Tuesday, October 28, 2014

2011-P Rutherford B. Hayes Dollar

Rutherford B. Hayes was good for coin and currency at least for a while. He restored the gold standard, limited the silver coinage, and let people turn in greenbacks for gold. This was kind of shortsighted.

The public at the time got use to paper money and trusted the government backed currency, even more after people successfully cashed out there greenbacks for gold. So as gold grew stronger poorer people and people who did daily business needed silver and paper more. Eventually the gold standard kind of backfired so as electronic money becomes more popular I doubt making gold a standard again will turn people to metal over convenience.

Here's the stats...
Type/Country: 1 Dollar-Franklin Pierce / United States
Year: 2011 P (Edge upside down)
Mintage: 37,660,000
Metal: 88.5% Copper, 6% Zinc, 3.5% Manganese, and 2% Nickel
Value: $1.00 in F-12

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