![]() Resulting in a coin that looked flat and lifeless, even when fully struck. Emphasizing on getting maximum use out of the coin dies, instead of making pretty coins. George Morgan made new low relief hubs from scratch. Provided, That no change be made in the diameter of any coin:Īnd provided further, That nothing in this section shall prevent the adoption of new designs or models for devices or emblems already authorized for the standard silver dollar and the five-cent nickel piece as soon as practicable after the passage of this act. The change in design was actually authorized under an 1890 act of Congress, which stated:īut no change in the design or die of any coin shall be made oftener than once in twenty-five years from and including the year of the first adoption of the design, model, die, or hub for the same coin: Even though the Act did not describe the coin design. But it was without congressional authorization. Under the terms of the Pittman Act anyway. The Peace dollar was supposedly minted to replace the Morgan Dollar. During the same year, the Peace dollar was first issued to commemorate the end of World War I. to mint a replacement coin for every silver dollar melted. Another provision of the Pittman Act authorized the U.S. Since the Treasury had destroyed the obsolete Morgan dollar dies in 1910, Morgan had to create an entirely new master die. Once it dropped below that, they clamored for the government to buy their silver. ![]() As long as silver prices were above a dollar, the silver miners preferred to sell their ore on the open market. Mint to buy silver at $1 per ounce after the war to replace the 270 million silver dollars that were melted down. We buy and Sell 1921 Morgan Silver Dollars! Here Vermillion Enterprises! Pittman Act – There’s More to This Storyįurthermore, the 1918 Pittman Act forced the U.S. Of that amount, 259,121,554 were sold to the United Kingdom at the cost of one dollar per troy ounce. eventually melted a total of 270,232,722 silver dollars. to melt up to 350,000,000 silver dollars, and this commenced immediately after the Act’s passage. The bill, passed on April 22, 1918, stated that “sales of silver bullion under authority of this act may be made for the purpose of conserving the existing stock of gold in the United States, of providing silver for subsidiary coinage and for commercial use, and of assisting foreign governments at war with the enemies of the United States”. In response, United States Democratic senator Key Pittman of Nevada introduced legislation in 1918 that was intended to offer financial relief to the British government. The British government appealed to the U.S. If India revolted, the British would have to make peace with Germany. The Germans then convinced Indian citizens that the British banknotes could not be redeemed for silver. The German government began a campaign to discredit Britain’s currency in India. They had issued more silver certificates in India than they had silver to back them. The British were suffering a silver shortage that jeopardized the entire Allied side in WWI. So how did the 1921 Morgan Silver Dollar come about exactly? 1918 – Germany WWI Not expecting to need the Morgan Dollar dies again. Mint cleared out the hubs and dies that were no longer used. As a matter of fact, the master dies were destroyed in 1910. No one expected to see new Morgan Dollars after their demise in 1904. The Morgan Silver Dollar 1878-1904 reign was over. Minting of the Morgan Silver Dollar ceased. Silver bullion supply was exhausted in 1904. 1921 Morgan Silver Dollars The 1921 Morgan Silver Dollarįollowing the Congressional orders for the coining of all the remaining bullion purchased under the Sherman Silver Purchase Act into silver dollars in 1898.
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