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.999 silver proofs?

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Valued Member
United States
193 Posts
 Posted 03/03/2012  7:33 pm Show Profile Bookmark this topic Add mwr1550 to your friends list Get a Link to this Message

I read recently that the mint was thinking about going to switch the content of the silver proofs from .900 to .999 silver due to the cost of getting the .900 planchets made. What is the forums take on this? I am of mixed opinion. On the one hand I like the original composition as it is historically what silver coins were made of. On the other hand I like the idea of getting the dime quarter and half in .999 silver.
I think the mint sees a money maker in this. They can get the plachets cheaper (probably) and they can charge more for the silver proof sets due to the higher silver composition.
Questions, comment, concerns?

Valued Member
United States
289 Posts
 Posted 03/03/2012  8:24 pm  Show Profile Bookmark this reply Add VetStudent to your friends list Get a Link to this Reply
I would like to see them keep the original, traditional, composition. But I also wouldn't pitch a fit over it if they do change to .999.
Valued Member
United States
167 Posts
 Posted 03/03/2012  8:47 pm  Show Profile Bookmark this reply Add ibab to your friends list Get a Link to this Reply
I agree - if they change it - they change it. Frankly I like the easier math for determining value based on .900

That said - perhaps if they are stamped right - as .999 - they would be able to make it into precious metals IRA. Which might be another side market for them.
Valued Member
United States
70 Posts
 Posted 03/03/2012  11:09 pm  Show Profile Bookmark this reply Add Ridge_Runner to your friends list Get a Link to this Reply
Good point @ibab. I like it for the simple fact that they're not turning them into complete garbage. If the government's budget called for cost saving measures at the mint, I would fully expect plastic coins or ones made from recycled tin cans. Instead, they're increasing the amount of silver in them. Thumbs up mint. I can live with that!
Pillar of the Community
Australia
9168 Posts
 Posted 03/04/2012  03:30 am  Show Profile Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Neither the .900 nor the .999's are meant for circulation, so why bother with accurate alloying?
I feel the market would prefer .999 coins of this nature anyway.
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Australia
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 Posted 03/04/2012  03:39 am  Show Profile Check trout1105's eBay Listings Bookmark this reply Add trout1105 to your friends list Get a Link to this Reply
That is probably why the roo,wombat and kookaburra coins enjoy a fair bit of popularity, good designs and .999 silver.
Those tacky awful dragon coins are .999 silver but in my opinion are bloody awful
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United States
3904 Posts
 Posted 03/04/2012  3:31 pm  Show Profile Bookmark this reply Add CaptainFwiffo to your friends list Get a Link to this Reply
I'd prefer they stick with a traditional coin-silver composition. They're numismatic products, not bullion products. I wish they switch to solid bronze for proof cents as well.
Valued Member
United States
156 Posts
 Posted 03/04/2012  5:43 pm  Show Profile Bookmark this reply Add Buzzard to your friends list Get a Link to this Reply
If they are going to change the composition of the silver proof sets, they should go the whole distance. How about solid bronze for the cent, .999 nickel for the nickel, and .999 silver for the dime, quarter, and half, with silver weights being exactly 1/10, 1/4, and 1/2 ounce?
Valued Member
United States
114 Posts
 Posted 03/04/2012  7:02 pm  Show Profile Bookmark this reply Add wvparadox to your friends list Get a Link to this Reply

Buzzard your idea for the dime quarter and half makes sense and would make it so much easier for the math impaired like me,
therefore the gubmnit will never do it
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United States
410 Posts
 Posted 03/04/2012  8:58 pm  Show Profile Bookmark this reply Add JSH to your friends list Get a Link to this Reply
I second Buzzard's motion? Shall we vote? :)
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United States
13141 Posts
 Posted 03/05/2012  1:49 pm  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Anyone ever wonder just how accurate those metal statistics are? Is it possible that the so called .900 is actually anywhere from .950 to .9999999? Isn't it possible that the Mint could say it is now .99999999999 and in reality it is .85? OR .897742? OR .90192993? Just how many people would have such a coin taken somewhere for verification anyway? I wonder how many at the Mint are sitting there laughing at such stories?
just carl
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United States
22108 Posts
 Posted 03/05/2012  4:15 pm  Show Profile Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I would like to see them keep the original, traditional, composition. But I also wouldn't pitch a fit over it if they do change to .999.
Pretty much how I feel. It will not upset me.
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United States
2214 Posts
 Posted 03/05/2012  11:23 pm  Show Profile Bookmark this reply Add commems to your friends list Get a Link to this Reply
#just carl: I think the metal composition of the coin planchets used by the US Mint is very accurate -- certainly more accurate than the ranges you've specified. Even without a formal Assay Commission, there are still checks and balances (and coinage laws) to ensure the metal composition of each coin is accurate and within tolerances.

Overall, I hope the Mint continues with the traditional 90% coin silver for the sets as there are a good number of other options for those looking to collect bullion. Not everything offered by the Mint needs to be 0.999 fine!
Collecting history, one commemorative coin (or medal) at a time!
Original content (c) Commems, 2012-2014
Valued Member
United States
333 Posts
 Posted 03/05/2012  11:32 pm  Show Profile Bookmark this reply Add coinut to your friends list Get a Link to this Reply
I'm slightly in favor of the .999 change but I can take it or leave it. Honestly I would rather they concentrate on creating some new, exciting designs and products.
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United States
2277 Posts
 Posted 03/06/2012  08:51 am  Show Profile Bookmark this reply Add wquinn to your friends list Get a Link to this Reply
Either way is fine with me. They probably could sell more sets if they went to .999.
Valued Member
United States
78 Posts
 Posted 03/09/2012  12:37 am  Show Profile Bookmark this reply Add corey9493 to your friends list Get a Link to this Reply
I prefer keeping it with the historical .900
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