the fed is removing silver coins from circulation too

FiresEye · Nov 10, 2010

I imagine they get the good shipments and cull the silver. I've always thought this, but I've confirmed it with a coin machine owner, and a bank, and my own intuition, thus is MUST be true. :tongue3:

But yeah, of course they are CRH, they probably have a position at the main headquarter type bank coins storages that just searches or runs the silver searcher machine.
It just makes sense... no?
How cool would it be to be that guy.

Hi Ho Silver! · Nov 10, 2010

Sorry, but I doubt it. Regulations and camera's would have them cuffed and removed quickly.

Rakattack · Nov 10, 2010

I'm not sure if they still do it, but I know they used to. It wouldn't surprise me. If the US treasury will cull old bills out of circulation why wouldn't the US mint? :dontknow:

Thank goodness my pickup bank has one large branch that wraps their own coins from close to 100 branches :icon_sunny:

FiresEye · Nov 10, 2010

No, I mean like they KNOW about it, and are paying people to do it. The person woulden't keep any for themsevles of course, because they don' want to loose the job.

If they aren't doing, they sure as heck know about it. And does the US govt sound like the govt. that would let all that silver slip through thier fingers?

Rakattack · Nov 10, 2010

FiresEye said:
No, I mean like they KNOW about it, and are paying people to do it. The person woulden't keep any for themsevles of course, because they don' want to loose the job.

If they aren't doing, they sure as heck know about it. And does the US govt sound like the govt. that would let all that silver slip through thier fingers?

Once again, I wouldn't be surprised. When money is as tight as it is, everyone including the government is looking for easy ways to make money. I would bet money that if they are culling silver, it's going into them new commemoratives and ASE's.

fistfulladirt · Nov 13, 2010

Until someone here can provide absolute proof, it's never happened.

timbobwey · Nov 13, 2010

I'm gonna say that they probably aren't. If they wanted to do it they would just pull all half dollars out of circulation. If that ever happens, then that's probably what they are doing.

dave5710 · Nov 14, 2010

If banks machines and Coinstar machines can reject silver coins, surely the fed would have them as well. Why buy silver to make coins when you have it sitting in your vaults.

Diver_Down · Nov 14, 2010

dave5710 said:
If banks machines and Coinstar machines can reject silver coins, surely the fed would have them as well. Why buy silver to make coins when you have it sitting in your vaults.

Your assumption is rooted in efficiency. You realize that this is the Federal Government? In addition, the Mint and the Federal Reserve are 2 separate entities. Have you seen such cooperation between two agencies before? On top of that, the Mint doesn't manufacture silver planchets. They outsource it. The silver planchets are procured from a private third party. The only planchets the Mint manufactures are clad. They don't even make the zincoln planchet.

sneak · Nov 14, 2010

fistfulladirt said:
Until someone here can provide absolute proof, it's never happened.

I agree!

Rich Hartford · Nov 14, 2010

Why on earth would the Fed remove silver coins from circulation when they can create and pocket gazillions of dollars whenever they feel like it.
HH
Rich

Jimmy@romega · Nov 14, 2010

This would be a good one for jesse ventura to look into.

Numismaniac · Nov 14, 2010

Rich is right, no need to work for the silver when the Fed can just create another $600B out of thin air... Oh well, for the rest of us we must CRH :headbang:

FiresEye · Nov 14, 2010

dave5710 said:
If banks machines and Coinstar machines can reject silver coins, surely the fed would have them as well. Why buy silver to make coins when you have it sitting in your vaults.

Exactly.

And maybe not the fed itself, but the top corporation money changers.. They are wayyy onto this. I'd be surprised to find ANY silver in a box in say, 5 or 10 years.

About the fed being able to create money so why would they need the silver? Because to back up this currency and prevent collapse, they NEED the silver, as hard time barter... trust me.

Also, Just imagine how much us CRH's have gotten. They would be able to net billions in silver coins from circulation if they started years ago, which they did.
But silver is just one part of their plan.. just look at gold. Also Gasoline.. like how the prices are controlled by way too variant factors.

I still vouch that silver makes great weapons...

dp2013 · Nov 15, 2010

I'm with Rich.

jim4silver · Nov 15, 2010

This topic pops up every few months. So far, nobody has ever shown any proof that any culling goes on by any coin rolling facility, etc.

When NONE of the CRHers here find any silver in their boxes for a period of 6 months or longer, then I will believe that they are removing the silver. The silver cullers are all the CRHers doing either 20 boxes per week without fail or 2 boxes per week, not the fed or coin couriers.

If they were culling silver the machine would not miss so many. I have been on this site for over 2 years and people have been making this false claim (culling) as long as I remember. Been alot of good finds in boxes reported on here in the past 2 years from all across the country.

The gov doesn't need the paltry amount of silver still floating around in circulation. To put it in perspective, 100,000 ounces of pure silver is $2.6 million dollars worth now. Anyone think there is anywhere near that much silver circulating through the banks in old US coinage? What good is $2.6 million to the gov?

Jim

AGCoinHunter · Nov 15, 2010

The fed isn't culling silver. The silver cullers are all of us! Also if you think about it silver is now being "culled" at the point of entry back into circulation as many types of coin counters now reject silver and it doesn't have that means to be put back into the system that way. Silver coins being spent and returned back to suppliers by means other than coin machines allows for silver to be put back into the system.
Previously I have dug around looking to see if there was any hard truth to silver being culled by the coin couriers and the only thing I could find was rumors that in the southwestern US there was one that was suspected of doing it. Now this is a rumor and there is no evidence (other than JRF30's poor silver finds in AZ) to substantiate it.

Rich Hartford · Nov 15, 2010

I have had Loomis boxes that were opened and reglued and found top coins removed. However I did find silver in these boxes. So the enders were taken but by whom I'm not sure. Could have been by bank employees or the drivers. A glue gun was used to reseal the boxes.
It does not happen often though.
HH
Rich