A complete table of actual silver weight (ASW) for Morgan and Peace dollars, halves, quarters, dimes and war nickels, with how to calculate melt value and why it is not the same as market value.
Short answer: a Morgan dollar contains 0.7734 troy ounces of pure silver (26.73 g at 90% silver). The same figure applies to Peace dollars. Across all US 90% silver coins, every $1 of face value holds about 0.7234 troy ounces of silver, which is why dealers price "junk silver" by face value. To find melt value, multiply the silver content by the current spot price.
The figure that matters is the actual silver weight (ASW), the pure silver in the coin. The table below lists common coins.
| Coin | Years | Silver | Weight (g) | Pure silver (troy oz) |
|---|---|---|---|---|
| Morgan dollar | 1878–1904, 1921 | 90% | 26.73 | 0.7734 |
| Peace dollar | 1921–1935 | 90% | 26.73 | 0.7734 |
| Walking Liberty half | 1916–1947 | 90% | 12.50 | 0.3617 |
| Franklin half | 1948–1963 | 90% | 12.50 | 0.3617 |
| Kennedy half | 1964 | 90% | 12.50 | 0.3617 |
| Kennedy half | 1965–1970 | 40% | 11.50 | 0.1479 |
| Eisenhower dollar (collector issues) | 1971–1976 | 40% | 24.59 | 0.3161 |
| Washington quarter | 1932–1964 | 90% | 6.25 | 0.1808 |
| Roosevelt dime | 1946–1964 | 90% | 2.50 | 0.0723 |
| Mercury (Winged Liberty) dime | 1916–1945 | 90% | 2.50 | 0.0723 |
| Jefferson war nickel | 1942–1945 | 35% | 5.00 | 0.0563 |
Older designs such as Barber and Seated Liberty coins are also 90% silver and carry the same content per denomination. The junk silver calculator and the purity tables do the arithmetic for you.
The formula is pure silver ounces × spot price. Because the silver content is fixed, you can also think in face value.
| Example | Silver content | At an illustrative $40/oz spot |
|---|---|---|
| 1 Morgan dollar | 0.7734 oz | $30.94 |
| $1 face of 90% coins | 0.7234 oz | $28.94 |
| $10 face of 90% coins | 7.234 oz | $289.36 |
| $1,000 face bag | 723.4 oz | $28,936 |
These prices are examples, not quotes. Use today's spot price in the silver melt value calculator.
See melt value versus market price and how to value junk silver by face value.
Be careful with fakes. See how to test silver at home.
If you hold bags or rolls, record them by face value and silver content, so your ounces and cost per ounce are right. BullionKeeper values them at the live silver price. See starting a silver stack on a small budget for ideas.
A Morgan silver dollar contains 0.7734 troy ounces of pure silver. It weighs 26.73 grams and is 90% silver and 10% copper. The Peace dollar has the same content.
A Washington quarter minted in 1964 or earlier is 90% silver and contains about 0.1808 troy ounces of silver. A dime of the same era contains about 0.0723 troy ounces and a half dollar about 0.3617 troy ounces.
The 1964 Kennedy half dollar is 90% silver. From 1965 to 1970 it was 40% silver, with about 0.1479 troy ounces of silver. After 1970, circulating Kennedy halves have no silver.
Jefferson nickels dated 1942 to 1945 are 35% silver and contain about 0.0563 troy ounces of silver. They carry a large mint mark above the dome of Monticello on the reverse.
No. Melt value is the metal content at the spot price. Dealers usually pay slightly below or around melt for common junk silver, and more for scarce dates and higher-grade coins that collectors want.
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