Home U.S. Coin Forum

US Mint to change Composition of Silver Proof sets!

Feb. 27th Coinworld reports mint to change the composition of silver proof sets from .900 silver to .999 silver. Possibility they my change Silver commemoratives also. A cost saving move.

Comments

  • MeltdownMeltdown Posts: 8,650 ✭✭✭✭✭
    Might as well, that's all they're worth to some of us... silver content.
  • Batman23Batman23 Posts: 4,999 ✭✭✭✭✭
    If they are going to change the composition they may as well change the size to a round figure... what do you think about an even five ounces...
  • WoodenJeffersonWoodenJefferson Posts: 6,491 ✭✭✭✭
    Adding more silver content (bullion metal) to save cost is a oxymoron...no?
    Chat Board Lingo

    "Keep your malarkey filter in good operating order" -Walter Breen
  • stealerstealer Posts: 3,968 ✭✭✭✭


    << <i>Adding more silver content (bullion metal) to save cost is a oxymoron...no? >>


    Yea, how are they saving money? image
  • mikeygmikeyg Posts: 1,002


    Maybe not since Im sure that they will price the sets accordingly .They already stop sales to reprice dont they?So the sets will reflect .999 silver prices.
  • I wouldn't mind seeing the nickel in silver, too! image
  • lasvegasteddylasvegasteddy Posts: 10,408 ✭✭✭


    << <i>I wouldn't mind seeing the nickel in silver, too! image >>


    or the cent...image

    shame they changed the designs so bad they look like chuck e cheese tokens though

    on topic
    yeah i'm sure price will reflect this metal content change...maybe though...
    the milk spot problem will cease
    everything in life is but merely on loan to us by our appreciation....lose your appreciation and see


  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭


    << <i>

    << <i>Adding more silver content (bullion metal) to save cost is a oxymoron...no? >>


    Yea, how are they saving money? image >>



    Are they adding more silver or just eliminating the alloy and keeping the silver content to same? In any event they are making money on these coins when you consider the premiums they are charging their customers.

    Worry is the interest you pay on a debt you may not owe.

  • jmcu12jmcu12 Posts: 2,452 ✭✭✭
    I can see how they could be cheaper to make - since the mint is the only one asking for 90% planchets they have to be specially made but if they switch compositions then it may be cheaper since more use that .999 content.

    Of course you and I won't get it cheaper - quite to the contrary they will charge us more and cite the very reason that makes them cheaper to make.

    Either way we pay more - how is that for circular logic?! image
    Awarded latest "YOU SUCK!": June 11, 2014
  • jdimmickjdimmick Posts: 9,583 ✭✭✭✭✭
    I actually hate this idea becuase when they come in the store, any extra's I break apart and toss in the melt bag with other 90%.
  • coinkid855coinkid855 Posts: 5,012 ✭✭✭
    They'll tone a lot prettier now! image



    -Paul
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    That will create a short furor over getting the first sets and likely seven pages of threads. image Cheers, RickO
  • messydeskmessydesk Posts: 19,642 ✭✭✭✭✭


    << <i>They'll tone a lot prettier now! >>


    They'll tone a lot faster now.


    << <i>Adding more silver content (bullion metal) to save cost is a oxymoron...no? >>


    The mint doesn't mix up the alloy. Their planchet providers do. 90% planchets are apparently an additional, non-standard process for them, so they charge the mint a larger markup over melt. It also provides an opportunity for the mint to raise the prices of there previously non-.999 stuff by 11% and further increase their profit.

    The more important question that nobody seems to be asking is if there will be special slab inserts available at a premium indicating .999 fine for suckers ... uh... people who like these things.

  • RGTRGT Posts: 508 ✭✭


    << <i>I actually hate this idea becuase when they come in the store, any extra's I break apart and toss in the melt bag with other 90%. >>



    Just toss them in the other melt bag with the silver rounds.

    Some have wanted the mint to make fractional ASE's. Now they can change the weight and make the dime 1/10th oz., the quarter 1/4 oz. and the half 1/2 oz pure .999 silver.
  • CakesCakes Posts: 3,450 ✭✭✭✭✭


    << <i>That will create a short furor over getting the first sets and likely seven pages of threads. image Cheers, RickO >>



    release the hounds
    Successful coin BST transactions with Gerard and segoja.

    Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
  • kiyotekiyote Posts: 5,568 ✭✭✭✭✭
    Why change the composition when you can have a .999 version running along the same time as the classic .900 series? That's how the mint thinks! image
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭


    << <i>

    << <i>Adding more silver content (bullion metal) to save cost is a oxymoron...no? >>


    Yea, how are they saving money? image >>



    Do you think it is the same cost for Chevy to offer 6 different sizes of tires with the Chevy Cruz or does make more economic/inventory sense to just have one size for all Cruz vehicles? The price of both 90% and 99.9?% both change as the spot price of silver change so the replacement of the copper by silver and concomitant price increase for the pure silver would have little to do with the decision to change.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file