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<p>[QUOTE=&quot;Conder101, post: 1037541, member: 66&quot;]Source: Silver History&nbsp; Coin World Almanac 1990 edition pgs 487 - 491</p><p><br /></p><p>The Treasury in May 1965, &quot;The world and the US silver supply and production situation nd outlook do not warrent continuation of the large scale use of silver in the US coinage.&quot;</p><p><br /></p><p>On the basis of technical studies the Treasury recommended copper-nickel cladas the best material for a new and permanent subsideary coinage.</p><p><br /></p><p>Public hearings on on the government proposals were held.&nbsp; silver users anxious to have ample supplies of the metal available at stable or declining priceswanted silver to be completely eliminated from the coinage.</p><p><br /></p><p>Silver producers on the other hand took a somewhat different view.&nbsp; Fearing that a sharp swing away from silver might trigger a price break, they argued roe the retention of silver in the coinage to the maximum extent feasible.</p><p><br /></p><p>Western legislators argued the Treasury stocks would soon be depleated unless the government permitted the price of silver to rise in a free market.&nbsp; (The Treasury was selling silver into the market at $1.2929 to all comers even though the market forces were pushing for a higher level.&nbsp; This resulted in an artificially low price for silver.)</p><p><br /></p><p>The western Governors Conference resolved &quot;that Congress provide for the retention of silver in reduced amounts in all coins now silver, that an affirmative program be adopted to increase for and the development ofdomestic silver supplies, and that silver be permitted to seek its own price in the marketplace.&quot;</p><p><br /></p><p>Every company with a material in any way suitible for coinage pressed its claim for inclusion in the new coinage.</p><p><br /></p><p>The coinage act, like the new coinage, was a composite containing something for everyone. For the silver producers, silver kept at least a stake in the coinage, with the new half dollars requiring at least 15 million ounces per year.&nbsp; Producers were also assured a minnimum of #1.25 per ounce for their silver supplies.</p><p><br /></p><p>Silver users did not gat an entirely silverless coinage, but they did get silverless dimes and quarters.&nbsp; In addition the continued redemption of silver certificates by the Treasury provided an effective ceiling on the price.</p><p><br /></p><p><br /></p><p>So the retention of silver for the half dollar was a compromise to appease the western silver producers.[/QUOTE]</p><p><br /></p>

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