So when did silver start to begin HTF

[GranvilleATPro]

So when did silver begin to be HTF

Kind of an off beat question I have always wondered about. For those who were old enough to have change in their pockets during the 60's, how quickly did silver begin disappearing in folks regular change. Just curious to know cause lets say a property or house is circa late 60's, what likelihood would there to be silver. I was born in '69 and would not have known when silver began disappearing or know when people realized they better start looking for it or holding on to it.

 

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[Mackaydon]

You may wish to read up on Gresham's Law--as it applied to the debasement of US currency --clad.
Then read about the Hunt Brothers' experience in 1979/1980 when silver prices went from $6.00 to $48.70 during '79 then in early 1980 (due to a change in the laws regarding leverage and margin loans), the price of silver went down 50% --IN FOUR DAYS.

But as the price of silver rose during 1979 you could see lines of customers lining up outside 'we buy silver' stores; turning in coins and silverware. At one time I was even selling $1.00 silver certificate bills for $1.50; not bad since I was working at a bank at the time. Most silver coins at that time were not worth the melt value of silver--so they was melted; gone forever.
Don.......

 

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[RobRieman]

I can remember in the early 1960's bicycling to the local corner store where the owner was nice enough to let me sort through his register change to look for silver and other coins. I was 10 to 12 at the time. Gave up on that when I got my learners permit

In the early 60's every shiny coin was made of silver unless you were checking the nickel drawer.

 

[PullTabPete]

Interesting thread. I always wondered what it was like when they changed to clad. I was born in 1966 so I obviously am too young to remember. By the the mid 70's I was into coin collecting and checking all my paper route money without any success. By the late 70's and early 80's when silver went crazy every body was looking for it. I sold a lot of mine at high prices and bought baseball cards. Someday I have to go through those, I do have some pretty valuable ones.

I recently found out about a book called "Wooden Nickels" by William Rickenbacker that was written in 1966 and described the history of silver coinage and the (then) recent changeover to clad. It is fairly interesting, but can get kind of too textbook like at times. I found it used on Amazon for like $5. The book discusses Gresham's Law like Mackaydon referenced.

I know I would have been hoarding silver back then.

HH,

Pete