A coin minted in 1964 and composed of 90% silver has an intrinsic value exceeding its face value. This increased valuation stems from the precious metal content, the price of which fluctuates based on market conditions.
The historical significance of these coins lies in their composition. Prior to 1965, United States quarters were made of silver. The Coinage Act of 1965 removed silver from circulating coinage, making these older, silver-containing coins desirable to collectors and investors due to their precious metal content and historical value. Economic factors and the spot price of silver significantly influence the value of these coins.