First Page
Posted 05/25/2006 10:26 am
quote:
Originally posted by Stephen420
I thought only Congress had authority over the coinage. I read about the Treasury paying out about a gazillion silver dollars in the 60s. Is that related to this?
Congress has the authority to create new coinage. Most of the old silver dollar hoards were payed out at banks as you have correctly said. At some point, a large cache of CC and some others (most of the issues saw little release when minted) were found in a Treasury vault. It was decided that the Treasury could sell these at a profit rather than release them to banks. The GSA cataloged and encased the coins in the black GSA holders for sale and the rest is history. Today, GSA Morgans command a premium over raw coins that I wish I could afford
