Circulated Silver Coins

by Abe
(New York City)

I started saving silver in 1964, when we stopped using silver in our coinage, and a brilliant Govt official announced that now silver will go to a dollar an ounce.

Here is an excerpt from the speech President Johnson gave in July of 1965...


"Now, all of you know these changes are necessary for a very simple reason--silver is a scarce material. Our uses of silver are growing as our population and our economy grows. The hard fact is that silver consumption is now more than double new silver production each year. So, in the face of this worldwide shortage of silver, and our rapidly growing need for coins, the only really prudent course was to reduce our dependence upon silver for making our coins.

If we had not done so, we would have risked chronic coin shortages in the very near future.

There is no change in the penny and the nickel. There is no change in the silver dollar, although we have no present plans for silver dollar production.

Some have asked whether our silver coins will disappear. The answer is very definitely-no.

Our present silver coins won't disappear and they won't even become rarities. We estimate that there are now 12 billion--I repeat, more than 12 billion silver dimes and quarters and half dollars that are now outstanding. We will make another billion before we halt production. And they will be used side-by-side with our new coins.

Since the life of a silver coin is about 25 years, we expect our traditional silver coins to be with us in large numbers for a long, long time.

If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content".

Read more at the American Presidency Project: Lyndon B. Johnson: Remarks at the Signing of the Coinage Act


I spent most of my time at the bank buying roles of silver coins until there were no more to buy. The rest as they say is history with more to come.

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Sep 25, 2015
Since the last quarter of the XIX century NEW
by: Ted

Since the last quarter of the XIX century, the major economic powers, the United States and the United Kingdom systematically demonetized silver. That is, they tried to withdraw money from the world monetary system. This conclusion is debatable, but you will see that the decision to discontinue the use of silver people took not voluntary. Read more at pay for essay site which full of articles on this theme.

Aug 03, 2015
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Jul 24, 2015
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Jun 03, 2012
We are going to....

The referred speech ends with the words:
"We are going to keep our eyes on the stars and our feet on the ground."

Back in 1984 there used to be the big hoardings in gas stations in India "Conserve oil. Or walk to your office in 2000". Or something like that. It was felt that gas is not going to last for ever being a natural resource. GAS IS STILL AVAILABLE.

In 1965 the President of America speaks about shortage of silver. 47 years later now in 2012,

The question is whether we have reached a critical stage.

The signs around us seem to suggest an impending crisis.

Even if silver lasts for another thirty years, let it. God has his own designs.

But let us save the silver that we can. It is not going to let us down! Yes, President. We are going to keep our eyes on the stars and our feet on the ground.

Jun 03, 2012
Silver coins culled from circulation.
by: Tommy

I remember as a young boy when silver coins were removed from circulation. Back then MOST smart people stashed as many silver coins as possible in drawers and jars. My father used to take us camping in upstate NY every summer. He used to frequent the small stores in the rural areas and ask to purchase their silver coins. Even into the early 70's these small town stores always seemed to have a few silver coins for the taking. Long after they had dried up in our urban NJ hometown.

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