Options
with more and more silver coins going for melt
laserart
Posts: 2,255 ✭
what does that do to the value of what ever is left? In terms of collectibility that is.
"If I had a nickel for every nickel I ever had, I'd have all my nickels back".
0
Comments
for example, good looking barber dimes, all dates.
any errors like clips.
obvious mint state coins will be set aside and priced accordingly.
any peace or morgans that are good looking will be priced higher
by the dealer and resold.
etc...
the true junk gets melted and there is metric tons of it.
Most dealers won't have the time or inclination to look at any of the coins they are moving in bulk.
I knew it would happen.
much of anything. Only coins that are worth less than melt are at
high risk of suffering the fate. This means it will largely be culls and
high mintage and low demand coins.
But if you look at this in the long term then another picture entirely
emerges. Even 1964-D quarters with a mintage of 700 million might
suffer another severe drop in numbers. These are ubiquitous so they
aren't going to disappear overnight but time has a way of making ev-
everything gone. Very few '64-D quarters are worth over melt today.
They pretty much have to be solid gem to be worth saving and this
means large percentages can be destroyed. Most of these aren't ev-
en checked for the scarce type "b" reverse or the scarcer clad reverse
so more of these will be destroyed.
'40-D quarters are often heavily worn and there isn't enough demand
to protect them. These already suffered in the treasury melt of '68/'69
and will be affected again. The mintage is too low to keep melting these
in large numbers. Coins like the '82 Washington half will lead the charge
into the cauldrons and populations could be decimated if this goes on
for any lenght of time. Fewer than about 1% of these are high enough
grade to be protected from destruction.
A lot of what's being melted won't be missed in the foreseeable future.
How many tens of millions XF 1962-D dimes do collectors need? But
there will be some things affected in the short term and in the long
term nothing is safe.
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
-------------------------
to someone besides a smelter.
and yes, they will take a peek inside. if you saw mint state luster
on a lot of the coins are you telling me a dealer will not set it aside
for a closer look later?
i think they would.
it is the true junk that gets melted.
for example a bag of 1000 morgans and peace walks in. they can
easily sell those low MS coins for 13-15 each all day. why send them
to a smelter when they can sell them at local shows or in the store?
i am talking normal business, not a line of 20 people going out the store. that is a different creature and rarely happens. matter of fact
the most people i have seen inside a coin store at once numbers around 5.
<< <i>
for example a bag of 1000 morgans and peace walks in. they can
easily sell those low MS coins for 13-15 each all day. why send them
to a smelter when they can sell them at local shows or in the store?
>>
Melt on a Morgan is $12.66
It's hardly unusual for things that don't sell rapidly or easily to go into melt buckets even with a little premium.
surely you must be talking about lower grade examples. i am discussing
nice looking mint state ones. would not a dealer pull out anything
that was obviously 63 and higher?
it only takes a moment to grab the good looking ones and replace
with garbage examples.