Why were there no Silver Dollar minted between 1935 and 1978??

Answer 1

It's the rarity and value of the silver content.
By 1928, the US Mint had struck enough silver dollars (Morgan and Peace combined) to satisfy the requirements of the Pittman Act. Since public demand for silver dollars did not materialize, the mint halted production of the Peace Dollar that year (with fewer than two million struck). The Peace Dollar returned briefly in 1934 and 1935, as the government needed additional backing for Silver Certificates.

The coin almost made a return in 1964, when Congress approved the mintage of 45 million new silver dollars to fulfill the needs of the booming casino industry in Nevada. The decision was controversial due to a critical silver shortage in 1965, which led to widespread hoarding of silver coinage. In response to the shortage, Congress passed the Coinage Act of 1965, which authorized the removal of silver content from circulating coinage (except for the Kennedy half dollar) minted after December 31, 1964. But under pressure from some members of Congress from the Western states, President Lyndon B. Johnson issued an order on May 15, 1965 to resume production of the Peace Dollar (dated 1964 to allow silver to be included). 316,076 Peace Dollars were struck at the Denver mint that month, before Congress overrode the Presidential order and demanded that production cease. All the coins produced to that point were ordered to be melted. Although rumors persist that some examples still survive, owning them is illegal, making it unlikely that anyone who does own one will ever come forth publicly.

Production of dollar coinage did not resume until the Eisenhower Dollar in 1971. That coin, however, has no silver content, except for some sold directly to collectors by the Mint. Likewise, the Susan B. Anthony, Sacagawea dollars, and Presidential dollars that have been minted since the Eisenhower dollar contain no silver, making the Peace Dollar the last true silver dollar.

Answer 2

In 1934 the U.S.Gold Reserve Act passed legislation, ending the worth of coins in proportion to their precious metals. All gold coins were called back with "purchasing power" put on their "redeemable value" instead of the weight of the metal. Minting of silver coins stopped because it was believed silver mines had also 'played out,' and the silver coins became so prized they pretty much disappeared from circulation.

The silver coins were supposed to be circulated until at least 1965 but no, we have people who hoard...esp. money! However by then most silver coins were just coated with a thin veneer of silver. In 1978, at least one silver coin was minted, (or was it in '78, and was it all silver?) the Susan B. Anthony dollar coin.

Spotty info...sorry!

Answer 3

its a government secret. Has to do with Russia and Aliens and conspiracies.