[Retain Mike]

I remember that as long as the government issued silver certificates you could take them to a Federal Reserve Bank and trade them for plastic packets of raw silver. However, I don’t remember hearing anything about the percent of silver.

Eliminating “lawful money” was a nice touch. That statement is now equivalent to that made by made by any sub-Sahara dictator.

[Smokin' Joe]

The 90% was the amount of silver in dimes, quarters, halves, and the rare silver dollar that you could exchange the paper for at the bank. After ‘64, that dried up pretty fast when the clad coinage came out. Only the half dollar retained 40% silver until 1970, after that no new coins except special strikes were of silver.