We present a study of the frictional properties of microscopic contacts (radius ~ 1 µm) in the high-speed regime (> 1 m/s). Energy dissipation and lateral stiffness of the contact are measured with a transverse-shear quartz resonator in contact with a spherical probe. A transition from partial to full slip is observed at a critical amplitude of motion. Elastic and dissipated forces (identified with static and kinetic friction) are quantified and interpreted without the need for complex calibration procedures or detailed models of the interaction. Kinetic friction is observed to be independent of sliding speed. Measurements of the lateral stiffness at very low oscillation amplitudes allow evaluation of the contact area. For an interface subject to boundary lubrication, we find that friction increases sub-linearly with applied load, in direct proportion to contact area. We determine the corresponding interfacial shear strengths. Results from the technique demonstrated here may find application in contexts where high sliding speeds are routinely accessed, such as microelectromechanical systems (MEMS) and simulations of friction using molecular dynamics.