Week # 251: Who remembers the 70's?

[Melissa Pearce]

QUESTION:

 

Why were 1970-D half dollars issued only in that year's Uncirculated Set?

 

Good Luck!

 

Our first place winner will receive a copy of "A Guide Book of Modern United Sates Proof Coin Sets", by David W. Lange. There will also be a runner up prize given to a randomly selected player with the correct answer.

 

REMINDER: The Numisma-Quest ends on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia info post for more details.

 

When you post your answer, only the administrators an see it . Stop back this Monday. We will make all the posts visible and announce the winners.

[dan8402]

Because the mint was making the change from 40% silver to clad.

[MunkyMan95]

There was little public demand for them... I dunno.

 

And by the way, I don't remember the 70's

[Allan Ong]

Metal was being changed from silver to CN

[zrlevin]

There wasn't enough demand for there to be circulation strikes.

[DC Dawg]

The mint was waiting the change from silver to copper-nickel, so they only struck enough for the sets.

 

Scott

[jtryka]

They were only produced for collectors pending the change in composition to copper-nickel clad the same as the quarter and dime in 1965.

[bsshog40]

I thought this year only had the P minted half?

[rrantique]

The 1970-D half dollars were struck only to fill that year's orders for mint sets, pending the change to copper-nickel coinage.

[bigmanSAM88]

The 1970-D half dollars were struck only to fill that year's orders for mint sets, pending the change to copper-nickel coinage

[rons]

Because there was a surplus of half dollars in the banking system?

[mhardin2413]

the price of silver increased and so the mint decided not to release the already 40% silver clad halves into general circ. the final switch to total clad thus began in 1971

[rtpjr]

1970-D Denver Kennedy half dollar was the last struck in 40% silver. When the price of silver went up, it was released only as part of the year’s U.S. mint set

[CarolinaCollector]

A guess - the silver in the half dollar was worth more than the $0.50 face value.

[Coinguy19]

The price of silver increased, so that only a small number were minted causing the mint to not release them into circulation and include them only in mint sets.

[SuperDave]

This happened because Congress was typically drawing out the debate over the continued metallic composition of what was then the last silver/clad coin in mintage. This debate went on during the period in 1969 when 1970's should have been minted, resulting in no regular issues and production of the Denver coin, in the original 40% silver formula, only to fulfill pending orders for mint sets.

[Admiral Mike-migration]

That the mint was too da cheap to issue general circulation half dollars for 1970 should be funny enough to get me the runner-up prize. But then, that is my twisted sense of humor.

 

I believe that would be the basic theory though. It was the last year of the 40% silver half dollars. Save money by reducing the amount of money being spent on silver bullion for the half dollar coins. It was the beginning of the Mint becoming cheapskates. They didn't issue another silver coin after that for 12 years with the 1982 Washington Commemerative Half Dollar.

 

Respectfully,

Michael Cooper

[ibyandsellsmith]

THE 1970 COINAGE LAW

 

The 1970 coinage legislation provides for the minting of a dollar coin bearing the likeness of former President Dwight D. Eisenhower, removing the silver content from the half dollar and the sale on a bid basis of the 2.9 million rare silver dollars in the possession of the Department of the Treasury.

 

“The Eisenhower dollar authorized by the new Coinage statute makes an excellent addition to the nation’s coinage”, Mary T. Brooks, Director of the Mint,said today.

 

“The new coin honors one of our country’s greatest war heroes and Presidents. And it is a further recognition of our beloved soldier-statesman for his outstanding achievements and contributions to America and the entire free world.

 

“Millions cherish the memory of “Ike”. The new dollar bearing his portrait is the first dollar coin produced since 1935 and will no doubt be the last of the silver coins produced by our country.”

 

The new law marks the first time a dollar coin has been produced since 1935. It also marks the first time a portrait of a President has been authorized to appear on a dollar coin. When issued, the dollar coin will complete the regular series of coins issued by the Mint bearing profiles of former Presidents.

 

The decision to make a dollar coin was in response to public demand. When President Eisenhower died on March 28, 1969, the volume of requests multiplied and favored his portrait on a new coin.

 

Over a four to five year period the Mint will produce 150 million pieces of the new dollar coin containing 40 percent silver for sale at premium prices. Within two to three weeks the Mint will announce production and distribution plans. However, it will be about six months before orders will be accepted for these coins.

[Danielle C.]

QUESTION:

 

Why were 1970-D half dollars issued only in that year's Uncirculated Set?

 

ANSWER:

 

A bill to remove silver from this denomination was pending most of the year.

 

Congratulations to our lst place winner SCOTTB!! You will receive a copy of "A guide Book of Modern United States Proff Coin Sets", by David Lange.

 

Congratulations to our runner up winner RRANTIQUE, you will be receiving a display box.

 

Thanks for playing this weeks Numisma-Quest. Dont forget to stop by for this weeks PMG question

[rrantique]

Got my display box yesterday pm. Nice addition to this hobby that i have enjoyed for the last 40 years.

 

thanks NGC staff

[rrantique]

Got my display box yesterday pm. Makes a nice addition to a hobby that i have enjoyed for the last 40 years.

 

Thanks NGC staff