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Replies: 12 / Views: 1,624 |
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Pillar of the Community
United States
1215 Posts |
What are some countries and denominations that have most recently stopped silver from their circulating coinage?
I know Mexico in 1994, and before in 1979.
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Pillar of the Community
Canada
1747 Posts |
Canada was 1968 (50% silver dimes and quarters) There were also nickel versions minted for the same year.
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Bedrock of the Community
Australia
21786 Posts |
Mexico, 1992-5 .925 silver centred $10 and $20 NP were the last issued for circulation anywhere in the World. They were some sort of short lived 'silver revival'. They did not last long in circulation. Cupronickel cored coins followed from 2000, and Greshams Law then applied. Does anybody within the CCF know how long they lasted in circulation?
Before then,
Germany, 5 Marks, 1974. Next year was NCLT Immanuel Kant commemorative, but commonly available through the banks.
Austria, 10 Schillings, 1973.
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How long, for practical purposes, did the U.S. .400 clad Halves last in circulation?
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Bedrock of the Community
United Kingdom
17933 Posts |
Quote: Does anybody within the CCF know how long they lasted in circulation? I got a silver-centred 20 peso coin from a bank in Huatulco last October, when I exchanged some money and asked the teller for some $20 coins. I asked if she had any others, but they were all cupro-nickel centre ones.
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Pillar of the Community
Canada
2805 Posts |
Mexico still issues "circulating" N$100 coins with a silver center. Sometimes you see them with a little bit of wear. But I don't think they're used every day (especially when they have to contend with $20, $50, and $100 notes) and most people would probably take them out of circulation.
Still, these might win the "silver coins that we pretend circulate" award.
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Moderator
 Australia
16829 Posts |
By 1969, practically every country in the world had abandoned silver coinage - the continuous postwar price rises leading up to the Silver Spike had convinced every government that silver was now an unviable coinage metal. The (West) Germans kept making their 5 mark coins up until 1974, but were making them at a serious loss by then and hoarders were acquiring them faster than they could be made.
Mexico is an unusual situation of an economically poor country with a large silver output. As a result they have a powerful silver lobby there, which has twice persuaded the government there that putting silver back into circulation would be a miracle cure for the economy and prevent the slide of the peso. Both times they've tried it, it hasn't worked - the peso kept sliding, and when the metal content exceeded face value, they all disappeared from circulation, pronto.
The second time, in the 1990s, they hoped that using the silver as the core of a bimetallic coin would make destroying them for their bullion content too difficult and prevent their getting lost in the melting pot. It didn't work; people simply punched out the silver cores and melted those.
Some countries (eg. Germany, France, Austria) continued making "face value" silver coins, some selling them through the banks. But they were the equivalent of the modern Canadian "$20 for $20" programme, intended for collectors and never considered "circulation" in any significant sense.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United Kingdom
1319 Posts |
Hungary 200 Forint 1992 to 1994 were issued for circulation and did!
Edited by andyg 02/24/2015 6:04 pm
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Pillar of the Community
Canada
2805 Posts |
Quote: I asked if she had any others, but they were all cupro-nickel centre ones. Should have picked them up! The $20 note gets more use than the $20 coin, and I've heard from more than one trade partner in Mexico that they're hard to come by outside the capital and cost more than $20 to buy (especially certain dates). And there have been at least 4 new types issued since 2010, which makes the collection more interesting.
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Bedrock of the Community
United Kingdom
17933 Posts |
Quote: Should have picked them up! I did - all 2014 ones of the same type - "Centennial of the Heroic Deed of the Port of Veracruz"
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Bedrock of the Community
Australia
21786 Posts |
Krause reports approximately 11 million 200 Forint 50% fine .193 ASW silver coins were minted in the years 1992 to 1994 inclusive. That's 66 tonnes of silver that went into the production of coin for those years. That much consumption of silver indicates 'issued for circulation'.
A good reason why I will look for an example of a 200 Forint for my collection.
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Pillar of the Community
United States
2637 Posts |
Quote: How long, for practical purposes, did the U.S. .400 clad Halves last in circulation? In 2000, I had someone offer me some 40% halves, but I demurred (I think the silver content was $.90 each, and I didn't have a ready market). You can still find plenty of 40% halves today in the wild, if you are patient. Picked up $9.00 face (for $9) a couple months ago from a local bank -- they were not even rolled. Many do not recognize the difference between a 40% and a cupronickel.
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Pillar of the Community
2087 Posts |
A few years ago( not more than 10) Austria was producing €5.00 coins that could be used for general circulation. I saw a few advertisements pushing the point......but despite being legal to circulate they didn't. Rhetorical question: Who would spend a Silver €5.00 coin when they could spend a plastic note instead! When the silver price pushed the value of the silver in the coin over €5.00 they switched to copper....likewise the copper coins don't circulate. I saw someone showing off a copper €5.00 coin in the local Tabak a couple of years ago. The shop owner was very prepared to take it in payment but they guy refused to part with it
Edited by austrokiwi 02/26/2015 10:01 am
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Pillar of the Community
Belgium
1194 Posts |
Belgium 1976 , coins of 250 BF at Ag 835 , Cu 165 ,weight 25 gr = 20,875 gr silver ; this coins were immediatly collected and never circulated . albert
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Replies: 12 / Views: 1,624 |
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