I have come upon a box of 4 tubes of silver peace dollars (20 coins in each tube). Each tube is marked, '1922 P MS60'. Would someone tell me please if these go in the bullion stack, or are they considered numismatic? In other words, do I treat them differently than tubes of coins that are not marked that way, like just plain eagles or krugerrands or something? Those I know to consider as bullion. Perhaps it makes no difference? Thank you in advance. Lucy
Collectors of Peace Dollars would lose sleep knowing 80 uncirculated Peace Dollars were summarily sent to the "bullion stack" with the possibility of being melted for their silver content before they (the Peace Dollar collectors) could check the coins for possible valuable VAMs.
They are defiantly numismatic in that grade and should not be sold for melt. Even low grade common peace dollars sell for a few dollars over melt
What is a "VAM"? And by the way, are any tubes of coins (gold for instance) ever checked that way, too? I mean, wouldn't someone already have looked at them all, before selling them to us? (More than 15 years ago..) Sheesh! What about bags of circulated Morgans, do I need to be careful with them too? Kicking and screaming all the way, I suppose I'll have to learn about all of it... So much to be aware of.. Thanks for your response. Lucy
I actually enjoy the fact that every time silver spikes millions of Roosevelts are melted. That means every time silver spikes my collection becomes rarer. But I do get your point.
Very good. They are and have been in a dry place the whole time. Found 'em like a Christmas present today, right under my nose the whole time! Something else my husband purchased, put away, with no directions.. I've found a few others that I'll ask about after I search the internet (so far brick walls.) Thank you for both of your posts. Lucy
Forgive my ignorance, buy why would 'millions of Roosevelts' be melted? I mean, what is it that it gets melted for? Somehow, I just 'thought' that coins kept moving around from owner to owner.. but you say they melt them. To what end?
There's little reason to melt U.S. silver coinage. Silver is silver. 90% silver coins could be melted legally and converted to bars or rounds but it's still silver. The value is based on spot price so there's not much to gain. Silver dollars always bring a numismatic premium unless they're damaged or worn beyond recognition (culls). If your Peace Dollars are truly uncirculated, they would be worth $25/ea at a minimum.
Are you sure about that? I know that it is currently illegal to melt Cent and Nickels in the US but I don't think that law applies to non-current silver coinage.
It isn't illegal. This article from nearly 12 years ago seems particularly fitting for our times, enjoy. http://www.pcgs.com/articles/article496.chtml
Hobo I believe you are correct the melt ban for silver was lifted in May of 1969 if I remember correctly. The prohibitions contained in the new rule by the Secretary of the Treasury apply only to 5-cent and one-cent coins. http://www.federalregister.gov/arti...g-or-treatment-of-5cent-and-onecent-coins#p-6
My mistake, I was wrong. The current law applies only to one and five cent pieces. I corrected my post.
Thank you all; numismatic and I will treat them accordingly. Ignorance is NOT always bliss.. Enjoy the weekend. Lucy
Here a link that I believe will explain the meaning of VAM to you (die variety). http://www.pcgs.com/articles/article2073.chtml Here one more link that maybe helpful http://www.vamlink.com/VAM_Articles...c05ee09a7dc8505fe8b9027&article=What_is_a_VAM
Van Allen-Morris I read the first link, which suggests further reading. Thank you very much for answering the Q.
