There were no US silver dollars struck in 1970. Silver was removed from all circulating US coinage in 1965 and the Eisenhower dollar (which contained no silver but was the same size as the old silver dollars) wasn't first struck until 1971.
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Yes the coin is 40% silver.
Kennedy half dollar coins dated 1965 through 1970 weigh 11.5 grams and are 40% silver - they thus contain 0.1479 troy ounces of silver.
The 1964 Kennedy half dollar, which is 90% silver, contains 0.3617 troy ounces of silver. The 1965-1970 Kennedy half dollars (as well as some 1976 coins issued for collectors), which are only 40% silver, contain 0.1479 troy ounces of silver. The silver proof Kennedy half dollars produced for collectors since 1992 are, like the 1964 coins, 90% silver and contain 0.3617 troy ounces of silver.
Those minted in 1964 are 90% pure silver. Those from 1965 to 1970 have a core made of 80% copper and 20% silver, with outer layers that have the opposite percentages for an overall content of 40% silver. All minted after 1970 (except those included in silver proof sets) are copper-nickel and contain no silver. US Mint "Prestige" proof sets include 90% silver Kennedy Halves, although all others versions of the coin including standard proofs are made of copper-nickel.
The United States did not produce quarters from silver in 1970, only ones from an alloy of copper and nickel.