Demand for the Kennedy half dollar as a collectable drove it from circulation after its debut in 1964. The silver in a dollar's worth of quarters would be worth more as bullion than as money if the price of the metal rose past $1.38 per ounce, and there was widespread hoarding of silver coins. The early 1960s was a time of increased use of silver both in the coinage and in industry, putting pressure on the price of silver, which was capped at just over $1.29 per ounce by government sales at that price. There had been coin shortages beginning in 1959, and the United States Bureau of the Mint expanded production to try to meet demand. It also reduced the silver content of the half dollar from 90 percent to 40 percent silver in the half dollar was subsequently eliminated by a 1970 law. 254, enacted July 23, 1965, eliminated silver from the circulating United States dime (ten-cent piece) and quarter dollar coins. Tooltip Public Law (United States) 89–81, 79 Stat. Signed into law by President Lyndon B.Senate agreed to House amendment on July 15, 1965 (passed).Passed the House on July 14, 1965 (255–151) with amendment.Committee consideration by Senate Committee on Banking and Currency. ![]() Willis Robertson ( D– VA) on June 3, 1965
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