Thursday, March 7, 2013

1964 - A turning point for US Silver Coins

Starting in the year 1965, President Lyndon B. Johnson decided to eliminate the production of 90% and higher silver dimes, quarters, half dollars and dollar coins. He decided to update all dimes and quarters to have no silver content, and change dollars to include 80% silver content on the outside of the coins and 19% on the inside of them.  Thereby, 1964 was the last year in a landmark era for US currency.
  
President Johnson did this because silver demand twice outweighed silver production.  This had a profound impact on the history of American currency, and forever altered the fate of Silver in American coins.

No comments:

Post a Comment