Posted by
Walter Durham | Friday, July 28, 2017 |
In 1893, the United States witnessed one of the worst economic depressions in its history, known today as the panic of 1893. The national unemployment rate jumped to 11.7% and nearly 600 banking institutions closed. As a result, silver prices fell significantly and confidence in silver as well as the demand for silver coinage fell too. Production of silver dollars at all U.S. Mints saw a sharp decline from 1892 to 1893. For example, in 1892, the U.S. Mint struck over 6.3 million Morgan Silver...