government silver

[fatsmahoney]

Will it be a matter of time before the government requires coin supply companies to filter coinage for silver or is the lady at the bank just messing with me she said they have been talking about it with corporate reps on the matter I wont name the bank but it rhymes with case

 

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[Silver Stripe]

sounds to ME like she's tired of carrying them heavy boxes for you and is trying to get you to quit. You should have said "Well in that case double my orders". HH Mark

 

[gold fish]

I have heard rumors that the fed is trying to recover silver from older coins. It wouldn't surprise me at all.

 

[blurr]

I have heard rumors that the fed is trying to recover silver from older coins. It wouldn't surprise me at all.

I've heard similar rumors. They always pop up when the prices of precious metals rise. My opinion is that they are just that, rumors. What riches would the government gain from CRH? They would have to pay people to sit and sort coin. By hand or by some machine, I doubt it would be a terribly profitable venture. Remember, the government deals in multiples of "billions", not the measly thousands people around here are yanking from circulation. Anything is possible, but I really doubt it

John

 

[fatsmahoney]

they try to regulate all other things it wouldnt take much to start this to feed their silver eagle program that the tresury makes billions on

 

[jewelerdave]

That sucks,
I am sure it will only be a matter of time, or it may explain why boxes here have been so bad. to the tune of a couple 40s per box. They will always miss a few, nothing is perfect but with the prices I can see it.
The government has sold silver in the past. Trade dollars were mostly for just melt and over seas,
read up on Morgan silver dollars and you will find the government sold huge stockpiles of them 100 years ago for the silver.

With the economy the way it is. and Remember the Government is a business, hence why we have the "Executive" branch. They are in it to make money, the fed is a private Company just like the postal service IRS etc, they are not part of the government they just work along side it and for it.
Why would people be shocked to discover they found a way to make money of something they have and can have control over.

It may require special licenses one day to get coin...dont be surprised, or even to carry cash.
The plastic economy is already here, its just a matter of time until thats all it is...as its cheaper and easier to regulate.
Its been that way in some Countries to regulate metals etc.

Worse yet, because I am a Jeweler the patriot act made me a "financial Institution" and technically subject to all rules and laws.
Fortunately they have not told me what it is I now am but technically I have the same rights and abilities as a bank, but it was more to make open the books if need to search for money laundering etc. Such a wonderful thing to have looming over my head, knowing that they could come by any time and demand an audit etc.
I doubt it will happen, but it gives them clearance to do what they want.

 

[fatsmahoney]

just look the pennies you get in change theyre almost all zinc now that the price of zinc is going up we wont even see zinc any more well see wooden pennies

 

[bigtime400]

You know if you think about it I am not quite sure it would be profitable for the Gov. First off I dont know anything about the machines they use but they may have the cost of changing or adjusting the machines provided you can just adjust them to eject silver. But what I do know is that Governemt jobs pay well and have good benifits usually and at some point someone is going to have to handle that coin. So are they going to have 3 or 4 people making 30-40 grand a year with benifits at each reserve site searching for these?

 

[TT]

Since Jackson Metals and now the government is involved, everyone should close up shop. I have given it some thought. The boxes have been brutal by me. I have pulled 4-40s out of the last 20 boxes.

As for the cashless society, I agree that it is here...but it must be resisted at all costs. It would be tragic if everything was only plastic.

 

[jewelerdave]

People keep talking about government profitability...since when the heck has the government been concerned about profits and losses,
Couldn't be the same government who subsidize things are they?
or practice spending money they dont have? deficit spending.
Or toss money and people at any number of problems and projects where there is no return on investment or pay out or clear objective, Iraq*cough*

Also not the same people who spent what, 20k on a hammer, or over 100k to make a pen that wrote in space...Wanna know what the Russians did.... They used a pencil.
This is also not the same government that spent 60k to have a few washers and bolts delivered by a private company to Iraq who just sent hardware store items and charged the Government for it. Or the same one that pays bills that people randomly send for vast sums of money with out checking on it.

this is also not the same government that is making pennies and nickels at a loss right now?
Nor could it be the same government that has let its currency go to junk.
Or the same government that does special things for special interest groups and companies who make...contributions. Jackson metals?
Did you know that you could use bribes to government officials as a tax wright off up until about 5 years ago.

Oh no....couldn't be the same government.
They have done much crazier things, I would not be surprised

 

[chevrolet454ss]

Us mint could repeating history again like In 1967 with silver quarters and dimes in 1968.

["TREASURY DEPARTMENT; WASHINGTON, D.C." letterhead with star-encircled seal on right.]

June 4, 1968

FOR USE IN ANSWER TO INQUIRIES
(Prepared in concurrence with the Federal Reserve System)

Since July 1967, when the Treasury Department ceased its sales of silver at $1.29 per ounce, the Treasury and the Federal Reserve Banks have been issuing clad dimes and quarters only, and holding in inventory mixed silver and clad dimes and quarters as they normally flow back to the Federal Reserve Banks. When these are separated, the clad coins will be returned to circulation and the silver coins will be held at the Mints for melting. The coin-silver bullion will be made available for industrial use through weekly sales by the General Services Administration.

The Bureau of the Mint has been working for some time with commercial firms on the development of machines to separate the mixed coins, which now amount to 3.0 billion dimes and 1.3 billion quarters.

The Mints at Philadelphia and Denver and the San Francisco Assay Office have a number of machines in operation. Several of the larger Federal Reserve Banks have also installed separating machines, furnished by the Bureau of the Mint, and begun operations. These are at Boston, Cleveland and Chicago. Others will follow as separating machines become available.


In 1968 they were removing silver coins and melting them down and replacing with clad coins. Your goverment could be doing again with Half dollars and pulling pre 1982 copper pennys.

Jackson metals may have created an shortage on halfs since they bought over 14 million of them at face value . Thats 28 million coins. Thats an lot halfs for sure.

That leter above is an press release from us mint talking about removing silver back in 1968.

Chevrolet454ss

 

[TT]

28 million coins is definitely a lot to you or I. I probably would never even handle that many hald dollar coins in a lifetime. However, compared to the mintages of half dollar coins it is not even on the radar screen.

 

[blurr]

28 million coins is definitely a lot to you or I. I probably would never even handle that many hald dollar coins in a lifetime. However, compared to the mintages of half dollar coins it is not even on the radar screen.

Correct. Everyone loves a good conspiracy theory as to why they aren't finding what they feel they should. Do you really think the government is sifting through billions of coins to pull out the few thousand that they inevitably would find for the silver? This is small peanuts folks. This is the same government that pays $400 for a toilet seat. I don't see it myself, but I guess it makes for good conversation, and an excuse as to why people are getting skunked.

John