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Waaaay OT / Silver Coinage Scams Posted by EGD [Email]  (#663) [Profile/Gallery]
(more from EGD) on Mon, 25 Apr 2011 11:18:31
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With silver prices going through the roof, many of have bought silver in the form of previously minted US or Canadian coinage.
My best friend buys and sells this stuff and wanted to point out a few things unscrupulous dealers have been doing so here are a few silver coin facts in case you're looking for this stuff:
1) Regular circulation US dimes, quarters, half dollars, and silver dollars are 90% silver through 1964. After that, the dimes and quarters went to a copper-nickel clad with no silver. The half dollars went to 40% silver through 1970. Some unscrupulous people are passing off the 40% silver half dollars (1967-1970) as 90% silver. Caveat emptor.
2) Regular circulation Canadian dimes, quarters, half dollars, and silver dollars are 80% silver from 1920 through 1966. In 1967, the RC Mint changed the composition of the (Centennial) silver coinage in the middle of the year to 50% silver and there's really no way to tell which is which except that the 50% silver coinage has a different tone when dropped than the 80% coinage. As such, I'd avoid the 1967 Canadian coins as some are passing the 50% silver off as 80% silver. Again, caveat emptor.
In later years, there have been other US / Canadian coins minted for collectors which do contain silver. The bottom line is do your due diligence before you buy / sell any of this stuff.
Hope this helps fellow Saabers from getting ripped off.
posted by 192.91.17...
, Mon, 25 Apr 2011 11:18:31 <-- Viewing This Message, Mon, 25 Apr 2011 12:22:18, Mon, 25 Apr 2011 14:19:32
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