The Annual Report of the Director of the Mint for the fiscal year ending June 30, 1961 reported that zinc-coated steel coinage accomplished in 1943 at the Philadelphia, Denver, and San Francisco mints amounted to 1,093,838,670 pieces with a face value of $10,938,386.70. Beginning in 1945 the Treasury Department began withdrawing these pieces from circulation.
In the first year of the effort, some 690,281 coins were taken from the channels of commerce. Withdrawals continued to mount, with the peak occurring in 1950 when the total withdrawal amounted to 15,655,891 coins at the Philadelphia Mint, 7,206,398 at the San Francisco Mint, and 6,265,150 at Denver, for a total withdrawal of 29,127,439 coins. No attention was paid to the mintmarks withdrawn. As of June 30, 1961, the total amount of unredeemed pieces amounted to 934,156,425 coins with a face value of $9,341,564.25.
Q. David Bowers has been in the rare coin business since 1953 when he was a teenager. The author has served as president of the American Numismatic Association (1983-1985) and president of the Professional Numismatists Guild (1977-1979), is a recipient of the highest honor bestowed by the ANA (the Farran Zerbe Award), was the first ANA member to be named Numismatist of the Year (1995), has been inducted into the Numismatic Hall of Fame (at the ANA Headquarter in Colorado Springs), is a recipient of the highest honor bestowed by the Professional Numismatists Guild (The Founders' Award), and has received more "Book of the Year Award" and "Best Columnist" honors given by the Numismatic Literary Guild than any other writer. He has has written over 40 books, hundreds of auction and other catalogues, and several thousand articles.
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