To Melt or Not to Melt?

In going through my inherited collection, it seems that there are some coins that are not worth saving for collectible purposes.

I have rolls of common date Mercury and Roosevelt dimes in AG - F condition. Also rolls of common date Washington quarters in G-EF condition. As well, rolls of common date Walking Liberty and Franklin halves in AG-VF condition. In addition rolls of EF-UNC 1964 dimes and Kennedy halves. Lastly, common date Morgans and Peace dollars in AG-G condition.

It seems to me that I might be better served by unloading these to melt and then with the proceeds buying collectible quality coins that I want.

Although a number of the above coins are worth more than melt value according to price guides, it would seem that it the market for most common date coins are for the higher grades. I'm not sure who is going to buy for example, a VF 1942 Mercury dime. And with the quantity of coins in various denominations, it might take a long time to unload them.

Is this a reasonable strategy, or am I missing something?

 

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I think it would be more money to melt it than to just sell them as coins.

 

I don't know about that if you bundle them together and set a reserve price of melt value plus fees on the bay someone will buy them. A newbe coin collector might love to have a 45 merc in vf shape. I bought some at just over melt and you might get a person to start collecting. Ice

 

Advertise as bullion but also mention there are decent dates and some better coins for hole fillers, might add few bucks to the total.

 

Thanks for all of your suggestions..

There's a site for a bullion buyer in California that Cloudsweeper mentioned in one of his posts on another thread. My calculations tell me they pay about 95% of spot. The only other expense would be the freight/insurance to California.

Not so sure I want to fool with E-Bay...too many hassles and I have no intention of being a long term seller or buyer. I'm more of a "coin in hand" kind of guy.

I like the idea of helping young collectors..I could keep some coins aside for this purpose..

I'm in no hurry..I believe it's likely that silver will go up in the next year, so I will probably wait before I do anything.

 

I see that kind of stuff on ebay all the time, and it usually goes for a nice little premium over melt. Just sell in lots of various $10 face value all 90% silver coins, and they will bid...

 

you could do it at sellmycoin.com which has no fees I'm told.

 

PM...Me.....I may be interested

 

Try to sort through them then find a show and

Try to sort through them then find a show and sell them when silver is up to the highest buyer.
Take the ones that are better grades or key, semi-key and set them aside for trade or sell at another time - on the Roosevelt's just sell them for melt.

 

Check ebay prices . . . rolls of generic circulation Merc dimes (or any other silver rolls) sell for more than over melt prices. Last time I checked (a few weeks ago), when melt value was 8.5 times face value, rolls were always going for 10 times face value or more.

 

Actually, I may be interested in some of it too, if you are selling at melt.

pm

 

Yep, I would be interested too.

 

........if it were me, i wouldn't sell, trade or give them away until i FIRST checked all of them against coins in the cherrypickers' guide book. but hey, that's just ME!

 

Off topic: congrats on your 1000th post!

 

I wouldn't melt them down. Here is why. They are worth at minimum their melt value as they currently are. Because they are collectible coins, you might be able to get a bit more for them over melt...maybe or maybe not. But, if you melt them all you get is melt value. So, I think you are better off selling them as is.

 

My collection consists of ONLY 4 Mercury Dimes 41-44. Although I don't concentrate on this particular set, I may in the future. Same goes for Morgan Dollars - I have 2. Please PM me if folks haven't cleaned ya out yet.

rad1964

 

It sounds like you pre-determined that these coins are worth no more than melt value because you are in a hurry. I would guess without seeing the coins that they are worth more than melt as a group, and maybe substantially more. Sure, it may take time and work to unload them, but you may end up with quite a bit more money. Also, depending on who left the coins to you, you may want to hold onto them. Later in life, you may kick yourself for not keeping them.

 

What kind of volume are we talking about? How many rolls of each do you have? Maybe list an inventory of the rolls.

 

Yes I agree I would be willing to buy some. I have a son who is just getting in to collecting and some common date vf coins would be good for him. I wouldn't mind getting some of the Rosie's in silver. Icewater

 

It sounds like a lot of us would like to buy for our kids (and some ourselves)......I guess the next step is yours...