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The futility of searching circulating coins for silver- Washington Quarter edition
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<p>[QUOTE="Hobo, post: 504549, member: 11521"]Assuming your numbers are correct for there to be a 1% chance of finding a silver Washington quarter in change would mean that close to 20% of ALL silver Washington quarters remain in circulation. Said another way, ONLY 80% of all silver Washington quarters have been removed from circulation. I think that is highly, highly unlikely. </p><p> </p><p>The reality is that almost no silver Washington quarters remain in circulation. Quarters are the workhorse of US coins and, thanks to the State Quarter program, more people than ever look at every quarter they receive in change. The chances of a silver quarter remaining in circulation after this close scrutiny is nil. So how is that someone finds an occasional silver quarter in circulation? More than likely these silver coins slip back into circulation when they are spent by someone who does not know their value (e.g., a child or a thief). </p><p> </p><p>Let's assume that 99.99% of all silver Washington quarters have been removed from circulation. (If anything this figure may be low.) Using your numbers:</p><p> </p><p>Number of silver Washington quarters remaining in circulation = </p><p> </p><p>0.01% X 3.77 Billion = 377,000 quarters </p><p> </p><p>Assuming all 75 Billion clad quarters minted since 1965 remain in circulation (a BIG assumption in light of the State Quarter program) that means the percentage of silver Washington quarters in circulation is:</p><p> </p><p>377,000 / 75 Billion = 0.00005 = 0.005% (or one coin in 20,000)</p><p> </p><p>I doubt your odds are that high of finding one.[/QUOTE]</p><p><br /></p>
[QUOTE="Hobo, post: 504549, member: 11521"]Assuming your numbers are correct for there to be a 1% chance of finding a silver Washington quarter in change would mean that close to 20% of ALL silver Washington quarters remain in circulation. Said another way, ONLY 80% of all silver Washington quarters have been removed from circulation. I think that is highly, highly unlikely. The reality is that almost no silver Washington quarters remain in circulation. Quarters are the workhorse of US coins and, thanks to the State Quarter program, more people than ever look at every quarter they receive in change. The chances of a silver quarter remaining in circulation after this close scrutiny is nil. So how is that someone finds an occasional silver quarter in circulation? More than likely these silver coins slip back into circulation when they are spent by someone who does not know their value (e.g., a child or a thief). Let's assume that 99.99% of all silver Washington quarters have been removed from circulation. (If anything this figure may be low.) Using your numbers: Number of silver Washington quarters remaining in circulation = 0.01% X 3.77 Billion = 377,000 quarters Assuming all 75 Billion clad quarters minted since 1965 remain in circulation (a BIG assumption in light of the State Quarter program) that means the percentage of silver Washington quarters in circulation is: 377,000 / 75 Billion = 0.00005 = 0.005% (or one coin in 20,000) I doubt your odds are that high of finding one.[/QUOTE]
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