This New Silver/Gold Boom Will Help And Hurt Collectors

You should collect Roman coins. I hear no one is melting those...yet.

In all seriousness, I wouldn't buy from a pawn shop if my life depended on it unless you did your homework and you knew what you were getting and what an honest price was/is for the item. I would buy from a trusted local dealer or from ebay/craigslist. I'm not going to sit here and debate the merits or demerits of one or the other, I'm just saying that you have more options than the ones you listed.

Also, get enough posts and you can buy/sale/trade on this forum. I've had nothing but good experiences with the folks here.

I've only bought from craigslist for now.
I hit a couple pawns to get an idea and that's exactly what I got from them, very sly.
no good dealers around my area. There is one and he wont put out his coins even though it says "coins" on his door. He's holding them so he can melt them at a high price. I gave him an ear full.
I am dealing with a few local craiglisters at the moment

But the boom has made it MUCH more expensive for a new collector to get into the hobby even on the lower levels. This is going to mean even fewer new collectors or young collectors entering the hobby.

I've only gotten into collecting again in the last 5 months. inherited a collection and selling some of it got me back into it. Most coin shops have now turned into bullion buyers/sellers only. They don't carry much inventory and don't care to either.

When I first read all the posts about melting coins I thought they were joking. I'd always heard it wasn't worth the $ to heat up a furnace enough to melt coins. But slowly I realized it has become a big part of the industry now. In some ways they can never UNMELT them, so coin populations will only shrink and that can make them rarer and rarer overall. But as you mention, when the worth is so intertwined with the metal price no one wants to buy them anymore for their numismatic value. So it's a 2-edged sword for sure! I'd hope kids would start with pennies and nickels anyway - like I did - so that shouldn't deter kids with any interest. But collecting silver coins seems to be a dying art.

Depending on the coins you are interested in, online ( from pics which makes it a gamble )or local shows seems like the best sources for buying to me. In my state most shops charge 7.75% tax and that dramatically hurts/affects some of the value potential of any deal. The shows DO NOT charge tax nor do out-of-state dealers online. You obviously also have the opp to inspect the coin in person, at a show, which is a major advantage. Many dealers bring their best stuff to the shows and some don't have brick-and-mortar shops even - deal from their home only outside of shows. I have mostly stopped bothering to check out local coin stores. Those that are still around are worthless for coins anyway. One local has some good deals on halves XF-AU58 but otherwise most aren't worth the gas it takes to get there. I've gotten some good deals on gold coins locally but that's about it. A couple of guys will waive the tax if I pay cash so the deals are decent - but their selection is very limited.

I think you'll have more luck online - ebay and the like. EVERYONE was selling Morgans at the show I was just at last weekend. I don't like them personally so I don't pay attention to them. But they are the IN COIN everywhere from what I gather. I am holding onto my JUNK halves and Morgans to sell them when silver goes through the roof again. LOL It wouldn't surpise me to see it at $60/ounce in the next couple years sometime.

GL2U

It is a double edged sword. Numismatic value has not been able to keep up with the price of silver. If the silver coins go away the ones you acquired will be worth more down the road. I have about 15 years left and I continue to put
books together and then work on upgrading. S

Start slow and pick what you want. You have to be patient.