If you would read my opening thread in regards to the price of Silver, I posed the question on how would the rise of Silver affect the price of Silver Proof coins. I am not quite sure how most got off the track. One post even said we need to keep it related to the coin market. How was the opening thred not related to the coin market????????????????// BWJR
So, let's just keep this thread on topic. I don't think the current changes in silver price will affect the silver proof sets very much. Their values are mostly way beyond their melt values, so I expect only a small impact there. I do expect it to increase the value of complete circulated sets of Franklins, Walker Halves, Peace dollars, Washington quarters (the silver ones of course), Roosevelt Dimes (silver ones again) and Mercury Dimes. I was able to complete those sets and only had to purchase a handful of coins at any significant premium over their silver value. These sets contain a pretty good number of coins that in circulated grades are classified as junk silver and their prices are directly tied to their bullion values.
I do hope that you are right CT over here in the UK the mint has put it's prices up at the bigining of the year due to the rising cost of silver I dont have many US commems (As of yet) but do have a number of other US silver those I do I buy I normaly buy on Ebay mainly, do you think that I will find less available or will people continue to sell on ebay instead of going for the melt option? De Orc :kewl:
At the rate in which non-collectors turn over coins classed as junk silver, the silver price may start to decline. Of course, at that point the loss to the collecting community is lost forever. One thing i dont think collectors and non-collecters alike dont think of is those coins, which may be junk to them with either their high grade collection or lack of coin collecting knowledge - is that those low grade silver coins may be just the coin to get a beginner started. So dont melt them down, cash them in to a dealer who will resell them or sell them on Ebay. Either way, you will still get the value of the silver inthe coin, and them maybe a little numismatic value on top. I cringe at the thought of how many millions of coins are melted just for the metal content each time the value of that particular metal increases. :headbang: True there may be millions of low grade Franklins or Walking libertys, but if we melt them all down, who wants to start a collection by colleting only high grade coins? Didnt we all start with a few 'junk' coins and move up from there? The fewer low grade coins to go around could just end up hurting the hoby a bit. Just my 2¢ worth :whistle:
All of these new mint designs are very attractive to newbies. In this regard the mint is helping the hobby.
Daggarjon, I agree with most of what you said. I have coins from MS69 to G and I like them all, in different ways. I think I'll always be a fan of collecting circulated silver dollar and half dollar coins even if they are "junk" to the serious collectors. The difficulty in finding inexpensive silver coins probably keeps at least some potential new collectors away from the hobby. Maybe the recent design changes will be enough to attract people, but I prefer silver coins. I don't think coin melting will have much of an impact on silver prices since the deficit is tens of millions of ounces annually.
silver mild corrected silver after hitting new high @$10.31. currently is about $10.00. which is not bad. it seems to me that silver is still strong and may continue to move upward. i also noticed that the percentage gap between gold and silver is becoming closer. now stand at 55.5 to 1.
Do you not consider yourself to be a serious collector? I do for myself. I may have different ideas then others, and certainly smaller bankrolls then some, but i dont think that seperates the 'serious' from the non serious ... But i see you point dd:
not for sale so far i still keep buying. i only sold to dealer once in 1995. i sold 50 pcs of 1988 am eagle silver proof @ $60.00. others, modern or antique, i never sell any. maybe when i retire. i also think i am a collector. i also collect model train and plane, stamps, and microphone.
In my experience,I can be happy with a fine or better coin initially : but when the chance presents itself I am always anxious to trade up if I can afford it to a higher grade especially if a collector is trading coin for coin/coins with me.This is the best of both worlds when cash plays a minor or no role in the transaction.
