 On August 3 , 1964 , Congress passed legislation providing for the striking of 45 @,@ 000 @,@ 000 silver dollars . Coins , including the silver dollar , had become scarce due to hoarding as the price of silver rose past the point at which a silver dollar was worth more as bullion than as currency . The new pieces were intended to be used at Nevada casinos and elsewhere in the West where " hard money " was popular . Many in the numismatic press complained that the issue would only satisfy a small special interest , and would do nothing to alleviate the general coin shortage . Much of the pressure for the coins to be struck was being applied by the Senate Majority Leader , Mike Mansfield ( Democrat – Montana ) , who represented a state that heavily used silver dollars . Preparations for the striking proceeded at a reluctant Mint Bureau . Some working dies had survived Sinnock 's 1937 destruction order , but were found to be in poor condition , and Mint Assistant Engraver ( later Chief Engraver ) Frank Gasparro was authorized to produce new ones . Mint officials had also considered using Morgan 's design ; this idea was dropped and Gasparro replicated the Peace dollar dies . The reverse dies all bore Denver mintmarks ; as the coins were slated for circulation in the West , it was deemed logical to strike them nearby . 
