Shortage of Silver and Silver Coins
Likelihood of Cut in Silver Content of Coins
Debasement of America's silver coinage looms as a regrettable but necessary measure to end a nationwide coin shortage and to protect the Treasury's silver stocks. Proposals for fundamental revision of the coinage system are expected from the Treasury Department early in 1965, when it sends to Congress recommendations based upon a year-long study of the so-called “quiet crisis” in silver.
A worldwide silver shortage, the pressure of rising silver prices, and an insatiable demand for silver coins have combined to make a change unavoidable. Many experts believe there are only two practical choices: a reduction in the silver content of United States coins, or substitution of a cheaper metal alloy for silver in ...