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Is the government destroying Morgan Silver Dollars?
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<p>[QUOTE="gatzdon, post: 263693, member: 8247"]Awhile back, there was a footnote on the USMints website on the page that had a table of coin specifications. The footnote stated that SBA's were uncurrent and the mint melted any that were returned to it.</p><p><br /></p><p>I assume that as the Federal Reserve doesn't return coins to the mint often, that it was probably a true statement and that almost none were returned. I remember the statement as it was what prompted me to start putting in a jar any SBA's that I found. This may have been the desired effect without actually melting any coins. Prompting people to hoard them is much cheaper than actually filtering them out of circulation.</p><p><br /></p><p>Since then, the coin specification table has been updated and no long listed the SBA or IKE specifications. Don't know if there is a way to find an archived copy.</p><p><br /></p><p>I do agree, removing the silver SBA's is the first step to trying to get dollar coins back in circulation. I also think the Mint should work on a strategy to convince businesses in high theft areas to switch from dollar bills to dollar coins as very few thieves go after the change.[/QUOTE]</p><p><br /></p>
[QUOTE="gatzdon, post: 263693, member: 8247"]Awhile back, there was a footnote on the USMints website on the page that had a table of coin specifications. The footnote stated that SBA's were uncurrent and the mint melted any that were returned to it. I assume that as the Federal Reserve doesn't return coins to the mint often, that it was probably a true statement and that almost none were returned. I remember the statement as it was what prompted me to start putting in a jar any SBA's that I found. This may have been the desired effect without actually melting any coins. Prompting people to hoard them is much cheaper than actually filtering them out of circulation. Since then, the coin specification table has been updated and no long listed the SBA or IKE specifications. Don't know if there is a way to find an archived copy. I do agree, removing the silver SBA's is the first step to trying to get dollar coins back in circulation. I also think the Mint should work on a strategy to convince businesses in high theft areas to switch from dollar bills to dollar coins as very few thieves go after the change.[/QUOTE]
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