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 Replies: 28 / Views: 5,543 |
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Valued Member
Canada
67 Posts |
I think a metal recovery program would kill our hobby to all those young kids just starting out putting a date set together. What it would do is make a bit more money for the dealers who would be selling more of the coins in their nickle box or 5 for a $ box. I have been searching rolls of coins for years, it has become harder to find any early coins. I know many of you have had some good finds over the years, but if the mint start culling for the metal, things will get a lot harder to find. Maybe the mint should instigate a coin collector recovery program, that way there would be more for us that evade the melting pot.
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Moderator
 United States
187446 Posts |
I disagree. The kids can start with dimes. A dime buys less than what a cent bought when I started filling holes in the Whitman folders. What cost me a dime now cost a dollar, so a dollar coin would be nice to have circulating for the kids. Get rid of the one dollar note and that problem is solved.  |
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Valued Member
Canada
109 Posts |
Personally, I enjoy coming to America and finding 50-year-old coins in my change! Canadian circulation coins may be new thanks to the ARP, but they are kind of boring.
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Moderator
United States
187446 Posts |
Our clad coinage is 52 years old now. Just saying.  |
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Valued Member
Canada
109 Posts |
Lots of those 1965 quarters still look really good!  |
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Bedrock of the Community
United States
17884 Posts |
I believe the Mint actually shows them on their books as an asset at face value BEFORE the Fed buys them. As soon as they are coined and delivered to the mint treasurer they are entered at their face value and the seigniorage profit is accounted for.
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Bedrock of the Community
United States
17884 Posts |
Quote:
I think a metal recovery program would kill our hobby to all those young kids just starting out putting a date set together. Did it kill the hobby in Canada? Their alloy recovery program has been going on for years. And it mainly just scooped up the 1968 to 1981 coinage. In the US, if the metal prices got high enough to make it worth while, it would be scooping up the pre-1982 cents and the nickels from the recent years. This assumes that they would continue making zincolns and nickels from a new alloy. But most of the older cents are already gone from circulation so that isn't a concern. The nickels might be a bit of a problem though. If they just stopped making the one and five cents pieces they would rapidly disappear from circulation anyway. |
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Moderator
United States
187446 Posts |
Quote:
I believe the Mint actually shows them on their books as an asset at face value BEFORE the Fed buys them. As soon as they are coined and delivered to the mint treasurer they are entered at their face value and the seigniorage profit is accounted for. Good to know. Either way, melting them would not be a good idea. |
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Pillar of the Community
 United States
4867 Posts |
It is remarkable that I still see tons of coinage from the 60's and 70's in pocket change and many of them are quite nice looking...mainly the cent and nickel. Nice bright and bold strikes.
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Pillar of the Community
Russian Federation
5172 Posts |
Quote:
I think a metal recovery program would kill our hobby to all those young kids just starting out putting a date set together. What it would do is make a bit more money for the dealers who would be selling more of the coins in their nickle box or 5 for a $ box.  It does sound like there's just about no useful alloy to recover from US coins, however (pre-1982 cents aren't that common, and the costs of melting might well be higher than any value gains; and if the nickels end up worthy of recovery, as almost happened briefly a few years ago, it would equally affect every single nickel from 1866 to 2017 - except for the silver War Nickels, anyway, but they would also be affected - and effectively remove the denomination from circulation unless a cheaper 5 cent coin is introduced a few years earlier). |
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Pillar of the Community
United States
996 Posts |
Quote:
It is remarkable that I still see tons of coinage from the 60's and 70's in pocket change and many of them are quite nice looking...mainly the cent and nickel. Nice bright and bold strikes. Was it much different before the silver was removed in the 60's? I am too young to know for sure, but was it unusual to see coins from the 1910's and 1920's during the 1950's? Here in the USA we are used to not seeing coinage from before the silver removal but since things really haven't changed that much since then older coins are easy to find. They have no real value though. I wouldn't think twice at spending a nickel, dime or quarter. I usually keep 60's and 70's pennies due to the copper content but if it were in my pocket and I needed it I would spend it. In 1955, would our parents have spent an IHC? A buffalo or Shield nickel? Barber dime? SL Quarter or even a half dollar from way back? |
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Bedrock of the Community
Australia
21786 Posts |
Only a small percentage of all U.S. residents are coin collectors.
The majority of them would not mind in the least if the U.S. Government started an alloy recovery program.
Having stated that, almost all silver has been removed from the U.S. circulating coinage anyway. The CRH'ers will attest to this fact. It might not even pay to have an alloy recovery program.
The withdrawal of precious metals from the circulating coinage system has had almost zero effect on the prices of of coins in the numismatic market place, and completely zero price effect on bullion coins.
I still like to find what I can in World silver coinage from dealers' junk boxes, if the price is right.
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New Member
United States
48 Posts |
Quote: In 1955, would our parents have spent an IHC? A buffalo or Shield nickel? Barber dime? SL Quarter or even a half dollar from way back? I was stuffing the pinball machines with Buffalo nickels and SL Quarters. Edited by shooligan
06/25/2017 4:01 pm
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Replies: 28 / Views: 5,543 |
First Page
Posted 06/21/2017 5:04 pm
