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A new "Darksider" with a stupid question...no really it is stupid
ufdah
Posts: 35
Hello All and greetings from Iowa...I have a really stupid question (as layed out in my title for this message)
And let the nonsense begin:
I have always collected Canadian coinage and on the rare occasion i would pick up a Canadian 5$ Maple (silver bullion 1 ounce)
now the American silver dollar is a 1$ silver bullion 1 ounce coin. Is the dollar value given on the coin from a standard years ago where perhaps 1 dollar Amercan equaled 5 dollars Canadian....or is the dollar value just a random value they mint the coin for?
Another question i had was i heard the Canadian Silver Maple was purer than the Amercian silver dollar...(canadian .999 and the American is somewhere around .950 silver) Is that true or what is the silver content percentage?
oh well don't beat me up too bad...just curious
thanks
And let the nonsense begin:
I have always collected Canadian coinage and on the rare occasion i would pick up a Canadian 5$ Maple (silver bullion 1 ounce)
now the American silver dollar is a 1$ silver bullion 1 ounce coin. Is the dollar value given on the coin from a standard years ago where perhaps 1 dollar Amercan equaled 5 dollars Canadian....or is the dollar value just a random value they mint the coin for?
Another question i had was i heard the Canadian Silver Maple was purer than the Amercian silver dollar...(canadian .999 and the American is somewhere around .950 silver) Is that true or what is the silver content percentage?
oh well don't beat me up too bad...just curious
thanks
theres no such thing as a stupid question is there?
0
Comments
Governments feel obliged to put a face value on their bullion coins because if they have no face value, they're not really "coins", and collectors wouldn't want them so much. But the face value which governments give to their bullion coins is entirely up to the governments concerned. Historically, the face value of a circulating coin was higher than it's bullion content. It took a while for governments to realise that the lower the face value they put on their bullion coins, the better, because it would then be less likely that they'd have to redeem them - something they wouldn't want to encourage, since the only reason people would cash their coins in would be if the bullion value fell below the face value.
Australian Kookaburras were originally issued at face value $5 for an ounce dated 1990. A couple of years later in 1992 when it looked like silver might actually get close to $5 per ounce, the face value was reduced to $1 for an ounce.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded one DPOTD.
<< <i>In order for a coin to be a coin, it has to have a denomination on it. >>
Not always true, at least in the past. Many British/English coins had no denomination on them.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don