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At these levels, is much "numismatic" gold being melted?

CoinHuskerCoinHusker Posts: 5,033 ✭✭✭
in Precious Metals
I'm including modern gold commems, first spouses, etc. in this too. I remember the big run to melt coins a few years ago, is it happening again or are people waiting for higher levels...image
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Comments

  • ttownttown Posts: 4,472 ✭✭✭
    I sure don't see it happening since you can't get most of these coins for under melt except the 80's coins. It seems they are melting 10k and14k jewelery there's very good demand for smaller size gold coins with the price of gold being so high.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    I don't know why they would be melted. Coins are a good size, portable, with defined and accepted purity. I would guess they're mostly re-sold "as is." I think the stuff heading for the melter is probably jewelry, etc.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    I bet some modern pieces are being melted or will be shortly if the run up continues.

    The big players are still contractually obligated to the bigger good delivery bars. It's not like they can exchange contracts on 1/10th eagles or 14k gold rings.

    IIRC, there were some articles and threads here about the larger bars (400 oz) drying up.

    If the smelters can't produce enough good delivery bars from cash4gold and the rest, they'll turn to lower tier coins.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    With all the hoopla about Tungsten bars surfacing again it might put a crimp in those demanding 400 oz GD bars. Better to go out and get the coins in bulk if you can...more divisible and easier to authenticate. Of course, this will only lead to more shortages in the coin gold.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jmski52jmski52 Posts: 22,838 ✭✭✭✭✭
    What a crazy place! They melt the bars to make coins, and then melt the coins to make bars again. They dig the stuff out of the ground in order to refine it and then put it back into the ground! (Courtesy, Moody Blues, To our Children's Children's Children).

    Since gold is at unprecedented levels (at least in nominal terms), it seems to me that we are in fact heading into uncharted territory for all gold coin issues.

    I do tend to agree with secondrepublic though, "I don't know why they would be melted. Coins are a good size, portable, with defined and accepted purity." It really doesn't make sense to melt gold coins of known weight & purity but then, there are lots of things that really don't make sense.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭
    Most coins are sold, traded and not melted.
    email: ccacollectibles@yahoo.com

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  • CaptHenwayCaptHenway Posts: 32,129 ✭✭✭✭✭
    A few years ago we melted soldered $5's, $10's and $20's, but not any more.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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