90% Silver Coins

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• June 17, 2012 at 8:23 PM #8421
  
  Silver Dollar
  

  Member

  Im 58 years old. All I knew as a kid was 90%. I now own a retail shop, and do cash transactions daily. In the past 10 years I have not taken or given a half dollar, or modern dollar coin.

  As a kid, it was very common for people to carry half dollars, and even Silver dollars.

  As a matter of fact, when a dispute needed to be settled with the flip of a coin, no coin smaller than a half was considered satisfactory.

  I mention this, because I believe, mabey subconciously, everybody knows the coinage is not kosher. But it is tolerated.

  How many times have you witnessed people stepping over pennies, nickels and dimes. They dont even bend over to pick them up.

  The government has tried to issue dollar coins several times, with dismall results. Perhaps a way to reinstall confidence in the money and the government, would be to reissue 90% Silver coins.

  Im just saying

  June 17, 2012 at 8:57 PM #8422
  
  Marchas45
  

  Member

  The Federal Reserve won’t let them do it as it will take their profit away. It was the Federal Reserve that was the cause of the demise of the the silver coinage.
  Back then your paper dollar was backed by silver not anymore.

  June 17, 2012 at 9:55 PM #8423
  
  Silver Dollar
  

  Member

  Im not completley sure on this, but, the ferderal reserve has no control over the mint.

  If the Fed controlled the mint, I imagine ASE`s Buffolo`s and the like would be stopped. These items are given a dollar face value, of one denomination or another.

  My whole reason for the original post was to show just how important coinage was, everybody had it, we knew what it was worth, and we safeguarded it. We usually had to trade work for coins, and damit we knew we had a valubale item in exchange for the work.

  I started rat holeing coins in 1959, by 1963 we had a pretty good idea that the coinage was going to change.  By 1964 the announcment of new coins was made, we went into full scale rat holeing. It was easy then, go buy a small item with a dollar bill, get 90% silver coins in change. When the new stuff came out, I kept myself very busy trading the newest most modern currency, for the old stuff people still had. That lasted about 2 years, and then it was pretty much over.

  I just think coins with at least some siver content would bring back respect to the coinage, and in turn to thoese who issue it

  Im just saying

  June 17, 2012 at 11:01 PM #8425
  
  Rusty Shackleferd
  

  Member

  In a perfect world the government would use honest money. But lets be real for one second… when was the last time any government was honest about their monitary system and how many of those governments still use the silver and gold coinage anymore.. Its the morals that have changed along with our perception of what real money is.

  June 19, 2012 at 4:23 PM #8511
  
  Mammoth
  

  Member

  Silver Dollar, thank you for your post and for making those points, but note that if a 90% Silver coin the size of a dime has a Silver value of over two dollars, a one-dollar coin would have to be even smaller.

  I sometimes get rolls of half-dollars from the bank and go through them, searching for 40% or 90% Silver halves (haven’t had any luck so far).  But when I spend them, cashiers often seem a little bit perplexed at seeing half-dollars, as though they do not see them very often.

   

  Also, keep in mind that the drawers in cash registers have a place for pennice, nickles, dimes & quarters.  Halves and dollar coins are the ‘ugly stepchildren’ here.

  June 19, 2012 at 8:10 PM #8529
  
  MaryB
  

  Member

  A 1 gram silver round is ~$1. They are smaller and thinner than a dime. I have about 30 of them.

  June 20, 2012 at 8:50 PM #8591
  
  Mammoth
  

  Member

  But anyway Silver Dollar, thanks for starting this thead about 90% Silver.  I like accumulating Silver in this form – it is easily recognizable and easy to sell when the time comes to do so.

  I sort through my stacks and set aside the key date coins, as well as the ones that are in better condition.  The worn, scratched coins, and those damn dateless Standing Liberty quarters and Barber ‘smoothies’ immediately get tossed into the ‘sell-when-Silver-crosses-over-$40/oz‘ jar.

  My favorites?  The Morgan Dollars, of course…followed by the Walking Liberty Halves.

  June 23, 2012 at 5:59 AM #8709
  
  2 OZ.
  

  Member

  Yeah, according to Chris Duane (and history) a 10th of an ounce (dime basically) is worth a day’s wage. A full size silver dollar would still be in order to keep you from carrying so much loose change, especially when you need to make a large purchase.

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