SJM III's Journal

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GOOD NEWS .....OR BAD?

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SJM III

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AS THE PRICE OF SILVER AND GOLD CONTINUES ON THE INCREASE, HOW LONG BEFORE COINS START DISSAPPEARING FOR THERE MELT VALUE???

Now, I know that collectors are not going to have their high end coins melted down. But what about those who have a hoard of coins stashed away that were collected in a jar over the years. Or those who were handed down a cigar box of coins and have no idea that a rare/collectable coin may be included. I really get concerned when metal prices skyrocket. I just know that for 100, 500 or 1000 coins that will dissappear, at least one should have gone to a collector. Many a circulated silver dollar is worth less than today's melt value.

Many coins dissappeared the last time silver and gold went way up. I know people who sold their silver sets for melt value because the metal was worth more than the set.

Of course, this could be great for the investors who already have a collection. But those who are just starting out will not be able to locate inexpensive coins. The older coins will definitely be more difficult to locate. No more picking through a bunch of circulated coins. No more surprises.

It won't be long before I take my bag of low grade silver Mercury's in to sell. (Just kidding!) As a collector, I do not have it in me to destroy these beautiful coins. Even though they are not rare or worth much, some newbe will have a fun time going through them someday in the future!

I am through venting! I just wanted everyone to think a few minutes about how the rising price of metals is going to effect us long term! And, those who will someday collect the coins we leave behind!

 

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