Price, accessed 2026-10-26}}