Numismatic News

Collectors Blamed for 1960s Coin Shortage

Faced with coin shortages and rising silver prices, in the mid-1960s the U.S. Mint went into overdrive to try to keep up with demand.

“The Treasury Department has reported the first month’s results of its program to double coin production during the current fiscal year,” recorded the December 1964 issue of magazine. “In July, the two mints in Philadelphia and Denver turned out 458.4 million coins — 77 percent higher than the same month last year. Production of quarters was 165 percent higher. Dime production rose 265 percent. “Still larger increases are expected this fall. The Denver and Philadelphia Mints are converting to additional coin press operations the space and facilities formerly used for production of nickel and bronze ‘strip.’ The latter materials are now being bought

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