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Are 1956-1964 flat pack proof sets disappearing due to the increase in silver's spot price.
SanctionII
Posts: 11,747 ✭✭✭✭✭
I have stopped by a few B&M shops over the past few days to snoop.
I have not seen a single flat pack proof set from 1956-1964 in these shops.
Where are they?
The melting pot or in a secret location owned, managed, operated and maintained by "Mr. Big"
I have not seen a single flat pack proof set from 1956-1964 in these shops.
Where are they?
The melting pot or in a secret location owned, managed, operated and maintained by "Mr. Big"
0
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The name is LEE!
<< <i>No.
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Also get ready to say goodbye to most of the Blue and Brown Ikes, and many of the modern silver commems.
I'm even considering scrapping a big portion of my Franklin Mint collection.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>they did at my house >>
Really?
How many did YOU melt vs sell?
The name is LEE!
<< <i>I'm even considering scrapping a big portion of my Franklin Mint collection >>
Wow, I'm surprised you held on to those dogs as long as you did. Not much of a market for Sterling Silver. I do agree, that FM, artistically, had some superior products...to bad most were in Sterling Silver.
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
<< <i>Who melts them? Why cant they melt copper too? >>
There's a US law (passed in 2006) that prohibits melting of cents and nickels.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>
<< <i>Who melts them? Why cant they melt copper too? >>
There's a US law (passed in 2006) that prohibits melting of cents and nickels. >>
That is correct. And, I would be willing to bet that at the current copper prices, if that law had not been passed, the copper cents currently found in change would dry up pretty fast. As it is now, I think many folks are hoarding them in hopes of that law getting turned over some day.
trust me, at the current price the 61-64 Sets are ending up with all the "junk" Silver and finding their way into the melt pot.
Website-Americana Rare Coin Inc
<< <i>I'm even considering scrapping a big portion of my Franklin Mint collection. >>
Say it ain't so, Andy.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
A coin shop doesn't maintain a stock of something like '68-D half dollars or even BU rolls of
them but when the price goes up they might bust up those 100 mint sets that are just sitting
around. Few collectors keep a lot of things like circulated later date silver coins but they may
have BU rolls that get traded off.
Even people melting copper now will likely be buying BU rolls to save the trouble of sorting.
Anything new in this area since I first posted this thread in 2010?
Are flat packs being destroyed and the silver coins melted, or are they just migrating from place, to place, to place as part of the endless "river of silver".
<< <i>I don't think they melt I just think they just keep trading hands? >>
I also agree, but once proof silver coins are out of the mint cello and in a bag jangling around with a bunch of circulated coins, isn't the end result the same?
The proof sets from which they were liberated are no longer intact, and the individual proof coins (the silver ones, for sure) are no longer in the population of proof coins in proof condition.
The population of flat pack sets from those years is down whether the silver coins from those sets are melted or bagged and trading hands as 90%.
Or am I missing something?
So I cut the halves, quarters, and dimes out of the sets and made proof rolls. Been fortunate to sell rolls at well above melt - more than I could have ever sold them for separately.
Of course, I keep all the early to mid 50's proofs - and sell only the 1958 to 1964's in rolls.
I think i have one roll of dimes left and one roll of quarters.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!