The United States operated on the gold standard for much of its history, where the value of the U.S. dollar was tied to gold reserves. This system ended in 1971 when President Nixon severed the link between the dollar and gold, transitioning to fiat currency. The John F. Kennedy silver half dollar, introduced in 1964, symbolized this shift. Initially containing 90% silver, its silver content gradually decreased until the coins were made entirely of base metal by 1970, marking the end of precious metal-backed currency in U.S. coinage.
