Bullion & Numismatic Ethics

Ethically? Were are not talking about murder or stealing. Ethically as long as your are paying fair prices and not cheating any one I would say you are fine.

The coin collectors side is just an other aspect of a market.

Now I am sure that I am not the only one who would appreciate the opportunity to purchase some nicer silver coins. But you certainly aren't going to heck for sending them to melt.

Edit: Apparently we can't use the 'h' word even in context. Oh well.

I got into coins for the metal aspect , stayed for the numismatic value.

I'm not into collecting sets like many here are , however I realized it would be stupid to send off a $500 coin to a smelter.

My aunt gave me a gold coin to look at, a MS63+ 1851-c gold dollar. The scrapper offered her $30, it was worth around $8,000. Now you tell me , what's a smarter move, $30 or $8,000?

Hire a cherrypicker to go through all your goodies. Assess what you have and split the profit. Make sure that whoever you hire has sold coins before so that your turnover is fast.

Heck if you lived by me, I would help you out. No reason for both you and a collector to miss out on some mutual benefit.

I don't see any ethical problems vis-a-vis, your business. I do deal with a Bullion dealer and search for through his bags. Right now he buys at 25 times face and sells to me at 28 times face. These prices of course change, but that is the gist. He, unlike you has a Coin Shop, and our arrangement is anything really nice I report to him. As an example of what you can be missing. I found, and turned into him, a 1916 D Mercury dime; as well as a 1941/42 Mercury dime. The first in Very Good Condition and the second in Very Fine Condition. His profit on those two dimes was well over $2000. Now that is an extreme example, but it goes to show that it happens. I have found lots of 21,21d,38d Walking Liberty halves. His average profit on those is around $70 each.

Perhaps if you teamed with a Numismatic who had his/her own ebay account, you could find a profit splitting arrangement.

Just my Two Cents.

Yep, a split-profit arrangement with someone you can trust will yield more profit, which is your motive.

I thought coin melting was illegal?

Ahh good to know!