Would you melt your bulk silver?

nwcs

Let's say the price of silver rises again. Say even to $20/oz. Would you sell your bulk silver coinage for melt?

airplanenut

Then it's just precious metal... no historical value... a coin will never be worth less than its metal content, so why destroy it?

MadMonk

In a heart beat. I've always bought junk silver for just that reason. To hold the metal, and hopefully profit. Then turn the cash into, say, a nice proof Barber Half.

IvanOnly

It would be a hard choice. Kind of depends on how bad I needed Money.
The main reason I have any bulk silver is just to hold, and look at. I never really bought it for investment, or resale value.

moosesr

Be carefull when you do sell your junk silver. I sold some of my junk silver that I found metal detecting to a dealer with an advertised buy price of three times face. When I received the check he had reduced the price because he said it was junk. His advertisement was for 90% silver and didn't mention quality. The add was in the back of CoinWorld.

Charlie

AbesNeighbor

I'd give it to young kids getting started in collecting before I'd melt it.

baccaruda

if you melt it, it's worth exactly spot silver value. if you sell it as coins for silver content, it's worth slightly more than spot. so why melt?

MrKelso

Yes i have a couple of Mint bags and 2 lb coffee cans (8 Cans) full i use one can to hold the basement door opened but i would melt in a flash at $20 an OZ.
Heck i would Melt them at $12 an OZ It's all total Junk Silver coins.

danglen

I figure that anytime I send junk silver to be melted I'm raising the value of the remaining pieces by reducing the availability of those coins. So besides turning a quick buck, I'm helping the hobby

Tade

Silver Rounds - Yes
Silver Coins - No

clw54

No, I don't like the idea of destroying coins.

GP

I have some silver rounds and rolls of circulated '64's that I would melt without hesitation. I wouldnt melt any older coins though, just stuff that is "bulk silver"

MacCoin

most of the silver I have is in bullion but if I had a bunch of AG silver I might.

wayneme

Their would be no point in melting coins as the Coins stay currant to the Market
Prices

BigD5

I send off circulated Roosies, late date Washington Quarters, Kennedies and Franklins to the melting pot. I check around if anyone wants them first, but there isn't too much demand for that stuff.

ARCO

I have always wondered why coins are melted at all. The silver ratios and content is constant. The silver in coins rises in perfect proportion to the price of silver, melting and purifying the silver from coins would only add cost where none existed before. Secondly, the bullion produced by the melted coins is backed by whom? Do you assay every bar for purity, or just trust the company that melted it down? It is not as easily exchanged or liquid for that reason.

Coins minted by goverments inherently have more stability as mediums of exchange as the weight and purity of the metals is very controlled and constant.

Tyler

GDJMSP

If you melt down silver coins - it must be assayed to prove it is silver and its fineness before it can be sold. While the Dept. of the Treasury will do this for you as long as you submit a minimum of $100 worth - they will also charge you to do so. So will independent assayers.

If you leave the coins as coins - there is no need to do this as the fineness of the silver content is already known and verified. So why spend additional money and reduce your profits ?