Will Silver Coins Melting Occur?

[jackson64]

Silver jumped from $18.01 to almost $19 today...I was wondering about opinions on where it might level off...but what has me curious is what coins are at risk of being melted?...circulated rosies and mercuries for sure...what about AU franklins? Fine grade Walkers?...most have values in the $7-7.50 range which we're about at for a half dollar's silver value...thoughts?...................

[MunkyMan95]

I'm out at $20.

[EZ_E]

I think it was Bill Jones who mentioned many modern gold commemoratives were being melted for bullion. I think lots of the common modern silver dollar commemoratives could follow suit as well and generic, circulated silver coins of the 20th century.

[bsshog40]

Bullion eagles, bars and other bullion-related silver will go into a future melt before the "junk" pre-1964 coins. The irony is that today's silver bullion items are probably fabricated in large part from re-cycled pre-1964 coins melted in the 1980s.

[Coin]

AGEagles produced by the US Mint are made of gold mined in the USofA , by law.

 

(thumbs u

Johnson/Mathey , Engelhard ...maybe...dunno where they get all of their gold and silver , but you can bet it will be what they say it is by weight and fineness stamped on the ingots/bars .

I bought Silver at $6-7/oz and dumped 3/4 of my holding when it broke $15.75 , so I can drop the final 1/4 at anytime .

 

The what if game : If I had sold off the coins , bought gold or platinum...nah ...I'll just dump the silver culls and when I make the final drop . Problem coins are going to the smelter and dateless mercs & Barbers too . That's what you do with those.

[just-john]

last time when it hit $45.00 oz sold my Roosevelt Dines and Washington quarters and worn walking liberty 50 cents pieces and most of the 1921 Morgans kept the winged liberty dimes and all other coins

that were before 1940. bought a house The Good Old Days

[Coin]

before 1940 ? Roosevelts started in '46....meant Merc's? That was way before my time .

I did ride the wave in 1979/80 , but I was only 13 /14 years old , so it was a small wave , but enough peace dollars and worn silver coins in mason jars to give a kid more money than he knew what to do with and had to stand in a long line in the cold on a curb to get into a jeweler's shop that was buying . I remember my mom had her hands full too ....our fingers were blue and numb by the time we made it to the counter . I don't recall if it was before or after Christmas , but it was CCOOLLDDD !

[cladking]

There are still hundreds of thousands of bags of the coins that were in circulation in 1964. These are and will remain the #1 candidates for being destroyed.

 

Collectors and coin dealers tend to be the source for the actual coins that get sent to the smelter so figure "what's available" will be the #2 candidates for destruction. This means things like '63-D half dollar rolls and mint sets and the like.

[just-john]

You can still buy 90%silver $1000.00 face value in dimes for $13,500.00. That would keep you busy with 10,000 dimes to go through.Sometime they have half's or quarters but they charge more

[BULLY]

I have to agree, that collectors KNOW what intrinsic value is vs. melt value.

 

Most collectors (even those who'd melt but have a decent "eye") would pull out coins worth saving.

 

Do I yet anticipate a rush to melt to all down? No.

 

However, some "junk" coins could be worth melting. Back in 1999, prior to the "Y2K Scare" (Does everyone remember the calamity that wasn't!!!!!?!?!?!?!?!?!?!?!!)

 

Well, back during the Y2K Scare, there were those who though our currency could end up devalued, even worthless. There were those who thought there would be no lights, no computers, no gas pumps, no way to fill your prescriptions, etc.

 

So, what did people do? They hoarded money (in case cash had value, for those who had any of it). but others hoarded precious metals, like silver. Silver was A LOT cheaper back in 1999.

 

The notion of hoarding silver coins was multi-fold:

 

1. You MIGHT get something collectible

2. Even if it WASN'T collectible, it was, in fact, MONEY which could be spent.

3. It had the INTRINSIC value of a noble metal.

 

I happen to have a few pounds of those "junk coins" locked in a safe deposit box. I pulled out anything obviously note.