The Shot Heard Round The World....Milkspots On SAE's....
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Posts: 350 ✭
Well, Sunshine Minting, a local mint up here in Idaho... that mints millions of blanks for the SAE, says.... they have a huge problem, a problem that all the refiners have. It's a problem that NONE of them want to talk about (or admit)
Here is the Bad-word of the day..... BISMUTH
All the refiners fight it all the time. Bismuth "likes" silver.... a lot.
So the refiners are always fighting to not get it into their system. It can come in with any silver that they refine... But up here in the Silver Valley of Idaho, there isn't much bismuth in the silver ore that comes out of the ground here. But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver.
Pan American mining has many silver mines, most in South America and those mines are notorius for having bismuth contaminates.
So Sunshine and other refiners are working very hard to get the bismuth out. And one of the tell tale marks that your silver has bismuth, is milk spots on the surface of your finished silver.
Hope this doesn't start WWIII
Here is the Bad-word of the day..... BISMUTH
All the refiners fight it all the time. Bismuth "likes" silver.... a lot.
So the refiners are always fighting to not get it into their system. It can come in with any silver that they refine... But up here in the Silver Valley of Idaho, there isn't much bismuth in the silver ore that comes out of the ground here. But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver.
Pan American mining has many silver mines, most in South America and those mines are notorius for having bismuth contaminates.
So Sunshine and other refiners are working very hard to get the bismuth out. And one of the tell tale marks that your silver has bismuth, is milk spots on the surface of your finished silver.
Hope this doesn't start WWIII
0
Comments
Like zinc chloride, copper chloride etc.... when the bismuth forms its chloride, it has an ionic reaction with the silver and wants to "hold on" to the silver....
So the Chlorine bubble doesn't work so well with the bismuth. And lots of it stays behind... many times "sitting" on the surface of the blanks...
They have asked me and others, if you have any ideas, they are very happy to hear them.
Any ideas, I will pass on to their refiners... and let you know what they say.
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peacockcoins
<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>
<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
Is that accurate ? I found this : The authorizing legislation for the American Silver Eagle bullion program stipulated that the silver used to mint the coins be acquired from the Defense National Stockpile with the intent to deplete the stockpile's silver holdings slowly over several years. By 2002, it became apparent that the stockpile would be depleted and that further legislation would be required for the program to continue. On June 6, 2002, Senator Harry Reid (D-Nevada) introduced bill S. 2594, "Support of American Eagle Silver Bullion Program Act," "to authorize the Secretary of the Treasury to purchase silver on the open market when the silver stockpile is depleted." The bill was passed by the Senate on June 21 and by the House on June 27 and signed into law (Pub.L. 107-201, 116 Stat. 736) by President Bush on July 23, 2002.[19]
How about asking the electronics industry, is Bismuth allowed in high purity electronics?
Maybe ask Texas Instruments or another high end chip maker with a clean room.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>So milk spots are Bush's fault? >>
<< <i>
<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
the metals need to come from us sources if sourcing from them is possible. the mint is allowed to open market purchase, and that can included non-us sources.
<< <i>So milk spots are Bush's fault? >>
Why not ? He gets blamed for just about everything else
<< <i>Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
Well, let's just forget I said that part.....
Sunshine gets 1000 oz finished bars from a refiner up in the silver valley.
How's that?
http://www.coinshop.com
<< <i>
<< <i>
<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
the metals need to come from us sources if sourcing from them is possible. the mint is allowed to open market purchase, and that can included non-us sources. >>
1 USC § 5116 - Buying and selling gold and silver
(2) The Secretary may sell or use Government silver to mint coins, except silver transferred to stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). The Secretary shall obtain the silver for the coins authorized under section 5112 (e) of this title by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). 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 5112 (e). If it is not economically feasible to obtain such silver, the Secretary may obtain silver for coins authorized under section 5112 (e) from other available sources. The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term “average world price” means the price determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary. The Secretary shall sell silver under conditions the Secretary considers appropriate for at least $1.292929292 a fine troy ounce.
<< <i>When a collector learns to not only tolerate but embrace milky white spots on their silver Eagles the world becomes a less stressful and a more peaceful place.
>>
This sounds like the solution of the problem of toning (or tarnishing as Ricko describes the "problem"). As with toning, milkspots should be embraced, thus giving those coins with the "problem" a premium value.
I knew it would happen.
Another suggestion I give them freely: U.S. dollar planchets up through 1904 were "pickled" or "blanched" in some manner and then rinsed prior to striking, and water spotting is not generally a problem on them.
Dollar made in 1921 and later quite often suffer water spotting. Ask the Mint what the differences were in planchet preparation between those two period, and duplicate the earlier procedure.
TD
If the high-bismuth silver is only used for some ASEs, it can explain why some spot and others don't.
Additionally, if it is only used for ASEs, it can explain why other Sunshine Mint pieces do not exhibit milkspotting.
<< <i>This is interesting. If the high-bismuth silver is only used for some ASEs, it can explain why some spot and others don't. Additionally, if it is only used for ASEs, it can explain why other Sunshine Mint pieces do not exhibit milkspotting. >>
Very good thought. For the government bid, you just have to meet the minimums... with YOUR product, you can use the nice stuff.
Sunshine products, DON"T have milkspots........ hmmmmmmm
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<< <i>
<< <i>This is interesting. If the high-bismuth silver is only used for some ASEs, it can explain why some spot and others don't. Additionally, if it is only used for ASEs, it can explain why other Sunshine Mint pieces do not exhibit milkspotting. >>
Very good thought. For the government bid, you just have to meet the minimums... with YOUR product, you can use the nice stuff.
Sunshine products, DON"T have milkspots........ hmmmmmmm >>
Perhaps Sunshine products are made from Idaho Silver?
Bismuth has a very low melting point. When it reaches that temp (47c) it oxidizes. So, I suspect what we are
seeing on ASEs is that the striking pressure used causes the metal to heat to this point, thus oxidizing Bismuth.
Now, Idaho silver, Nevada silver and US silver in general does not contain Bismuth. Bismuth generally comes from
just a few countries. China, Peru, Mexico, Bolivia are the major sources. Canada also has Bismuth associated with
lead and that often is associated with silver but I don't know enough about Canada silver to make a determination.
ASE's are .999 fine right? So is the .001 Bismuth? IF it is then this striking of the coins would be the main cause.
JMHO as a part time prospector.
bob
<< <i>This is interesting.
If the high-bismuth silver is only used for some ASEs, it can explain why some spot and others don't.
Additionally, if it is only used for ASEs, it can explain why other Sunshine Mint pieces do not exhibit milkspotting. >>
Does the Government have a spec for bismuth content for coinage silver? I remember being involved in awork project testing wastewater for COD or chemical oxygen demand. Chloride was a significant interference in the test. Sodium bismuthate was added to remove chloride interference.
Bismuth Oxide and not affect the silver. I would have to play around with this but I no longer
have a lab that could perform the tests. I don't know what the ASE's would look like once this
was done. But, that would be a starting point. Take note PCGS.
You can send the check to my address on file.
bob
<< <i>hydrochloric acid bath and rinse before the minting process would be even better. >>
I thought about that but I am not convinced that that is the way to go. Striking of the blank
creates a LOT of heat and that is what causes the Bismuth to oxidize. I don't know the reaction
to Hydrochloric acid on Bismuth itself. That is what labs are for!
Is the Sunshine mint or the US Mint offering a reward to solve this????
bob
<< <i>
<< <i>
<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
Is that accurate ? I found this : The authorizing legislation for the American Silver Eagle bullion program stipulated that the silver used to mint the coins be acquired from the Defense National Stockpile with the intent to deplete the stockpile's silver holdings slowly over several years. By 2002, it became apparent that the stockpile would be depleted and that further legislation would be required for the program to continue. On June 6, 2002, Senator Harry Reid (D-Nevada) introduced bill S. 2594, "Support of American Eagle Silver Bullion Program Act," "to authorize the Secretary of the Treasury to purchase silver on the open market when the silver stockpile is depleted." The bill was passed by the Senate on June 21 and by the House on June 27 and signed into law (Pub.L. 107-201, 116 Stat. 736) by President Bush on July 23, 2002.[19] >>
I take that to mean that in leiu of using the DNS, the US Mint could now buy from miniing interests located "within" the United States of America. This is one of the primary reasons that silver was so difficult to obtain in 2009 which prevented the manufacture of 2009-W SSAE Proofs and 2009-W/2010-W BNurnished Eagles. The current suppliers of silver blanks could not meet demand and the US Mint could not purchase silver from sources outside of the country.
Milk Spotting on SAE's has been occuring since the 1980's.
The name is LEE!
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<< <i>
<< <i>
<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
Is that accurate ? I found this : The authorizing legislation for the American Silver Eagle bullion program stipulated that the silver used to mint the coins be acquired from the Defense National Stockpile with the intent to deplete the stockpile's silver holdings slowly over several years. By 2002, it became apparent that the stockpile would be depleted and that further legislation would be required for the program to continue. On June 6, 2002, Senator Harry Reid (D-Nevada) introduced bill S. 2594, "Support of American Eagle Silver Bullion Program Act," "to authorize the Secretary of the Treasury to purchase silver on the open market when the silver stockpile is depleted." The bill was passed by the Senate on June 21 and by the House on June 27 and signed into law (Pub.L. 107-201, 116 Stat. 736) by President Bush on July 23, 2002.[19] >>
I take that to mean that in leiu of using the DNS, the US Mint could now buy from miniing interests located "within" the United States of America. This is one of the primary reasons that silver was so difficult to obtain in 2009 which prevented the manufacture of 2009-W SSAE Proofs and 2009-W/2010-W BNurnished Eagles. The current suppliers of silver blanks could not meet demand and the US Mint could not purchase silver from sources outside of the country.
Milk Spotting on SAE's has been occuring since the 1980's. >>
check out the pertinent section of the law.
option 1 on the go to list is US or Territories first, option 2 is then "other sources" If option 1 is not possible then it, by definition, has to be the rest of the world.
<< <i>47c isn't that warm, rolling the sheet/strip down wouldn't get it that hot? >>
It converts to: 116.6 degrees Fahrenheit
If you have never felt how hot a planchet is immediately after striking you would be very
surprised. Much hotter than 116.6 for sure.
bob
<< <i>
<< <i>
<< <i>
<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
the metals need to come from us sources if sourcing from them is possible. the mint is allowed to open market purchase, and that can included non-us sources. >>
1 USC § 5116 - Buying and selling gold and silver
(2) The Secretary may sell or use Government silver to mint coins, except silver transferred to stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). The Secretary shall obtain the silver for the coins authorized under section 5112 (e) of this title by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). 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 5112 (e). If it is not economically feasible to obtain such silver, the Secretary may obtain silver for coins authorized under section 5112 (e) from other available sources. The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term “average world price” means the price determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary. The Secretary shall sell silver under conditions the Secretary considers appropriate for at least $1.292929292 a fine troy ounce. >>
Be careful that you do not confuse regular silver for "collector" coinage with Silver and Gold for Eagles since silver for collector coins, which includes silver proof sets and silver commemorative coins, CAN and often is purchased from sources outside the USA. Blanks for the 90% Silver quarters have been purchased from the Perth Mint in Australia for years.
The PNLY reason that Ed Moy made the decision to NOT produce burnished or proof silver eagles for 2009 and burnished coins for 2010 was that there simply was not enough "eligible" silver available from US sources.
The name is LEE!
what I was talking about is the heat from rolling the strip.
here is a video @ 3:00
that's a bit earlier in the process, but they use gloves and pliers to handle the strip, plus they even say they use fans to cool it.
so, at some point before planchets are punched, the exterior of the strip seemingly is above 47c.
create enough heat to rise above the 47c.
But, so would striking. Hmmmmmmmm
bob
<< <i>
<< <i>
<< <i>
<< <i>
<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
the metals need to come from us sources if sourcing from them is possible. the mint is allowed to open market purchase, and that can included non-us sources. >>
1 USC § 5116 - Buying and selling gold and silver
(2) The Secretary may sell or use Government silver to mint coins, except silver transferred to stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). The Secretary shall obtain the silver for the coins authorized under section 5112 (e) of this title by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). 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 5112 (e). If it is not economically feasible to obtain such silver, the Secretary may obtain silver for coins authorized under section 5112 (e) from other available sources. The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term “average world price” means the price determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary. The Secretary shall sell silver under conditions the Secretary considers appropriate for at least $1.292929292 a fine troy ounce. >>
Be careful that you do not confuse regular silver for "collector" coinage with Silver and Gold for Eagles since silver for collector coins, which includes silver proof sets and silver commemorative coins, CAN and often is purchased from sources outside the USA. Blanks for the 90% Silver quarters have been purchased from the Perth Mint in Australia for years.
The PNLY reason that Ed Moy made the decision to NOT produce burnished or proof silver eagles for 2009 and burnished coins for 2010 was that there simply was not enough "eligible" silver available from US sources. >>
Im still going to disagree.
I'm going to say there was a worldwide planchet supply issue that was later cleared with addition of manufacturing capacity.
At least until I fiund out otherwise.
I think the law is fairly clear, too. 5112 (e) is SAE to be made. Paragraph (1) of this:
the Secretary shall obtain silver as described in paragraph (1) to mint coins authorized under section 5112 (e).
refers to US and Territories mined silver
The law then goes onto say if (1) isn't feasible economically, then "other sources" are ok.
To me that is clear, if it can't be found in the US, then the other places it can be found is ok and those other places are in the rest of the world.
<< <i>So, it gets heated at least twice? I see where you are coming from now. Yes, rolling would
create enough heat to rise above the 47c.
But, so would striking. Hmmmmmmmm
bob >>
but they burninsh the planchets after.... taking off a thin layer????
<< <i>
<< <i>47c isn't that warm, rolling the sheet/strip down wouldn't get it that hot? >>
It converts to: 116.6 degrees Fahrenheit
If you have never felt how hot a planchet is immediately after striking you would be very
surprised. Much hotter than 116.6 for sure.
bob >>
Bismuth melts at 271 degrees C not 47.
<< <i>A solution of Hydrochloric Acid could be used to eliminate the milk spots as it would dissolve the
Bismuth Oxide and not affect the silver. I would have to play around with this but I no longer
have a lab that could perform the tests. I don't know what the ASE's would look like once this
was done. But, that would be a starting point. Take note PCGS.
You can send the check to my address on file.
bob >>
Since a mild form of hydrochloric acid is in our digestive juices,I might suggest trying to pee on a milk spot first before potentially blowing up your house with dangerous chemicals!Also Chlorox bleach is a diluted form of hydrocloric acid.
<< <i>Is it possible that refining low-bismuth silver from high-bismuth silver makes it too expensive for bullion coins but not for collector coins? >>
Zoins - huh?
Milk spots have shown up on bullion SAEs as well as proof and reverse proof SAEs. That's bullion AND collector coins......
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>
<< <i>Is it possible that refining low-bismuth silver from high-bismuth silver makes it too expensive for bullion coins but not for collector coins? >>
Zoins - huh?
Milk spots have shown up on bullion SAEs as well as proof and reverse proof SAEs. That's bullion AND collector coins...... >>
I should have been more clear.
The ASEs are authorized under the Liberty Coin Act and the Support of American Eagle Silver Bullion Program Act while commemorative coins are authorized under various Commemorative Coin Acts.
Are the silver-acquisition requirements for the bullion and collector versions of ASEs co-minged under the "Support of American Eagle Silver Bullion Program Act" and if so, would reducing the bismuth content of silver make it too expensive for that program? This is assuming the Support of American Eagle Silver Bullion Program Act co-mingles the silver requirements for both bullion and collector versions of the ASE.
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<< <i>
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<< <i>But since Sunshine Minting has been making the blanks for the USMint SAE blanks, they have had to import LOTS of silver." >>
Per the law that created the American Eagle program, the metals have to come from US mined sources. >>
the metals need to come from us sources if sourcing from them is possible. the mint is allowed to open market purchase, and that can included non-us sources. >>
1 USC § 5116 - Buying and selling gold and silver
(2) The Secretary may sell or use Government silver to mint coins, except silver transferred to stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). The Secretary shall obtain the silver for the coins authorized under section 5112 (e) of this title by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). 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 5112 (e). If it is not economically feasible to obtain such silver, the Secretary may obtain silver for coins authorized under section 5112 (e) from other available sources. The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term “average world price” means the price determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary. The Secretary shall sell silver under conditions the Secretary considers appropriate for at least $1.292929292 a fine troy ounce. >>
Be careful that you do not confuse regular silver for "collector" coinage with Silver and Gold for Eagles since silver for collector coins, which includes silver proof sets and silver commemorative coins, CAN and often is purchased from sources outside the USA. Blanks for the 90% Silver quarters have been purchased from the Perth Mint in Australia for years.
The PNLY reason that Ed Moy made the decision to NOT produce burnished or proof silver eagles for 2009 and burnished coins for 2010 was that there simply was not enough "eligible" silver available from US sources. >>
Im still going to disagree.
I'm going to say there was a worldwide planchet supply issue that was later cleared with addition of manufacturing capacity.
At least until I fiund out otherwise.
I think the law is fairly clear, too. 5112 (e) is SAE to be made. Paragraph (1) of this:
the Secretary shall obtain silver as described in paragraph (1) to mint coins authorized under section 5112 (e).
refers to US and Territories mined silver
The law then goes onto say if (1) isn't feasible economically, then "other sources" are ok.
To me that is clear, if it can't be found in the US, then the other places it can be found is ok and those other places are in the rest of the world. >>
Well, you can certainly "believe" whatever you want but it's a known fact that the bullion used for the Eagle Coin Program (Gold and Silver) has different requirments than collector coin programs and it's important that the laws regarding the bullion sources for both coinage types not be confused.
The name is LEE!
2002 Support of American Eagle Silver Bullion Program Act - Pub.L. 107-201, 116 Stat. 736
I didn't know there was some cash involved... I would have never given ya'll a chance at solving it..... sheeesh....
http://www.coinshop.com
<< <i>
<< <i>A solution of Hydrochloric Acid could be used to eliminate the milk spots as it would dissolve the
Bismuth Oxide and not affect the silver. I would have to play around with this but I no longer
have a lab that could perform the tests. I don't know what the ASE's would look like once this
was done. But, that would be a starting point. Take note PCGS.
You can send the check to my address on file.
bob >>
Since a mild form of hydrochloric acid is in our digestive juices,I might suggest trying to pee on a milk spot first before potentially blowing up your house with dangerous chemicals!Also Chlorox bleach is a diluted form of hydrocloric acid. >>
Wrong! Bleach is hypochlorite and not hydrochloric acid.
<< <i>HEY..... WHAT is this $50,000 deal????????
I didn't know there was some cash involved... I would have never given ya'll a chance at solving it..... sheeesh.... >>
PCGS has offered a $50,000 cash award to anyone who can devise a method to remove the white-ish milk spots from silver bullion and other assorted coins. The coins must be able to be reholdered at the same or higher grade after treatment.
<< <i>5112 (e) is the bullion coin program >>
I suggest reading this article, especially the parts at the bottom:
1.) Under what authority does the United States Mint produce collectible proof and uncirculated American Gold and Silver Eagles? ( I realize that the bullion coins are covered under Public Law 99-185 and Public Law 99-61, but these laws do not seem to contain authorization for proof or other collectible coins.)
All collectible proof and uncirculated American Gold and Silver Eagles are produced under the United States Mint’s general numismatic authority at 31 U.S.C. § 5111(a)(3). Over the years Congress has supplemented this general authority with additional specific authority to produce proof gold coins having specifications that are different than the 22-karat American Eagle Gold coins (31 U.S.C. § 5112 (i)(4)(C)) and proof platinum coins (31 U.S.C. § 5112 (k)).
2.) Corollary to question 1, are the collectible proof and uncirculated American Gold and Silver Eagles legally bound to the same precious metals sourcing rules as the bullion coins? (i.e. gold mined from natural deposits of the United States, within one year after the month the ore was mined, at not more than the prevailing price of gold)
All gold coins that the United States Mint currently produces must comply with this requirement. The requirement to purchase gold mined from natural deposits of the United States at 31 U.S.C. § 5116 addresses coins issued under § 5112(i) . The First Spouse and American Buffalo Gold coins have identical provisions at 31 U.S.C. §§ 5112(o)(7)(A) and 5112(q)(4)(A), respectively. These requirement apply to all coins, regardless of their quality--bullion, uncirculated, or proof. Section 5116 is more flexible concerning the purchase of silver, especially when obtaining newly-mined domestic silver is not economically feasible.
They can get the silver from anywhere if not economically feasible from domestic sources.
Here is what the mint had to say about stopping the ASE proofs
all allocation going to bullion. it was demand. they could have obtained it from anywhere (see first article) if they wanted, but that was not the issue.
PS: I'll note that Section 5116 gives the Mint NO leeway regarding the purchase of gold:
(3) The Secretary shall acquire gold for the coins issued under section 5112 (i) of this title by purchase of gold mined from natural deposits in the United States, or in a territory or possession of the United States, within one year after the month in which the ore from which it is derived was mined. The Secretary shall pay not more than the average world price for the gold. In the absence of available supplies of such gold at the average world price, the Secretary may use gold from reserves held by the United States to mint the coins issued under section 5112 (i) of this title. The Secretary shall issue such regulations as may be necessary to carry out this paragraph.
there is no "other sources" wording here. It's USA or No Way. Contrast that with the silver wording, and that is further evidence that silver could potentially come from foreign sources.
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<< <i>47c isn't that warm, rolling the sheet/strip down wouldn't get it that hot? >>
It converts to: 116.6 degrees Fahrenheit
If you have never felt how hot a planchet is immediately after striking you would be very
surprised. Much hotter than 116.6 for sure.
bob >>
Bismuth melts at 271 degrees C not 47. >>
Yeah, but it oxidizes at 116.6. We're not talking about melting the stuff!
bob