Lyndon B. Johnson on Silver Coins

[SuburbiaStopPushing]

Lyndon B. Johnson on Silver Coins: VERY Interesting!

I stumbled upon this speech the other day and thought this community in particular would get a kick out of reading what our 36th President thought about removing silver from our coinage.

Some have asked whether our silver coins will disappear. The answer is very definitely-no.

Our present silver coins won't disappear and they won't even become rarities. We estimate that there are now 12 billion--I repeat, more than 12 billion silver dimes and quarters and half dollars that are now outstanding. We will make another billion before we halt production. And they will be used side-by-side with our new coins.

Since the life of a silver coin is about 25 years, we expect our traditional silver coins to be with us in large numbers for a long, long time.

If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content.

Anyone interested in reading the whole speech with more of his justification for the Coinage Act, it can be read here. Leaving all partisan politics aside, I think TreasureNet's very existence is a testament to the fact that he might have been a little off on that last point!

 

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[diggummup]

Lyndon Johnson was a drunken bum.

 

[DarioMontesdeOca]

Lol, nice share.

Time travel anyone?

 

[CoinFetcher]

I remember the day I realized they are all talking heads. Money is an important tool for control.

 

[Local_coins]

I remember the day I realized they are all talking heads. Money is an important tool for control.

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