Michael Byrne

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The New Silver Good or Bad Idea?

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MIKE BYRNE

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Hi everyone. Well my sons started collecting the state quarters. He likes them so he continued. Well we came to The America the Beautiful Quarters. Now for the first eight years there was never a problem. Always the same. He likes MS 69 and bought the silver proof coins. We get to this year. It seems the ATB quarters are made with the new silver. I said this should be good. Well they came out and no one had them. Except the mint sets. So I started to ask why. I contacted my regular seller who had the complete set in MS 69 proof silver. Never again be said. 

I asked why it's seems the five ounce were grading fine. So I called NGC and asked if I bought a set from the mint and sent it in could I ask for a Proof 69. I was told there was no guarantee I said I'm not looking for a 70 I want a 69. Surely from the mint there should be no problem. Well the representative was very helpful. Basically telling me find a set. Well as I said I did find one. Now I have been buying these very reasonable over eight years. Now we have problems. Why there could be only one answer the silver being used. It's not the planchet I think it's the amount of pressure being used to make them causing the low grade. 

Another problem why couldn't they just added the last quarter instead of having us wait another year. Doesn't make sense. What would of been so hard they know what it is. Now to most collectors we don't collect these it was started to bring more kids into the hobby. So this problem falls on them the kids. Not right. I am happy I did find one set. But what about the other kids who are going for them. Usually you see pre-sales there was none. There is no reason to go on. They  find the problem and fix it. This is a ten year set that could of ended this year but no. Now the kids have to worry. I only hope they find them. There the standard bearers of this hobby. That's all I can say. Another mistake from the mint. I don't know who to blame. So he careful I'm not saying there not out there but if you find them wait till you see the price of New Silver. Thanks Mike.

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It seems hard to believe the mint didn't see this problem during research and development. It's not like they haven't made 9.99 silver before. If that is the fineness. These coins are made only for collectors. Not for circulation. No excuse for everything grading a 70 or 69.Thanks for pointing this out Mike.

Edited by longstrider

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Still wondering why they made that switch after literally spending the last 200 plus years using the .9 (or thereabouts) silver standard.  Must be a marketing ploy and possibly a means to save a little on production of each coin.

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I did order a set I forgot. Well there a mess. I wish you can see them. Scratches marks even the lens is scratched. They should recall them melt them and do it over. But that can't and will not happen. This is the worse set I have ever seen. Those poor kids.Mike.

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To answer your question: "New Silver Good or Bad Idea?"  I would say it really doesn't matter -- current mint (US or others) precious metal output for collectors will not have much of a difference in numismatic value no matter what % of precious metal content they want to play with.  They will always be worth the bullion content when sold, assuming you can get someone to pay the spot price, plus whatever premium you can convince the buyer to pay for.  You can assume the premium will stay as high as the day you buy it but you really won't know until you try to sell it.

But of course, collect what makes you happy.  I have a few modern mint products that I like because they have designs that appeal to me and I know I probably will lose some money when I eventually sell them but I'm Ok with that.  But is that the lesson you want your kids to learn?

Edited by jgenn

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21 hours ago, Mokiechan said:

Still wondering why they made that switch after literally spending the last 200 plus years using the .9 (or thereabouts) silver standard.  Must be a marketing ploy and possibly a means to save a little on production of each coin.

I think they did it because that is the standard that collectors are coming to expect.  If you look at the many offerings of different World Mints, the silver coins are .999 fine.  The 90% silver alloy was actually an archaic relic that, it could be argued, the US Mint clung to for way too long.  If the US Mint wants to modernize and compete in the global modern coin market, this was a necessary change.  Is it a marketing thing?  Yes.  But it's a necessary one. 

Edited by Mohawk

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I appreciate all your response I welcome them. Answer why none are for sale on ebay? At the end of the search the list all the places you can buy them. No quarters. Just the five ounce. Spend some time and look like I did. When I search believe me i serch. Took me five years to put  rare 223 year old complete set together. I can't find a set even on pre-sale  anywhere why is that. My set is a discrace. I don't see the retailers selling them. There has to be a reason this is the next to last year. One coin next year. The mint is consistent if anything. I understand the plastic there wrapped it rumor from five grading companies said that plastic has PV.C. I though we were done with that. They are off color if you find them. So what really happened? Someone please tell me. I have been collecting for twenty six years now. I'm not just starting. I would grade this set  66 or 67. My percentage is 94%.. Something went on. I just feel we have the right to know. Thanks eveyone. Mike

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14 hours ago, Mohawk said:

I think they did it because that is the standard that collectors are coming to expect.  If you look at the many offerings of different World Mints, the silver coins are .999 fine.  The 90% silver alloy was actually an archaic relic that, it could be argued, that the US Mint clung to for way too long.  If the US Mint wants to modernize and compete in the global modern coin market, this was a necessary change.  Is it a marketing thing?  Yes.  But it's a necessary one. 

I guess my only counter would be, and this is purely a personal preference, the 90% US standard gives me a feeling of continuity with the pre 65 issues.  Now that they've gone all silver, I feel they've become purely bullion coins with no connection to my aforementioned continuity.  Having said that, it is only a passing concern, I am onboard with the change. 

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2 hours ago, Mokiechan said:

I guess my only counter would be, and this is purely a personal preference, the 90% US standard gives me a feeling of continuity with the pre 65 issues.  Now that they've gone all silver, I feel they've become purely bullion coins with no connection to my aforementioned continuity.  Having said that, it is only a passing concern, I am onboard with the change. 

I can understand how you'd feel that way regarding the 90% silver alloy.  I guess I view it somewhat differently because I don't collect US classic coins at all and I only collect US moderns when they work in my thematic collecting projects.  I likely wouldn't have the same feelings on this issue as you because of this.  But I am glad to see that, based on the change to .999 silver, that the US Mint seems to be adopting a more global mindset regarding its offerings.  If this mindset extends to the designs and the themes of the coins and not just the composition, this will be a good thing for everyone I think.

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Collecting to some is value. To others we collect. The set I wrote about was for kids. I collect for the great feeling a coin ,token,or medal can bring you. The story each one tells. That's collecting. If you want to collect for value that's perfectly fine. But each collect or collects certain coins for certain reasons. To each there own. Or as we say in the ANA collect what you like. Everything out there has a story to tell. This were the research and history come in. So collect what we like and everyone enjoy it after all its a hobby also. Thanks. Mike.

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On 3/8/2019 at 2:52 PM, longstrider said:

It seems hard to believe the mint didn't see this problem during research and development. It's not like they haven't made 9.99 silver before. If that is the fineness. These coins are made only for collectors. Not for circulation. No excuse for everything grading a 70 or 69.Thanks for pointing this out Mike.

Have you noticed that most items coming out of the mint are not silver? Clad other metals no silver. Years ago I was reading about the above ground silver. They predicted that by 2026 there would be very little left.. Could it be we are seeing the beginning of this? Just a thought. Thanks. Mike

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