Oh, well that's never wrong. This is from the New York Times, September 6, 1964 THE latest news from Washington is that the bill authorizing the Treasury Department to “freeze” the 1964 date on coins will be signed by President Johnson. The measure did not reach the President's desk until late last week. Enactment of the law still leaves uncertainties, principally because of its wording. The law orders retention of the 1964 date until the Secretary of the Treasury determines that “adequate supplies of coins are available.” Thus, the law will have no practical effect if Secretary Dillon decides that the Treasury's “crash” mintage‐acceleration program has relieved the national coin shortage by the end of this year. The Mints then will be able to follow normal procedure on Jan. 1 and place the 1965 date on coins. If the shortage continues into 1965, thus requiring retention of the 1964 date, but is relieved before July 1, Secretary Dillon can order the Mints to start putting 1965 on the coins for the last half of the year. To many observers, it seems inconceivable that he would take this step, for the Mints would be hard pressed to produce in only six months enough 1965 coins to avoid a short issue in one or more of the five coin denominations — and short issues are “meat” for coin‐hoarding speculators. Still officially unanswered, too, is the question of the date to be borne by the pending new issue of 45 million silver dollars. Friday is the opening day of the three‐day semi‐annual convention of the Empire State Numismatic Association in Saratoga Springs. On Saturday, the Long Island Coin Show will be held in the Roosevelt Field Shopping Center in Garden City, the Paterson Coin Convention will be staged in the Bergen Mall Center auditorium on Route 4 in Paramus, N. J., and the Bay Shore‐Brightwaters branch of the South Shore Coin Club (Box 59, East Islip, L. I.) will sponsor a coin show in Memorial Auditorium in Bay Shore. A version of this archives appears in print on September 6, 1964, on Page X24 of the New York edition with the headline: NEWS OF COINS; President Gets the Bill To Freeze 1964 Date
In order to stop people from hoarding coins, (they seem to like the ones with mint marks) they took the mint marks off of all coins in 1965 1966 and 1967. While still produced at all 3 mints, there's no real way to tell which mint a coin came from. No proofs those years. 1968 they put the mint marks back. And then they started making proofs in San Fran instead of Philly.
According to the Coin World Almanac 8th Edition pg 480 - “... to discourage hoarding it (public law 89-81 - The Coinage Act of 1965) stipulated that any .900 fine coins minted after the law’s enactment would be inscribed with the date 1964.”
The coinage act wasn’t passed till July. What prevented the mint from striking 1965 dated 90% silver coins January-July 1965? It was not the Coinage Act
Glad you asked... https://sdbullion.com/silver-price-by-year https://www.silverinstitute.org/silverprice/1960-1965/ https://www.silverinstitute.org/silverprice/1966-1970/ As soon as silver began to move, people began to hoard it. That said, as I recall, even into 1972, the margin over spot was only about 10%. (It fell after peaking in 1968.) But with the general price levels being what they were - gasoline at 29 cents per gallon - it was worth it to many people to get change from the bank, sort the silver out of it, and then hoard the precious metal or sell it.
@mikenoodle yes there was. @jorglueke is correct. In general, EVERYONE, PLEASE stop citing wikipedia like it's holy writ. At least go one more step and check the original documents... https://www.govinfo.gov/content/pkg/STATUTE-79/pdf/STATUTE-79-Pg254.pdf ... and Flipping to Public Law 88-580... https://www.govinfo.gov/content/pkg/STATUTE-78/pdf/STATUTE-78-Pg908.pdf
Back to the coinage act of 1965... note the "SHALL" (This is a floor price) ASW of a silver quarter is 0.1808 troy ounces, so there was about $0.226 worth of silver in a quarter - or more based on market prices...
That would be the floor price value, but the free market price was already above that. The average for 1965 was 1.29 which was also the break even point where the silver value in the dimes and quarters equaled their face value but there were also times inb the year when the market price rose higher than that. I have seen one refernce to the market price of silver briefly hitting as high as $1.70 on oz in July of 1965. At that point the silver in a dime would have been worth 13 cents. As for the date freeze both are correct. The Sept 1963 legislation froze the 1964 date for ALL coins, while the Coinage act of 1965 froze the 1964 date only on 90% silver coins struck after that point.
Hold on a second! That’s really rude. I quoted Wikipedia as a simple, easy to reference source. I then quoted the Coin World Almanac when you questioned the Wikipedia article (even though it WAS correct). We share info here. We argue and correct each other in the hopes of providing the actual truth to people going forward. Have I posted incorrect information in the past? At times, yes. Did I nail down what jorgleuke wanted, no, but what I posted was true AND correct. I will put my body of work up for review if anyone wants to fact-check me. We all hope to educate and provide good research, there’s no need to call anyone stupid just because you disagree.
The mint struck 1964 Kennedy halves until early 1966 at the San Francisco Mint. Please correct me if I'm wrong.
Switch to decaf... I was calling Wikpedia stupid not an individual. We pride ourselves here at being better than Wikipedia and better than YouTube. The problem is referencing YouTube video or a Wikipedia article without doing the critical thinking to say is the article or the video correct. If you do the critical research and find the primary source then quote it, not the cliff notes.
That would be incorrect. The 1964 dated coins were struck at Philadelphia and Denver well into 1966 (May IIRC)
No need to get bent out of shape. I asked because I had always assumed the Coinage Act laid out the changes starting from 1965 on. It does but when I saw that it didn't pass until July 1965 well that leaves a gap of seven months where the mint surely couldn't have just kept minting 1964 coins in 1965 without authorization. Then indeed there was an earlier law for this. Now, was there a third law allowing for mint marks to be returned in 1968 or was that at the discretion of the Treasury once they were sure no hoarding was being done of the new clad pieces?
PL 88-580 didn't suspend mint marks either. That was part of PL 89-81 the 1965 coinage act... The trick to figure out the question @jorglueke asked is to trace the renumbering of the law from 1965 to today's 31 U.S. Code § 5112. There are tables in the Cornell site: https://www.law.cornell.edu/uscode/text/31/5112 that do some of the tracing.
Maybe I missed seeing it but are there any 1965 dated dimes, quarters, halves minted in 90% silver, by error ? There had to have been a few silver planchets that got mixed in with the clad.