The Administration: Silverless Lining

One money-making Government operation is making money. Thus the nationwide coin shortage is actually a boon for the Administration, which has embarked on a crash program to double the Treasury output at the Department's two mints (Philadelphia and Denver). A far richer windfall for the Government, however, is the Coinage Act of 1965, passed by Congress in July to cut the multimillion-ounce yearly drain from the U.S.'s dwindling silver supply.* The law stipulates that all new dimes and quarters must be silverless and the silver content of half dollars trimmed from 90% to 40% .

As a result, the Government,...

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