Why are so many nickels from 1964?

[spidey07]

What was so special about 1964? Without fail if I get a nickel that looks a little bit worn a majority of the time it is minted 1964.

 

[6StringSamurai]

http://www.coinfacts.com/Nickels/jefferson_nickels/1964_jefferson_nickel.htm

 

[0]

because I was born that year!

 

[DeadByDawn]

Originally posted by: 6StringSamurai
http://www.coinfacts.com/Nickels/jefferson_nickels/1964_jefferson_nickel.htm

that's a lot of nickels

 

[6StringSamurai]

Alot more than was minted in 63 or 65 upon further investigation

 

[6StringSamurai]

1960 - 55,416,000
1961 - 73,640,100
1962 - 97,384,000
1963 - 178,851,645
1964 - 1,028,622,762
1965 - 136,131,380
1966 - 156,208,283

 

[jmcoreymv]

Must've left the nickle presses running overnight on accident...

 

[spidey07]

Originally posted by: 6StringSamurai
1960 - 55,416,000
1961 - 73,640,100
1962 - 97,384,000
1963 - 178,851,645
1964 - 1,028,622,762
1965 - 136,131,380
1966 - 156,208,283

That's a pretty big difference. Any ideas on why? Did the Treasury just go "WTF! We're out of nickels, crank 'em out!"

 

[6StringSamurai]

According to this page the difference is MUCH more.

http://en.wikipedia.org/wiki/United_States_Mint_coin_production

Cannot find any clue why, that page states production jumped from 136,131,380 to 1,815,919,922 then back down to 455,681,105 in '65. I bet I know what it was <shifty eyes> them damn aliens needed nickel for their new fleet of spaceships.

 

[FoBoT]

i think several cities put in bus service that year, so they needed more nickels to pay for the bus fare

 

[6StringSamurai]

AHA!!!!

Can you explain the policy about the dates that are stamped on United States coins?

Traditionally, all United States coins have been dated in the year of their production. This policy was interrupted, though, because of the coin shortage and the speculation in rolls and bags of coins that took place in 1964. As a result, Congress passed legislation so that after the calendar year 1964 coinage was produced, the United States Mint could still use the 1964 date. Starting in 1965, therefore, all denominations of United States coins continued to be struck with the 1964 date.

 

[spidey07]

Not only that but total coin production (all coins) jumped from 63 to 64 from 3.8B to 13.4B.

What in the world could have caused such a massive jump? Also it was the first year since 1935 that dollar coins were produced and the only year in that decade where they were.

 

[FoBoT]

isn't that when they STOPPED using silver in the silver coins?

maybe they were behind on making coins due to the excessive cost of the silver, then when they took out the silver, they needed to catch up , so they made a crapload more at the cheaper price (without the silver)

 

[Rubycon]

1964 was the last year dimes, quarters, half dollars and dollars were made with silver.

< born in '64.

 

[rivan]

Originally posted by: FoBoT
isn't that when they STOPPED using silver in the silver coins?

maybe they were behind on making coins due to the excessive cost of the silver, then when they took out the silver, they needed to catch up , so they made a crapload more at the cheaper price (without the silver)

That's exactly why... though it's pretty odd that it affected nickels too, instead of just dimes & up.

 

[0]

Originally posted by: MS Dawn
1964 was the last year dimes, quarters, half dollars and dollars were made with silver.

< born in '64.

actually proofs were still (and still are) made from silver.

<<< born in '64.

 

[Rubycon]

Originally posted by: 0

actually proofs were still (and still are) made from silver.

<<< born in '64.

Aren't proofs double struck too?

They are truly mirror finish. :Q

 

[JulesMaximus]

1964 was a good year for nickels.

 

[GuitarDaddy]

There was also a huge coin collection effort going on at the end of 1963 and the beginning of 1964 because of the phase out of silver coins. My dad was working at a bank at the time and I remember him talking about it. Essentially they were sending all incoming coins to the treasury for disposal and sending out only newly minted coins.

Many bank employees at this time where hording silver coins as they knew they would soon be very collectable

 

[dainthomas]

Originally posted by: MS Dawn
1964 was the last year dimes, quarters, half dollars and dollars were made with silver.

< born in '64.

I have a 64 quarter in my pocket. I thought it looked and sounded different than the other ones.

 

[cavemanmoron]

http://www.coinfacts.com/Nickels/jefferson_nickels/jefferson_nickels.html

1964
1,028,622,762
3,950,762

1964-D
1,787,297,160

thats almost 3 billion??? between the Phil. and Denver mints, WOw.

 

[Captante]

Originally posted by: 0
because I was born that year!

Seconded!

 

[madworm]

Kennedy was assasinated the year before...and election year was also on 1964. and...the Civil Rights Acts of 1964 was landmarked...

 

[kranky]

Originally posted by: MS Dawn
1964 was the last year dimes, quarters, half dollars and dollars were made with silver.

Originally posted by: 0
actually proofs were still (and still are) made from silver.

Half dollars contained 40% silver (as opposed to the original 90%) until 1970. And not all proofs are silver. They make current proof sets in both silver and in clad versions.

 

[spidey07]

Originally posted by: GuitarDaddy
There was also a huge coin collection effort going on at the end of 1963 and the beginning of 1964 because of the phase out of silver coins. My dad was working at a bank at the time and I remember him talking about it. Essentially they were sending all incoming coins to the treasury for disposal and sending out only newly minted coins.

Many bank employees at this time where hording silver coins as they knew they would soon be very collectable

This sounds like sound anecdotal evidence. (not a slam, but I can't find hard facts as to why and your post offers some reasoning). If that is the case and they were just replacing the currency it starts to make more sense. It would ring true why so many coins, not just nickels, were produced. Out with the old, in with the new. But how did the price of silver affect this move? What bill/law forced this move?

So the switch away from silver played a role in increased production coupled with a push for coin collecting. And then we have the legislation on stamping of the date.

But good golly, that is a BIG swing in production of all coins in 1964 with the nickel outpacing other coin production. I really am curious here to find the bullseye because everytime I get a worn nickel I mentally say "bet it's 1964", and sure enough...1964.