On the record
The silver dollar of 412½ grains, by reason of its bullion and intrinsic value being greater than its nominal value, long since ceased to be a coin of circulation, and is melted by manufacturers of silverware.
Source
gutenberg.orgThe silver dollar of 412½ grains, by reason of its bullion and intrinsic value being greater than its nominal value, long since ceased to be a coin of circulation, and is melted by manufacturers of silverware.
Sherman describes the decline of the silver dollar's circulation due to its intrinsic value exceeding its nominal value.
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