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Silver Percentage US Vs Canadian Dollars

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Pillar of the Community
kbbpll's Avatar
United States
4233 Posts
 Posted 11/16/2015  01:35 am  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
wildflowerAB - The 5c went to .800 in 1920 along with everything else, but was still silver until 1922. What's odd to me is that in 1921 the US minted almost 87 million Morgans with no change in silver content, the highest mintage for this series. Meanwhile Canada went and created the 1921 50 cent thing by minting, holding, then melting. Seems like a lot of messing around going on, and the Great Depression on the horizon. Must have been interesting times, when money was worth more than money.
Pillar of the Community
Canada
1984 Posts
 Posted 11/16/2015  08:09 am  Show Profile   Bookmark this reply Add Smallcentguy to your friends list Get a Link to this Reply
kbbpli: Oops....I had the decimal off.....yes it looks like the value was over face.
Pillar of the Community
Canada
2845 Posts
 Posted 11/16/2015  08:55 am  Show Profile   Bookmark this reply Add wildflowerAB to your friends list Get a Link to this Reply
Kbb yes I also suspect there was some skulduggery happening as well. History would be much more interesting if it wasn't always so cleansed before it hits a blank page.

Somewhere in my reading I noticed the US specifically passed legislation in about 1918 that made it illegal for anyone to export coins for melt, yet Canada knowingly allows this to happen, only takes action when the price of silver finally rises too high? As pointless as minting coin for melt appears on the surface, it obviously enabled RCM to produce higher volumes, buy more silver, etc. Then there's the added possibility of gold and silver global price manipulation......what really occurred in and around 1919 would make for a really interesting study.
Bedrock of the Community
sel_69l's Avatar
Australia
21786 Posts
 Posted 11/16/2015  3:59 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Certainly, there was a spike in the World bullion silver price in 1920.
The British government had to reduce the fineness of silver circulating coinage from .925 to .500 in that year.

The South African Government introduced an indigenous coinage in 1923, with an 800 silver standard.
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