Bicentennial Silver coins -- Why 40%?

I'm curious why the Mint chose to make 40% instead of 90% for the bicentennials? As well as the Ike dollars. Probably only Q.David Bowers knows lol.

 

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At that time, 40% silver was the only silver alloy the mint issued after the 90% silver coins were replaced. Perhaps it would have taken an Act of Congress to issue the Bicentennial coins in 90% silver.

 

The mint was still making 40% silver Ike dollars from 1971-1974, they were legislated so the 1976 coins were just a continuation of that - they started minting them in early 1975 since there are no 1975 dated quarters - dollars.

 

The three piece 40% proof set was still available for issue price in November
of 1980. Ordered 20 of them and waited 9 months. Went thru them and
not one Cameo in the bunch. Kept the 2 nicest sets. Still have them.

 

No congressional act to change from the then 40% to 90%.

 

They are cheapskates! LOL Still looking to make a profit from the sales.