4/6/2024 0 Comments Noble collection two face coin![]() ![]() Both the public and many congressmen saw the issue as a poor use of Mint resources at a time of severe coin shortages, which would only benefit coin dealers. Ī public announcement of the new pieces was made on May 15, 1965, only to be met with a storm of objections. Despite the efforts of Mint Director Eva Adams and her staff to persuade him, Senator Mansfield refused to consider any cancellation or delay, and on May 12, 1965, the Denver Mint began striking 1964-D Peace dollars -the Mint had obtained congressional authorization to continue striking 1964-dated coins into 1965. The law had been passed at the urging of the Senate Majority Leader, Mike Mansfield (Democrat–Montana), who represented a state that heavily used silver dollars. Numismatic periodicals complained that striking the dollars was a waste of resources. The new pieces were intended to be used at Nevada casinos and elsewhere in the West where "hard money" was popular. This legislation was enacted when coins vanished from circulation as the price of silver rose past $1.29 per ounce, making silver dollars worth more as bullion than as currency. On August 3, 1964, Congress passed legislation providing for the striking of 45 million silver dollars. This caused shortages of silver dollars in the western states where the pieces circulated, and interests there sought the issuance of more dollars. In the early 1960s, though, silver prices rose, and the huge stocks of silver dollars in the hands of banks and the government were obtained by the public through the redemption of silver certificates. The Peace dollar, the last circulating dollar made of silver, was not struck after 1935, and in most years in the quarter century after that, the bullion value of a silver dollar did not exceed 70 cents. ![]() The silver dollar had never been a popular coin, circulating little except in the West it served as a means of monetizing metal and generally sat in bank vaults once struck. Given their modest cost and the short length of the series, complete sets of Eisenhower dollars are inexpensive to assemble and are gaining popularity with coin collectors.įurther information: Peace dollar § Striking of 1964-D dollars, and Coinage Act of 1965 § Coin shortage Anthony dollar, struck beginning in 1979, but that coin also failed to circulate. Beginning in 1977, the Mint sought to replace the cumbersome Eisenhower dollar with a smaller-sized coin. Williams in honor of the bicentennial of American independence. There are no dollar coins dated 1975 coins struck that year and from 1976 bear the double date 1776–1976, and a special reverse by Dennis R. On December 31, 1970, President Richard Nixon, who had served as vice president under Eisenhower, signed legislation authorizing mintage of the new coin.Īlthough the 40% silver collector's pieces sold well, the new base-metal dollars failed to circulate to any significant degree, except in and around Nevada casinos, where they were preferred over privately issued tokens. In 1970, a compromise was reached to strike the Eisenhower dollar in base metal for circulation, and in 40% silver as a collectible. While these bills generally commanded wide support, enactment was delayed by a dispute over whether the new dollar coin should be in base metal or 40% silver. ![]() After Eisenhower died that March, there were a number of proposals to honor him with the new coin. No dollar coins had been issued for thirty years, but, beginning in 1969, legislators sought to reintroduce a dollar coin into commerce. In 1965, because of rises in bullion prices, the Mint began to strike copper-nickel clad coins instead of silver. dollar coin whose circulation strikes contained no silver. Both sides were designed by Frank Gasparro, with the reverse based on the mission patch designed by astronaut Michael Collins. Eisenhower on the obverse, and a stylized image honoring the 1969 Apollo 11 Moon mission on the reverse. The Eisenhower dollar is a one-dollar coin issued by the United States Mint from 1971 to 1978 it was the first coin of that denomination issued by the Mint since the Peace dollar series ended in 1935. Mint mark omitted on Philadelphia Mint issues.Įagle clutching olive branch landing on the Moon, based on the Apollo 11 mission insignia designed by astronaut Michael Collins Located on the obverse beneath Eisenhower's bust. Coins struck in 19 bear double date "1776–1976"ĭ, S. Circulation strikes: outer layers of 75.0% copper 25.0% nickel clad with a core of 100% copper (in all 91.67% copper, 8.33% nickel).įor silver clad: Outer layers of 80% silver with a center of 20.9% silver. ![]()
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