\[\"The Department of the TREASURY NEWS\" banner, with \"The Department
of the Treasury 1789\" seal on right and \"BUREAU OF THE MINT; WASH.,
D.C. 20220 - W04-5011\" on 2nd line.\]

March 29, 1971

HOLD FOR RELEASE AT 11:00 AM, PST

[WEDNESDAY, MARCH 31, 1971]{.underline}

FIRST EISENHOWER SILVER DOLLARS

[PRODUCED AT SAN FRANCISCO]{.underline}

The first strike of the Eisenhower silver dollar coin took place today
at the United States Assay Office in San Francisco, California.

Eugene T. Rossides, Assistant Secretary of the Treasury for Enforcement
and Operations, and Mary T. Brooks, Director of the Mint, started
production of the first silver dollars to be produced since 1935. There
will be 130 million of these uncirculated coins for sale by the Mint at
\$3 each.

The San Francisco Assay Office, under the supervision of John F. Brekle,
Officer in Charge, will also produce 20 million Eisenhower proof coins
over a four-year period for sale at \$10 each.

Uncirculated coins are automatically fed to the coining presses and are
only struck once by the dies. Today four coin presses, capable of
stamping 240,000 dollar coins per 8-hour shift, began production of 130
million uncirculated silver dollars.

The San Francisco Assay Office expects to begin producing the proof
specimens of the Eisenhower silver dollars by July 1971. The Mint has
not struck a proof silver dollar coin since 1904 when 650 were made.
Proof silver dollars were struck consecutively from 1863 to 1904, and
the highest number made in one year was 1,355.

Proof coins are prized for their virtually flawless surface and
jewel-like quality. Their production requires the same painstaking
attention to detail as do fine pieces of expensive jewelry. The special
blanks are highly polished, hand-fed to a proof coining press and struck
twice by highly polished dies.

The press operator on an 8-hour shift produces regular proof coins at
the rate of approximately 1,500 per day. Because of the fine detail and
larger die surface to be polished, it is expected the press operator
will produce less of the Eisenhower proof coins per day. Proof coin dies
must be highly polished and are buffed during use to maintain the high
luster.

The silver-clad strip used today has an overall composition of 40
percent silver with the balance being copper. The Mint has contracted
for 12,500,000 pounds of the strip and each pound yields about 12
coinage blanks.

Order forms for the silver Eisenhower dollars, both proof and
uncirculated, will be available to the public on June 18, and the Mint
will begin accepting orders on July 1, 1971. The Mint plans to begin
filling orders in early August. Production of proof and uncirculated
Eisenhower silver coins will continue until all orders are filled or the
authorized production limit of 150 million is reached. Because of the
favorable and unprecedented public response to the issuance of the
silver Eisenhower dollars, several months may elapse between receipt and
filling of an order. The coins will be sent by first class, registered
mail.

The Mint plans to supply the silverless cupro-nickel clad Eisenhower
dollars to the Federal Reserve Banks in sufficient quantity for general
circulation at face value by the commercial banks by late fall.

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