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Why the difference in 1921 & 1922 Silver mintage?

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 Posted 02/21/2012  09:31 am Show Profile Bookmark this topic Add jeffrose to your friends list Get a Link to this Message

All the 1921 dimes, quarters & halves had very low mintage making them all key dates yet there were 86 million Morgans minted. Granted, the 1921 Peace dollar is a key but that is due to the fact that they were only minted for one month. 1922 saw 84 million Peace dollars but none of the smaller denomination silver coins at all.

Why?

OPEN 24 HRS (but not in a row)
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 Posted 02/21/2012  10:05 am  Show Profile Check SeatedNut's eBay Listings Bookmark this reply Add SeatedNut to your friends list Get a Link to this Reply
Politics and the priorities resulting from the politics. The Pittman Act of 1918 called for the melting of up to 350 million Morgans to support the British Pound Sterling from manipulation by the Kaiser. About 270 million were melted. The Pittman Act also directed a one-for-one minting to replace these. In 1921 and 1922 the Mint was hard pressed to meet the requirements of the Pittman act and put other denominations on the back-burner to pump out Morgan and Peace dollars.
So many coins, so little time ...
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 Posted 02/21/2012  4:05 pm  Show Profile Bookmark this reply Add matthewvincent to your friends list Get a Link to this Reply
SeatedNut has this question pretty much nailed.

It was required to produce silver dollars to back the currency.
Remember that World War I was over. Minor coins were not needed in 1921 and 1922 as much as in 1917 or 1918.
1922? Didn't the Philadelphia mint experience a fire that year? No cents were produced.
Only Denver made them.

As for all mints [1922]:

No nickels.
No dimes.
No quarters.
No halves.

ANYWHERE!

Yet another example of why history and coins are linked.
I feel sorry for those who do not learn the history.


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 Posted 02/21/2012  7:11 pm  Show Profile Bookmark this reply Add D0ubl3Eagle to your friends list Get a Link to this Reply
If you look at the large size silver certificates that were printed at the time, they all say payable in silver dollars unlike later silver certificates that say payable in silver.
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 Posted 02/22/2012  5:05 pm  Show Profile Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
OK they have covered why there were so many dollars. The reason for the low mintages for the rest of the coins is the same reason the mintage of the 2009 coins went down so much. The country was in the middle of a recession. There is typically a recession at the end of a war, in this case WWI, because of the high unemployment from all the soldiers coming home and the layoffs from all the industries that had been geared up for war production. In a recession coins came back out of hoards and those coins in circulation stayed there and didn't have to be replaced. This meant much less demand for new coins and low mintages.
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