Nevermind "junk silver" - have you considered the implications of "junk gold"?

DaveG

We've all been focusing on "junk silver" going to the smelter, but have you thought about "junk gold"?

I only get the monthly pack of the Grey Sheet, but in mid-April, with gold at $597, Bid for a common with-motto Liberty half eagle in XF was $155 (melt was $144) and Bid for a common with-motto Liberty eagle was $292 (melt was $289).

Compare these prices to Bid for a generic NO-MOTTO XF half eagle ($180) and eagle ($315)!

Today, with gold about $680, melt for a half eagle is $165 and it's $329 for an eagle.

How soon will it be before XF 1847 eagles or 1851 half eagles get shipped off to the "smelters"?

These coins don't get much respect because there's so little demand for them (people buy them for their type sets, but very, very few people put sets together); but, I'd bet these supposedly "common" coins are really rather scarce.

I think it would be a great loss for the hobby if these coins disappeared because no one wants them.

RYK

I do not think we are quite there yet. Gold coins generally sell at a premium to melt, albeit often a small one. Heck, the official US bullion coin, the American Gold Eagle, sells for a premium to melt. I once sold a rim-brusied/cleaned Liberty $20 for a hair less than melt, and I thought I was silly for doing so.