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Where's The Silver?

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Valued Member

United States
324 Posts
 Posted 06/18/2008  5:12 pm Show Profile   Bookmark this topic Add mkb to your friends list Get a Link to this Message Number of Subscribers
Ever wonder what happened to all the silver coins issued in Canada? Most of them were melted down at one point or another. The melting of coins was an ongoing problem, but the first real big melt-down did not occur until 1919-1920 when silver prices rose and the Canadian dollar dropped relative to silver prices. See:


Image: Where's-The-Silver??? NYTimes1919.jpg
86.27 KB

This prompted a change to .800 silver content from .925 silver content.

The next big melt down came in 1968 when silver prices rose dramatically. This prompted a change to nickel coinage. The third big melt-down occurred in the late 1970's to early 1980's. By then, very little of the original silver coinage was left.

Some of the coins of course were lost and some were withdrawn due to wear. Likely, even the Canadian mint withdrew and melted silver coinage in 1968 and onwards just as they have been withdrawing and melting the near pure nickel coinage issued prior to 2000.
Valued Member
United States
161 Posts
 Posted 06/19/2008  10:48 pm  Show Profile   Bookmark this reply Add Libertad Peso to your friends list Get a Link to this Reply
They are all over ebay. I also find them regularly in the foreign coin boxes at a dealer in NC. I pay bullion prices or less for most of them. Even got 2 Victorias today for a tad over bullion.
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bibd's Avatar
Canada
838 Posts
 Posted 06/20/2008  03:14 am  Show Profile   Bookmark this reply Add bibd to your friends list Get a Link to this Reply
That's cool you get our old Canadian silver coins in foreign boxes so cheaply. Sometimes, I find Seated Liberty dimes or Shield nickels showing up in foreign boxes here in Canada. Being a U.S. collector, I snatch them up, even if they are doubles.
New Member
Canada
40 Posts
 Posted 08/09/2008  10:52 am  Show Profile   Bookmark this reply Add johnnydee to your friends list Get a Link to this Reply
Thanks for that helpful information everybody.
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daviscfad's Avatar
United States
4541 Posts
 Posted 08/17/2008  01:20 am  Show Profile   Bookmark this reply Add daviscfad to your friends list Get a Link to this Reply
Speaking of melting coins:::
Can you melt the .999 nickels legally in the US?
Edited by daviscfad
08/17/2008 01:20 am
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Jaobler's Avatar
United States
6396 Posts
 Posted 08/24/2008  5:13 pm  Show Profile   Bookmark this reply Add Jaobler to your friends list Get a Link to this Reply
Here's a question: do the obsolete silver coins show up in roll searches of Canada coins? I can sometimes find 40% silver and even the occasional 90% silver US half dollars in rolls purchased from the bank. Are Canadian collectors making any similar finds?
Valued Member
United States
324 Posts
 Posted 08/25/2008  2:54 pm  Show Profile   Bookmark this reply Add mkb to your friends list Get a Link to this Reply
"Can you melt the .999 nickels legally in the US?"

You can't melt US nickels in the US, but the US law does not apply to foreign coins, and I doubt there is a law for foreign coins. In Canada though, you cannot melt Canadian 5c coins.
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daviscfad's Avatar
United States
4541 Posts
 Posted 08/25/2008  5:57 pm  Show Profile   Bookmark this reply Add daviscfad to your friends list Get a Link to this Reply

Quote:

You can't melt US nickels in the US, but the US law does not apply to foreign coins, and I doubt there is a law for foreign coins. In Canada though, you cannot melt Canadian 5c coins.

When I said .999 nickels I was saying the canadians in the US. but I didnt think it would be a problem
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