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Replies: 26 / Views: 4,141 |
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Valued Member
United States
306 Posts |
It's official- the 2016 proof and burnished eagle will have smooth edges with lettering that is yet to be announced. Also the mint has been given definitive authority to change silver commems and the silver coins in proof sets from 0.90 to 0.999%. Not terribly excited about either unless they think of some other worthwhile difference for the 30th ASE.
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Pillar of the Community
United States
7390 Posts |
I heard it passed. Now the question is will they fit in album holes without rattling?
Edited by Cascade 12/07/2015 10:07 pm
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Pillar of the Community
United States
4409 Posts |
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Pillar of the Community
United States
1911 Posts |
I heard others saying .999 silver proof sets and commems, but it never specifically stated that. It could be sterling silver 92.5% or could it even possibly be just a change in wording and they keep it at the 90%?
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Bedrock of the Community
 United States
12815 Posts |
I sure hope they keep the MM and date on the reverse/obverse...
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Moderator
 United States
187864 Posts |
Quote: I sure hope they keep the MM and date on the reverse/obverse... The legislation says nothing about moving the date, only adding a special inscription only on the numismatic versions, not the bullion. Quote: I heard others saying .999 silver proof sets and commems, but it never specifically stated that. It could be sterling silver 92.5% or could it even possibly be just a change in wording and they keep it at the 90%? It simply sets a minimum silver content for coins at 90%. It does not mandate (or even encourage) 99.9%, it just no longer prevents it, as it was with a mandated 90% silver + 10% copper requirement. However, it is more interesting to note that the legislation removed the 10% copper requirement for silver coins. This could be a ploy to get 90% silver + 10% zinc coins.  I kid, I kid.  I hope. 
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Pillar of the Community
United States
562 Posts |
Ugh...90 percent silver / 10 percent zinc coins would turn that ugly grey wartime Jefferson nickels have. Frankly, I'm just happy Congress gave up some decision making to the Treasury for coins. All too often, the Mint has had its hand tied with regards to silver coins because that authority is with Congress. Case in point, the 2015 UHR was a possibility in silver as well, but didn't happen because such a coin would have to be dictated in a signed bill.
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Moderator
 United States
187864 Posts |
Quote:Ugh...90 percent silver / 10 percent zinc coins would turn that ugly grey wartime Jefferson nickels have. How about 90% silver and 10% manganese? I am sure they have some manganese sitting around from unmade planchets for the reduced mintage dollar coins.  However, there is more zinc than manganese in the dollars. Also, if we quit minting cents, there will be plenty more zinc for all of those silver coins.  Quote: Case in point, the 2015 UHR was a possibility in silver as well, but didn't happen because such a coin would have to be dictated in a signed bill. Agreed. Would have loved to see that one in silver.
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Valued Member
 United States
306 Posts |
I know the law doesn't make reference to going to 99.9% but if I'm not mistaken, the mint had previously expressed an interest in going to 99.9% due to expected cost savings on planchet production.
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Pillar of the Community
United States
7390 Posts |
Exactly Vet, it was a cost saving measure to preclude an extra "step" and probably to get more on the back end too with a higher seigniorage. It was a good move imo as well as making it "no less than" 90% to give the mint a bit of leeway
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Pillar of the Community
United States
1911 Posts |
Yeah making it .999 I have heard would make it cheaper to produce (interesting since at first I would think "more silver = more expensive?") due to less metalurgy or whatever it is called. That would be pretty cool that some of my ATB Quarters would be .90 and other .999! :D
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Pillar of the Community
Canada
5324 Posts |
Most of the world's major mints has gone to 4 nines purity, it can't be that difficult and cost wise to produce pure silver planchets and are not most planchets made by Sunshine mint.
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Pillar of the Community
United States
1228 Posts |
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Moderator
 United States
187864 Posts |
Quote: ...and probably to get more on the back end too with a higher seigniorage. Seigniorage is not a consideration with collector items. However, if they are cheaper to make, higher profits would be expected.
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Pillar of the Community
United States
1228 Posts |
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Pillar of the Community
United States
5202 Posts |
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Replies: 26 / Views: 4,141 |