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The US last minted silver dollars for circulation in 1935. However there's more to the story.

Demand for silver dollars was generally low due to their size and weight. They were popular in the western US, though, in part for historical reasons and in part because they were used in Nevada's slot machines. That led to an uptick in demand during the early 1960s. Abetted by lobbying from the gaming and silver industries, the government agreed to start making new silver dollars and ordered a trial run of about 300,000 1964 Peace dollars to be made at the Denver Mint.

This was at exactly the same time that the government was forced to deregulate the price of silver so the new coins turned out to be worth far more than $1 each just for their metal content. Plans to make more were scrapped and orders were given to melt the initial run. There are persistent rumors that Mint employees swapped some older Peace dollars for equal numbers of the 1964-D coins. If any of these dollars do exist they would be among the rarest and most valuable of all American coins.

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15y ago

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