When A Coin Needs To Be Retired - Coin Community Forum

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Author	Replies: 4 / Views: 933
newdavid Valued Member United States 191 Posts	Posted 01/03/2007 8:44 pm Who decides when a coin needs to be withdrawn from circulation? Do banks send coins to the mint and the mint decides? If so and the mint receives any pre 64 90% silver do you think they would keep and melt even if it is still in good enough shape to be in circulation. Just kinda curious. How much pre 64 coinage could still be sitting in bank vaults? Sorry I guess thats alot of questions for one topic. If anyone can answer one or all I would appreciate. Report this Post to the Staff

tiddyathome Valued Member Australia 252 Posts	Posted 01/03/2007 9:22 pm I am not sure in the US but in Australia the banks send them back to the mint. The mint then melts them down into bars and they get reused in other things or sold to other countries. Hope this helps Report this Post to the Staff
p91 New Member 31 Posts	Posted 01/04/2007 01:59 am I've been wondering about this too. and about machines that determine silver coins out of clad. you would think it would be in the bank/governments interest to do so. I hope not :( Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 01/04/2007 02:54 am they do the same thing in the US, the banks slowly take the coins out of circulation and then send them back to the mint Report this Post to the Staff
p91 New Member 31 Posts	Posted 01/04/2007 04:09 am they must have machines that go through the change? Report this Post to the Staff
	Replies: 4 / Views: 933

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