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 Replies: 30 / Views: 4,530 |
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New Member
United States
11 Posts |
What does everybody think the odds are of decent franklins, Peace dollars, etc. being melted by all these refiners taht seem to be on every block now? Do you think the refiners pull out decent coins realizing their potential numismatic value? If not could they be putting a serious dent in the population of some of these varities? |
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Pillar of the Community
United States
1204 Posts |
I think they all go together in denminations ! Sad but true , specialy halves ; I think the silver population of half dollars decreases to about 15,20% nowadays duo melting for the silver content.
Good question , I want see what people have to say ...
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Valued Member
United States
124 Posts |
I think we are experiencing another "Great Melt" similar to what happened during WW2. People are melting down anything that is metal, from copper all the way to gold. As far as numismatics is concerned, I think it will take 10-15 years to figure out new population reports. Buy keys and semi-keys while you still can semi-afford them.....
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Pillar of the Community
United States
5854 Posts |
I think most of it goes into the melting pot unless someone there decides to save it. I remember hearing that some of the modern commemorative are being melted because it is easier to liquidate the bullion than the coin. I think remember reading somewhere that back 1980, even coins like bust dollars were sometimes tossed into the melting pot.
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Bedrock of the Community
United States
20753 Posts |
I think your missing the facts as to who is melting coins. Yes smelters all over are taking in Cents with wire, cable and or anything Brass, Bronze or just pure Copper. Naturally they take in all metals such as Aluminum, Steel, Iron, Tin, etc. However, the main culprits in melting of Silver is Jewlers. For example there is a flea market not far from me that has several Jewlers there. They are usually from other countries and have no idea of Numismatic values of any coins in the USA and could care less. They are in buisness to sell Jewlery and how they get Silver for the cheapest price is with and from coins. To them melting a Silver Dollar is a Silver Dollar. Yes they may blow it by melting one that is worth thousands of dollars but to them it's just Silver. One I know took in a bag of Mercury dimes and melted the entire pile with no regards to what the dates or mint marks could have been. And why should they if people bring them in for that reason. |
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Valued Member
United States
277 Posts |
I personally think it's absurd anyone melts coins in the first place. I think we should go back to the way it was once upon a time. If you get caught melting coins, DEATH PENALTY! I know it's harsh, but hey, I'm a coin collector.
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Pillar of the Community
United States
667 Posts |
Without the possibility of melting junk coins there wouldn't be much reason to keep them around, After all the silver would be worthless.  Just thinking as a bullion guy. |
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Pillar of the Community
United States
3283 Posts |
Eventually the silver coins left behind have got to become more valuable.
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Pillar of the Community
United States
5854 Posts |
From where I heard that they were melting modern commemoratives, I think the person said it was not jewelers doing the melting but silver investors.
Edited by D0ubl3Eagle
08/18/2011 7:02 pm
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Pillar of the Community
United States
1590 Posts |
Going through the melt bags today I saw three Washington Proof Halves and a Commem from 46. I almost pulled them till I checked on ebay and saw that they were just selling for melt. I did pull a seated lib Dime and a 1919P WLH. The 1919 was fine and the SL Dime was AG. But what the heck it was at melt. |
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New Member
Korea, Republic Of
20 Posts |
Will they eventually be worth more? To be honest on a circulating coin I dont think they will. When I was younger (refering o my collecting age) I loved buying old gold thinking that it would be worth lots due to the melt back in the day. My main focus was $20 St Gaudens. However after buying a few of these and getting them graded. I realized that the Eagles I had bought and graded were actually worth more than the Gaudens. Now if you went after only key dates then maybe, but generally I dont feel that it will have that much impact on junk silver coins. Any Thoughts?
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Pillar of the Community
 United States
4618 Posts |
I talked to the owner of the shop where I sell silver scrap about this. He said he doesn't really look, know or care what gets turned in. He's getting so many coins now that he couldn't check them even if he wanted, because he doesn't have time.
He just bags them in lots of $1000 face and sells them or sends them on to be melted in bulk. If he sees a BU coin he'll put it in his display case, but other than that, off they go. I think he had 10 or 12 silver dollars and 4 or 5 $20 gold pieces the last time I was there.
If I wasn't moving to New Jersey, I'm sure I could have worked out a deal to search a few bags and maybe sell some of the better dates for him on-line.
I may ask him for a peek in one of the bags before I leave, but it might make me cry. It might make him cry too.
ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!! 
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Valued Member
United States
63 Posts |
MY coin dealer sent all his silver coin stock to the EVIL MELTER!  ANY SILVER COIN MADE AFTER 1930, EXCEPT RARE KEY DATES, IS NOW A 2011 SILVER EAGLE. Another coin dealer said they are taking all Silver coins out of newer Silver Proof sets and sending to the EVIL MELTER!  if silver goes up & stays up, a 1964-D dime will be as rare as a 1916-D Dime...  Edited by BILL99
08/18/2011 9:40 pm
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Pillar of the Community
United States
687 Posts |
Quote:
not jewelers doing the melting but silver investors Doubtful. US coins don't need to be assayed, if you melt them into bars you incur the melting or smelting cost and then incur an assaying cost when you try to sell your custom bars. Bad investment practice. Quote:
1964-D dime will be as rare as a 1916-D Dime Junk will always be junk. If anything becomes more valuable it's the borderline coins that don't quite qualify for semi-key status in today's market. |
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Pillar of the Community
United States
927 Posts |
I personally could never melt a BU silver coin. And it pains me to hear about uncirculated and proof coins being melted. But common, circulated dimes, quarters, and halves will never be worth more than melt value. They will always be available, even if many of them are melted.
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Valued Member
United States
493 Posts |
I'm now curious about how much of the old melted silver coins are being used to make new silver coinage.
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Replies: 30 / Views: 4,530 |
Posted 08/18/2011 4:53 pm
