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 Replies: 22 / Views: 4,471 |
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Pillar of the Community
United States
3592 Posts |
Yass, to keep it simple...would you spend a quarter worth $5 just on principle ? The silver coins will eventually end up in the hands of somebody that recognizes the value anyway.I don't search for silver but see nothing detrimental in it at all.
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Pillar of the Community
 Australia
652 Posts |
Quote:
Yass, to keep it simple...would you spend a quarter worth $5 just on principle ? The silver coins will eventually end up in the hands of somebody that recognizes the value anyway.
No I wouldn't. But one of the points I was trying to make is that if you melt all your silver coins, where are tomorrow's collectors going to get theirs? And at what price? As carmykle stated: Quote:
Someone will get stuck holding a lot of expensive silver Like the stock market, you don't loose until you actually sell the stock. The cost of silver coins may be artificially high for years. |
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Pillar of the Community
United States
3592 Posts |
Yass, I don't believe as much silver is being melted as it looks....most people are hanging on to the silver coins.
And your point about not losing until you sell is something most don't learn to grasp...it seems like a lot of people panic when the price drops, not realizing that eventually it will probably recover.I played the stock market for the last 20 years and just rolled with it until I was on a hill and within 5 years of needing it...then stepped off the train without falling on my face.
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Pillar of the Community
United States
958 Posts |
Silver gets sold all the time for less then what people payed for it.
Grandpa or dad dies, kids take the coins to the closest dealer and take what cash they can.
Lil kids ( elementry school age )find dads coins and swipe um and spend um on candy or take them to school and loose um or spend um.
Some one inherets coins , they often dont relieze the washingtons and roosies are silver becuase they look the same as the ones they see everday in pocket change often they just get spent
I dont see why taking them from roll seraching is any different then taking them out of pocket change.
Ask any one age 8-18 right now if they had $5000 given to them what would they spend it on ..
Coins prob wont be a anwser from 99% of the kids ,
As far as it goes coins collecting is prob on the diminish as we speak. Over they next 20 years as the baby boomers die off and their coins hitthe market I think we might even see prices level off or go down in some cases.
I'm 35 still young enough to know whats hips and mature enough to cross over to the older crowds
and I can def say coin collecting in the younger generations if dying
Edited by coppertop5150
01/10/2011 10:05 am
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Pillar of the Community
United States
2130 Posts |
Coppertop...I agree with everything you are saying. I will be thirty later this year and I know if you asked all of my friends half of them wouldn't even know coins were made out of silver. I collect coins for the hobby and history behind each coin. If silver decreased by $10 or increased by $10 I would not sell anything. It's not about that to me. What does bother me is the fact that the younger generations for the most part are not showing any interest. Once the baby boomers are gone and alot of their collections is melted who is going to care about a Morgan silver dollar or a Mercury dime? I will and I am sure others on this forum will but will there be enough to keep the hobby going? Interesting... |
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Pillar of the Community
United States
3592 Posts |
One thing that has happened from my roll searching all the time is that my daughter and her boyfriend are getting interested...I keep getting questions about value/rarity and my daughter even called from her job one day because she thought she had a Wide AM...it was, but the date was 1992.It's up to everyone to pass the knowledge and intereset down to the next generation. |
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Valued Member
United States
272 Posts |
All three of my childern (6, 11,14) are into collecting because of roll hunting. While we mostly fill books and folders, I have seen them reading my Red Book for fun. I'm not sure they would be as into coins if their only interaction with collecting was the rare stop at the 1 coin shop within an 8 hour drive. |
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Bedrock of the Community
United States
19945 Posts |
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I don't believe as much silver is being melted as it looks....most people are hanging on to the silver coins.
Yes it is. I spend a good bit of time at my local shop and I've seen a lot of silver bought and resold directly to the melters by the shop. One day I walked in and they had at least $10,000 in face laying around in bags they had just bought. It was a sight to behold! He said they were going to melt all of it. Silver comes into this shop daily. Almost all if it get melted as junk, even though I've picked through some it and found some keepers. They simply do not have the time to cherry pick it all so they just melt it. This is but ONE shop. If think about the thousands more out there, there's a LOT of silver coins being melted.....especially at today's prices. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Moderator
 United States
188213 Posts |
Remember, dealers are (usually) going to maximize their profit.
Some dealers will have a steady stream of well paying buyers that like bags of junk silver. Other dealers will have a relationship with a melter/refiner.
Whichever "customer" pays the best with the least effort will get the coins. In this case, a melter buying in bulk has an edge in the game.
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Pillar of the Community
United States
757 Posts |
doesn't it seem a little hard for the melters to turn a good profit though? the dealer has to upcharge them, and I mean why even melt it? they might make a dollar per ounce they put together.
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Pillar of the Community
United States
3592 Posts |
BadThad...I have to say reread my post..."not as much as it looks"...I do understand there are melters out there but there are also millionss of buyers that are keeping the coins (myself included)...so it's really hard for anyone to know exactly what is happening. Remember that silver was way up in the 80's and we all thought the same thing, but we're still finding it in circulation and it's sure popping up for sale.
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Valued Member
Canada
276 Posts |
Melters turn profit based on volume, same with dealers. They expend very little effort to "get" the silver, and they don't get much per ounce in profit. They've got to deal in HUGE volumes in order to be profitable, or supplement it with another business (like gold, NCLT, etc..)
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Rest in Peace
United States
9104 Posts |
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No I wouldn't. But one of the points I was trying to make is that if you melt all your silver coins, where are tomorrow's collectors going to get theirs? And at what price? I started collecting coins in 1956. I have never found any of the following in circulation, and it had nothing to do with melting: half, large, FE or IHC2, 20 or 3¢ Half Dimes, shield or V nickelsbust or Seated dimes, quarters, halves or dollars Barber coinstrade $ gold |
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Pillar of the Community
United States
4008 Posts |
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I'm 35 still young enough to know whats hips and mature enough to cross over to the older crowds - CopperTop I've heard that age referred to as being "Old enough to know the rules but still young enough to play the game".  |
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Pillar of the Community
United States
4008 Posts |
Quote:While it has had some effect on value, you can still purchase beautiful MS Morgan silver dollars all day long for less than $50. - BioChemist That's a fact. I've bought a couple of dozen Morgans in the $26-35 range in the past 3 months or so. Most looked to me like "fine" grade or perhaps a bit better. I also got a couple of uncirculated Morgans for $45 each. That was more than I wanted to pay but... they are SO beautiful!  |
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Posted 01/09/2011 7:23 pm
