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Will We Ever Know How Many Silver Coins Were Melted Down

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M0nks's Avatar
United States
1770 Posts
 Posted 06/25/2012  4:20 pm  Show Profile   Bookmark this reply Add M0nks to your friends list Get a Link to this Reply
i recall reading somewhere there used to be about 12 billion tons of silver and now theres only 200 million tons left - wish I had a few tons haha
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fistfulladirt's Avatar
United States
4333 Posts
 Posted 06/25/2012  7:28 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
No sir, I don't buy it. Why on earth would a dealer or even a pawn shop sell to a refiner, when they stand to make more $ selling to investors? Even my local dealer can't keep inventory as it goes out as fast as it comes in. Maybe in the past, but not within the last few years.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Bedrock of the Community
United States
20753 Posts
 Posted 06/26/2012  10:18 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
My smelter claims that he never melts coins, and that he saves them up and sell's them to a coin dealer. I think that somebody who owns a refinery would have good knowledge on coins, enough to know not to scrap them.

Naturally they would say that. To many do not know the laws and just say anything to play it safe.
At a flea market by me a jewler has a note on his counter saying I buy Gold and Silver Coins for making jewlery. He well knows there are no coin police, at least at flea markets.

Quote:
No sir, I don't buy it. Why on earth would a dealer or even a pawn shop sell to a refiner, when they stand to make more $ selling to investors?

Because many pawn shops take in rather not so legal stuff. To take the chance of getting caught trying to sell that, they just dump for the metal value. Easier and safer.
Edited by just carl
06/26/2012 10:20 am
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M0nks's Avatar
United States
1770 Posts
 Posted 06/27/2012  7:44 pm  Show Profile   Bookmark this reply Add M0nks to your friends list Get a Link to this Reply
these dealers wouldnt make any money if they just bought everyones collection and just put all the coins in the back - its not like everyones rushing in to pay way over melt for the prices they put on these coins for sale
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