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With Silver prices so high...

jmj3esqjmj3esq Posts: 5,421 ✭
in U.S. Coin Forum
What do you do with numismatic items like medals that are now worth more in silver than as a collectors item? For example, I have a .999 fine silver Indiana Bi-Centennial Medal that weighs almost 5 oz in pure silver. I bought it because I love all things Indiana and it cost me under $70. Real confused with what to do with this kind of stuff. Also, old worn out Barber and the like coinage is now worth more in silver than in its numismatic value. It just feels weird dumping all of this stuff but smart at the same time. Am I the only one torn at this point?

Comments

  • TheBigBTheBigB Posts: 942 ✭
    I can't get sentimental about all this stuff anymore, into the melter it goes. Think of it as recycling, very hip and green.
  • 291fifth291fifth Posts: 24,709 ✭✭✭✭✭
    Forget about sentiment unless it is something very special. Melt-em, Danno!

    I've already disposed of most of my silver medals and I'm glad the bullion market bailed me out.
    All glory is fleeting.
  • MsMorrisineMsMorrisine Posts: 36,010 ✭✭✭✭✭
    sell them to collectors for melt.
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • GrumpyEdGrumpyEd Posts: 4,749 ✭✭✭
    It's a good time to unload that stuff.

    It does feel funny to sell the "neat stuff" or circ 90% you put in folders or even unc common stuff but none of it seems worth keeping.
    At the coin show we were joking that the "good-bad-ugly" is all worth the same melt.
    Ed
  • llafoellafoe Posts: 7,220 ✭✭


    << <i>What do you do with numismatic items like medals that are now worth more in silver than as a collectors item? For example, I have a .999 fine silver Indiana Bi-Centennial Medal that weighs almost 5 oz in pure silver. I bought it because I love all things Indiana and it cost me under $70. Real confused with what to do with this kind of stuff. Also, old worn out Barber and the like coinage is now worth more in silver than in its numismatic value. It just feels weird dumping all of this stuff but smart at the same time. Am I the only one torn at this point? >>



    Ummm... I'm from Indiana... do you love me? image
    WANTED: Cincinnati Reds TEAM Cards
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭


    << <i>What do you do with numismatic items like medals that are now worth more in silver than as a collectors item? For example, I have a .999 fine silver Indiana Bi-Centennial Medal that weighs almost 5 oz in pure silver. I bought it because I love all things Indiana and it cost me under $70. Real confused with what to do with this kind of stuff. Also, old worn out Barber and the like coinage is now worth more in silver than in its numismatic value. It just feels weird dumping all of this stuff but smart at the same time. Am I the only one torn at this point? >>

    If you don't really need the money, just forget about it and keep it as your collectible.

    I mean, you did buy it because you wanted it right?

    Well, now its worth more than what you paid for it so just be happy with that!
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • SpiffSpiff Posts: 102


    << <i>What do you do with numismatic items like medals that are now worth more in silver than as a collectors item? For example, I have a .999 fine silver Indiana Bi-Centennial Medal that weighs almost 5 oz in pure silver. I bought it because I love all things Indiana and it cost me under $70. Real confused with what to do with this kind of stuff. Also, old worn out Barber and the like coinage is now worth more in silver than in its numismatic value. It just feels weird dumping all of this stuff but smart at the same time. Am I the only one torn at this point? >>



    Sell it to me LOL.. So let me get this straight you want to sell your silver NOW????? because prices are climbing??? Sell it to me for under spot since it's just silver LOL.. No seriously...
    I thought you guys in the numismatic hobby would be more in tune with what's happening with gold and silver prices LOL.. You want advice.. Don't be a fool and sell it.. It will be the only thing with real value very soon but if you really want to sell it send some pics and I might buy them..
  • pursuitoflibertypursuitofliberty Posts: 7,332 ✭✭✭✭✭
    Joe,

    I understand your dilema. Actually, I'm having much the same thoughts as I continue to collect while watching the PM prices soar with one eye, and the dollar drop in the other.

    What about that roll of decent Unc 54-S Roosies I bought for $25. years ago, or that $9. in misc Face I took in trade on a $100. coin and never sold to my local dealer, or those Eagles I kept from the 90's? Even a couple of cool 1 oz medals I bought at a premium when silver traded south of $10.? Another $30. or so in face of late 40's and early 50's Choice Unc's I bought that now I value at face as I spent about 15x face average and probably wouldn't get more than a 15% premium on if I sold them one at a time.

    First, do I still want to keep them? Some, all, none? And if not, what would I buy with the money, or would I just take it out of my collection altogether?

    Not sure I know the answer. I've culled some of the pile a bit, but I haven't decided if I want to leave it in and try to upgrade to more numismatically appreciable pieces, or keep it as some other type of bullion indexed collectable (maybe even a few more better dates that are starting to trade at only a 10-15% over melt). I don't really need the money, or I'd just take it out altogether.

    If you know the answer, let me know. Just thought I'd say I'm pretty sure you aren't alone in your thoughts.

    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
  • CoulportCoulport Posts: 1,087 ✭✭✭
    I gave up repricing common silver coins each week. Now I have no prices listed on the 2X2 just a minum price on the stated on the ring binder holding the coins.

    Also talked to a shop owner who dabbles in many things. He stated that sterling tea sets and other such items have melt value 3X the catalog price and no one wants to pay that so off they go the refinery.

    It will only get more hectic.
    The most money I made are on coins I haven't sold.

    Got quoins?
  • AMRCAMRC Posts: 4,280 ✭✭✭✭✭
    Every week more and more stuff goes off to my buyers. The last batch of 90% had plenty of Barber Half Dollars. The premium is just not there anymore and it would be foolish not to take advantage of these prices. Bulls make money, Bears make money, and pigs get slautered.
    MLAeBayNumismatics: "The greatest hobby in the world!"
  • lkeigwinlkeigwin Posts: 16,893 ✭✭✭✭✭
    I figure if it's worth more as melt then it isn't a collectible worthy of saving.

    Really, the hobby isn't going to miss the junk or even the "decent" silver minted by the many millions.
    Lance.
    Coin Photography Services / Everyman Registry set / BHNC #213
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    many collectors are confused about what to do in a case like this, but i have a solution...........................keep the stuff and eventually Silver will fall back down and they will have more Numismatic value than Silver value. not the smartest thing to consider, but it is an option.
  • JulianJulian Posts: 3,370 ✭✭✭


    << <i>

    << <i>What do you do with numismatic items like medals that are now worth more in silver than as a collectors item? For example, I have a .999 fine silver Indiana Bi-Centennial Medal that weighs almost 5 oz in pure silver. I bought it because I love all things Indiana and it cost me under $70. Real confused with what to do with this kind of stuff. Also, old worn out Barber and the like coinage is now worth more in silver than in its numismatic value. It just feels weird dumping all of this stuff but smart at the same time. Am I the only one torn at this point? >>

    If you don't really need the money, just forget about it and keep it as your collectible.

    I mean, you did buy it because you wanted it right?

    Well, now its worth more than what you paid for it so just be happy with that! >>



    image
    PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows.
    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
  • CaptHenwayCaptHenway Posts: 32,788 ✭✭✭✭✭
    If you NEED the money, sell it.
    If you do not need the money, why sell it?
    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.
  • scottgardenerscottgardener Posts: 1,205 ✭
    I think we're seeing a bubble, likely to break later this year, when economic policy goes from competing partisan proposals to somethng officially signed into law. I have no idea where it will land after reentry, but I think we are still climbing to higher orbit right now. Can you hear me, Major Tom?
    Improperly Cleaned, Our passion for numismatics is Genuine! Now featuring correct spelling.
  • ambro51ambro51 Posts: 13,949 ✭✭✭✭✭
    Im seriously looking at the remnants of my grandmothers old circulation whitmans.......years (1980) I took a lot of the more common stuff out and sold it, left eh D and S quarters etc..but now, this is just old circ stuff most has been cleaned and is yellow and ugly...2 full folders of circ picked roosevelts.....all in all about a grand in current silver.

    sell? I dont really need the value but realistically NO ONE is collecting old worn VG washington quarters and never will be.
  • OPAOPA Posts: 17,143 ✭✭✭✭✭


    << <i>If you NEED the money, sell it.
    If you do not need the money, why sell it? >>



    If you NEED the money, sell it.
    If you don't need the money, SELL it. Never look a gift horse in the mouth. It's bullion with only a marginal numismatic value.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."

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