1870 saw the installation of the 50-cent piece into circulation. Like the smaller silver coinage, costs of production caused an eventual decline in the silver content, with 1967 being the last silver circulating issue. In the 1920's the small demand for the "half dollar" caused no coins to be issued from 1922 to 1928. In 1921, the Master of the Mint made the decision to melt that year's entire mintage and did not restrike another until 1929. This decision caused a tremendous rarity in modern coinage with only about 75 1921 halves believed to still exist today.