A History Of Canadian Silver Coins – Where Did They All Go?

At one point in meter it was very common to see mobilize ash grey coins. On January 2nd, 1908 when Canada opened its foremost Royal Mint in Ottawa, the “ foremost coin ” ( half-dollar ) was a silver mint ( 92.5 % silver/7.5 % copper ). From then until the late 1960s, Canada, much like everyone else, produced silver medal coins, with exception to the penny ( tan ) and the five penny ( nickel ). But the 1960s marked the death of silver currency coins. It wasn ’ thyroxine just Canada, but most countries around the world were making nickel or copper-nickel coins .

Seeing a silver mint nowadays is a treat. They have become collectible pieces where their numismatic ( collectors ) value and silver value are far higher than its confront value. If you are lucky enough to come across one, we have written a great guide to help you understand how much your flatware mint is worth .
But what happened in the 1960s ? Where did all the Canadian silver coins go ?

The beginning of the end of canadian silver coins can be traced as far rear to World War I. The reason for this is because the silver content in coins depended on the blemish price of silver. between 1908 and 1919, canadian eloquent coins were made with 92.5 % silver. however, after 1919 ( the end of WWI ), about all canadian silver coins contained 80 % silver .
Looking at the graph below you can see that between 1914 and 1919 the price of silver jumped from $ 0.50/oz to over $ 1/oz .
In other words, the war ’ second affect on silver prices influenced canadian silver coinage. Up until 1922, the five-cent mint was originally made with silver, but was converted to nickel ( hence its identify ) to reduce the cost to make the coins .
Although silver prices dropped in the 1930s ( $ 0.25/oz in 1932 ), this did not mean that canadian coins would revert to 92.5 % argent or that the five-cent coin would once again be made with silver. After the Great Depression and World War II, silver prices would begin to climb again, marking the adjacent stage in the death of the Canadian silver coins .
Macrotrends.org_Gold_and_Silver_Prices_100_Year_Historical_Chart (1)

The silver prices use the headline Consumer Price Index ( CPI ) with a basis of January 2012
In 1968, canadian silver coins would take another hit to their eloquent capacity, going from 80 % to 50 %. once August rolled around, it became prohibitive to mint silver circulation coins, therefore all circulation coins were made with nickel or copper-nickel. overall, the surface in silver medal prices had some effect on limiting its use, not just for coins but besides for manufacture goods. not alone was it more expensive to use silver in coins, but the demand from silver investors encouraged the metallic to be allocated more toward bullion than secondary resources .
Since 1968, the only canadian ash grey coins we see are either commemorative coins or bullion coins. The bullion coin—the canadian Silver Maples ( below ; left ) —are deserving their weight in silver, whereas the commemorative ones, like the 1976 Olympic coins ( below ; right ) are collectibles, and are worth more than fair their ash grey rate .
silver-maple-leaft-coin olympic coin
Although rises in silver prices killed canadian argent circulation coins, they have besides made them worth far more than their face rate. For model, a 1950 twenty-five penny coin is deserving roughly $ 2.50 today. That ’ second 100 times it ’ randomness face value !

Because of the long and complicate history of canadian argent coins, determining the right price to sell argent coins at is catchy. here at Canada Gold, we have years of feel accurately pricing coins, which comes backed by our best price guarantee for true peace of mind. If you want to talk about selling your old silver medal coins, contact us today !
following time, we will talk more about the canadian commemorative coins. If you have any questions, leave a comment .

source : https://tuvi365.net

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