New law allowing for changes in 90% alloy

"Treasury Department and U.S. Mint officials now have authority to change the 90 percent silver and 10 percent copper alloy used for commemorative silver dollars and the coins in the annual Silver Proof sets."

http://www.coinworld.com/news/us-co...s-law-regulating-silver-coin-composition.html

Wonder how long before it's all 99.999

 

Log in or Sign up to hide this ad.

I read this this morning.

Big changes in the US Mint for next year... possible .999 silver issues, call for 1 oz palladium, reed-less ASE's, 100th anniversary 1916 silver coinage issues in gold versions, possible low presidential RP issues.. anyone else waiting eagerly?

 

Price increase to follow!

Chris

 

you know it!

 

I can see the mint making them both ways. That would give us more to pick from.

 

Looking forward to it!

 

The reason they want to go to 99.99% is because it will save some costs on refining because they start with 99.99 silver then add to it to get the 90%. So you may get more silver for your money.

 

I heard that they were trying to do this last year and now the legislation has come through for them. We'll soon see if it's gonna save the collector money. I doubt it.....

 

More milk spot candidates on the way.

 

I'll bet they did it because they were losing business to the Asian & Australian markets.

Chris

 

They are doing it because it will save them a ton of $$$$$! Why? Well they can get planchets already done at the .9999 and not have to worry about mixing anything (copper ,magnesium, Etc.) The Man hours & time would be huge! Second .9999 silver flows better into the dies which means less wear and tear on the dies and less cleaning of the dies = less dies & less man hours cleaning the dies (More huge savings) And last but not least they will charge more $$ because your getting more silver .9999 vs 90%

 

Potentially. The Mint claims that using fine silver over 90% will be easier and will result in more reliable quality with less reject waste and customer returned products.

 

Horsehockey!

>When was the last time a customer returned a 90% silver coin complaining that it was only 89% silver.

>Do you really think it is harder to blend an alloy of 90/10 as opposed to 99.9/.01?

That is just an excuse to raise prices!

Chris

 

http://www.coinnews.net/2015/12/08/us-mint-to-stop-making-90-silver-coins/

 

They don't "blend" a .999/.001 alloy. The metal come from the refiners as .999 fine.

 

I would like to see the Mercury Dime, Standing Liberty Quarter and Walking Liberty Half Dollar all in the original 90% silver, dated 2016...

How many of us regular collectors can afford GOLD?!

 

It doesn't matter who performs the "alloy mix", the customer pays for it in the end. Is it more expensive to produce an alloy of .900 pure silver as opposed to .999 pure silver?

You seem to be missing the point that the Mint is just looking for ways to increase their prices. It was very easy for the Mint to justify increases when the price of silver was going up and up, but have they dropped prices after silver declined? No! So, after a couple of years of continuous decline, how can they justify an increase?

Hey, folks! I've got an idea. Let's increase the purity, and then we can justify increased prices.

Chris

 

The reason for restoring the minting of .900 fine silver coinage for collectors in 1992 was to harken back to tradition and history, a time of hard money, when precious metals really circulated, had real value and truly correlated to the denominations struck onto the reverse--a dime had nearly 10 cents of silver, etc.

Now, 23 years later, the former .900 fine precious metal standard of American coinage for 160 years means nothing?

I also find it interesting that the centennial of the 1916 classic designs foreshadows the demise of its own in 2016.

Call me a traditionalist, but this change is not something I welcome.

 

Reminds me of what stamp collectors faced decades ago, and still continuing today as the purchase of physical postage in the form of stamps has died significantly. Make them different! Every collector will want the scratch and sniff stamps, the personalized stamps, the gold foil ........etc.

It probably will end up killing the rest of the stamp collecting community. The mint should take notice...oh wait they did and here it comes