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No arrows on 65-70 half dollar for silver content change
Aspie_Rocco
Posts: 3,259 ✭✭✭✭✭
1853 silver coins had arrows around the date to signal a change in metal content (except 3¢ and $1)
Why was this technique not also used on the 1965-1970 Kennedy half?
http://www.pcgs.com/SetRegistry/publishedset.aspx?s=142753
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
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Because we had long since given up on the idea that coinage needed to have intrinsic value equal to its face value
Good question!
Perhaps the powers in charge perceived that the half dollar had had its day, and that it won’t have much impact on the economy any more. The 40% silver half was a compromise part of the Coinage Act of 1965. The silver mine industry had pushed for 40% silver for the dime, quarter and half dollar. Much of the other political forces supported the copper-nickel clad coinage for all of the formerly silver coinage. The 40% half dollar was the compromise.
Why call attention to further debasement of "our" .....money?
In addition to Bill's excellent comment, the half dollar was thought of as a "prestige" coin by many in Congress and the Administration. It would be the largest size & denomination circulating coin.
Intrinsic value for silver faded after 1853, but remained for gold until 1934.
I like the answer by @jmlanzaf .... While not formally noted, it likely was often discussed. Cheers, RickO
That is an excellent question.
I think the answer is contained in the responses above.
It is interesting to note that there was an obvious design change to differentiate the silver war nickels from the pre- and post-war nickels. I had heard speculation that the gov't might have intended to cull them out of circulation later on but as far as I know that never happened. Also, did it cost more to make a war nickel than 5 cents? If so, then the idea of pulling them out of circulation after the war might have been a valid plan.
JBK. No need to speculate. Information relating to the copper-silver-manganese alloy and use of a large mintmark has been published. In short: Director Ross decided on the size and placement of mintmarks. Their purpose was to facilitate sorting so that worn and mutilated war nickels didn't get mixed in the normal Cu-Ni alloy. This was important because a very small amount of silver and/or manganese would ruin standard alloy. The Mint later decided that the original color difference, and the noticeably dark color after circulation were sufficient. IN the 1950s reliable eddy current separation was used to recover the coins. They were cast into bars and sold to commercial users. The cost of removing manganese was high, so nobody made much of a profit.