The Silver Story

These photos represent a look back at a bygone era: a time when the average U.S. citizen could reach into his pocket and get a silver coin. he could open his wallet and find a bill redeemable in silver, either "granules" as shown above, or in some cases a silver dollar.

When Silver Began Disappearing

Demand forced the Treasury to limit the silver dollar coins as the "Silver Certificates" were redeemed for silver at the cash window for cash value ($1.00) each. Coin collectors and the general public soon realized that the coins were going to be no longer available to exchange for paper dollars so the demand escalated.

$1.299 per Ounce

Silver was sold by the Treasury at an official rate of $1.2999 per ounce. As the stockpile lessened, the restrictions against unlimited purchases were placed into effect and only legitimate holders of certificates were allowed to buy at the very low price.

Silver disappears from Las Vegas

Even Las Vegas were forced to eliminate the use of silver coins at their casinos and replaced them with a substitute metal token to prevent their supply from disappearing. The silver dollars are now only seen in collections or exhibits.

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1964, the beginning of the end.

1964 is the last year that the U.S. dime, quarter and half dollar contained 90% silver. The following year, in 1965, people's pockets were flooded with metal coinage that had the same look as the silver coins. That is why when you look at your pocket change, you will find many quarters from 1965 - mass produced to fill the void of silver hoarders removing the previous year's silver quarters from circulation.

June of 1968: Tragedy

This date will always be remembered as the official time when Uncle Sam decreed that his silver certificates were no longer redeemable for silver. The tiny drops of silver granules which citizens could receive by traveling to the San Francisco or New York Assay Officer were his redemption fulfillment.

Those who redeemed just a few notes were presented separate little plastic bags containing $1 in silver granules for each $1 in notes redeemed. Each $1 silver granule packet contained 0.773 troy ounce of pure silver, the amount of silver in a standard U.S. silver dollar.
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What this means for us today.

The story of silver is vital to every American because it represents a change in viewpoint by officials in Washington. The currency of the U.S. is no longer tied to gold since 1933 and is now almost completely gone from any ties to silver. Was it for the best? Or was it an inflationary act? Time has shown the truth of the matter.

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Learning from the Past

We can look back at the old "Silver Certificates" and silver granuals and silver quarters, dimes and half-dollars and remember a time when silver was our money.

Do you remember silver money? Has anyone exchanged silver certificates for actual silver metal? Let me know in the comments!

(All photos original unless sourced)

@ironshield

Benjamin Turner: God fearer. Rooted in Messiah. Husband of @lturner. Father of four wonderful children. The guy behind the camera. Steemit enthusiast.

Bless the Most High!

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