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In reply to the discussion: Other than land, what's the oldest physical object that you own? [View all]DFW
(59,877 posts)In 1918, the government melted down about 270 million Morgan dollars, probably eradicating the mintages of the 1895 Philadelphia coins and the 1873 San Francisco coins (not the Trade Dollars), as well as most of dates like 1886-O (New Orleans mint) and 1884-S (San Francisco mint). Much of the silver bullion was shipped to England who needed it for India.
But silver dollar production resumed in 1921, after being stopped after 1904. Fifty million pieces were minted in 1921 with a slightly modified Morgan design, so they arent rare at all. At the end of 1921, a new design was introduced called the Peace dollar. The first version had an elegant high relief design that the mint found hard to mass produce. It was modified in 1922 to a flatter design. Massive amounts were made in 1922 and 1923. The design was continued through 1928. Production was resumed again in 1934 and 1935, and then discontinued permanently.
To add some intrigue, it was decided to resume production in 1964, with many thousands being struck in one day at the Denver mint. That first day, new coins were given out to Denver mint employees, just as the decision to release them was rescinded that same day, due to the rising price of silver. The mint employees were told to turn in their examples for remelting. Rumors have persisted since then that a few survived, a few mint employees having turned in 1922 or 1923 coins instead, which were identical in size and silver content. Once melted, of course, there was no difference, and no silver missing. No one I know professes to having seen one of those 1964-D coins, but rumors circulate to this day that someone, somewhere etc. Any survivor would be liable to government confiscation, so even if there is one out there, no owner is likely to admit it publicly.
