Coin Melts

What about chocolate ones?

Today at a flea market I heard someone bragging about buying Morgan silver dollars for $10 each and selling to a jewler for $20. Dates were not important, only something to melt. Happens so often, not possible to ever find out the amount. By me electricians melt piles of reclaimed cable and wire and thrown in piles of Pennies, then add it to metals for a local smelter. Even Nickels are being dumped into the smelter piles.

I also save every silver coin I get, even duplicates...

I have never understood the sentiment that coins should NEVER be melted. I heard the same argument regarding stamps several years ago. Someone would buy an imperf block of 9, cut the center stamp out with such huge margins as to destroy the other 8 stamps just to get a top grade jumbo single and some collectors thought that was somehow unethical. Same with coins that are so common that their value is near melt. That's just the free market at work. Nothing to fear. There aren't a lot of 20c pieces or Seated Liberty dollars going to melt! Having said that, I'm surprised that melting them is a better option than selling them at junk silver prices. There is a fairly well defined ratio for junk silver prices to face value, no melting necessary.

thats sad, I talked to the jewelry shop and asked how much they buy silver coins for and the conversation somehow turned and they told me how they sound out silver by the pound when they buy so much.

they send it off to get melted down and refined, I cant imagine how many people sell some coins worth more than melt and more to a collector and just be melted

sort of like each coin has its own story, where its been kind of thing? although id like to know that kind of thing as well but unfortunately they cant tell us. although I do fear the day that I become desperate enough that I have no choice but to sell me silver coins.

id rather take the time to sell them for what they are because I think most of my coins are worth more as a collectors coin than melted for less than melt price

One of the worst parts of people melting coins that they consider just melt due to wear, is for some kid, it could be a coin they need for their collection. Many little kids can not afford perfect or high grade coins are perfectly happy with worn coins. AND there are millions and millions of kids out there.

Many years ago when I was in high school it was common to melt down coins in our art class to turn into rings, the teacher used to buy halves and sell them to the kids who didn't have a source of coins of there own. Even then as a kid I worried about someone bringing in some rare coin they took from their parents collection to turn into an art project.

I've often wondered how many millions of coins have been lost over the years this way...