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August 2, 1965

 

The Coinage Act of 1965 had a huge impact on coin collecting. Due to concerns of a silver shortage, the Act started the minting of clad coins with no silver content. This would would lead to the emergence of the hobby of coin roll hunting in later years as collectors scoured old rolls of coins for silver. The Act also eliminated the process of placing minmarks on coins, which wouldn’t return until 1968.

Coinage Act of 1965 is Signed by President

Washington – President Lyndon Johnson has signed into law the Coinage Act of 1965. By a record vote of 255 to 151 the House of Representatives passed the Administration request on July 14.

The Bill provides for the new coinage of the United States made necessary by the critical shortage of silver.

Mint Marks and Dates

The current coins will continue to be minted until sufficient quantity of “clad” coins have been struck. The new law requires that all the coins minted after the passage of the Coinage Act of 1965 from 900 fine silver shall continue to be inscribed with the date 1964. All other coins shall be inscribed with the year of the coinage of issuance unless the Secretary of the Treasury, in order to prevent of alleviate a shortage of coins of any denomination, directs that the coins of that denomination continue to be inscribed with the last preceding year inscribed on those coins.

None of the new clad coins can be dated earlier than 1965 and no mint mark may be inscribed on any coins during a five year period beginning with the enactment of the Coinage Act of 1965, except that coins struck at the Denver Mint as authorized by law prior to such date may continue to be inscribed with that mint mark. In other words, for at least the next five years, the new clad coins will bear no mint marks at all. The 900 fine silver coins struck at Denver under prior authorization will continue to bear both the date 1964 ad the mint marks “D” until these coins are no longer struck.

No standard silver dollars may be minted during this five year period which begins on the date of the enactment of the Act.