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Value Of Old Coins

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Valued Member

Canada
82 Posts
 Posted 02/25/2008  03:09 am Show Profile   Bookmark this topic Add grmike to your friends list Get a Link to this Message Number of Subscribers
if silver hit 30 dollars an ounce by the end of this year then ended up going down to 5 dollars an ounce by the end of 2010 how would that affect the value of US silver coins ? If pcgs listed a 1921 ms 63 Morgan dollar at 50 dollars when silver was worth 30 dollars an ounce how would that price be affected by the price of silver going down to 5 dollars an ounce ?
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Kabiye_Lady's Avatar
United States
581 Posts
 Posted 02/25/2008  03:38 am  Show Profile   Bookmark this reply Add Kabiye_Lady to your friends list Get a Link to this Reply
Well - At $30/ounce, a Morgan is worth about $23 for its silver and at $5/ounce, the Morgan is worth a little under $4.

Since a '21 Morgan in AG/G condition sells for melt, we can assume the premium above melt is its "numismatic" value. So if it goes for $50, that would mean it's "numismatic" value is $50 - $23 (melt value at $30/ounce) = $27.

So the Morgan should be worth $27 + whatever melt value is.

Of course, this is over simplified - especially for MS grade coins. But it certainly works for lower grade coins and common coins.

If silver drops to $5/ounce, the price of a lot of common Roosy's, Washingtons, Kennedy's, Franklins will also go through the floor since they have very little numismatic value - only silver melt value. For example, at $5/ounce, a common roosevelt would go for about 35 cents.
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jbuck's Avatar
United States
187582 Posts
 Posted 02/25/2008  11:29 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
This was being discussed in another thread, speculating the change in value of key dates with regard to the melt value of silver or gold. I don't think we ever came up with a solid answer, that is to say, there are many factors to know for sure! There is demand for a coin as a key date versus demand for the coin as bullion. Prices are always going to be whatever someone wants to pay; whether their motive is as a numismatist or as a scrap metal dealer is a huge factor.
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gbchaosmaster's Avatar
United States
328 Posts
 Posted 02/25/2008  5:58 pm  Show Profile   Bookmark this reply Add gbchaosmaster to your friends list Get a Link to this Reply
If silver were at $5, I'd be buying a lot of silver. Key date coins wouldn't be effected, others may go down a bit. Coins worth melt would obviously go way down. No way that it will ever be that low, though.
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United States
20753 Posts
 Posted 02/25/2008  6:14 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Horible thought but as Silver prices continue to rise you must remember that the vast, vast majority of people in the USA and even in other countries are NOT coin collectors. Even now many are having valuable coins melted down for the Silver content with absolutely no concerns of dates. However, this is also true of many other coins. Copper for instance, is being melted down by people that melt Copper Wires and cables. All together so why should they care and they don't care. They usually don't know or care about coin values.
I asked a person that does that why. Answer, I can take all this to that place on xxxx ave and get so much cash/pound now. What the #)%)#(%#)(% would I do with a valuable coin?
Now if silver continues to climb in value, home invasions will increase, coin stores will be robbed, banks will get depleted of coins due to idiots thinking you can melt anything and get Silver.
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