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When did Canadian silver coins revert to 92 percent silver?
When did Canadian silver coins revert to 92 percent silver?
DondaejiDelightfulCharm
Mon Sep 09 2024
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6 answers
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Could you please clarify when exactly did the Canadian silver coins revert back to 92 percent silver? I'm curious to know the historical context behind this change and how it impacted the value and circulation of these coins. Did this occur during a specific economic period or was it a gradual shift over time? I'd appreciate any insight you could provide on this topic.
6 answers
SeoulSoul
Wed Sep 11 2024
Despite the significant decline in silver prices during the 1930s, with a low of $0.25 per ounce in 1932, this event did not trigger a reversal in the silver content of Canadian coins.
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Silvia
Wed Sep 11 2024
Specifically, the decision to abandon the 92.5% silver composition in Canadian coins was not contingent upon fluctuations in silver's market value.
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Tommaso
Wed Sep 11 2024
Furthermore, the discontinuation of silver in the production of the five-cent coin was not solely tied to the economic downturn but rather a strategic shift in currency policy.
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KimonoElegance
Wed Sep 11 2024
The aftermath of the Great Depression and World War II witnessed a resurgence in silver prices, marking a pivotal moment in the history of Canadian silver coins.
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GangnamGlamour
Tue Sep 10 2024
This period marked the beginning of the gradual phase-out of silver from circulating Canadian coinage, as the rising cost of silver made it economically unfeasible to maintain its use.
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