
Historically, several denominations of Canadian circulation coins contained silver, with the composition changing over different periods. The practice of using silver in general circulation coinage largely ended by 1968.
Prior to 1920, many Canadian coins, including dimes, quarters, and half dollars, were made from sterling silver, which consists of 92.5% silver content. The small five-cent coin was also made of silver until 1921, initially with 92.5% silver and then changing to 80% silver for its final two years.
From 1920 until 1966, the silver content for dimes, quarters, and half dollars was standardized at 80%. The Canadian silver dollar, which was introduced in 1935, was also produced with 80% silver content during this era. These 80% silver coins are often what collectors and investors refer to as "junk silver."
The years 1967 and 1968 marked a transitional period. In 1967, the composition of silver coins began to change, with some dimes, quarters, half dollars, and dollars being struck in 80% silver while others were reduced to 50% silver. By 1968, the silver content for dimes and quarters was further reduced to 50% for a portion of the year before Canada ceased using silver in its circulating coinage altogether, switching to nickel. After this point, silver was reserved for commemorative and non-circulating tender coins.


