RE: 1987 Canada Silver Dollar Proof: 400th Anniversary of Davis Exploration
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The stories, the designs, the history behind commemorative coins, makes them very collectible @silversaver888 !đđ¤
.500 percent SilverâŚ.. thatâs very interesting, I wonder why they dropped the silver content on this commemorative?
Is that percentage silver common for Canadian commemoratives?
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Why .500 Silver? The shift to 50% silver in some Canadian coins traces back to 1968, when rising silver prices made it economically unsustainable to continue minting coins with higher silver content. Prior to that, Canadian coins had been minted with 92.5% silver (up to 1919), then 80% silver (from 1920 to 1967). But by the late '60s, the cost of silver outpaced the face value of the coins, prompting the Royal Canadian Mint to reduce the silver content to .500 for a brief period before switching entirely to nickel or copper-nickel for circulation (Accdg to Apmex and SeatleGold)
Is .500 Silver Common for Commemoratives? Not typically. Most modern commemorative Canadian coinsâespecially those minted for collectorsâare made with .9999 fine silver. The .500 silver content is more of a transitional relic from the late 1960s, when Canada was phasing out silver in circulating coins. So if youâve got a commemorative with .500 silver, itâs likely from that unique window in history, making it a bit of a numismatic time capsule. And I've got one, yay!
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All the more reason to put this one in the âKeepâ stack @silversaver888 !đđ