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By Harvey Stack, Co-Founder

For Stack's, 1965 was a very demanding year. Beginning in this year, the U.S. Mint stopped making dimes and quarters out of silver and reduced the silver content of the half dollar to 40%. All the dimes, quarters and half dollars struck in 1964 or earlier were left in circulation by the Mint. Like all things that are predicted to become scarce, the public, collectors, and investors started to buy them up. Shortly after the announcement of change in the coins' make up by the Mint, hoarding began and such coins were removed from circulation. ​​

By Harvey Stack, Co-Founder

In 1964, the import regulations overseen by the Office of Gold and Silver Operations (OGSO) continued to cause difficulties within the coin hobby. In late spring, Stack's was offered an extensive and specialized collection of world gold coins that were to be sold in the United States. We received an itemized list of what it contained, about 900 gold coins including items from the 15th century up to the 20th century. We knew that it was an important collection that we would love to sell at public auction.​​

By Harvey Stack, Co-Founder

As 1964 began, Stack’s was coming off a very successful year in 1963. However, the new year was to bring various challenges to the coin hobby. First of all, Congress realized making U.S. coins – dimes, quarters, and half dollars -- was providing the silver almost at market price. From 1961 to 1963 the price of silver rose by some 20% and the Mint was virtually “giving away” the coins at close to or slightly above the value of the silver in each coin. ​​

By Harvey Stack, Co-Founder

George Walton's collection was amassed during his travels mostly through the Mid-Atlantic States. He was an appraiser for banks and estates, and he traveled over a large area, meeting bank officers and collectors, private people who had coins for sale that were unknown to the general market.

By Harvey Stack, Co-Founder

The year of 1962 had proved to be quite successful. We were pleased with the results of our first offering of the Samuel Wolfson Collection and we also had the feeling that 1963 would even be better, as there were several important offerings scheduled for our public auctions. In addition to having the Wolfson silver and copper coins already in house, we also had been tapped to sell the George Walton Collection, as Mr. Walton had died in a horrible accident the year before.​​

By Harvey Stack, Co-Founder

​The year 1962 continued to be a good one for Stack's and the hobby. In late spring we offered the Tice Family Collection, a valuable and comprehensive offering of U.S. coins. Then, in the summer, we got word that Mr. Samuel W. Wolfson desired to sell his collection, which he had devoted about a decade to building.

By Harvey Stack, Co-Founder

​Collectors learned that the Mint was still producing over three million Proof sets each year and that sales were not keeping up. Large stores were building up in the Mint's vaults. Rolls and bags of current issues of U.S. coins in Mint State lost much of their premium, and collectors returned to building collections of more classical coins. ​

By Harvey Stack, Co-Founder

As with everything in the world, nothing remains the same. The coin business grew quite successfully in the decade of the 1950s as more collectors entered the field after World War II. People had more time and money to devote to their hobbies and  build and maintain their collections. ​​

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