The absence of mint marks on U.S. coins from 1965 to 1967 marked a unique chapter in American history driven by economic pressures, legislative actions, and strategic Mint decisions. This brief period reflected broad economic trends and demonstrated the government’s response to a critical coin shortage.
Mint Marks Before 1965: A Quick Overview
The use of mint marks in the United States dates to a March 3, 1835 Congressional Act that established the first official branch Mints. When the Mint opened facilities in Charlotte, Dahlonega, and New Orleans in 1838, mint marks were used to identify the source of the coins. However, the Philadelphia Mint branch, the original and oldest U.S. Mint office, did not use a mint mark, a tradition that continued.
When nickel was temporarily removed from five-cent coins in 1942, the Philadelphia Mint employed a P mint mark. This appeared above Monticello on wartime nickels, signifying the change in composition. After the war, the original alloy returned, and the P disappeared until the release of the Susan B. Anthony dollar in 1979. Since 1980, all denominations except the cent include a P when struck in Philadelphia.
Mint marks were traditionally placed on the reverse of U.S. coins, but that changed in 1968 when the Mint restored them and moved them to the obverse.
Why Were Mint Marks Removed?
In the early 1960s, the United States was experiencing a coin shortage. Demand for coins surged due to the expanding economy, but the supply dropped sharply as rising silver prices prompted mass hoarding. When silver prices surpassed the $1-per-ounce mark, the intrinsic metal value of constitutional silver coins like dimes, quarters, and half dollars exceeded their face value.
The Coinage Act of 1965 and Its Impact
The Coinage Act of 1965 was the legislative response to the growing crisis in U.S. coin circulation. It was driven by the rise in silver prices and widespread public hoarding of silver coinage and was designed to stabilize the coin supply, lower production costs, and discourage speculative collecting.
Among its provisions, the U.S. Mint began producing copper-nickel clad dimes and quarters in 1965 before removing silver from those denominations altogether. The silver content in half dollars was reduced from 90% to 40%, a transitional step toward eventually phasing silver out of circulating coins.
The Coinage Act of 1965 and Its Impact
The Coinage Act of 1965 was the legislative response to the growing crisis in U.S. coin circulation. It was driven by the rise in silver prices and widespread public hoarding of silver coinage and was designed to stabilize the coin supply, lower production costs, and discourage speculative collecting.
Among its provisions, the U.S. Mint began producing copper-nickel clad dimes and quarters in 1965 before removing silver from those denominations altogether. The silver content in half dollars was reduced from 90% to 40%, a transitional step toward eventually phasing silver out of circulating coins.
Impact and Legacy
Copper-nickel clad coins began entering circulation in late 1965. For a short time, they circulated alongside silver issues, which were eventually removed. The Act marked a turning point in U.S. coinage toward cost-effective minting practices.
Minting Without Mint Marks (1965–1967)
From 1965 through 1967, no circulating U.S. coins had mint marks, regardless of where they were struck. This made it impossible to distinguish coins from Philadelphia, Denver, or San Francisco and was intended to eliminate collector-based hoarding. In an unusual twist, many 1965 and 1966 coins were dated 1964 to reduce speculation. Lincoln cents and Jefferson nickels with the 1964 date were struck well into 1965, and coins dated 1965 were produced through mid-1966.
Return to Mint Marks
In 1968, mint marks were restored to U.S. coins, although they were moved from the reverse to the obverse.
Collector Reactions
- Disappointment and Frustration: Collectors missed mint marks, which had long added variety and value.
- Blame for Coin Shortage: Officials partially blamed collectors for hoarding, which influenced the decision to remove mint marks.
- Historical Significance: Over time, the no-mintmark coins gained historical value.
Collectible Value
While common, 1965–1967 coins are prized for their context and story.
The Legacy of the 1965–1967 No-Mintmark Era
The removal of mint marks from U.S. coins between 1965 and 1967 was a calculated response to a financial and operational crisis. While they are not rare, 1965–1967 no-mintmark coins illustrate a unique historical moment when coinage policy pivoted in real time to meet economic pressures.
The legacy of no mintmark coins is not one of scarcity but of significance.
