Just realized, no dollars minted after the Peace...

joeykoins · November 26, 2020 4:28PM

Yes, while searching the many denominations of coins, I noticed that they didn't mint a Dollar until 35 years after the last year of the Peace Dollar 1935. What? Didn't people care? How 'bout the coin collectors back then, didn't they care? Didn't the Mint care? What's up with that? Wow. and Why?

Weiss · November 26, 2020 4:42PM

30 years. 1964 Peace dollar.

Though there were other dollar-sized silver coins made by the US mint for other countries.

joeykoins · November 26, 2020 4:47PM

Oh yeah, forgot about that elusive Dollar. Thanks.

Coinlearner · November 26, 2020 4:49PM

Because there was no need to mint more. They already had many 1000 dollar bags of Morgans from the 1800's in stock

joeykoins · November 26, 2020 5:00PM

Mannnn! I know people would think I'm CRAZY, but I would certainly love going through ALL those!

johnny9434 · November 26, 2020 5:08PM

I wish that was my vault for sure

jmlanzaf · November 26, 2020 6:08PM

@joeykoins said:
Yes, while searching the many denominations of coins, I noticed that they didn't mint a Dollar until 35 years after the last year of the Peace Dollar 1935. What? Didn't people care? How 'bout the coin collectors back then, didn't they care? Didn't the Mint care? What's up with that? Wow. and Why?

They also didn't mint any between 1904 and 1921. And most of the large mintages of those weren't driven by love of the coin or use in commerce. There was a lot of political pressure brought to bear by silver interests.

You might also consider that even though they started striking dollar coins again in 1971 (1964 excepted), they were rarely used in commerce.

A better question is why anyone strikes dollar coins now?

JBK · November 26, 2020 6:18PM

As I understand it, outside of the slot machines in Vegas and elsewhere, silver dollars were never really popular with the public.

Batman23 · November 26, 2020 6:21PM

@jmlanzaf said:

A better question is why anyone strikes dollar coins now?

Aren't we just stocking up for when they stop making the dollar bill?

MsMorrisine · November 26, 2020 6:25PM

4 small dollars are heavier and bulkier than 4 rectangular ones

there is the pita factor.

and collectors are what is keeping the dollar coin being made. otherwise, no one would care.

as far as vaults of dollar coins... there were over 1 billion 2000 sacs minted that aren't circulating. and that's just 2000.

who wants into those vaults?

daltex · November 26, 2020 6:25PM

@jmlanzaf said:

@joeykoins said:
Yes, while searching the many denominations of coins, I noticed that they didn't mint a Dollar until 35 years after the last year of the Peace Dollar 1935. What? Didn't people care? How 'bout the coin collectors back then, didn't they care? Didn't the Mint care? What's up with that? Wow. and Why?

They also didn't mint any between 1904 and 1921. And most of the large mintages of those weren't driven by love of the coin or use in commerce. There was a lot of political pressure brought to bear by silver interests.

You might also consider that even though they started striking dollar coins again in 1971 (1964 excepted), they were rarely used in commerce.

A better question is why anyone strikes dollar coins now?

Or between 1981 and 1999 for that matter. If I recall correctly, they restarted (this time) to use as change in transit and USPS vending machines.

MsMorrisine · November 26, 2020 6:29PM

not to use them in vending machines and such.

the idea was really to get citizens to use the dollar coins instead of the rectangles. dollar coins last longer.

once the idea was dying on the vine did they start thinking of ways to encourage their use, such as transit vending machines and at the post office.

but even back then i can tell you it was by force they were issued as change, bank tellers and cashiers weren't handing them out as change.... on purpose.

CCDollar · November 26, 2020 6:32PM

Too bad about the public's view on the dollar coin. Growing up in Nevada in the 1950's, I still like slapping down a dollar on the store counter. Take care....

CC

BryceM · November 26, 2020 6:35PM

I've told this before but my dad grew up in rural Idaho. He had a paper route and went out once a month for collections. He hated silver dollars. After getting 20 or 30 of those he could scarcely keep his pants up.

koynekwest · November 26, 2020 6:42PM

@jmlanzaf said:

@joeykoins said:
Yes, while searching the many denominations of coins, I noticed that they didn't mint a Dollar until 35 years after the last year of the Peace Dollar 1935. What? Didn't people care? How 'bout the coin collectors back then, didn't they care? Didn't the Mint care? What's up with that? Wow. and Why?

They also didn't mint any between 1904 and 1921. And most of the large mintages of those weren't driven by love of the coin or use in commerce. There was a lot of political pressure brought to bear by silver interests.

You might also consider that even though they started striking dollar coins again in 1971 (1964 excepted), they were rarely used in commerce.

A better question is why anyone strikes dollar coins now?

These days they are struck only for collectors. It's been that way for quite a while.

DBSTrader2 · November 26, 2020 7:03PM

So................ if they are minting dollar coins in anticipation of their SOMEDAY replacing paper bills (if that ever gets past the paper manufacturing lobby & select Congressmen), someone please tell me what they are continuing to mint HALF-dollars in anticipation of?.................

MsMorrisine · November 26, 2020 7:23PM

they stopped minting dollar coins for circulation somewhere in the presidential series. the dollar coins minted now are purely sold as numismatic items.

the half dollar coin had its last big bunch of circulation strikes in 2001. from 2002 to present these are being sold as numismatic items only.

RedStorm · November 26, 2020 7:37PM

@MsMorrisine said:
they stopped minting dollar coins somewhere in the presidential series. the dollar coins minted now are purely sold as numismatic items.

Some might say it was Joe Biden’s biggest accomplishment as Vice President, he had a leading role in the government ceasing dollar coin production for circulation in 2011 due to the 1+ billion stockpile. Beginning with the Chester A. Arthur coin, the dollar coin has only be minted for collectors.

jmlanzaf · November 26, 2020 7:42PM

@koynekwest said:

@jmlanzaf said:

@joeykoins said:
Yes, while searching the many denominations of coins, I noticed that they didn't mint a Dollar until 35 years after the last year of the Peace Dollar 1935. What? Didn't people care? How 'bout the coin collectors back then, didn't they care? Didn't the Mint care? What's up with that? Wow. and Why?

They also didn't mint any between 1904 and 1921. And most of the large mintages of those weren't driven by love of the coin or use in commerce. There was a lot of political pressure brought to bear by silver interests.

You might also consider that even though they started striking dollar coins again in 1971 (1964 excepted), they were rarely used in commerce.

A better question is why anyone strikes dollar coins now?

These days they are struck only for collectors. It's been that way for quite a while.

It was a rhetorical question.

That said, they struck far more than are necessary for the small number of collectors. And look at the huge numbers of Susan B. Anthony $'s that spent nearly 20 years languishing in Treasury vaults. Lord knows how many prez dollars are in there.

jmlanzaf · November 26, 2020 7:45PM

@daltex said:

@jmlanzaf said:

@joeykoins said:
Yes, while searching the many denominations of coins, I noticed that they didn't mint a Dollar until 35 years after the last year of the Peace Dollar 1935. What? Didn't people care? How 'bout the coin collectors back then, didn't they care? Didn't the Mint care? What's up with that? Wow. and Why?

They also didn't mint any between 1904 and 1921. And most of the large mintages of those weren't driven by love of the coin or use in commerce. There was a lot of political pressure brought to bear by silver interests.

You might also consider that even though they started striking dollar coins again in 1971 (1964 excepted), they were rarely used in commerce.

A better question is why anyone strikes dollar coins now?

Or between 1981 and 1999 for that matter. If I recall correctly, they restarted (this time) to use as change in transit and USPS vending machines.

They actually started using them in an attempt to get the 500 million coins out of Treasury vaults. But since they didn't circulate, they ran out in the late 1990s which is why they started minted dollar coins again.

jmlanzaf · November 26, 2020 7:46PM

@RedStorm said:

@MsMorrisine said:
they stopped minting dollar coins somewhere in the presidential series. the dollar coins minted now are purely sold as numismatic items.

Some might say it was Joe Biden’s biggest accomplishment as Vice President, he had a leading role in the government ceasing dollar coin production for circulation in 2011 due to the 1+ billion stockpile. Beginning with the Chester A. Arthur coin, the dollar coin has only be minted for collectors.

Still seems like 40 million is waaay more than they need for collectors:

https://presidentialdollarguide.com/presidential-dollar-mintages/

MsMorrisine · November 26, 2020 7:54PM

@jmlanzaf said:

Lord knows how many prez dollars are in there.

in 2000, 1.25 billion sacs were minted for "circulation."
https://en.wikipedia.org/wiki/Sacagawea_dollar#Mintage_figures

in 2007, there were just under 1 billion minted across all 4 presidents. in 2008, just under 500 million.
https://en.wikipedia.org/wiki/Presidential_dollar_coins#Coin_details

we have a nice supply.

jmlanzaf · November 26, 2020 7:58PM

@MsMorrisine said:

@jmlanzaf said:

Lord knows how many prez dollars are in there.

in 2000, 1.25 billion sacs were minted for "circulation."
https://en.wikipedia.org/wiki/Sacagawea_dollar#Mintage_figures

in 2007, there were just under 1 billion minted across all 4 presidents. in 2008, just under 500 million.
https://en.wikipedia.org/wiki/Presidential_dollar_coins#Coin_details

we have a nice supply.

LOL For now.

rec78 · November 26, 2020 9:11PM

In 1935, Joey, most people didn't care about coin collecting. They had to worry about getting something to eat. Times were tough and if you had a quarter you had a meal.

TwoSides2aCoin · November 26, 2020 9:23PM

In 1935, Johnny's teacher asked Johnny : " If you had a quarter in one pocket and a nickel in the other; what would you have ? " Johnny answered: "That's easy, teacher. I'd have somebody else's pants on".

3stars · November 26, 2020 10:18PM

Dollar coin lasts 30+ years, dollar bill 1.5 years. Every other first world country uses a dollar or equivalent coin and has for decades.

jmlanzaf · November 27, 2020 3:20AM

@3stars said:
Dollar coin lasts 30+ years, dollar bill 1.5 years. Every other first world country uses a dollar or equivalent coin and has for decades.

Actually, that's an old number. $ bills actually last more than 6 years in circulation.

https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm

The fed recently re-evaluated this and there was no economic case, as a result, for the $ coin over the $ bill due to differences in production costs.

ricko · November 27, 2020 6:10AM

I like big, silver, dollars....Morgan's, Peace, Ike's etc..... Never did collect paper currency. The big coins always fascinated me, and I can recall having the pocket full of change as a paper boy...silver halves, quarters, dimes.... finally got smart and had a belt coin holder... still had the weight, but easier to make change. Cheers, RickO

PhillyJoe · November 27, 2020 8:07AM

The proposed reintroduction of the silver dollar in 1964 ran up against the silver hoarding taking place at the same time. The Mint cancelled the project right after the Denver Mint gave freshly minted 1964 Peace dollars to its employees. Roger Burdette covers this in his book.

CaptHenway · November 27, 2020 9:07AM

@JBK said:
As I understand it, outside of the slot machines in Vegas and elsewhere, silver dollars were never really popular with the public.

Actually, silver dollars were always very popular throughout the West. That's why when the dollar supply ran out in 1964, a Senator from Montana worked out a deal with President Johnson for the U.S. to strike millions of 1964-dated Peace dollars in exchange for support for either the Civil Rights Act or the Voting Rights Act that Johnson wanted passed. They struck the few hundred thousand trial strikes to show good faith with the deal, before the Treasury Department killed the coin because they knew that they would be immediately hoarded out of circulation.

I used to play cards with my oldest brother and some buddies of his, one of whom had been in the Service (Air Force?) in Montana in the early 1960's. He said that if you went into a bar in town and ordered a drink and laid a $5 bill on the bar you got back four silver dollars and some other change. Gas stations would close around 7 PM but you could still buy gas by putting a silver dollar in a pay slot. Two dollars would get you 10 or more gallons.

CaptHenway · November 27, 2020 9:09AM

@PhillyJoe said:
The proposed reintroduction of the silver dollar in 1964 ran up against the silver hoarding taking place at the same time. The Mint cancelled the project right after the Denver Mint gave freshly minted 1964 Peace dollars to its employees. Roger Burdette covers this in his book.

According to the retired Denver Mint employee that I spoke with at ANA Headquarters around 1980, employees were allowed to buy one or two of the coins. They were not given to employees.

joeykoins · November 27, 2020 9:11AM

Wow! I love the part, "when you lay a $5 bill on the bar you get back, 4 silver dollars"

ambro51 · November 27, 2020 9:15AM

@CaptHenway said:

@PhillyJoe said:
The proposed reintroduction of the silver dollar in 1964 ran up against the silver hoarding taking place at the same time. The Mint cancelled the project right after the Denver Mint gave freshly minted 1964 Peace dollars to its employees. Roger Burdette covers this in his book.

According to the retired Denver Mint employee that I spoke with at ANA Headquarters around 1980, employees were allowed to buy one or two of the coins. They were not given to employees.

Yup. True! I know this guy Dan Carr who sells them!

PhillyJoe · November 27, 2020 9:56AM

Yes, the Mint would not give them, but allow to buy them. Right before they wanted them back.

cladking · November 27, 2020 10:08AM

@MsMorrisine said:
4 small dollars are heavier and bulkier than 4 rectangular ones

there is the pita factor.

and collectors are what is keeping the dollar coin being made. otherwise, no one would care.

as far as vaults of dollar coins... there were over 1 billion 2000 sacs minted that aren't circulating. and that's just 2000.

who wants into those vaults?

The reason coins aren't used any longer is that they have become irrelevant. We wouldn't think anything at all about tendering coins and getting them in change if they could buy anything. Credit cards despite their inefficiency, wastefulness, and lack of privacy are taking over because government has made cash irrelevant through inflation and various other means. You can't buy a house or a car any longer with cash and very few people will even buy one of those refrigerators that won't work for two years with cash. Cash is for fast food and coins are for tolls.

Part of the reason that coins are obsolete is that there is no dollar coin and we still use less than worthless and toxic pennies because so there's no place in cash registers for dollar coins.

Don't think of it as collectors keeping the dollar coin alive but rather as government stopping the use of coins. And part of the methodology is the production of 10 billion pennies each year and the refusal to get rid of the note which would improve efficiency making coins and cash a little more popular.

RedStorm · November 29, 2020 6:17PM

@cladking said:

Part of the reason that coins are obsolete is that there is no dollar coin and we still use less than worthless and toxic pennies because so there's no place in cash registers for dollar coins.

The vending machines at my work take dollar coins. I hate using dollar bills in the machines because they spit them back a lot. Not so with dollar coins, so it makes for an easy transaction for a soft drink, snack or sandwich from the various machines. I usually keep a roll of dollars in my desk for the machines, so I find the current dollar coin useful albeit for that limited role.

Just realized, no dollars minted after the Peace...

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