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 Replies: 8 / Views: 1,304 |
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Valued Member
United States
392 Posts |
I was just wondering how previous silver melts, coin recalls like Canada nickels or major finds that increase the quantity of coins affect the hobby? Does this make people want to collect coins because of the publicity, make it more expensive and harder to find or something else? I included major finds because I heard silver dollars from bank vaults were found and released. Is that true?
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Moderator
 United States
56855 Posts |
Well,major finds will decrease values and melts will increase values.It is a mater of supply and demand. John1  |
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Pillar of the Community
Canada
5238 Posts |
Canadian nickels have been melted for years but they are still available in bulk for 10 cents or less each-not the high grade ones of course. In other words, there is still a glut, so that part of the hobby has not been affected I think.
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Valued Member
 United States
392 Posts |
Thanks Oriole. I was curious about how the price and availability of Canadian nickels changed since the government is reclaiming them. I'm just getting started collecting Canadian nickels and cents along with my US coins. |
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Valued Member
United States
93 Posts |
It really depends on who you are. If bags and bags of BU 1886-O Morgans were to be discovered in a bank tomorrow, it would be good for people who collect Morgans, as they can now get an MS example for much cheaper then before. However, if you were a dealer that spent thousands and thousands of dollars on an MS64 example, you'd be a bit bummed out because of the increase in population. Just depends on what side of the coin you are on.
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Bedrock of the Community
13014 Posts |
Quote:
It really depends on who you are. If bags and bags of BU 1886-O Morgans were to be discovered in a bank tomorrow, it would be good for people who collect Morgans, as they can now get an MS example for much cheaper then before. I'd honestly disagree with that. The last thing Morgans need is for a key/semi key date to become another common widget. Edited by basebal21
02/15/2019 7:04 pm
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Valued Member
United States
93 Posts |
Again it really just depends who you are. An MS Date/MM Morgan Collection will almost forever be out of my realistic price range, not much could really change that. But for some people, prices coming down a bit might be helpful. BU 1886-O's were just an example to prove a point. There's lots of coins or coin series that could work just the same as this. I'm not here to say if it would be good or bad for the hobby overall, just attempting to show the positive and negative of this.
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Bedrock of the Community
13014 Posts |
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But for some people, prices coming down a bit might be helpful. Falling prices on the kings of a series is never a good thing. The point was that Morgans already are essentially the ASEs of the 1800s and many are super common already. Killing off one of the better ones making it another common silver piece would be bad for the series just like you can see on multiple unpopular series |
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Bedrock of the Community
United States
20753 Posts |
This is a weird hobby. As an example Canada stopped making the Cent and I've seen no big interest in them gaining popularity. However, if someone found a pile of Morgan dollars, the prices wouldn't change much since so many collect them. |
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Replies: 8 / Views: 1,304 |
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Posted 02/14/2019 04:54 am
