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Question about Peace Dollars ending after 1934
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<p>[QUOTE="medoraman, post: 1174543, member: 26302"]The only reason that the mint even STARTED making silver dollars after 1904 was because Congress sold off our Morgan dollar reserves to Europe after WWI and we needed them to legally issue silver certificates. Short of that and 1904 would have been the last year of silver dollars until the Texan LBJ thought it was a good idea.</p><p><br /></p><p>Silver dollars and just too large to carry around. Try walking around in blue jeans with 5 or six silver dollars in yoru pocket to see what I mean. Same reason with half dollars, after the hoarding in the 60's made them mostly unavailable, Americans realized they aren't a very convenient size either.</p><p><br /></p><p>Put it this way, what percentage of Morgans do you think are XF-BU versus AG-VF? Now, think of any smaller denomination of coin in the US issued at the same time and their survival rates. See, the other denominations were USED, while the silver dollars were stored in vaults. This is not even counting the hundred of millions melted to sell to Europe. If it wasn't for casinos in the 1950's and 60's, there would be a lot fewer AU morgans as well, and more BU.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1174543, member: 26302"]The only reason that the mint even STARTED making silver dollars after 1904 was because Congress sold off our Morgan dollar reserves to Europe after WWI and we needed them to legally issue silver certificates. Short of that and 1904 would have been the last year of silver dollars until the Texan LBJ thought it was a good idea. Silver dollars and just too large to carry around. Try walking around in blue jeans with 5 or six silver dollars in yoru pocket to see what I mean. Same reason with half dollars, after the hoarding in the 60's made them mostly unavailable, Americans realized they aren't a very convenient size either. Put it this way, what percentage of Morgans do you think are XF-BU versus AG-VF? Now, think of any smaller denomination of coin in the US issued at the same time and their survival rates. See, the other denominations were USED, while the silver dollars were stored in vaults. This is not even counting the hundred of millions melted to sell to Europe. If it wasn't for casinos in the 1950's and 60's, there would be a lot fewer AU morgans as well, and more BU.[/QUOTE]
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