I came across this brochure that I acquired years ago and had just tucked away. It was put out by the American Bankers Association in 1965 to prepare the public for the
new clad coinage.
Like nearly all publications addressing the changeover it tries to assure readers that the silver coins will not go up in value enough to justify saving them and that the
hoarding of silver coins will not be cost-effective. Both the government and the banking industry stuck to the script by proclaiming that the older coins would circulate alongside
the new pieces for many years to come. I recall from my own collecting experience that silver became increasingly scarce during 1966-67, and it disappeared nearly overnight after
the period for redeeming silver certificates ended in mid-1968. These were my formative years in the hobby, and it was quite discouraging to have even the common coins from the
1950s-60s vanish.
Thanks! Nice piece of numismatic ephemera. It's a tortured piece of blatant propaganda. Their explanation of Gresham's Law is laughable and their answer to "Will
Gresham's law hamper our new coinage system?" is (of course) "no".
I was eight years old in 1966, and I remember my grandmother showing me a new clad coin and telling me about the changeover from silver. A few years later I started a paper
route and kept all the silver coins that came my way. -Editor