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 Replies: 68 / Views: 7,329 |
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Pillar of the Community
United States
2734 Posts |
Quote:
biggfredd: Quality bezels hold coins without hurting them. Absolutely! In fact, the Nebraska Quarter I mentioned was set in a "non-damaging" bezel. Unfortunately, the simple concept of "not damaging the coin" when making it into jewelry was not as prevalent in previous decades, as evidenced by the multitudes of holed and rim-damaged coins still in existence. Not just gold and silver either, one local dealer has a bargain box of pre-1858 Large Cents that are ex-jewelry. |
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Bedrock of the Community
United States
10045 Posts |
Quote:
The likelihood of there being a $3000 coin out there to accidentally get refined is pretty slim to nonexistent Well, right: that's an extreme example, but my point was US dealers simply won't spot scarcer varieties that specialized collectors would; they either don't have the knowledge or time to check. As a more plausible example, consider this 1934/3 threepence. Not extremely rare, but still has a premium far above BV. Very few dealers focused on melt silver would spot it.  Edited by DVCollector
02/26/2011 1:26 pm
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Pillar of the Community
 United States
1887 Posts |
The metals dealer where I buy scrapped foreign silver on a regular basis does *sometimes* separate the larger coins for the local crown hounds to pick over, but he pays no attention to the smaller stuff whatsoever. There are always lots of British Empire 3d. and 6d. coins in that tub. I usually give them a pass unless they are BU. In my vast ignorance and inexperience, it would not occur to me to look for overdates. A recent rescue:  |
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Bedrock of the Community
United States
10045 Posts |
 That's a nice 43-D threepence--back when the Denver and San Francisco mints were coining these for Australia. |
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Moderator
 United States
187446 Posts |
Quote:
Didn't mean to scare you with the "once they're out of my hands" remark, but it's the truth. Once you sell the coins, the buyer can do what they please with them. Very true; which is why I have never sold a coin. I fear what may happen when removed from the friendly confines of my collection.  I did trade a lot of duplicate 90% and 40% silver half dollars for the Franklin half dollar dates I needed. I wonder if those ever made it back to another collector. I know the dealer and I am certain that he never sent them into oblivion; however, once he sold them...  |
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Rest in Peace
United States
9104 Posts |
Once a farmer sells the manure, he doesn't give a .....
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Pillar of the Community
United States
1887 Posts |
The 'manure' of common silver is the organic fertilizer for the sprouting of future mature collectors.
The mass melting of these commons is creating a desert where few seeds will sprout.
Yes, I am banging on tin pans in the midst of a stampede with little hope of halting or even slowing the continuing onslaught of destruction as the price of argentum creeps ever higher.
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Valued Member
United States
327 Posts |
I think it's pushing the financially strapped lower end collectors away from silver and into the one and five cent pieces or over into mint set/proof clad areas. Silver willcrash back to a more sane level at some point. Precious metals are currently bubbled and cannot retain the current high prices indefinitely.
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Moderator
United States
187446 Posts |
It is a good thing that I do not collect manure. |
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Pillar of the Community
United States
1887 Posts |
Whoever owns a pet, collects manure. It's what you do with that manure that separates you from the average pooper-scooper or litter-box dumper. If your 'pet' hobby is collecting silver coins, and you dump your worn commons on the metals market, you are depriving some enthusiastic young beginner of an entry point. Sure, there will always be plenty of base-metal dross to paw through. But it's just not the same! |
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Bedrock of the Community
United States
10045 Posts |
Quote:
The mass melting of these commons is creating a desert where few seeds will sprout. Good observation! How many dealers would keep "common" US silver in their inventory at these melt prices? |
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Pillar of the Community
United States
3294 Posts |
It depends. Some of the places around here have individuals buying the melt coins as fast as they come in.
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Valued Member
Canada
183 Posts |
I am cashing in my old silver pre 1967 canadian coins that doesnot make good grade $34.00 an ounce and climbing.IF everyone does this it will make the value of your high grade silver go up in price.
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Valued Member
 United States
307 Posts |
I see this as a game. Just came back from my coin shop and the owner buyer said he sold $37,000 dollars worth of silver to his buyer. That's a lot of change but not a lot of silver, around 1300 ounces. That could be 1300 American Eagles or 1600 Morgans. When put in perspective our collection of silver coins may better serve us as cash in hand rather than duplicates in storage. Just a thought as age and economy play a part in our decisions. LOL
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Rest in Peace
United States
9104 Posts |
Quote:
I am banging on tin pans in the midst of a stampede with little hope of halting or even slowing the continuing onslaught of destruction as the price of argentum creeps ever higher.
You're also overlooking the fact that the melting of hundreds of millions of silver dollars in the early 1900s and prices in 1980 higher than today didn't seem to have any lasting effect on coin collecting. There are only so many collectors, and LOTS more coins. |
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Replies: 68 / Views: 7,329 |
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Posted 02/26/2011 1:25 pm
