How many would sell your numismatic coins now worth melt if you knew the coins would be melted?
cameonut2011
Posts: 10,439 ✭✭✭✭✭
There is another thread asking people to post their numismatic silver with a price now eclipsed by bullion value. If you could get 95% spot on these from a refinery knowing the pieces were destined to be destroyed, would you sell them anyway?
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I would definitely take the billion dollars.
Bullion not billion
Didn't he bury a boat load of these out in the desert outside of Las Vegas?
Ah....
I don't get the ask. I think if anyone sells, they don't care what happens next.
That’s what I initially thought but some posters in other threads seem to look at the pieces with nostalgia or with regret the pieces would be destroyed.
I think it'll make some of the common pieces more valuable down the road. If you have a chance to get way more than you put in, I say take it.
I'd still take the billion dollars.
I have always believed that the bulk of the hobby consists of lower budget collectors seeking out nice circulated coinage. I know there is a vast supply of silver and gold coins out there and the melting now will not wipe it out but much will be lost.
I enjoy the hobby and want to leave it with the hope that new people come along and enjoy it too. Walkers now have a melt value of $40 and Morgan's are $86. Old timers could probably melt all their AU to low MS (1900's) coins and make money.
On a side note, I have had several collectors sell me their old holders. They said they picked me because I won't crack them. I think there are a number of collectors that see history in coins and the hobby.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
For me, this has never been merely about potential appreciation, but more-so the appreciation of these handheld gems.
I couldn't stomach it.
If they’re only worth the silver price, are they numismatically desirable ? Seems to me if the value is only intrinsic, it’s worth stacking for times like now. Sell and upgrade to a collectible.
``https://ebay.us/m/KxolR5
But in the past when you upgraded the dealer normally held the lower grade coins and sold to a other collector. What is left for entry level people if it all gets melted?
I get it, lots of money to be made. At $250 an oz it may become hard to hold but current prices are affecting the hobby as much as the aging out of the collector base.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Silver is going to the moon. (I'm told. ) I'd wait for 2 billion.
All comments reflect the opinion of the author, even when irrefutably accurate.
The only way you can ever know that it won't be melted is if you hold it yourself. You can't control it later. Even if you sell to a collector at a premium, if silver goes up, she may melt it.
All comments reflect the opinion of the author, even when irrefutably accurate.
I still regret the coins I sold in 1979 so I guess things will have to progess without me. James
No because more then likely I like the coin better, a no brainer
Note: really needing the cash is a different matter, John
I have a rolls of worn 1930’s and early 1940’s Quarters that would go right into the melt pots. It would be a shame to melt but their numismatic value is much lower than their silver value. These are the same coins I bought in the early 70’s as a kid with no money. I’d go to the coin store buy them rush home and put them in my blue Whitman holder and try to figure out how to fill the next hole. Always on the lookout for golden ticket, the allusive. 1932 D and S. Every time I found a worn 1932 I’d hold my breath as I turned it over hoping. Never happened but never gave up.
It’s a shame but I think allot will go into the melt pots.
JMHO,
Mike
MIKE B.
The only “melt” coins I’ve disposed of are modern 99.9% silver. I don’t have any other coins where the melt value has eclipsed the numismatic value, but if I did, I would sell them without hesitation if I had enough of them to take the trouble. There will remain enough old circulated coins extant to satisfy those who want to put sets together and the challenge will be enhanced.
JM Bullion removes minimum buy amount......
"We have deliberately chosen not to implement order minimums, as this would disproportionately impact new and smaller investors".
Buy now $1 face at $64.50 for 90%.... Silver at $113 +$11.80 Gold +114... Melt ?
As Rhett Butler said........"Frankly my Dear I don't give a damn"
It helps hobby to have herd thinned out from time to time.
Yeah, should have waited. I had 1k face 90%, sold half a few months ago, and the other half 3 weeks ago, lol. Bought it 5 years ago, so still not bad but oh well.
Meh. I've been selling since $50, regularly. No regrets. I told myself I'd do it in 2013 and I'm following through on a promise to myself. Sold another 20 ounces last week. Will sell more next week.
All comments reflect the opinion of the author, even when irrefutably accurate.
I converted almost all of my seated quarter set into gold buffs in 2024. Sold half so far. Will probably keep the other half for awhile. Fun times.
I don’t care if the coins I sell get melted. If I want them preserved, I’ll keep them or give them to my kids (whom I can control for a few more years).
My 30 cull-to-vf Mercs and dozen ‘64 Kennedys and similar coins aren’t going to affect any future collectors, but can help me get a desirable coin that even my kids might enjoy.
The stuff I’ll get rid of was considered dreck when silver was at $15/oz, it shouldn’t be considered better than that now that silver is up.
Edit - my examples above might not have been the most numismatic, but the raw proof Franklins and Morgans can slot in there for better effect.
Silver $117 +$15 wow selling some 90% silver
Not a bulk raw BV value junk guy.
lol - It makes no difference to me if they get melted later (don’t have control of that). I refer to CDN CPG for pricing. As far as somebody telling me a slabbed (especially a CACG or PCGS) MS65 only worth melt - tell them shove it lol.
Furthermore - Many pricing ahead of Market in anticipation of higher Prices, BV (bull mkt strategy). I don’t have any Numismatic coins worth only melt / they worth their relative CPG value or more all slabbed except some JB material. Many in coin club taking theirs off mkt in anticipation of higher prices.
Now somebody that just does raw junk well that’s them how they manage it. If numismatic coins melted believe their CDN bid will go up. Low pop stuff especially. No sane well off player is going to give them away at melt.
@ $150.00 I may need to rethink some things but mostly to upgrade some I've been eyeing.
How about $300 silver ounce in 11 months, end of year 2026 ?
Or $1,750 silver ounce end of 2030, in 59 months ?
With the current metals increase I have learned USA slabbed Proof MS 70s or 69s bullion buy price at less than spot tells me anyone's encapsulation fees are no longer required or desired to cash out if market continues to increase from here. Why drop $20 to $50 or more & round trip insured shipping & your time for a service today's buyers do not compensate sellers for ?
If they feel that attached to the coin then they shouldn't sell.
If I sell something I couldn't care less what the buyer does with it.
I used to collect YEARS ago and disappeared. I'm here to say... YAY! I finally have an off ramp to all the junk silver I've accumulated over the years.. all the Entry Level Collector stuff! Off to the smelter it likely goes. I have kids to help put through college.
I enjoy the hobby too much to hand over really collectable coins to the melters.
So far as the excess junk the mint is selling now at inflated prices, they can fire up the pots.