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 Replies: 12 / Views: 720 |
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New Member
United States
4 Posts |
Does anyone know why from 1965 to 1970 the Kennedy half dollars still had silver (40%) when the dime and quarter were reduced to a copper center coin? Was there a remaining stock of silver they had to go through? |
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Bedrock of the Community
United States
49306 Posts |
( I'm no pro, it's just my humble opinion )
Searched 6.5 +/- Million Cents Since 1971
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Moderator
United States
122339 Posts |
 to the Community! Your post was moved to the appropriate forum for the proper attention. 
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Pillar of the Community
United States
6325 Posts |
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Valued Member
United States
162 Posts |
My personal guess is that the US Mint didn't want to make the change too drastic, even though it was already pretty drastic. Dimes and quarters were one thing, but half dollars are a higher denomination, so perhaps they felt compelled to do a slower transition, to help retain the value. Further, I assume it's likely also because there're a lot fewer half dollars, compared to dimes and quarters. Anyway, just my guess. I'll let people more knowledgeable chime in.
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New Member
United States
4 Posts |
Thank you for the warm, welcome and thank you for the hyperlink to that article.
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Bedrock of the Community
United States
15441 Posts |
and to CCF |
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New Member
United States
4 Posts |
I actually just thought of this, but do you think there was a big silver lobby in Washington back then?
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Pillar of the Community
United States
871 Posts |
Due to the rising price of silver, the composition of the Kennedy half dollar was changed from 90% silver to 40% silver in 1965. Here it says the same thing - In 1965, the coin's alloy was changed to 40% silver because, with the rise in silver prices, 90% silver coinage had a melt value equal to or greater than its face value. https://coinweek.com/modern-coins/t...-and-values/ |
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Pillar of the Community
United States
9728 Posts |
to the CCF
Take a look at my other hobby ... http://www.jk-dk.artToo many hobbies .... too much work .... not enough time. |
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Moderator
United States
122339 Posts |
Quote:Due to the rising price of silver, the composition of the Kennedy half dollar was changed from 90% silver to 40% silver in 1965. Here it says the same thing - In 1965, the coin's alloy was changed to 40% silver because, with the rise in silver prices, 90% silver coinage had a melt value equal to or greater than its face value. But the OP question is why did the 1965-1970 half dollars have any silver at all? Why not just go full clad across the board? I found this in the 1964-Present Half Dollar Kennedy History page: Quote:When Congress opted to eliminate silver from the dime and quarter beginning in 1965, it reached a compromise with the half dollar: Its silver content, while greatly reduced overall, was placed almost entirely at the coin's surface by bonding three strips of metal, the innermost one being primarily copper. These "silver-clad" pieces were coined from 1965 through 1970. Despite these various steps, Kennedy half dollars still failed to circulate to any great extent, and the question of eliminating its silver content altogether was eventually raised. After protracted debate during 1969-70, a bill was finally passed near the end of 1970 which called for the coining of half dollars in the same composition used since 1965 for the dime and quarter: two outer layers of copper and nickel bonded to an inner core of pure copper. From 1971 onward, the Kennedy half dollar would bear the red edge which had already become familiar to Americans who mourned the passing of silver from the nation's coinage. Alas, even this concession was not enough to make half dollars reappear in circulation, and today they are known only to coin collectors and gambling casino patrons.
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Pillar of the Community
United States
2474 Posts |
Quote:Despite these various steps, Kennedy half dollars still failed to circulate to any great extent, Those familiar with Gresham''s Law will revise that to read "BECAUSE OF these various steps..." Judging by the wear on many Franklin halves, the half used to circulate, but people hoarded the Kennedy design. Then Congress left some silver in the half as a token of respect for JFK. With no other silver being coined for business, people hoarded the 40% silver version. Six years of that was enough to make the half rare in circulation. Despire that, many banks have halves, so you can still get a few to spend, if you wish.
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Pillar of the Community
United States
2012 Posts |
I wonder if going off of the Silver Standard in 1971 had anything to do with it? It makes a bit of sense.
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Replies: 12 / Views: 720 |
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Posted 01/31/2023 4:30 pm
