A guide to silver coins minted and circulated worldwide during the 19th and 20th Centuries
The use of silver for coinage has a long history. Silver coins were in circulations throughout the world during the 19th and 20th centuries and provided a reliable store of value.
During those eras, silver was more plentiful and widely mined than gold, making it a practical choice for producing large quantities of coins needed for circulation.
The World Silver Melt Guide tracks the melt values of junk silver coins from countries around the world.
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Silver has been a monetary metals used as a medium of exchange for thousands of years due to its intrinsic value, durability, and divisibility.
The Lydians, who occupied the area around modern-day Turkey around 600 BCE, are credited with inventing coinage, and the earliest coins were made from electrum, a naturally occurring alloy of gold and silver.The use of silver as coins is believed to have begun in the ancient kingdom of Lydia.
Under King Croesus (reigned c. 595-546 BCE), Lydia began to issue separate gold and silver coins, which became widely recognized and used for trade.
The concept of coinage spread from Lydia to Greece, where the use of silver coins became widespread. Greek city-states, such as Athens, Corinth, and Aegina, minted their own silver coins.
One of the most famous silver coins from this period is the Athenian tetradrachm, which featured the goddess Athena on the obverse and an owl on the reverse. These coins became a standard in the Mediterranean world due to their consistent weight and purity.
The Romans adopted and further developed the use of silver coinage. The silver denarius, first minted around 211 BCE, became the backbone of the Roman monetary system. It featured various designs, including images of Roman deities and emperors.
Following the spread of Islam in the 7th century, the Islamic Caliphates introduced their own silver coinage, known as the dirham. These coins often featured Arabic inscriptions and Islamic motifs.
The dirham became a key currency in the Islamic world, facilitating trade from Spain and North Africa to the Middle East and Central Asia.
During the medieval period, European kingdoms and states issued their own silver coins. Notable examples include the English penny, the French denier, and the German mark.
The use of silver coins was crucial for economic growth and the development of trade networks in medieval Europe.
The Renaissance period saw the introduction of larger and more valuable silver coins, such as the Spanish real, the Dutch guilder, and the Venetian grosso. These coins were used in international trade and became widely recognized for their reliability and value.
During the colonial period, European powers introduced their currencies to their colonies.
Explorers discovered large deposits of silver in Bolivia during the 16th Century.
This resulted in an international silver standard based on the Spanish Real. The Spanish Real was also known as "Pieces of Eight.
The Spanish dollar became a dominant global currency due to Spain's extensive silver mines in the Americas.
The widespread circulation of the Spanish dollar facilitated global trade, and it was even accepted in the early United States.
As nations moved towards modern economic systems, the use of silver coins continued. However, the gold standard became more prevalent, and the reliance on silver decreased.
The silver standard began losing popularity throughout the 18th and 19th centuries.
By the late 19th century, many countries began to demonetize silver, moving towards paper money and base metal coins for everyday transactions.
Notable events include the Coinage Act of 1873 in the United States, which effectively ended the minting of silver dollars.
Beginning in 1965, the US Mint began replacing silver coins with those made from clad base metals.
While their use has diminished with the advent of modern banking and fiat currencies, silver coins remain an important part of our numismatic heritage and continue to be valued by collectors and investors alike.
Silver coins that have no collector value are often referred to as Junk Silver. Junk Silver is a popular investment. Many people looking to hedge against currency inflation buy junk silver as a store of value in precious metals.
The value of junk silver is based on the weight and purity of the silver in each coin.
This guide is the World Silver Melt Guide. We explore how each country around the world used silver as coinage. We track the value of each countries' junk silver.
