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 Replies: 25 / Views: 3,023 |
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New Member
United States
46 Posts |
we must save the coins from the melt! search the rolls people!  |
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Pillar of the Community
United States
593 Posts |
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. Edited by larsdog
09/17/2012 5:23 pm
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Pillar of the Community
United States
1704 Posts |
40% and 90% silver coins are NOT melted when they are sent to any refinery. There is too much of a demand for the 40% and 90% silver coins it is not practicable for them to be melted. The exceptions are those coins which are worn slick or so severely damaged (holed, bent, et cetera, cleaned coins are not melted no matter how harshly they have been scrubbed) and have no market value. All of the coins sent to the refineries are put into bags of $1,000.00 face value. These bags are then sold to dealers, investors, and speculators. Bags of 90% silver are bought and sold using .715 actual silver content of the coins instead of .72 to allow for circulation wear. Ed ANA LM-3175 |
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Valued Member
United States
339 Posts |
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
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Valued Member
United States
240 Posts |
I try to save distressed coins. I guess I assign a persona to them. They have been through too much to go get melted.
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Valued Member
United States
339 Posts |
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
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Pillar of the Community
United States
4333 Posts |
Quote:
40% and 90% silver coins are NOT melted when they are sent to any refinery. There is too much of a demand for the 40% and 90% silver coins it is not practicable for them to be melted I agree Gyrene. Much more $ to be made from investors than to melt. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Bedrock of the Community
United States
20753 Posts |
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.
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Pillar of the Community
Canada
1411 Posts |
And some just prefer worn coins such as myself... I really like worn O mint coins.
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Valued Member
United States
300 Posts |
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...
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Replies: 25 / Views: 3,023 |
First Page
Posted 09/17/2012 5:22 pm
