Leonard - 1922
Private
Updated:
7/25/2023
Views: 746
In 1922, only 6 US coins entered into production, 2 at each of the three mints (Philadelphia, Denver, and San Francisco.). Only Denver produced the Lincoln Wheat cent. The relatively new Peace dollar was produced at all three mints, and the $20 Gold Double Eagle St. Gaudens was produced in Philadelphia and San Francisco. A seventh "coin" emerged as the dies wore down on some Denver-minted Lincoln Wheat cents and the "D" was not present. In most other years this would be rather unremarkable since it would be indistinguishable from the Philadelphia-minted coin. However there were no Philadelphia-minted Lincoln Wheat cents and the "No-D" coin became unique and is the most difficult to acquire in high grade for 1922.
After the end of World War I, the US saw two depressions that impacted US coin production in 1922. These recessions were due to a large demobilization of troops entering the civilian labor force as well as conversion to peace-time production. The second recession began in early 1920 and ran through mid-1921. The latter recession saw significant deflation and, as such, there was limited need for new coinage in 1922.
The Buffalo nickel had over 82 million produced in 1920, but was reduced to just over 12 million in 1921 before having no production in 1922.
The Mercury dime production was over 92 million in 1920, and fell to just over 2.3 million in 1921, and 0 in 1922,
The Standing Liberty Quarter had nearly 38 million produced in 1920, before sharply falling to just over 1.9 million in 1921 and nothing in 1922.
The Walking Liberty Half Dollar had production of 12.5 million in 1920, then dropping to just over 1 million in 1921, and nothing produced in 1922.
Even the Lincoln Wheat cent saw a significant reduction from over 405 million produced in 1920, to 54 million in 1921, to under 7.2 million in 1922. It should be noted that production of the 1922 D Lincoln Wheat cent only occured during January and February of that year.
The Peace dollar, however, after only a few days of production in 1921, had its largest mintage of over 84 million in 1922. The newly-minted Peace dollar was to commemorate the end of World War I and appease silver interest from the Western states. Over 44% of all Peace dollars minted were minted in 1922.
Also the $20 Gold Double Eagle St. Gaudens saw a large increase in mintage hitting over 4 million in 1922, with only 786,250 and 528,500 in 1920 and 1921, respectively.
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Leonard - 1922
By PDL57
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