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<p>[QUOTE="19Lyds, post: 1559736, member: 15929"]Do you have a link to the legislation governing "the open market"?</p><p><br /></p><p>Never mind, I found it here: <a href="http://www.law.cornell.edu/uscode/text/31/5116" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.law.cornell.edu/uscode/text/31/5116" rel="nofollow">http://www.law.cornell.edu/uscode/text/31/5116</a> </p><p><br /></p><p>It's described as "other sources":</p><p><br /></p><p>"At such time as the silver stockpile is depleted, the Secretary shall obtain silver as described in paragraph (1) to mint coins authorized under section <a href="http://www.cointalk.com/uscode/text/31/5112" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/uscode/text/31/5112">5112</a><a href="http://www.cointalk.com/uscode/text/31/usc_sec_31_00005112----000-#e" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/uscode/text/31/usc_sec_31_00005112----000-#e">(e)</a>. If it is not economically feasible to obtain such silver, the Secretary may obtain silver for coins authorized under section <a href="http://www.cointalk.com/uscode/text/31/5112" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/uscode/text/31/5112">5112</a><a href="http://www.cointalk.com/uscode/text/31/usc_sec_31_00005112----000-#e" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/uscode/text/31/usc_sec_31_00005112----000-#e">(e)</a> from other available sources."</p><p><br /></p><p>5112e refers to "The Liberty Coin Act) and reads:</p><p><br /></p><p>"e)Notwithstanding any other provision of law, the Secretary shall mint and issue, in qualities and quantities that the Secretary determines are sufficient to meet public demand, coins which—</p><p> (1)are 40.6 millimeters in diameter and weigh 31.103 grams;</p><p> (2)contain .999 fine silver;</p><p> (3)have a design—</p><p> (A)symbolic of Liberty on the obverse side; and</p><p> (B)of an eagle on the reverse side;</p><p><br /></p><p> (4)have inscriptions of the year of minting or issuance, and the words “Liberty”, “In God We Trust”, “United States of America”, “1 Oz. Fine Silver”, “E Pluribus Unum”, and “One Dollar”; and</p><p> (5)have reeded edges."</p><p><br /></p><p>The above describes Silver Eagles.[/QUOTE]</p><p><br /></p>
[QUOTE="19Lyds, post: 1559736, member: 15929"]Do you have a link to the legislation governing "the open market"? Never mind, I found it here: [URL]http://www.law.cornell.edu/uscode/text/31/5116[/URL] It's described as "other sources": "At such time as the silver stockpile is depleted, the Secretary shall obtain silver as described in paragraph (1) to mint coins authorized under section [URL="http://www.cointalk.com/uscode/text/31/5112"]5112[/URL][URL="http://www.cointalk.com/uscode/text/31/usc_sec_31_00005112----000-#e"](e)[/URL]. If it is not economically feasible to obtain such silver, the Secretary may obtain silver for coins authorized under section [URL="http://www.cointalk.com/uscode/text/31/5112"]5112[/URL][URL="http://www.cointalk.com/uscode/text/31/usc_sec_31_00005112----000-#e"](e)[/URL] from other available sources." 5112e refers to "The Liberty Coin Act) and reads: "e)Notwithstanding any other provision of law, the Secretary shall mint and issue, in qualities and quantities that the Secretary determines are sufficient to meet public demand, coins which— (1)are 40.6 millimeters in diameter and weigh 31.103 grams; (2)contain .999 fine silver; (3)have a design— (A)symbolic of Liberty on the obverse side; and (B)of an eagle on the reverse side; (4)have inscriptions of the year of minting or issuance, and the words “Liberty”, “In God We Trust”, “United States of America”, “1 Oz. Fine Silver”, “E Pluribus Unum”, and “One Dollar”; and (5)have reeded edges." The above describes Silver Eagles.[/QUOTE]
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