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1920 Morgan dollars ?
RogerB
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It's possible that if Assistant Treasury Secretary S. P. Gilbert had his way, production of Morgan-type silver dollars would have resumed in 1920 instead of February 1921. Assistant Secretary Leffingwell, who outranked Gilbert and was part of the original Pittman Act discussions, wanted to wait.
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Great find.
The manuscript response says:
" Mr. Gilbert: I think we should delay decision until we have a little better light on probable future course of silver market.
R.L. (Robert Leffingwell)
May 22/20"
@dcarr? Edit to ask has that been done?
Cool !!!
Interesting document.... playing the market even then.... Cheers, RickO
Interesting. I wonder when Morgan began work on preparing the models, hubs and dies for his resurrected dollar. With so much lead time he certainly could have done a better job of it!
Will there eventually be a1920 "Carr" Morgan dollar?
So far, no one has come up with the written order for Morgan to make dollar dies or to use his 1877/78 designs.
Leffingwell's comment relates to extreme volatility and increases in silver prices. Legislation was introduced in Congress to reduce the silver content of US coins. Britain removed a large proportion of silver from its coins. The silver market (commonly called the "course of silver") soon settled back into a normal range and changes were not necessary until 1965.