Proposal to melt silver dollars - 1941
RogerB
Posts: 8,852 ✭✭✭✭✭
Near the beginning of WW-II the Superintendent of the Denver Mint proposed melting all the silver dollars on hand at his facility. Here is his proposal letter. The plan was not accepted. (The original was in poor condition so a transcription was made,)
"United States Mint Service
Denver, Colo.
December 30, 1941
Director of the Mint,
Washington, D.C.
My dear Madam Director:
In answer to your letter of December 24, we do not have any silver bullion on hand resulting from the melting of silver coin. Domestic subsidiary silver coins are melted and the bullion used in new coinage promptly after the uncurrent coins are received. We have never received deposits of foreign coin except in stray lots containing a few pieces.
It occurs to us that now would be a very opportune time to melt the silver dollars on hand if the necessary Congressional action can be obtained. Doing this would make available a tremendous amount of copper and silver which otherwise will have to be obtained from other sources.
At this time we have in hand $12,150,359 in uncurrent silver dollars. If these coins were melted, assuming an 8% estimated loss from standard weight, there would be made available approximately 8,645,000 ounces of silver and 961,000 ounces of copper, or a total amount for re-coinage into silver coins of 9,606,000 ounces. If the uncurrent dollars could be melted, the amount of new copper necessary for alloy would be greatly diminished.
By melting the dollar on hand at this mint, we would gain some very much needed storage space. Withdrawing the uncurrent dollars from the mezzanine vault would permit us to build compartments in the vault and enable us to store the current dollars in a more systematic and satisfactory manner.
Yours very truly,
/s/ Mark A. Skinner
Superintendent
Org. filed: SILVER, USE OF BULLION RESULTING FROM MELTING OF SILVER COIN FOR SUBSIDIARY SILVER COINAGE
Copy filed: S/E/Gen’l – Copper, Shortage of
Coinage – Denver
Silver, E.P.
Silver, Purchase Act
Silver, Purchase of"
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