Lots Of Type Gold & Silver Being Sent To Refiners To Be Melted These Days?

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Author	Replies: 5 / Views: 1,234
Joe2007 Pillar of the Community United States 3843 Posts	Posted 09/02/2019 4:55 pm Recent topic on a coin dealer's YouTube channel I follow. I've too seen this at may local coin shops where most of their pre-33 gold goes to the refinery in recent years due to the depressed market for gold type coins. Apparently this is increasingly happening with junk silver too. It is a shame that so many beautiful historic coins are being destroyed for a bit of short term profit. Has anyone else seen this? Your thoughts? Edited by Joe2007 09/02/2019 5:12 pm Report this Post to the Staff

GrapeCollects Pillar of the Community United States 8938 Posts	Posted 09/02/2019 5:18 pm I work at an LCS, anything with a premium is kept. The only things that get sent to the refinery is junk jewlery or low purity forigen gold with 0 numismatic premium. Report this Post to the Staff
moxking Rest in Peace United States 17900 Posts	Posted 09/02/2019 6:18 pm US coins have been melted since they began being minted. Report this Post to the Staff
CoinCollector2012 Pillar of the Community United States 8137 Posts	Posted 09/02/2019 7:05 pm Pre 33 gold has been soft for a while now, so many smaller dealers are probably melting their gold to quickly turn it around. The LCS that I work at is big enough that we can afford to hold on to pre 33, and we only send scrap jewelry to the refiner. Report this Post to the Staff
yellow88 Pillar of the Community United States 581 Posts	Posted 09/02/2019 9:37 pm I do not own the LCS but have been friends with the owners for a long time and help out there for free for pure enjoyment. From my first hand experience I 100% concur with CoinCollector2012 and GrapeCollects. Report this Post to the Staff
MrPink2018 Pillar of the Community United States 2460 Posts	Posted 09/03/2019 06:52 am i think I saw the video, Joe2007. that's a shame for sure, if true, but moxking's point rings true, too.. I reckon you gotta get 'em while you can!... Report this Post to the Staff
	Replies: 5 / Views: 1,234

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