Howdy, iam Joshua Soileau, Don’t worry, it’s one day closer to the weekend.
Well, that’s a good question! Did silver dollars stop? Well, let me tell ya - the answer is yes and no. Yes, silver dollars stopped being minted in 1935 but no, they haven’t completely disappeared. You can still find them around today if you know where to look. In fact, some of the older coins are worth quite a bit of money! Whoa - talk about a nice surprise! So yeah, while silver dollars aren’t being made anymore, they’re still out there if you know where to look.
When Did Silver Dollars Stop Being 100% Silver? [Solved]
Wow! Before 1970, coins in the US had 90% silver content. But then, Public Law 88-36 changed that - reducing it to 40%. So now, those old coins with 90% silver are worth a lot more and people are really keen to get their hands on them.
End of Production: Silver dollars were last produced in 1935, when the U.S. Mint stopped producing them due to a lack of demand and the rising cost of silver.
Hoarding: During the Great Depression, many people began hoarding silver dollars, leading to a shortage in circulation and further decreasing demand for new coins.
Silver Purchase Act: The 1934 Silver Purchase Act required the U.S government to purchase large amounts of silver from mining companies, driving up the price and making it too expensive for minting coins with silver content.
Coinage Act of 1965: The Coinage Act of 1965 removed all legal tender status from silver dollars, effectively ending their production and circulation as currency in the United States.
Silver dollars stopped being used as a form of currency in the United States in 1964. Before then, they were a popular form of money, but after that, they became more of a collector’s item. So if you’re looking for silver dollars to use as money, you’re outta luck!
