Beginning of Denver Mint's first and only silver dollar coinage 0

[RWB]

This letter relates to beginning of Denver Mint's only manufacture of standard silver dollars in 1934. Although the letter mentions 5 million pieces, these were to be spread over the fiscal year with about 1.5 million planned for 1934. By January 1935, the US Treasurer had determined that 1935-D dollars "were not urgent" and further production was eventually abandoned.

 

Edited April 10, 2022 by RWB

[DWLange]

That's a very interesting document. The resumption of silver dollar coinage after the Pittman Act silver ran out in 1928 was made possible by the Thomas Amendment to the Agricultural Adjustment Act. The AAA was one of FDR's host of "alphabet soup" roster of bills to revive the American economy and bring relief to the unemployed. Not all were successful, but the mere fact that someone was doing something was encouraging after his predecessor's reluctance to interfere with the natural order of things during a time of unprecedented crisis.

The Thomas Amendment was tacked on o the larger AAA legislation to provide for the purchase of silver above market value. FDR directed that the metal be coined into silver dollars, perhaps to make the effect of such purchases more visible, but the coining mandate was removed in 1935. Thereafter, silver bars stood in for dollar coins, and the text on the silver certificate notes was amended accordingly.

[RWB]

The Thomas Amendment led to the first use of the word "monetization" in relation to US coinage. The amendment meant that silver bullion could be "monetized" at 1.29+ per fine ounce instead of having to coin it into standard silver dollars. (Use of the term in relation to 1933 double eagles is both false and meaningless.)

[VKurtB]

I don’t understand. Weren’t the 1921-D Morgan’s the first?

[DWLange]

The original post states that "first" applies specifically to the 1934 edition.

[RWB]

1934-D is the only [Peace-type] silver dollar manufactured and released by the Denver Mint.

We do not know if 1935-D dollars were made then condemned. We know that 1964-D dollars were made then condemned.

Edited April 12, 2022 by RWB
corrected mistake

[DWLange]

1934-D is the only silver dollar manufactured and released by the Denver Mint.

I believe you are so focused on the dollar coinage of 1934-35 that you don't see the error of the above statement. Denver struck silver dollars 1921-23 and 1926-27, as well. There was also the abortive coinage of 1964-D dollars and then last year's centennial edition.

[RWB]

On 4/12/2022 at 10:21 AM, DWLange said:

1934-D is the only silver dollar manufactured and released by the Denver Mint.

I believe you are so focused on the dollar coinage of 1934-35 that you don't see the error of the above statement. Denver struck silver dollars 1921-23 and 1926-27, as well. There was also the abortive coinage of 1964-D dollars and then last year's centennial edition.

You're correct. I completely forgot about 1921 Morgans and then all the Peace dollars. I was focused on the silver source mentioned in the letter. Should have proof read what was written before posting.

Edited April 12, 2022 by RWB