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 Replies: 14 / Views: 2,126 |
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Pillar of the Community
United States
548 Posts |
*** Moved by Staff to a more appropriate forum. ***So many of the Mercs I recently received appear to be in reasonable shape. I was kindly advised by a coin collector in the area not to add the nice ones to the "junk" silver pile. Looking at Coin World values, it appears that "all" Mercury dimes above VF-20 (and surely above EF-40) are worth at least double melt. In other words, "all" Mercs above VF-20 should not be junk. Thoughts? 
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Bedrock of the Community
United States
20753 Posts |
As far as I'm conserned anyone that says any Mercury dime is JUNK, is not the best person for you to talk to. Prices of Silver go up and down but coins are a part of a hobby and supposed to be for fun and education. Yes there are those that say almost anything but try to remember that if a coin has a date and possibly a Mint Mark, it could easily go into someone's Album or Folder. Those that say a certain coin is JUNK are possibly the same ones that melt them for their Silver. Again, remember that once that is done, that coin is gone forever. That means many, many people, especially kids, just starting out will never see that coin nor will ever be able to even buy one. |
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Pillar of the Community
 United States
548 Posts |
Yeah, that's the path my mind was taking. That nice coins, even if they weren't particularly of low mintage, are still desirable to many folks.
The question is, do these coins (VF and above) command at least a 2x premium over their silver content?
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Pillar of the Community
United States
5826 Posts |
Dates and mint marks plays a role in prices. I think perhaps any so call JUNK coins will become harder to find to complete a album set. There is a collector I over heard him saying he just wanted to collect Good condition Barber dimes, because he can't find them at those prices and dealers in my area only have them in fine or better conditions. |
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Bedrock of the Community
United States
12437 Posts |
Quote:
The question is, do these coins (VF and above) command at least a 2x premium over their silver content?
Only if you are looking for one particular date and mintmark, the stocking of individually carded coins in a dealer's case is an incurred cost so those coins will always be priced higher than their PM value. If you are buying bulk amounts, only 3 Mercs matter(16D, 21P, and 21S) and the rest are valued at spot levels. Also, there is no need to be offended by the term "junk". It is merely a term that applies to common average circulated coins that do not have a true premium above their spot(melt) value. It does not imply that the coin itself is junk/worthless or it is destined to be melted, it is strictly for distinguishing bullion value coins from numismatic value coins. With the dramatic rise in silver spot prices, many common silver coins have lost their numismatic premium. Back when silver was $4-5/oz, the majority of Mercs you saw in bulk lots would the the most common issues from the late 30s-40s but now it is not uncommon to find Teens and 20s Mercs in bulk lots. |
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Pillar of the Community
United States
511 Posts |
Circulated Mercs are a common item in junk silver buckets and bags at coin shops. I buy as many as possible for bullion-related prices.
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Pillar of the Community
United States
548 Posts |
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Circulated Mercs are a common item in junk silver buckets and bags at coin shops. I buy as many as possible for bullion-related prices. Why? Because you're a collector? Because you think they're cheap that way? Because you make $ off them? |
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Bedrock of the Community
Australia
21786 Posts |
From my Australian experience, I find it quite easy to find wartime Mercurys in Unc FSB around the $6 mark. (perhaps one coin in 100). I suspect that there are quite a lot more of these available, than the market is looking for.
Obviously, such coins are not bullion 'junk', but I also suspect that there is a more active market for the lower grade bullion coins just now.
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Bedrock of the Community
United States
11951 Posts |
IMO - a long time collector, that has been going to coin shops for 30+ years and currently work in coin shops. - If a dealers could get 2X melt for Mercury dimes they would do it. - There are many more people wanting to buy the coins as a silver investment then there are to complete albums. For me I have recently been putting away dimes as a silver investment. Yes, when I see XF or better Mercury dimes in the silver bucket I buy those. But if they are VF or less I will grab the BU looking Roosevelt dimes, because I want full weight dimes vs collector dimes. |
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Pillar of the Community
United States
7840 Posts |
I have seen quite a few threads wanting to pay spot for Mercs, Walkers, Franklins, and possibly earlier. I guess some want to get a deal (so would I) and forget numismatic value.  Edited by oih82w8
10/03/2011 11:49 am
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Pillar of the Community
United States
3294 Posts |
I can get mercs walkers and Franklins for spot from my coin dealer...
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Pillar of the Community
United States
7840 Posts |
What condition are they in for spot at your dealer?
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Pillar of the Community
United States
3345 Posts |
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only 3 Mercs matter(16D, 21P, and 21S) They never made 1921-S, only 21-P. I'm sure that was just an error.  |
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Pillar of the Community
United States
3294 Posts |
I generally sort through them and only select ones which are VF or better unless it is a rare date or something.
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Pillar of the Community
United States
2120 Posts |
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They never made 1921-S, only 21-P. I'm sure that was just an error. I'm sure he meant 21-D, which they did in fact make.  |
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Replies: 14 / Views: 2,126 |
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Posted 10/02/2011 11:26 pm
