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 Replies: 13 / Views: 1,270 |
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Pillar of the Community
Canada
1018 Posts |
I'm sure we have all been watching and or cashing in on the current run of gold and silver. What have you sent to MELT and what do you think this means for numismatics. Your thoughts!
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Bedrock of the Community
 United States
24858 Posts |
I haven't sent anything to melt - yet. I'm looking into finding a nearby precious metals refiner that can take my sterling and scrap gold and turn it into bars for me.
Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
United States
613 Posts |
Sadly, we may never know how many numismatic coins have and will be melted down.
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Pillar of the Community
Canada
1984 Posts |
Well with silver at over C$75 an ounce, a run of the mill silver dollar is worth $45. Good luck selling to collectors at that price! I suspect that a huge amount of silver will go to the melting pot.
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Valued Member
Canada
128 Posts |
Not just gold and silver try buying any physical palladium. Also most shops are showing no platinum either . Watched enough you tubes on this to know the average person is not involved ,will they be at these prices ?
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Bedrock of the Community
United States
36415 Posts |
These coin melts have been going on since the late 60's. My local coin dealer back in 1979 let pick through his bucket going to the refiner. Pulled out many nice coins and semi-keys because melt value was higher than collector value at that time. BU Morgans, Walkers, late date silver. What was once common will most likely be the future key date coins. We will never know exactly what has been melted.
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Pillar of the Community
Canada
5238 Posts |
I think that the common stuff will remain common. The rare stuff will not be melted. It is the stuff that is in-between that may become more scarce. I'm in Canada, and I was just talking to a dealer who mentioned that the scarcer (but not rare) silver dollars like 1935, 36, and 37 are now just worth melt and may well become much scarcer down the road.
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Moderator
United States
187446 Posts |
I do not send to melt, I save from melt. That is, when I can. At these prices, I cannot.  |
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Pillar of the Community
United States
3342 Posts |
I decided it was a good time to sell common gold coins. I've sold 3 piles in the last two weeks, for a total of about $43,000. Some of it was up 200%, but on average probably 100% over 12 years of accumulating. All US pre 1933. They were slightly less common dates, but that made no difference. Anything that's not rare or below MS65 is going in the pot. $10 Eagles sold for $1910. The shop was crowded with sellers. While collecting a check, I asked the owner if he'd gotten anything interesting in this sales spree. I was offered a raw VG-F 1880-CC half eagle for $1800. It seemed like too much, but that's what they sell for on ebay these days too. At least CC's are staying ahead of melt. Part of my incentive for doing this is coin collecting. The common dates I had stacked weren't interesting. Part of the proceeds have already been spent on a couple of Oregon Trail halves, a Carthage electrum stater and a Charles I Unite. The gold sale generated money to buy coins I couldn't afford before. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/19/2025 7:52 pm
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Moderator
United States
187446 Posts |
Quote:
Part of my incentive for doing this is coin collecting. The common dates I had stacked weren't interesting. Part of the proceeds have already been spent on a couple of Oregon Trail halves, a Carthage electrum stater and a Charles I Unite. The gold sale generated money to buy coins I couldn't afford before. Well done.  |
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Bedrock of the Community
United States
36415 Posts |
When melt price passes the numismatic price, they'll all go in the melting pot. I saw BU Morgans go to the refiner in 1979. My local dealer at the time let me pick through what he was sending out. Semi key silver coins were just bullion at that point.
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Pillar of the Community
United States
3342 Posts |
I won't make any money on what I bought jbuck. But that isn't why I wanted them. The gold coins I sold were an unexpected opportunity. I'm not a survivalist, just a coin collector. IndianGoldEagle during that period I picked up some nice semi key Walkers and Peace dollars. I remember pulling 1917D obverse and 1919D Walkers and 1934S Peace out of scrap. The shop had too much to bother putting it in flips. The gold was the same on Saturday. None of what I sold them was going in the display case. It was all headed for Gold River. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/20/2025 10:03 am
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Moderator
United States
187446 Posts |
Quote:
I saw BU Morgans go to the refiner in 1979.  Quote:
My local dealer at the time let me pick through what he was sending out. Right place, right time.  Quote:
Semi key silver coins were just bullion at that point. Sad to see, but inevitable I suppose. |
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Moderator
United States
187446 Posts |
Quote:
I won't make any money on what I bought jbuck. But that isn't why I wanted them. The gold coins I sold were an unexpected opportunity. I'm not a survivalist, just a coin collector. It is as I hoped. I expect zero return on anything I ever bought, especially since I plan to never sell anything I have bought. I have said many times before, coins are logged as a consumable on my balance sheet, like food, clothing, or vacations. Only my heirs will benefit from their sale—and from their point-of-view, it is a 100% return.  I had a nice stack of silver built from my CRH days in the '90s. Just before the turn of the century I traded the bulk for store credit and immediately used that to finish my Franklin half dollar set. The few that remain in that stack are sentimental at this point, but who knows, maybe I will trade those in when silver hits $100.  |
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Replies: 13 / Views: 1,270 |
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Posted 10/16/2025 11:50 pm
