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US Mint to change Composition of Silver Proof sets!
CoinMaster1229
Posts: 1,092 ✭✭
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.
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<< <i>Adding more silver content (bullion metal) to save cost is a oxymoron...no? >>
Yea, how are they saving money?
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>I wouldn't mind seeing the nickel in silver, too! >>
or the cent...
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
<< <i>
<< <i>Adding more silver content (bullion metal) to save cost is a oxymoron...no? >>
Yea, how are they saving money? >>
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.
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?!
-Paul
<< <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.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
<< <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.
<< <i>That will create a short furor over getting the first sets and likely seven pages of threads. Cheers, RickO >>
release the hounds
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<< <i>
<< <i>Adding more silver content (bullion metal) to save cost is a oxymoron...no? >>
Yea, how are they saving money? >>
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.
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