It is a sign of how high silver prices are soaring My local coin/antique shop owner said to me today, hey Donn, look at this I am busting State quarter proof sets up because their melt value is worth more than I can sell them. I am curious if dealers everywhere are going to start liquidating their non selling silver proof sets with silver going so high?
I think many dealers like the one I most often frequent adjust their prices daily during a silver bull market like the one we are currently in. It seems foolish to me to break up all of the sets because of a trend, but then again I am partial to mint and proof sets.
These folks gotta make the "moves" to keep the lights on. Sad as it is to hear, it's a daily occurrence.
The good news to us who already own them is that down the road these may be difficult to find intact. Then they'll be worth mucho dinero...or not.
I recently saw hundreds of 2002 and 2007 silver proof sets broken up at a local coin show. It's happening a lot.
There will likely be alot of silver melted in this run-up. No one wants to get caught holding the bag when the price drops.
Good news indeed for us guys who own the "intact" sets.....that is, if there's any real demand for them in the future.
so coins are getting melted big time now ? I thought buyers/ speculators just kept the coins bagged ?
My shop owner was bagging them to ship to the smelter and his henchman was dinging them roughly as they fell into the bag,,,LOL
