"Altered" coins

Hey ! I'm just here to say , Hello and Welcome .

 

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Well, we'll know in a few minutes, lol.

 

You're needed in your 1921 Cent thread. We need closeups of the wheat stalks.

 

@Matthew Kruse: Hypothetically, what would you offer for all five, holes included?

 

@potty dollar 1878: Yup. On the reverse, near the rim about 7 0'clock, above the eagle's tail. But I guess that does me no good.

 

EDIT!! A NO-N0. You can not do offers-sales in any forum other than
the CLASSIFIED For Sale ,, etc. forums.

 

@Matthew Kruse Thank you for that, Matthew. I have to say that this is all so new to me I'm not sure what I want to do with any of the coins I need to organize. But, please tell me, how is melt value computed? I see that the silver spot price yesterday was $26.70. What are the factors that contribute to melt value being less than Spot Price? Sorry for my ignorance. I'm trying to learn how all this works.

 

Absolutely DO NOT DO IT.

It will scratch up the coin, and if there are any hard particles on the surface, it will make giant scratches.

 

Melt value is based on a variety of different reasons. I am probably not the best person to tell you but its pretty much just supply and demand. For example, when people discovered that silver can be used in electronics and such, the price rose a whole lot. Something other factors that influence silver prices are inflation and economic changes. If there is inflation because of the government printing to much money, the value of the currency goes down, hence people will want to have silver and gold instead of cash. This causes an increase in gold and silver prices. Again, I'm not an expert on this at all but that is just what I understand about it.

 

Melt and spot are the same thing really. Morgan's and peace dollars have .77244 oz. of pure silver or ASW.

 

Don't try to remove the Morgan from the Buick encasement, it is actually worth more that way. There are collectors of encasements. If you were to remove it you would find that the coin itself is already damaged from the encasement process.

Encasements are made by putting the coin into a close fitting blank ring of metal and then using dies with a central hole to strike the ring just in the same way that coins are struck. The metal of the ring tries to expand outward against a close collar, but it also expands inward and presses against the edge of the coin with great force. This "locks" the two pieces together and actually deforms the edge of the coin into a slight concave which holds the two pieces together even more so. In some case the hole in the die will be slightly smaller than the diameter of the coin so it presses against both the rim of the coin and the edge of the ring creating an even tight bond between the two.

If you were to force the coin out of the ring or cut the ring away you would find the edge, and possibly the rim, of the coin would show damage greatly reducing any numismatic value