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25 Yrs Ago today! First American Silver Eagle was struck...

"..at the San Francisco Mint. With a drumroll from the Sixth Army Band and a cry of "Hi-Yo Silver Away!' Treasury Secretary James Baker struck the first American Eagle silver coin at the U.S. Mint's San Francisco Assay Office."
One million were minted before they were put on sale that year on November 24. Production capacity was 50,000 coins/day. Silver was $5.58 an ounce at the time.
"Demand is expected to come from investors who distrust the stability of other currencies or economic systems."
Previous to this the Treasury Department refused to consider bullion coin production because they did not want to be involved in creating a secondary U.S. currency!

Excerpted from today's San Francisco Chronicle.
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Comments

  • JBNJBN Posts: 1,857 ✭✭✭✭✭
    Yeah, the Wayback Machine is always a good read in the Sunday paper. I especially like when they excerpt the print from the stories of the day (25, 50, 75 & 100 yrs back), the writing and language being different and in some ways classier.

    Yes, I know 'no-one' reads a physical paper anymore. Old habits die hard. Kahlua, coffee, cream, and the Sunday paper.
  • SpoolySpooly Posts: 2,108 ✭✭✭
    Previous to this the Treasury Department refused to consider bullion coin production because they did not want to be involved in creating a secondary U.S. currency!


    That's funny! image


    You should post this on the PM forum.

    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • Is the Mint going to do something to commemorate this?
  • mariner67mariner67 Posts: 2,746 ✭✭✭


    << <i>You should post this on the PM forum. >>




    Good idea...done.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more


  • << <i>Is the Mint going to do something to commemorate this? >>




    image
    my ebay items BST transactions/swaps/giveaways with: Tiny, raycyca,mrpaseo, Dollar2007,Whatafind, Boom, packers88, DBSTrader2, 19Lyds, Mar327, pontiacinf, ElmerFusterpuck.
  • tychojoetychojoe Posts: 1,335 ✭✭✭


    << <i>Is the Mint going to do something to commemorate this? >>



    Calling Daniel Carr...
  • derrybderryb Posts: 37,024 ✭✭✭✭✭


    << <i>Previous to this the Treasury Department refused to consider bullion coin production because they did not want to be involved in creating a secondary U.S. currency! >>


    Congress, particularly Rep. Paul (TX) forced them to do so with legislation that required them to also mint enough "to meet public demand." This is why the bulk bullon coins get available blanks before any collector coins, and in times of shortages (2008 in particular) has caused low mintage with the collector versions.

    Exit bunker, enter Matrix. LOL

  • ManorcourtmanManorcourtman Posts: 8,058 ✭✭✭✭✭


    << <i>

    << <i>Is the Mint going to do something to commemorate this? >>




    image >>



    image Prolly nothin....
  • kiyotekiyote Posts: 5,580 ✭✭✭✭✭
    Oh God I'm old.
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
  • dcarrdcarr Posts: 8,574 ✭✭✭✭✭


    << <i>

    << <i>Is the Mint going to do something to commemorate this? >>



    Calling Daniel Carr... >>



    I was going to make a "1985" Silver Eagle over-strike, but I did the 2009-DC "proofed" coins instead.
    I still might do the '85 at some point.

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