Here I am sitting in my chair thinking what if silver goes 50+ per ounce? Like they (the pros) say. What do i do with all my cull or close to cull coins. I started the hobby loving coins and still buy for the beuty and not the content. However I'm not a fool. What do i do with my semi key coins for example 1921 Peace. I bought a few of these coins years ago as fillers and I have since upgraded. So what do i do if silver goes beyond the value of this coin? If i get rid of them will whoever melts them down, if they do at all keep records of what years and mint were melted down?
Records generally aren't kept when coins are melted. Just because you sell a coin for melt or scrap silver, doesn't mean it will be melted. I'm sure there are bags of scrap coins out there that have changed hands hundreds of times without actually going into the melting pot.
don't hold your breath. Also ignore the hobo, give ME the 1921 peace dollars, I've only got one, a VF.
Sorry, I was going to say something but then I realized it would be better if I kept my mouth closed.
How can the value of the silver in the coin be more than the value of the coin ? As silver rises, so does the value of the coin. Coins which are worth only melt rise in value as silver rises. And coins which are worth more than melt also rise. The 1921 Peace will almost certainly always be worth much more than melt, because it will always be much more desirable than the lowest Peace melters. I sincerely doubt silver is going to $50/oz. The "expert pros" are trying to sell you some silver.
In the economic crisis of 1980 I think silver hit a high of $49.45 per troy ounce. I was 15 years old and remember mom and dad worring about inflation and making ends meet. The only highlight of that year was watching the USA Hockey team defeating the Soviet Union and eventually Finland for the gold medal at Lake Placid NY. The USA team was consisted of college and amateur players while the Soviets had seasoned players accustomed to beating US NHL teams on a regular basis. Olympic restrictions at the time prevented US professional NHL players from competition. It was one of the biggest upsets in sports history. GO USA!!
WHEN silver goes to $50, it will probably be a good idea to figure out why it is at $50 before selling. It might pay to keep them or trade them for something else you want. Selling for cash may or may not be a wise decision depending on a lot of variables that can't be known until it happens.
Well silver is starting to go up again it's at 11.28 per ounce right now. I do believe it will keep increasing if it makes the 20 mark then it;s very possible this time it will go up to 50 bucks and ounce. What that just means all your silver coins are worth more inspit of what date they are, even if there not key dates. Jazzcoins Joe
At $50 an ounce, I am a seller! And, no no one keeps records of the dates that are melted. Yes, it is a shame, but a bookkeeping nightmare. [mood: still grumpy.]
Wasn't that partially due to manipulation by the Hunt clan ? Somehow, we survived the "crisis" of 1980. And 1987. And 1929. And 1873. And 1837. In fact, we thrive. Just like the planet somehow survived the multiple cycles of global warming and cooling that have happened since before The Dawn of Man.
I dunno about you guys, but I have seen a trend that I don't think is going to stop any time soon. It seems to me that every time silver nears or hits $20, it soon drops to $10. I have seen this happen time and again over the past several years. Gold goes up and down, platinum... well who knows, but silver seems to be like a yo-yo between $10-$20 and I sincerely doubt it will EVER go over $20, but you can count on 1 thing, at $20, I will get off the ride. Maybe you all will offer to buy mine at that price to stay in the game until the magic $50 mark, but you can count me out. just an observation of mine, who knows if it's valid...
The story of the Hunt brothers is very interesting and you can probably find it with google. They weren't manipulating the price of silver as much as they were buying it and taking delivery. Eventually, the exchange authorities declared a "liquidation only" period for the futures exchange that collapsed the silver price and forced a lot of margin calls, including the Hunts.
What if Silver spot goes to 50+? I sell 8 of the 10 Green Monster boxes that I have out in the barn and retire.
I remember that one Harry, only I was a heck of a lot older than 15 (2x) LOL.....It was inspirational.
