Prior to 1960 silver moved up and down, but within a range. After 1960 silver began to climb,
As I recall, silver was held at $1.29/oz. until Johnson took most of the silver out of coinage and announced that silver certificates wouldn't be redeemable in silver after a certain date (1966-1967?).
There are millions of silver certificates out there, why did folk not redeem the certificates?
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The melt value of $1 face value of US silver coin did not exceed the $1 face value until mid-1967.
As of mid-1968, the US Treasury stopped accepting Silver Certificates from the public in exchange for physical silver.
So that all happened in a relatively short time span.
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And, during that time period, silver coins were still circulating, in diminishing numbers. Halves disappeared first. I even remember in 1962 you could still get silver dollars from the bank.
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And, during that time period, silver coins were still circulating, in diminishing numbers. Halves disappeared first. I even remember in 1962 you could still get silver dollars from the bank.