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<p>[QUOTE=&quot;clayirving, post: 781300, member: 18867&quot;]For many years silver certificates were the major type of currency in circulation. However, in the early 1960s when the price of silver jumped to over $1.29 an ounce it was evident that further increases would make it profitable for holders of silver coins to sell them in the open market. To avert this crisis, Congress abolished Silver Certificates on June 4, 1963 and all redemption in silver ceased on June 24, 1968. </p><p><br /></p><p>In March 1964, Secretary of the Treasury C. Douglas Dillon halted redemption of Silver Certificates for Silver Dollars.</p><p><br /></p><p>In the 1970s, large numbers of the remaining silver dollars in the mint vaults were sold to the collecting public for collector value.[/QUOTE]</p><p><br /></p>

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