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Convincing yourself to scrap coins
goldfixer21
Posts: 80 ✭✭✭
I have around 10 ounces of gold coins/collectables that I don't believe have much value over melt . I can't seem to get myself to scrap them. They are a combination of Canadian Olympic 24K stamps and 1/2 Canadian proof coins. All are in nice wood boxes and such, and it just feels wrong to melt them down. Anyone else second guessed melting coins?
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I would just sell them as is. Try the monthly BST thread here or the BST Forum.
Worry is the interest you pay on a debt you may not owe.
I agree with @PerryHall.... There are always collectors that would like to have such coins...The BST has no fees, so a good venue for both seller and buyer. Cheers, RickO
Even in bad condition I would never scrap coins. There is all ways more history to a coin than a useless lump of gold
Young Numismatist/collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
Best of luck in your struggle.
Let us know what you decide!
Liberty: Parent of Science & Industry
The only gold I would scrap is broken jewelry or heavily damaged coins. Scrapping proofs is crazy talk. You’ll be able to move them.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
Here are some pics of some of them. I have 2 sets of the 24K stamps, 1 set of stamps that includes a 24K-a silver, and a bronze. Each gold one weighs 23.33 grams . The round ones are all the same gold content but varying subjects. Each of them has 15.551 grams of gold (1/2 ounce)
They are way to nice to scrap
Young Numismatist/collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
@goldfixer21
Try and sell before scrap. Couple links to sell on CU.
Monthly sell thread in this forum: https://forums.collectors.com/discussion/1027687/the-official-november-2019-precious-metals-buy-sell-trade-thread
Or the main BST forum on CU: https://forums.collectors.com/categories/buy-sell-trade-u-s-coins
They maybe nice, but there is not much of a market for them. As mentioned before, try the bst at @ spot. You might get a buyer, but I'm not one.
actually, I'd note that 2 things while trying to sell them.
note that you know they are hard to move and you are willing to take spot or back of spot for them.
note the fancy packaging does not have to be shipped with them if the buyer does not want it.
Try consigning to Colonial Acres in Kitchner ON. They have a monthly auction the $100 Coins do very well in their auctions. Call Todd for details
scrap> @Kliao said:
Ive melted plenty of these. Its sad, but with limited demand many of the Canadian Commems become scrap.
Doesn't matter. Scrap is scrap. If you enjoy melting gold, melt it.
I've not had any issues with scrapping coins.
Doesn't bother me a bit.
If I could sell for more, I wouldn't scrap, but if I can't.....
Melt away.
Why would you scrap collector sets? I get if it was broken jewelry...
No real market or demand, more liquid as accepted known pieces I stead of odd commems. Although there is little premium is any bullion product at the moment. Stuff like this I would most likely offer 90-95% of melt on, over the counter. Dealers typically 98-99% of melt for quantity.
The ones he has are nice and I hope he does not scrap them.
I'll video the the melt...it's quite satisfying.
It would be a crime to melt those 24K stamps, please don't do it.
The whole worlds off its rocker, buy Gold™.
So many items out there like this.
Of course, not every NCLT issue should be melted. To give one example the Pan Pac Commemorative $50 gold slugs are NCLT coins. So are the 2019 ERP ASE's.
Worry is the interest you pay on a debt you may not owe.