Silver: Coins and the Space Age

From the Historical record. Mid 1960s

Curated by Our Illuminated Ape

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Silver: Coins and the Space Age (Oct 1966)

But as 1964 progressed, consumption of Silver came to exceed all earlier expectations, and it became readily apparent that even the Act of 1963 had failed to provide a lasting solution to the Treasury’s problems.

The US Mint intentionally flooded the market with 1964 Silver coins to literally trick investors into parting with their hoards of Silver.

Evidence that the price of Silver has always been fought to be keep low.

According to industry sources, approximately three quarters of the silver used in this field went into voltage connections for such important uses as space-vehicle guidance systems and military electronic systems, and for these uses there is no known substitute for Silver.

The US Treasury officials were convinced in 1966 that they could use the nations stockpiled Silver supply to 'keep the lid on prices for some time to come'. “Analysis of supply and demand factors does not yield any precise estimate of the level that silver prices might reach in a free market.” — Yvonne Levy