What Are Your Thoughts On The Melting Of Silver Coins?

Back in April, I visited a dealer in London who is very experienced in the area (no, not the Coincraft..). At his shop, he showed me a bag full of mostly George VI and George V silver coins, at least of several kilos. I noticed some aUNC florins, even very pretty shillings in them. He told me they are all going for melting. I knids felt sorry for those coins because if he'd let me go through them I am sure I'll find some to buy. (it was right before teh closing tiem and believe me coin shops in London close almost right before midday!!)

I think it is a shame that they are melted - maybe coins that are in really really bad condition should be, but like someone said, even good coins are melted. me no like

I don't think we will ever see mass melting again like 1980, the rise in popularity of face value bags has negated the need to melt coins into bullion. $100-1000 face bags have become quite popular as an investment vehicle for silver and those bags are usually quite liquid unlike large bars that may have to be assayed if they are not from one of the top bullion companies(Englehard, Sunshine, etc).

Horrified and not surprised. That sums is up quite well.

Wow, thanks for all of the responses, everyone! The reason why I have raised this question is due to the fact that so often in the US nice dark side coins are melted by dealers since they don't appreciate them. At times many of these are high-grade coins that are just perceived as not having an immediate market in the area. It seems like "it is all about turn around and making some money." This raises the issue of whether the business of numismatics and bullion has actually resulted in the needless destruction of many coins.

molydeii- I think that I visited Coincraft when I was in London recently (they are across the street from the British Museum, right?) If so, I was just baffled/ appalled by their prices. Never have I seen such sky- high prices on such mediocre common coins.

Coins have been melted down for the precious metal contents since coins exist.
Coins have been over-struck with the face of a new ruler or other reasons.
Some coins have been minted in high quantities and been melted down for almost the complete production, making them highly sought items.
Just to mention the last year of the golden US $20 coins
The French issue of 100 francs from 1870 has almost completely been melted down. They have been delivered to Germany to pay for the lost war.
This year is also extremely rare and the most expensive French francs coin.

Personally I also find it a pity to melt down collectible coins, especially when you don't know what you have.
You can destroy historical values.
I once saw a large silver lot on ebay containing one French coin alone worth three or four times the price paid by the winning bidder for the whole lot...
But the seller refused to send to Europe.

ebay is too expensive to sell any real quantity of anything. I've twice saved up till I have a thousand ounces or so and gotten them smelted into kilo bars. I'm getting close to that again as I go through boxes of collections I've picked up in last 6 or seven years. Rolls of silver quarters are about the only exception and then it's break even on spot after fees. Silver dollars sell at a loss after fees (for crappy melt type/damaged ones).

Some coins have numismatic value beyond their bullion and some do not. It's that simple. It doesn't bother me in the least to melt coins for their silver, there's a reason they were made of silver in the first place - their metal value.

Obviously I collect coins and enjoy it. I just can't get attached to a harshly cleaned worn out half that is only worth melt even in mint state though.

Guess I'm not that sentimental.