THE 20-CENT PIECE

One sometimes hears collectors saying, and perhaps rightfully so, that the silver 20-cent piece of 1875–1878 was the 19th century equivalent of the Susan B. Anthony and other recent dollar coins. The whole idea of a 20-cent piece was poorly thought out and the public responded with a loud yawn. Still, to modern numismatists, it is an interesting chapter in the monetary history of this country and the coins themselves are sought after by many, especially for type sets.

The 20-cent piece was created because there was a glut of silver in this country during the 1870s. However, prior to 1843 virtually no silver was mined in this country and what little was obtained for some years after that date came primarily as a by-product of copper mining in the upper Midwest.

Where, then, did the silver come from that was used for the early United States coinage? It came almost entirely from imported bullion and coins, primarily the famous Spanish eight reales and later the Latin American national coinages, especially that of Mexico.

Even after 1843 there were only a few tens of thousands of ounces of silver produced each year in this country, hardly enough to keep a modern mint open for more than a few weeks. Beginning in the late 1840s, however, there was an increase in the amount of silver