The American Empire in a Changing World


Monday, December 17, 2012

''Why Did Silver Coinage End in the United States?''

From Silver Monthly

''The effects of inflation, coupled with the strong incentives for private collection of the silver coinage which had now been demonetized, caused silver coins to quickly disappear from circulation. By 1970, strictly cupronickel coinage was manufactured and circulated by the U.S. government. The underlying circumstance which made the Coinage Act of 1965 necessary was the inflation caused by increases in the money supply. True enough, the strain on the nation’s supply of silver at the time was great, due in part to the government’s interference in prices.''

read more 

No comments:

Post a Comment