1965 Silver Coins

Discussion in 'Coin Chat' started by jorglueke, Jun 8, 2019.

  1. jorglueke

    jorglueke Member

    President Johnson signed the coinage act removing silver from dimes and quarters on July 23, 1965. As late as October 3rd 1964 the US Treasury was denying any imminent change to the coinage. Yet there are no 1965 silver dimes and quarters (or if there are they are rare errors) so the mint must have struck 1964 silver coins well into 1965 with the expectation of an imminent change or am I missing something?
     
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  3. There are plenty of 1964 Silver Dimes and Quarters?
     
  4. jorglueke

    jorglueke Member

    Edited OP
     
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  5. Michael K

    Michael K Well-Known Member

    They were striking 1964 silver dimes and quarters through 1965 and 1966,
    while during those years they were also making clad coins of those dates.
    And yes there are tons of 1964 dimes and quarters. (And nickels.)
     
  6. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    Where are you getting your information?
    64 dimes and quarters are not rare.
    The mint kept making 1964 dimes and quarters well into 1965, and maybe 1966.
    There is much more to the story. I will let others join in as I haven't finished my coffee.
     
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  7. Ah haha never mind then! :)
     
  8. jorglueke

    jorglueke Member

    Who authorized the frozen date? I see it mentioned here https://www.ngccoin.com/news/article/711/ There must be a corresponding bill then
     
  9. ken454

    ken454 Well-Known Member

  10. Michael K

    Michael K Well-Known Member

    Because 1964 was the last year of 90% silver.
     
  11. jorglueke

    jorglueke Member

    But it wasn't. They minted 90% silver in 1965
     
  12. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    The reason for making 64 coinage well into the next year's. Was to try and show the public that there was plenty of silver left in circulation. As many folks were hoarding the silver coins.
     
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  13. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    With a 64 date.
     
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  14. jorglueke

    jorglueke Member

    I found it in the Times archives. September 6th, 1964 he signed the bill keeping the date for all coins frozen at 1964. Coin collectors protested.
     
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  15. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    True.
    There are die varietys for 1964 that are collectible. One is the 64 Washington quarter with a type C reverse. This reverse was used on Quarters starting in 65.
     
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  16. AnonymousCoinCollector

    AnonymousCoinCollector Reintroduce silver coins to circulation!

    How much was a 1964 silver dime or quarter actually worth intrinsically in 1965?
     
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  17. Michael K

    Michael K Well-Known Member

    My post is explaining that they kept minting 1964 DATED coins in 1965 and 1966. Because 1964 is the last dated year of the 90% coins.

    Meanwhile, the price of silver steadily increased post-WWII. It gained 58% in 1945 and continued to increase in price to the early 1960s. It was artificially capped at the historic price of $1.29/oz by US government sales from 1963-1966 to discourage hoarding and/or melting of coins. The Coinage Act of 1965 ended the minting of silver dimes and quarters in the United States and debased the silver content of half dollars from 90% to 40%. Silver was eliminated from this coin in 1970. (Actually 1971 but w/e.)

    So I think when there was a little silver value in coins higher than the face value, they went off of it.
     
    Last edited: Jun 8, 2019
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  18. mikenoodle

    mikenoodle The Village Idiot

    The Coinage Act of 1965 is the legislation.
     
  19. jorglueke

    jorglueke Member

    No. There was a seperate law passed in September 1964 that froze the date.
     
  20. Michael K

    Michael K Well-Known Member

    You could still redeem silver certificates for silver coins and then after that,
    some little globs of silver called granules. If anyone has these granules,
    I am sure the members of this forum would love to see them.
    "In 1963, the House of Representatives passed PL88-36, repealing the Silver Purchase Act and instructing on the retirement of $1 silver certificates. The act was predicated by a prospective shortage of silver bullion. Certificate holders could exchange the print for silver dollar coins for approximately 10 months. In March 1964, Secretary of the Treasury C. Douglas Dillon stopped the issuance of coins, and, for the next four years, certificates were redeemable for silver granules. The redemption period for silver certificates ended in June 1968."
     
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  21. mikenoodle

    mikenoodle The Village Idiot

    No, there wasn’t.

    According to Wikipedia:

    Section 101 of The Coinage Act of 1965 authorized the Secretary of the Treasury to issue dimes, quarters, and half dollars of clad composition, with the half dollar to be made of 40 percent silver. So long as there was a shortage of coins, the Mint could strike dimes, quarters, and half dollars from .900 silver, but this authority was to end once the secretary certified there was an adequate supply of the new coins in circulation, and in any event five years after the law was enacted (thus, ending July 23, 1970). During that five-year period, no standard silver dollars could be minted.[62]

    The provision of the law that allowed the continued striking of 90% coins stated that the dates on the silver coinage would remain 1964 and the clad would remain 1965 until the Treasury Secretary changed the date. The 1965 coins were struck into May of 1966.
     
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