Are the 2007 spouse being melted at these prices?

Zippy7

Are these a long time hold???? Do you think the mintage numbers are shrinking???

MsMorrisine

The price certainly makes it possible.

I wouldn't doubt it.

TomB

One of the local coin shop owners around here has told me that he regularly sends in any of the 2007 First Spouse coins to the smelter along with broken jewelry or other junk metal.

fcloud

Yes they are. One of the dealers in my area sends that stuff straight to his smelter.

holeinone1972

Why melt it?

So they are basically selling it for cash, or do they get the gold bars, nuggetts or whatever in return?

Are they really worth more melted, than they are in bullion?

Help me understand the logic?

RYK

<< <i>Are these a long time hold???? Do you think the mintage numbers are shrinking??? >>


The mintage numbers will never shrink, but the extant population is clearly shrinking.

Zoins

Melting makes for more interesting collecting down the road, especially since these aren't designed to circulate.

Mintage numbers aren't shrinking but survivor numbers are.

Mmm, what RYK said! ^^^

derryb

Unless the mint melts them the mintage will always be the same. There will only be undocumented speculation on surviving spouse numbers. Without documentation values won't change that much.

mikeyg

unbelievable.If you are going to melt your 2007 first spouse coins,why not offer them on the BST b oards at melt plus postage.Im sure you would get alot of buyers.

holeinone1972

<< <i>unbelievable.If you are going to melt your 2007 first spouse coins,why not offer them on the BST b oards at melt plus postage.Im sure you would get alot of buyers. >>



I would assume these are being melted from dealers, and most who do not frequent the PCGS boards.

illini420

The 2007 Spouse coins were being melted back in 2007-2008 when gold was around $800/oz. I'm sure they're still being melted now with gold above $1250/oz.

fcloud

The big dealers do it for cash flow. It is almost instant cash. Some of the stuff just doesn't turn quick enough.

CaptHenway

Since the program started we've only had 2 or 3 pieces sold back to us.
TD

cladking

Once the silver value of a coin or set exceeds its numismatic and face values it
is going to get melted. Only those specific examples that come to the market dur-
ing this time are in extreme danger of being destroyed. Many people will cull their
collections and holdings to get rid of items that no longer have a premium while
others will trade junk for the better material that's coming to market.

A lot of moderns have simply been decimated by melting. This includes very low
mintage gold coins but especially it applies to high denomination base metal coins.
People see huge mintages and have no idea they can be almost completely gone
and uncirculated examples unavailable.

Zoins

In general, for collecting, is preferable to melt or not melt given that these are NCLT.

kiyote

Ahhh, so much for the "moderns survive 100%" myth used to bash modern collecting.

crypto79

<< <i>Ahhh, so much for the "moderns survive 100%" myth used to bash modern collecting. >>

never heard 100% used before but even 50% is a lot of coins

OPA

<< <i>The 2007 Spouse coins were being melted back in 2007-2008 when gold was around $800/oz. I'm sure they're still being melted now with gold above $1250/oz. >>



True...but at the time with the high numbers minted & sold, most of us considered them just bullion coins. I'm wondering if that mindset is still prevalent.