query: when did the us government stop using silver in coins

pos: Coinage Act of 1965 Coinage Act of 1965 The Coinage Act of 1965, , eliminated silver from the circulating United States dime (ten-cent piece) and quarter dollar coins. It also reduced the silver content of the half dollar from 90 percent to 40 percent; silver in the half dollar was subsequently eliminated by a 1970 law. There had been coin shortages beginning in 1959, and the United States Bureau of the Mint expanded production to try to meet demand. The early 1960s was a time of increased use of silver both in the coinage and in industry, putting pressure on the price of silver,

pos: Bahamian dollar was scallop shaped, whilst the 15 cent was square. Silver coins were not issued for circulation after 1966. Bronze replaced nickel-brass in the 1 cent in 1970, followed by brass in 1974 and copper-plated zinc in 1985. In 1989, cupro-nickel 50 cent and 1 dollar coins were issued for circulation, although they did not replace the corresponding banknotes. The current 1 cent coin is about the size of a US dime, the 5 and 25 cent coins are about the same size as their US counterparts but with different metal compositions. The 15 cent coins are still produced by the

pos: Silver coin of Europe eventually began to issue large size silver coins. Europeans then used these silver coins to purchase goods abroad which eventually led to inflation. The great amounts of new silver supply caused the relative value of silver against gold to drop. US dimes, quarters, half dollars and dollars were minted in 90% silver until 1964. Produced to save nickel for the war effort, war nickels 1942-1945 are 35% silver (silver nickel production started part way into 1942). Half-dollar coins minted between 1965 and 1970 are 40% silver, but from 1971 on, contain no silver. After silver was removed from

neg: Quarter (United States coin) did not reappear on any US coin denomination until 1968. During the early 1960s, the Federal government had been flooding the market with silver to keep the price down, and therefore keep US coins' intrinsic values from exceeding their face values. This was causing the level of silver in the US Reserves to reach dangerously low levels. Silver was estimated to only last another 3–5 years at the rate the Mint was manufacturing coins, so the US Congress authorized the Mint to research alternative materials for the silver denominations (dime, quarter dollar, half dollar, and dollar). The material chosen was

neg: Historical money of Tibet Nepalese supplied mohars (silver coins which weighed about 5.4 grams) of good silver, but wanted these to circulate at the rate of one new mohar for two of the old adulterated silver coins struck by the Malla kings. This would have meant a tremendous loss for the Tibetan traders, and so the Tibetan Government did not accept these terms. The second Shah king, who ruled from Kathmandu, Pratap Singh Shah, supplied alloyed silver coins during the period 1775 until 1777. Thereafter, when the Nepalese again tried to introduce into Tibet coins of good silver, which should have circulated at a

neg: Silver standard the Spanish real. Because of the huge debt taken on by the US federal government to finance the Revolutionary War, silver coins struck by the government left circulation, and in 1806 President Jefferson suspended the minting of silver coins. The US Treasury was put on a strict hard money standard, doing business only in gold or silver coin as part of the Independent Treasury Act of 1846, which legally separated the accounts of the federal government from the banking system. However the fixed rate of gold to silver overvalued silver in relation to the demand for gold to trade or

neg: Coin's Financial School the “Crime of 1873”, when the Fourth Coinage Act was passed. The act demonetized silver, as well as abolished its right to free coinage. Under free coinage, the government purchased and coined any silver that was sold. At the time, most people were using paper money, diminishing the importance of gold and silver coins. This gave the news and the people little reason to care about the demonetization of silver, according to Coin. The law was passed in relative obscurity, as newspapers did not report on it at the time of the law's passage, and then-president Ulysses S. Grant claimed

neg: Money burning valuable as a commodity, usually when inflation causes its face value to fall below its intrinsic value. For example, in India in 2007, Rupee coins disappeared from the market when their face value dropped below the value of the stainless steel from which they were made. Similarly, in 1965, the US government had to switch from silver to copper-nickel clad quarter coins because the silver value of the coins had exceeded their face value and were being melted down by individuals for profit. At the peak of inflation in the Weimar Republic, people burned banknotes for warmth, as their face

neg: In God We Trust $20 coin which did not bear the motto. The motto has been in continuous use on the one-cent coin since 1909, and on the ten-cent coin since 1916. It also has appeared on all gold coins and silver dollar coins, half-dollar coins, and quarter-dollar coins struck since July 1, 1908. Since 1938, all US coins have borne the motto. During the Cold War era, the government of the United States sought to distinguish itself from the Soviet Union, which promoted state atheism and thus implemented antireligious legislation. The 84th Congress passed a joint resolution "declaring IN GOD WE TRUST the

neg: Salvadoran colón with the farm's name and were used as payment to employees, the sheets only had value in the farm store that issued it, so it created a kind of monopoly. During the existence of the Central American Federation, the monetary system did not change with respect to the colonial system and continued using silver by weight as the main currency with circulation of macaques and property sheets. Once the federation dissolved, the Salvadoran government decreed the issuance of the first national currency, "Reales", gold coins engraved with an "R" and the "Escudos (Shields)" were silver coins with an "E" engraved.

neg: Silver coin introduction: Privately minted "silver rounds" or "generic silver rounds" are called "rounds" instead of "coins" because the US Mint and other government mints reserves the use of the word "coin" for Government Issued currency with a face value expressed in the national currency. The privately minted "rounds" usually have a set weight of 1 troy ounce of silver (31.103 grams of 99.9% silver), with the dimensions of 2.54 mm thick and 39 mm across. These carry all sorts of designs, from assayer/mine backed bullion to engravable gifts, automobiles, firearms, armed forces commemorative, and holidays. Unlike silver bullion coins, silver rounds

neg: Paris under Napoleon the restoration of the monarchy, when a campaign of repression began. The metric system was introduced in 1803, as was the franc, worth one hundred centimes, and the "sou", worth five centimes. The gold Napoleon coin was worth either 20 or 40 francs, and the government also issued silver coins worth five, two and one franc. The government did not have the resources to collect and remake all the coins of the former regimes, so the gold Louis, with an image of the King, worth 24 pounds, and the écu, a silver count worth three of six pounds, were also

neg: Southern Song dynasty coinage itself. After Wang Anshi reformed the fiscal administration of the Southern Song between 1069 and 1085, silver became a vital element in administrative book-keeping, especially in certain regions rich in silver such as modern-day Sichuan. Until 1179 the Northern Song era's policies of casting coins in varying typefaces continued but after this year most coins tended to only have Regular script inscriptions. Beginning in 1180 coins cast by the Southern Song government started to cast the reign year on the reverses of coins as well as mint marks in order to stop forgeries from circulated, this was because the technology

neg: Kalākaua circulate them. Business owners feared economic inflation and lost faith in the government, as did foreign governments. Political fallout from the coinage led to the 1884 election-year shift towards the Kuokoa (independent) Party in the legislature. It passed the Currency Act to restrict acceptance of silver coin as payment for debts under $10. Exchange of silver for gold at the treasury was then limited to $150,000 a month. In 1903, the Hawaii silver coins were redeemed for US silver and melted down at the San Francisco Mint. Kalākaua's 50th birthday on November 16, 1886, was celebrated with a two-week jubilee.

neg: Turban Head eagle on the left and six on the right. Only 2,000 pieces were struck in 1798, but the following year demand for the eagle surged, and over 37,000 were struck. The precious metal composition of US coins was calculated such that gold would be fifteen times as valuable per ounce as silver. By the turn of the 19th century, the price of gold in terms of silver had risen to approximately 15.75 to one. This made it profitable for merchants to buy gold coins at face value using silver coins, and export the gold to Europe. Gold vanished from circulation in

neg: Vajiravudh Siamese troops did not see much action, as they arrived in Europe towards the end of the war. Participation in the war allowed Siam to later negotiate with the Western powers as a partner, albeit a junior one. In 1917, the price of silver rose and exceeded the face value of silver coins. The coins were then melted down and sold. The government solved this by changing the pure silver coin to alloy. Vajiravudh eventually forbade exports of Siamese coins. In 1918, the usage of 1-baht coins was nullified and 1-baht banknotes were introduced. Coins were recalled and kept as

neg: Gold standard 1848 placed the U.S. on a strict hard-money standard. Doing business with the American government required gold or silver coins. Government accounts were legally separated from the banking system. However, the mint ratio (the fixed exchange rate between gold and silver at the mint) continued to overvalue gold. In 1853, the US reduced the silver weight of coins to keep them in circulation and in 1857 removed legal tender status from foreign coinage. In 1857 the final crisis of the free banking era began as American banks suspended payment in silver, with ripples through the developing international financial system. Due

neg: Group 11 element Gold coins are typically produced as either 90% gold (e.g. with pre-1933 US coins), or 22 carat (91.66%) gold (e.g. current collectible coins and Krugerrands), with copper and silver making up the remaining weight in each case. Bullion gold coins are being produced with up to 99.999% gold (in the Canadian Gold Maple Leaf series). Silver coins: Silver coins are typically produced as either 90% silver – in the case of pre 1965 US minted coins (which were circulated in many countries), or sterling silver (92.5%) coins for pre-1920 British Commonwealth and other silver coinage, with copper making up the

neg: Bomberman Fantasy Race lit blue light if they have coins, and a red one if they are full. Players exchange hundred Copper coins for one Silver coin, and ten Silver coins for one Gold coin. When a safe in the bank is full, the coins are exchanged automatically. Coins can be used to buy new creatures at the stable, items, and courses. Players are able to throw or drop bombs during a race. Other than using bombs to attack other opponents, players can use a bomb dash, giving their creatures an acceleration boost. Creatures are able to dash using stamina for a limited

neg: Euro gold and silver commemorative coins value 10 and 20 euro respectively. Slovenia joined the Eurozone on January 1, 2007. Although they did not mint any collectors' coin in 2007, in such a short time they already built a small collection, with face values ranging from €3 to €100. Is right here, in the face value, where the uniqueness of the Slovenian coins can be found. They have so far €3, €30 and €100 coins; using other materials, silver and gold for each of those coins. Since the coins are fairly new, they can be easily obtained in the market at a lower value compared to

neg: Historical money of Tibet by the Chinese; the coins of this period had only Tibetan inscriptions and designs, and made no reference whatsoever to China. The only incident which interrupted the production of purely Tibetan coins occurred during the short period of 1909 to 1910 when the Tibetan Government struck copper and silver coins dated to the first year of the Xuan Tong era (1909), and in 1910 when the Chinese Amban (representative of the Imperial Chinese Government) in Lhasa had silver and copper coins struck with legends in Chinese and Tibetan. These are the only coins minted in Tibet which can be considered

neg: Kalākaua coinage court found that Dole and his associates should have filed for an injunction. But when they did, the petition was denied. In the interim at a meeting chaired by the king, the privy council had declared the new coinage a legal tender; once the lawsuit was resolved, the government paid for a half million dollars in coins with a like amount of bonds. Spreckels and his partners William G. Irwin and F. F. Low formed the Spreckels & Company Bank in Hawaii in 1884, for the specific purpose of circulating the silver coins. The first Hawaiian silver coin known to

neg: One guilder coin (1840–49) of the rising silver prices after the First World War, from 1922 onward the silver content of most Dutch coins were lowered. Then, on 31 December 1931 all Dutch guilder coins struck prior to 1922 were redeemed and demonetized. The number of coins handed in this way was quite low, probably many of them had been melted down for their silver content. The design of the reverse of the guilder coin did not change from 1818 to 1945. The obverse depicts: The edge: Plain, inscribed "GOD ZY MET ONS" (God be with us) The reverse depicts: One guilder coin (1840–49)

neg: Belgian coins of World War II penny. Some of these coins have a slightly different weight, and thus their blank planchets would have been specifically made for this foreign denomination. Belgian coins of World War II During World War II, the Belgian government needed to mint coins using metal that would not be needed for the war effort. Therefore, silver coinage was discontinued and coins were instead minted using pure zinc. In 1944, shortly before the Liberation, the Allies minted 25 million 2 franc coins at the Philadelphia Mint, which were put in circulation after Belgium regained its independence. The 1 Franc coin was circulated through

neg: Currency of Ecuador 1909 gold 900 fine dated 1899–1900 (Heaton mint) To mint the cóndor, the government sold 3 million sucres in silver coin (all the half-sucre coins and all the foreign silver that it had taken from circulation in southern Ecuador). The cóndor was minted at Birmingham and issued through the private banks Banco Comercial y Agrícola and Banco del Ecuador. The gold standard was suspended in 1914 and banknotes were declared unconvertible tender. The price of silver rose and its export was embargoed. The exchange rate remained at par (2.055 per US$1) until 1918, when progressive depreciation set in. The government

neg: Argentine real together with ¼, ½ (actually shown as ), 1 and 2 reales. They were all minted of copper. Other provinces issued coins denominated in reales (silver) and escudos (gold): Córdoba, Entre Ríos, La Rioja, Mendoza, Salta, Santiago del Estero and Tucumán. Since these coins were scarce, it was common to use silver coins from other countries (especially Bolivian soles). In 1854, coins were issued in the name of the "Argentine Confederation" in denominations of 1, 2 and 4 centavo coins. As notes above, this issue did not lead to full decimalization. In 1820, the Government of the Province of Buenos

neg: Lafayette dollar the Treasury, and were held in $1,000 sacks. This followed poor sales of the new coin in Paris—only 1,800 sold there; some 10,000 were returned to the United States. They were held for many years. In 1945, Omaha coin dealer Aubrey Beebe learned about the coins from government records and enquired, only to be told that the coins had been recently melted. The Lafayette dollar is the first American coin to depict a US citizen. After the Lafayette piece, the Mint did not again strike a commemorative silver dollar until the 1983-S Los Angeles Olympics dollar. In 1925, numismatist George

neg: Currency of Uruguay 500 pesos in coins, dated 1840, were actually produced. The Government put the first of these coins into circulation on 15 October 1840 (and, since 1990, Uruguay has celebrated 15 October as "Día de la Numismática Nacional"). Copper coins and a silver peso were authorized by laws 254 and 255 of 13 December 1843, during Uruguay's long civil war, known as La Guerra Grande. The government established a mint ("La Casa de Moneda de Montevideo") that produced three copper denominations and a silver "peso fuerte" or "peso del Sitio" (aka "Montevideo dollar" in English). Uruguay did not issue any paper

neg: Economy of Paris the "sou", worth five centimes. The gold Napoleon coin was worth either 20 or 40 francs, and the government also issued silver coins worth five, two and one franc. The government did not have the resources to collect and remake all the coins of the former regimes, so the gold Louis, with an image of the King, worth 24 pounds, and the écu, a silver count worth three of six pounds, were also legal currency. The coins of all the states within the Empire were also in circulation, including those of the German states, northern and central Italy, the Netherlands,

neg: Silver standard borrow from England. Following Gresham's law, silver poured into the US, which traded with other silver nations, and gold moved out. In 1853 the US reduced the silver weight of coins, to keep them in circulation, and in 1857 removed legal tender status from foreign coinage. In 1857, the final crisis of the free banking era of international finance began, as American banks suspended payment in silver, rippling through the very young international financial system of central banks. In 1861 the US government suspended payment in gold and silver, effectively ending the attempts to form a silver standard basis for

neg: First Opium War heavy taxes on merchants. These taxes did not abate after the rebellion was crushed, as the Chinese government began a massive project to repair state-owned properties on the Yellow River, referred to as the "Yellow River Conservancy". The merchants of Canton were further expected to make contributions to fight banditry. These taxes weighed heavily on the profits made by the Cohong merchants; by the 1830s, the once-prosperous Cohong had seen their wealth greatly reduced. In addition, the declining value of China's domestic currency resulted in many people in Canton using foreign silver coins (Spanish coins were the most valued, followed

neg: Venetian grosso change the coinage without authorization from the council. Change did come, however. Between 1340 and 1370, increases in the price of silver forced most of the doges to stop issuing grossi, and the others to issue only a few. When Doge Andrea Contarini resumed production of grossi their weight began to fall and continued falling until Cristoforo Moro struck the last Venetian grossi with a weight of 0.45 grams. Other Italian mints followed the example of Venice by issuing their own grossi. Verona, Bologna, Reggio, Parma and Pavia all had coins of pure silver with weights roughly that of the

neg: Sherman Silver Purchase Act gold reserves. In 1890, the price of silver dipped to $1.16 per ounce. By the end of the year, it had fallen to $0.69. By December 1894, the price had dropped to $0.60. On November 1, 1895, US mints halted production of silver coins, and the government closed the Carson City Mint. Banks discouraged the use of silver dollars. In fact, the years 1893-95 had the lowest productions of Morgan dollars for the entire series, creating several scarce coins. Sherman Silver Purchase Act The Sherman Silver Purchase Act was a United States federal law enacted on July 14, 1890. The

neg: Euro gold and silver commemorative coins special coin: the €100,000 Vienna Philharmonic, only 15 coins minted. Austria uses mainly gold and silver for its collectors' coins. However, since 2003 a special bimetal coin, €25 face value, has been minted using silver and colored niobium, giving this set of coins a unique characteristic, since they have different color variations every year. With the exception of the 2004 Vienna Philharmonic coin and the recently introduced 2008 silver €1.25 Vienna Philharmonic, there is no variation in the number of issues when sorted by face value, from €5 to €100 there is a similar number of issues every year. A

neg: Belgian coins of World War II Belgian coins of World War II During World War II, the Belgian government needed to mint coins using metal that would not be needed for the war effort. Therefore, silver coinage was discontinued and coins were instead minted using pure zinc. In 1944, shortly before the Liberation, the Allies minted 25 million 2 franc coins at the Philadelphia Mint, which were put in circulation after Belgium regained its independence. The 1 Franc coin was circulated through Belgium from 1941. The 5 franc coin was minted between 1941 and 1947, first by the Germans during the occupation of Belgium, and then

neg: Banknote and silver. Both banknotes and coins are subject to inflation. The durability of coins means that even if metal coins melt in a fire or are submerged under the sea for hundreds of years they still have some value when they are recovered. Gold coins salvaged from shipwrecks retain almost all of their original appearance, but silver coins slowly corrode. Other costs of using bearer money include: The different disadvantages between coins and banknotes imply that there may be an ongoing role for both forms of bearer money, each being used where its advantages outweigh its disadvantages. Most banknotes are

neg: Chinese Modern Coins was first released in 1982 and the 27th year of the Silver Panda Coin that began in 1983. It was also the Year of the Ox in the Chinese Lunar Year calendar with the China Mint releasing commemorative coins in both gold and silver including colored issues and the rectangle silver and gold coins both weighing 5 troy ounces. Chinese Modern Coins Chinese modern coinage dates from 1979 when the China Mint issued its first commemorative coins in their precious metal coin program that continues to this day. In 1976, the Government of the Philippines proposed through the United Nations

neg: Silver coin US circulating coins the US Mint made special commemorative coins minted for sale to coin collectors and, starting in 1986, bullion coins primarily sold to investors. Both types, although legal tender, are not expected to circulate for commerce. Various governments mint, or authorize the minting of, silver bullion coins with a nominal face value in the national currency. The face value is nominal because the value stated on the coin is much less than the value of the silver in the coin. The most common world silver bullion coins, preceded by minimum guaranteed purity, and ordered by their year of

neg: Euro gold and silver commemorative coins (Ireland) €15 silver proof coin commemorating the centenary of women's suffrage. Euro gold and silver commemorative coins (Ireland) This article covers euro gold and silver commemorative coins issued by the Central Bank and Financial Services Authority of Ireland. It also covers rare cases of collectors coins (coins not planned for normal circulation) minted using other precious metals. It does not cover either the Irish €2 commemorative coins or the Irish Pound commemorative coins. For euro gold and silver commemorative coins of other countries see Euro gold and silver commemorative coins. A silver 10 Euro commemorating John McCormack (1884-1945), an Irish tenor

neg: Euro gold and silver commemorative coins (Ireland) Euro gold and silver commemorative coins (Ireland) This article covers euro gold and silver commemorative coins issued by the Central Bank and Financial Services Authority of Ireland. It also covers rare cases of collectors coins (coins not planned for normal circulation) minted using other precious metals. It does not cover either the Irish €2 commemorative coins or the Irish Pound commemorative coins. For euro gold and silver commemorative coins of other countries see Euro gold and silver commemorative coins. A silver 10 Euro commemorating John McCormack (1884-1945), an Irish tenor and a Papal Count. A gold 20 Euro commemorating Brian

neg: Euro gold and silver commemorative coins (Spain) Euro gold and silver commemorative coins (Spain) This article covers euro gold and silver coins issued by the Royal Spanish Mint. It also covers rare cases of collectors coins (coins not planned for normal circulation) minted using other precious metals. This article however, does not cover either the Spanish €2 commemorative coins or the Spanish peseta commemorative coins. Other countries' euro gold and silver collections are discussed in the article Euro gold and silver commemorative coins. The Royal Spanish Mint is a public business entity, Its production of the coins takes place in two industrial plants, one in Madrid and

neg: Euro gold and silver commemorative coins (San Marino) Euro gold and silver commemorative coins (San Marino) This article covers euro gold and silver commemorative coins issued by Azienda Autonoma Di Stato Filatelica E Numismatica. It also covers rare cases of collectors coins (coins not planned for normal circulation) minted using other precious metals. It does not cover either the San Marino €2 commemorative coins or the Sammarinese scudo commemorative coins. For euro gold and silver commemorative coins of other countries see Euro gold and silver commemorative coins. San Marino has adopted the Euro since 2002 as its currency, However, in a means to maintain its own cultural identity

neg: Angolan escudo In 1927, cupro-nickel 1, 2 and 4 macuta and 50 centavo coins were introduced. These coins continued to circulate when the angolar was introduced, with bronze 10 and 20 centavo coins introduced in 1948. In 1952, the first escudo coins were introduced, although the escudo did not officially replace the angolar until the end of 1958. Silver 10 and 20 escudos were introduced in 1952, followed by bronze 50 centavos and 1 escudo, and cupro-nickel 2½ escudos in 1953. Cupro-nickel replaced silver in the 10 escudos in 1969, with nickel replacing silver in the 20 escudos in 1971. Cupro-nickel 5

neg: Mining in Roman Britain be sent all over the Roman Empire for minting. When inflation took hold in the third century A.D. and official coins began to be minted made of bronze with a silver wash, two counterfeit mints appeared in Somerset - one on the Polden Hills just south of the Mendips, and the other at Whitchurch, Bristol to the north. These mints, using Mendip silver, produced coins which were superior in silver content to those issued by the official Empire mints. Samples of these coins and of their moulds can be seen in the Museum of Somerset in Taunton Castle. Britain's gold

neg: Euro gold and silver commemorative coins by the metal used, while in the second section they are grouped by their face value. Ireland joined the eurozone in 2002, however it did not mint any collectors' coins until 2003. Ireland has kept its issues to the very minimum with one or two coins per year. The record was reached in 2008, when four coins where issued. The vast majority of the Irish coins are made of silver, only since 2006 have Irish euro collectors' coins been seen in gold. In 2003, a very special coin was issued, the only one with a face value of €5 minted

neg: Seigniorage value, thereby balancing exactly the revenue received when it was put into circulation, without any additional amount for the interest value of what the issuer received. Historically, seigniorage was the profit resulting from producing coins. Silver and gold were mixed with base metals to make durable coins. Thus the British "sterling" was 92.5% pure silver; the base metal added (and thus the pure silver retained by the government mint) was (less costs) the profit, the seigniorage. United States gold coins before 1933 were made from 90% gold and 10% copper. To make up for the lack of gold the coins

neg: Cross of Gold speech export either US gold or silver coins. When silver prices rose relative to gold as a reaction to the California Gold Rush, silver coinage was worth more than face value, and rapidly flowed overseas for melting. Despite vocal opposition led by Tennessee Representative (and future president) Andrew Johnson, the precious metal content of smaller silver coins was reduced in 1853. Silver was now undervalued at the Mint; accordingly little was presented for striking into money. The Coinage Act of 1873 eliminated the standard silver dollar. It also repealed the statutory provisions allowing silver bullion to be presented to the Mint

neg: Milled coinage Tower Hill. When Spain introduced coinage to America in 1536, coins were still hammered. The fineness of the silver in this coinage was reduced in 1732 and the Mexico City mint began striking the new coins using machinery. Other Spanish American mints followed and their thaler size silver coins are widely known as Spanish Milled Dollars. The Spanish Milled Dollar, and its successor the Mexican Peso, were widely used in trade with the Orient, where coins were previously cast. In what is now Vietnam, emperor Minh Mạng introduced a coin based on the Spanish Milled Dollar in 1832. The subsequent

neg: Sino-Nepalese War of Betrawati. Tibet had been using Nepalese silver coins since the time of the Malla kings. When Prithvi Narayan Shah of the Gorkha Kingdom launched an economic blockade on the Kathmandu Valley during his unification campaign, Jaya Prakash Malla of Kathmandu faced an economic crisis which he tried to alleviate by minting low quality coins mixed with copper. After Prithvi Narayan Shah successfully conquered the Kathmandu Valley in 1769 and firmly established the rule of the Shah dynasty in Nepal, he reverted to minting pure silver coins. But by then the damage to the confidence of the Nepalese minted coins

neg: Junk silver spot price for silver is the price for a troy ounce of silver which is 99.9-percent pure, or 999 fine. Silver coins including junk-silver coins have set silver-alloy contents ranging from 35-percent to 90-percent or more. The term "coin silver," for example, refers to 90-percent silver alloy which was the most common alloy used to mint silver U.S. coins. Any combination of 90-percent silver U.S. coins which have a face value of US$1.00 contains 0.715 troy ounces of 99.9-percent silver (0.7234 troy ounces if uncirculated), except for the silver dollars (Morgan and Peace) which contain .7736 troy ounces of silver.

neg: Kalākaua coinage community to think in terms of the US dollar, and it became the basis for trade, with the Hawaiian royal government periodically publishing tables of the value of non-US coins in terms of the dollar. This was necessary because such coins, brought to the islands by foreign trade, circulated as a means of exchange alongside American silver and gold pieces. In 1847, King Kamehameha III issued a one-cent coin, most likely struck by a firm in New England. It was unpopular with merchants, who preferred not to deal with such small amounts. Some were issued in change in government transactions,

neg: History of the Canadian dollar of crowding the government one-dollar and two-dollars notes out of circulation. The solution was to collect the US and British coins and export them, while providing that in the future, their par value would be fixed by statute at only 80% of their face value. Francis Hincks, back in office as federal Minister of Finance, worked with bankers led by William Weir to successfully repatriate the silver coins to the United States and Britain. There was a similar issue with copper coinage. Prior to Confederation, a large variety of copper coins had circulated: pennies issued by the provincial governments, US

neg: Silver coin carry no face value and are not considered legal tender. Similarly, both government and private sector mints issue silver bars for investors and collectors without a nominal face value. Silver coins have evolved in many different forms through the ages; a rough timeline for silver coins is as follows: Silver coins were among the first coins ever used, thousands of years ago. The silver standard was used for centuries in many places of the world. And the use of silver for coins, instead of other materials, has many reasons: A silver coin or coins sometimes are placed under the mast

neg: Coins of the Philippine peso standing female figure (considered by many to be the daughter of the designer 'Blanca') in the act of striking the anvil with a hammer. This was done to show the work being done by Americans in building a better Philippines. Liberty appears on the silver coins, instead of the base metal coins. The reverse of the coins comes in two varieties. The earliest coins were minted when the islands were a US Territory, and they bear the arms of the US Territories. This is a broad winged eagle, sitting atop a shield divided into two registers. The upper register has

neg: Venezuelan real new coins to enter circulation, replacing the 1820s reales). The "real" moniker would continue to be used as a subdivision of the peso until 1863 when the last coin bearing "real" was struck. From 1802, copper ⅛ and ¼ real coins were issued. Silver 1 and 2 reales followed in 1810. In 1812, the Republican government issued copper ⅛ and ¼ real and silver ½ and 1 real. From 1813, the provinces of Guayana and Maracaibo issued copper ⅛ and ¼ real coins. The Royalists issued silver 1, 2 and 4 reales between 1817 and 1821. During the period Venezuela

neg: Pound sterling silver, named after its association with the currency. Sterling silver is harder than the 0.999 (99.9%) fine silver that was traditionally used, and so sterling silver coins did not wear down as rapidly as fine silver coins. The English currency was almost exclusively silver until 1344, when the gold noble was successfully introduced into circulation. However, silver remained the legal basis for sterling until 1816. During the time of Henry III, the pound sterling equalled the tower (weight) pound. In the 28th year of Edward I (around 1300), the tale (money) pound, or pound sterling, first began to differ from

neg: Mauritian rupee Mauritian rupee The rupee (sign: ₨; ISO 4217 code: "MUR"; pronunciation: [ʁupi]) is the currency of Mauritius. One rupee is subdivided into 100 "cents". Several other currencies are also called rupee. In 1877, coins for 1, 2, 5, 10 and 20 cents were introduced, with the lower three denominations in copper and the higher two in silver. Coin production ceased in 1899 and did not recommence until 1911, with silver coins not produced again until 1934, when ¼, ½ and 1 rupee coins were introduced. In 1947, cupro-nickel 10 cents were introduced, with cupro-nickel replacing silver in 1950.1000 In 1971

neg: Fanery a person dies that these Fanery are buried with them, with the result that over time these have for the most part vanished and today are exceedingly scarce. It does happen that when silver in the form of old coins becomes available, the traditional silver Fanery gets copied. Prior to 1895 there was no local currency. The silver coins that came from abroad were often cut into smaller pieces to satisfy the need for smaller denominations. These bits were called "Monnaie Coupee". In certain Southern areas the inhabitants preferred to transform the foreign coins into Fanery. This they did both

neg: Legal tender only 48 cents of silver. This is the reason for the $5 limit of silver coins as legal tender; paying somebody $100 in the new silver coins would be giving them $96 worth of silver. Most people preferred bank check or gold coins for large purchases. During the early American Civil War, the federal government first issued United States Notes (the first greenback notes), which were not redeemable in gold and silver coins but could be used to pay "all dues" to the federal government. Since land purchases and duties on imports were payable only in gold or the new

neg: History of the Canadian dollar value higher than coins used in France (the "monnoye de France") but the New France coins were not successful because they had no value outside the colony.. Spanish-American coins minted in Mexico, such as the piastre, would sometimes come in through secret trade. The colonial government adopted a practice of over-stamping these coins with a fleur-de-lys and a Roman numeral indicating the weight of silver, and thus value. The over-stamped coins were then permitted to circulate. By 1685, the coin shortage had grown so severe that colonial authorities resorted to using playing cards as currency. The first issue of playing

neg: Robert Carson (numismatist) evidence from the metallurgical analysis of Roman coins, successfully argued that hoards of late Roman coins that contained a silver content as low as one or two per cent should be regarded as Treasure Trove. In this way, many important hoards which might otherwise have been dispersed were recorded and acquired by museums. The practice had to stop in 1982 when, as a result of a legal challenge, the Master of the Rolls, Lord Denning, decided that only objects with at least 50 per cent of gold or silver could be Treasure Trove. It took another 14 years before a

neg: Historical money of Tibet mass-produced silver coins were created under joint Chinese and Tibetan authority. Coins bearing Tibetan inscriptions only were subsequently replaced by issues which had Chinese and Tibetan legends. This lasted until the 1830s. In 1840 purely Tibetan coinage was struck under Tibetan authority, and this coinage continued being made until 1954, with only two short interruptions when Sino-Tibetan coins were issued. In 1910 the Tibetan government started producing a large range of copper and silver coins of different denominations, and in 1918 to 1921, gold coins were struck. Tibetan banknotes were first issued in 1913. From 1955 to 1959 no more

neg: Coin coins were worth less in metal than their face value. Fiat money first arose in medieval China, with the jiaozi paper money. Early paper money was introduced in Europe in the later Middle Ages, but some coins continued to have the value of the gold or silver they contained throughout the Early Modern period. The penny was minted as a silver coin until the 17th century. When Cyrus the Great (550–530 BC) came to power, coinage was unfamiliar in his realm. Barter and to some extent silver bullion was used instead for trade. The practice of using silver bars for

neg: Eloy Mestrelle minting of silver sixpences and threepences resumed, but little silver came to the Mint and few coins were produced, either with Mestrelle's machinery or using more traditional methods. 1564 proved even worse, as Mestrelle's machinery broke down, and although hammered coin production increased Mestrelle did not resume minting coinage until late 1566. Mestrelle minted a modest amount of coinage for the next two years until 1 September 1568 when his kinsman Philip Mestrelle was arrested for creating four Burgundian crowns that were counterfeit. At the 12 January 1569 City of London magistrates session Philip was convicted, and five days later

neg: Conder token Parys Mine Company. The British mint master did not entertain the offer. By 1786, two-thirds of the coins in circulation in Britain were counterfeit, and the Royal Mint responded by shutting itself down, worsening the situation. Few of the silver coins being passed were genuine. Even the copper coins were melted down and replaced with lightweight fakes. The Royal Mint struck no copper coins for 48 years, from 1773 until 1821. On the rare occasions when the Royal Mint did strike coins, they were relatively crude, with quality control nonexistent. In February 1787 Williams oversaw the minting of the first

neg: Kalākaua coins. The design would have the King's image on the obverse side, with Hawaii's coat of arms and motto ""Ua Mau ke Ea o ka ʻĀina i ka Pono"" on the reverse. In a deal with Claus Spreckels, he sponsored the minting by purchasing the required silver. In return, he was guaranteed an equal amount of six percent gold bonds, thereby giving him a guaranteed profit. When Hawaii's silver coins began circulating in December 1883, the business community was reluctant to accept them, fearing they would drive US gold coins out of the market. Spreckels opened his own bank to

neg: Debasement grams of silver, and then was reduced to 3.8 grams under Nero. The Denarius continued to shrink in size and purity, until by the second half of the third century, it was only about 2% silver, and was replaced by the Argenteus. Because of huge wealth, the Vijayanagara Empire in modern-day South India issued large quantities of gold coins. Harihara I and Bukka Raya I, who founded the Vijayanagar Empire, minted gold coins using debased gold. Gold fanams (a type of coin) and its fractions were minted by them for medium-end transactions. One reason a government will debase its currency

neg: Coins of the Hungarian forint new money. The first coins minted in 1946 were made of copper alloys in the case of the fillér coins and aluminium in the case of the 1 & 2 forint coins. Although the forint was based on gold standard, only silver coins were minted in the first 2 years: 5 forint coins made of good quality silver were put into circulation. However, the government fear of hoarding these coins convinced the national bank to lower the mass and quality of silver used for the 1947 strike. Finally, no silver 5 forint coins were minted for general circulation after 1947.

neg: Coinage Act of 1873 of silver for striking into coins after 1853, it purchased silver bullion using the new lightweight silver coins at above-market prices. This was illegal, as Congress had ordered that the new lightweight coins only be purchasable using gold, a provision intended to limit quantities sold to actual demand. As the silver pieces had a legal tender limit of $5, if excessive numbers were circulated, they might choke commerce. This in fact occurred, and merchants and bankers complained that the legal tender limit was causing them to have to sell accumulations at a discount to brokers. The glut was replaced with

neg: Dollar coin (United States) dollar are the Type III and started in 1856 until 1889. Production US $1 gold dollars was high until the Civil War and by 1863, only the larger value gold coins were produced in large quantities. Most gold coins produced from 1863 and onward were produced for imports to pay for enormous amounts of war material and interest on some U.S. Government bonds. Many of these coins from the Civil War and after (silver coins included) are in excellent condition since they saw very limited circulation with greenbacks and postage currency taking their place. Composed of 90% pure gold, it

neg: Bahadur Shah I buried on 15 May in the courtyard of the Moti Masjid (Pearl Mosque) in Mehrauli, which he built near the "dargah" of Qutbuddin Bakhtiar Kaki. He was succeeded by his son Jahandar Shah who ruled until 1713. He issued gold, silver and copper coins, although his predecessors' coins were also used to pay government officials and in commerce. Copper coins from Aurangzeb's reign were re-minted with his name. Unlike the other Mughal emperors, his coins did not use his name in a couplet; poet Danishmand Khan composed two lines for the coins, but they were not approved. His full name,

neg: Coinage Act of 1792 of death for debasing the gold or silver coins authorized by the Act, or embezzlement of the metals for those coins, by officers or employees of the mint; this section of the Act apparently remains in effect and would, in theory, continue to apply in the case of "any of the gold or silver coins which shall be struck or coined at the said mint." (At present the only gold or silver coins struck by the US mint are the American Silver Eagle and the American Gold Eagle coins, some Proof coinage at the San Francisco Mint, such as the

neg: Belize dollar the British West Indies. In 1885, 1 cent coins were issued, followed by higher denominations in 1894. This year also saw the first issue of banknotes by the government and a switch from the silver Guatemalan peso to the gold U.S. dollar as the base for the currency, with $4.866 = 1 pound. The rate of $4.866 as opposed to $4.80 is explained by the fact that when the US dollar was first created in 1792, it was based on the average weight of a selection of worn Spanish dollars. Hence, the US dollar was at a slight discount in

neg: Coinage Act of 1853 the rays complicated and slowed down die production to an unacceptable degree. The rays were removed from the quarter and half-dollar before the end of 1853, although the arrows were kept on new denominations for several more years. Controversy arose due to Mint officials' maladministration of the law. The Act only allowed the Mint to purchase silver bullion from the Mint's bullion fund to create the new coins. However, Mint Director James Ross Snowden purchased silver bullion from private owners using the new, under-weight silver coins. Even when the market price of silver bullion had fallen, Snowden continued this practice

neg: Euro gold and silver commemorative coins (Spain) series in 2005 with "Architecture and Monuments" being the theme. Although not yet approved by the corresponding ministerial orders, the 7th Iberoamerican series has been previewed by the Spanish Mint the theme is to be "Iberian-American countries and Olympic sports". Euro gold and silver commemorative coins (Spain) This article covers euro gold and silver coins issued by the Royal Spanish Mint. It also covers rare cases of collectors coins (coins not planned for normal circulation) minted using other precious metals. This article however, does not cover either the Spanish €2 commemorative coins or the Spanish peseta commemorative coins. Other countries'

neg: Stone Mountain Klan, was commissioned to do the carving. Borglum abandoned the project in 1925 (and later went on to begin Mount Rushmore). The US Mint issued a 1925 Commemorative silver US half dollar, bearing the words "Stone Mountain", as part of a fundraiser for the monument. This was the largest issue of commemorative coins by the U.S. government up to that time. American sculptor Augustus Lukeman continued until 1928, when further work stopped for thirty years. In 1941 segregationist Governor Eugene Talmadge formed the Stone Mountain Memorial Association (SMMA) to continue work on the memorial, but the project was delayed once

neg: Article One of the United States Constitution the federal government) from "making a tender" (i.e., authorizing something that may be offered in payment) of any type or form of money to meet any financial obligation, unless that form of money is coins made of gold or silver (or a medium of exchange backed by and redeemable in gold or silver coins, as noted in "Farmers & Merchants Bank v. Federal Reserve Bank"). Much of this clause is devoted to preventing the States from using or creating any currency other than that created by Congress. In "Federalist no. 44", Madison explains that "it may be observed that the

neg: Macau was decided to grant the Banco Nacional Ultramarino the exclusive rights to issue banknotes denominated in patacas, and in the year 1906, all foreign coins were outlawed. However, the Chinese were suspicious of these paper patacas, being so accustomed to using silver for barter, and as such, the paper patacas circulated at a discount in relation to the silver dollar coins. In 1935, when China and Hong Kong abandoned the silver standard, the Hong Kong dollar was pegged to sterling at the fixed rate of 1 shilling and 3 pence, whereas the pataca was pegged to the Portuguese escudo at

neg: Silver coin a specified weight, punched with several dies, each carrying a symbol. These very early coins were issued at a point in time when India was still separated from the Greek world by Persia (Persia proper did not use silver coins at the time). The Sanskrit word "rūpyakam" (रूप्यकम्) means "wrought silver" or a coin of silver. The term could also be related to "something provided with an image, a coin," from Sanskrit "rūpa" "shape, likeness, image." The word "Rupee" was adopted by Sher Shah Suri, a renagade governor who broke off from the Mughal Empire during his short rule of

neg: Euro coins been permitted to round cash transactions to the nearest five-cent since September 2004. Belgium passed a rounding law in February 2014, but it is generally ignored. Ireland did so in 2015 after trialling rounding in Wexford in 2013. In May 2017, the Italian parliament has passed a resolution to stop minting 1c and 2c coins starting 1 January 2018 as well as introducing Swedish rounding. This is in part due to factors such as rising metal prices: De Nederlandsche Bank calculated it would save $36 million a year by not using the smaller coins. Other countries such as Germany favoured

neg: Gold dollar for the most part, only gold and silver were acceptable currencies, and paper money traded at a discount. In the rest of the nation, gold and silver coins could be purchased from banks, exchange agents, and from the Treasury for a premium in the new greenbacks the government began to issue to fill the gap in commerce and finance the war. Since gold did not circulate in the United States (except on the West Coast) in the postwar period, much of the production of coins of that metal in the United States was double eagles for export. Accordingly, although 1,361,355

neg: Euro gold and silver commemorative coins (San Marino) it continues to issue a gold commemorative coin in its former currency the scudo released with a value of 2 scudo. Since there is a fixed exchange rate between the scudo and the euro and since the euro is San Marino's official currency the 2 scudo coins will be included in this article. Euro gold and silver commemorative coins (San Marino) This article covers euro gold and silver commemorative coins issued by Azienda Autonoma Di Stato Filatelica E Numismatica. It also covers rare cases of collectors coins (coins not planned for normal circulation) minted using other precious metals. It does

neg: Austro-Hungarian gulden 1 Conventionsthaler. All issues ceased in 1794 and did not resume until 1830, when silver coins of 20 krajczár and above were issued. Only in 1868, following the Austro-Hungarian Compromise of 1867, did a full issue of coins for Hungary begin. Denominations were fewer than in Austria, with copper , 1 and 4 krajczár, silver 10 and 20 krajczár and 1 forint and gold 4 and 8 forint. Between 1759 and 1811, the "Wiener Stadt Banco" issued paper money denominated in Gulden. However, the banknotes were not tied to the coinage and their values floated relative to one another. Although

neg: Numismatic history of the United States Dollar was minted from 1921 to 1935. After 1935, no more silver dollars would be minted for circulation by the US Mint. 90% silver dimes, quarters and half dollars were replaced with copper-nickel coins after 1964. From 1965 to 1976, 40% silver coins were issued in certain denominations. Of these, only the 1965 to 1969 dated Kennedy Half Dollars were minted for general circulation. No precious metals were present in any coins issued after 1977 by the US Mint until the bullion and commemorative series that began in the 1980s and continue to the present day. As there were no

neg: Two Sicilies ducat survived. The ducat proper was the name of the gold coins, and curiously it did not exist as a single unit; the grana (singular: "grano") was the name of the silver coins, itself also not existing as a single unit; the tornesel (Italian: "tornese") was the name of the copper coins, which were worth half a "grana". Accounts were kept in ducats, each of 100 grana or 200 tornesels. The piastra was the unofficial name of the biggest silver coin, which had a value of 120 grana. When the Italian lira replaced the coinage of the House of Bourbon in

neg: Liechtenstein franc currency reform, the new currency had 100 rappens to the franc. This currency is still the official currency of Liechtenstein today. Prince Johann II had silver coins minted with denominations of franc, 1 franc, 2 francs and 5 francs. When Franz I came to power, he did not have any more of these denominations minted, because there were enough of his predecessor's silver coins in circulation. During his rule, gold coins with denominations of 10 francs and 20 francs were minted in 1930. They depict on the obverse side the bust of the prince, now facing to the right again.

neg: Dollar coin (United States) the western powers and large silver coins from China, Korea, and Japan also bear these chopmarks. While most chopmarked coins are generally worth less than those without, some of the more fascinating chopmarks can actually give the coin a modest premium. Trade dollars did not circulate in the United States initially, but were legal tender for up to $5. Things changed, however, in 1876, when the price of silver spiraled downward as western producers dumped silver on the market, making the trade dollar worth more at face value than its silver content. That resulted in trade dollars pouring back into

neg: Silver certificate (United States) and government conspirators. In response, the Bland–Allison Act, as it came to be known, was passed by Congress (over a Presidential veto) on 28 February 1878. It did not provide for the "free and unlimited coinage of silver" demanded by Western miners, but it did require the United States Treasury to purchase between $2 million and $4 million of silver bullion per month from mining companies in the West, to be minted into coins. The first silver certificates (Series 1878) were issued in denominations of $10 through $1,000. Reception by financial institutions was cautious. While more convenient and less bulky

neg: Carson City Mint City. Built at the peak of the silver boom conveniently near a local silver mine, 50 issues of silver coins and 57 issues of gold coins minted here between 1870 and 1893 bore the "CC" mint mark. The mint was established in Carson City to facilitate minting of silver coins from silver in the Comstock Lode, much as the San Francisco Mint was established to facilitate minting gold coins from the gold of the California gold rush. From 1895 to 1933, the building served as the U.S. Assay Office for gold and silver. The federal government sold the building to

neg: Philippine peso the two-to-one peso to dollar parity. This decision, compounded with the deliberate overprinting of fiat banknotes, resulted in the peso dropping in value by almost 67% against the US dollar within the first three hours of opening day. The government effort to maintain the peg devastated the gold, silver and dollar reserves of the country. By 1964, the bullion value of the old silver pesos was worth almost twelve times their face value and were being hoarded by Filipinos rather than being surrendered to the government at face value. In desperation, then-President Diosdado Macapagal demonetized the old silver coins and

neg: Vietnamese cash under Emperor Tự Đức: In 1882 at the time when Toda's "Annam and its minor currency" was published only 2 government mints remained in operation, one in Hanoi, and one in Huế. Though private mints were allowed to cast cash coins with the permission of the government, and a large number of cash coins were also imported from abroad as at that time the Portuguese colony of Macau had 6 mints with 12 furnaces producing 600,000 cash coins for Vietnam on a daily basis. Cash coins circulated in the 19th century along with silver and gold bars, as well as

neg: Mint mark which it has contracts to strike coins, such as Fiji. In the 19th century, numismatists (coin collectors) did not generally collect coins according to mint mark; rather, they attempted to obtain date sets of coins. A turnaround began after 1893, when A. G. Heaton's "A Treatise on Coinage of the United States Branch Mints" was published. Heaton cited example after example of mint-marked coins that were much scarcer than Philadelphia products and that should bring high premiums. When the United States abandoned silver coinage in 1964, mint marks were removed from the new copper-nickel coins in the belief that it

neg: Coinage Act of 1965 opposed the bill, having prepared a chart showing the debasement of the Roman denarius between the years 1 and 300, though stating that he did not expect that coinage debasement would cause a government to fall. Nevada's Walter S. Baring noted that the Treasury was selling silver to the makers of cutlery and stated, "I would rather eat with chopsticks than take the silver out of our coinage". Massachusetts' Silvio Conte denigrated Sir Thomas Gresham for illicit profits when the Royal Exchange in London was established, but conceded that Gresham's Law would nevertheless cause base metal coins to drive the

neg: Silver as an investment in the United States at 15:1, which meant that one troy ounce of gold was worth 15 troy ounces of silver; a ratio of 15.5:1 was enacted in France in 1803. The average gold/silver price ratio during the 20th century, however, was 47:1. Physical bullion in coins or bars may have a premium of 20 percent or more when purchased from a dealer. Silver bullion bars have been available for purchase at a premium of less than 7% over the Comex spot price for much of 2015 and early 2016, while government-minted coins still command a much higher premium. Physical

neg: United States Bicentennial coinage coins went off sale. However, Marotta, writing in 2001, stated that when sales ceased, 400,000 proof sets and 200,000 uncirculated sets remained in inventory. Due to the large quantities struck, Bicentennial coins remain inexpensive. A set of three silver coins contains .5381 troy ounces of the precious metal. In a 1996 statistical study, T.V. Buttrey found that about 750,000,000 of the circulation quarters, more than a third, had been hoarded and did not circulate. Coin dealer Marcel Sassola suggested in 1977 of the silver sets, "There were just too many sold, and I think it will take a long time

neg: Euro gold and silver commemorative coins not that many coins being minted, only two issues per year. Since 2004, a gradual increase of their mints has been seen, with a record of six coins minted in 2006 and 2007 respectively. With the exception of the Belgian €2 commemorative coins and the normal Belgian euro coins, which are intended for circulation, only one coin has been minted by the Royal Belgian Mint using materials other than gold and silver. This coin, the 2006 "50th anniversary of the catastrophe "Bois du Cazier" at "Marcinelle"", is a silver coin with a portrait embossed in copper. It is also the

neg: Great Bullion Famine especially silver. The Venetians learned from the silver crisis of 1465, and they used copper coins instead of silver as currency in 1473. The well-organized precious metal trade in Venice led the Venetians to open new copper mines in the Alps and Carpathians. The idea of using copper as a currency took a long time to get used to for the Venetians and those who traded with them; even after copper-based currency started flowing into the market, the desire for silver did not end. That continued demand led to the opening of a silver mine at Joachimsthal in Bohemia in

neg: Sources of ancient Tamil history On the obverse of these coins are a variety symbols such as the sun, the sadarachakra, the trishul, a dog, stupa etc. The first group of silver coins was found at Bodinayakanur, in a hoard containing 1124 coins all belonging to the same type. The remaining coins in the five silver group and the copper group were all found in the Vaigai river bed near Madurai. Four of the six silver groups have been assigned a date close to the end of the Mauryan rule, c. 187 BCE. Since Tamilakam was deficient in metallic silver and since Roman silver did

neg: Free silver of gold bullion could deposit it at a mint where it would be processed into gold coins. Less a nominal seigniorage to cover processing costs, the coins would then be paid to the depositor; this was free coinage of gold by definition. The objective of the free silver movement was that the mints should accept and process silver bullion according to the same principle, notwithstanding the fact that the market value of the silver in circulating coins of the United States was substantially less than face value. As a result, the monetary value of silver coins was based on government

neg: Platinum coin in the 19th century. Currently, the platinum coins of the Russian Empire are rare, especially for the period from 1839–1840 when only a few coins were minted. All platinum coins minted in 1840 were bought by the famous numismatist Earl Ivan Ivanovich Tolstoy directly from the Saint Petersburg Mint; on the numismatic auction of the United Bank of Switzerland (UBS Gold and Silver Auction 50) held in autumn 2001 in Basel, one of the two 12-ruble coins minted in 1839 was sold for US$60,500 (with a starting price of $22,000). Eleven commemorative platinum coins with a 150-ruble face value were

neg: Winter Olympic coins the Royal Bank of Canada. Unlike the Montreal coins, mintage was limited to 5,000,000 coins and this would mark the first time that any silver coin had edge lettering on it. Said lettering was 'XV OLYMPIC WINTER GAMES – JEUX D'OLYMPIQUES D'HIVER.' The Albertville Olympics were the third Olympic Winter games held in France. To commemorate the event, the Government of France authorized the striking of ten gold and nine silver coins. Due to the abject failure of the 1996 program, this year's coins were limited to one silver and one gold piece each. A total of 11 coins were