Stupidity Watch 1

      Since the United States has domestic silver there has always been a push from western silver bearing states to use silver as money. In 1792 the silver to gold ratio was set at 15:1 which had been an international standard for 100s of years. Then in 1834 another Coinage Act was passed which changed the silver to gold ratio to 16:1, which resulted in the export of massive quantities of US silver coins to Europe where they could still be traded for gold at a 15:1 ratio. Between 1853 and 1873 US silver and gold miners could take their silver and gold to US Mints and have them turned into US coins, and both bullion and US coins were legal tender. Then the Coinage Act of 1873 demonetized silver bullion, ended the ability of silver miners to have an assured place to sell their silver, and established weights for US silver coins that would last for the next 91 years. Then just 5 years later in 1878 under enormous pressure from the silver producing states Cong...

     During World War II the US created billions of extra silver coins, from 1941/1942 - 1945 the US produced 1.5 billion mercury dimes out of a total production run of 2.67 billion over 32 years. Between 1942 and 1945 the US also produced 600 million Washington quarters and 300 million Walking Liberty halves (out of a total production of 485 million Walking Liberties over 32 years). That is exactly 150 million face value 90% silver dimes, 150 million face value 90% silver quarters, and 150 million face value 90% silver half dollars produced in only 4 years. In addition, the US produced 870 million 35% silver nickels during the war that had 1.75 grams of silver in each nickel, making them exchangeable with 90% silver dimes at a rate of 9 nickels for every 7 dimes because 90% silver Barber, Mercury, and Roosevelt dimes produced between 1892 and 1964 weigh 2.5 grams and have 2.25 grams of silver in each coin.      In total the US sequestered over 35...