Hypothetical question

If silver went up to 48 dollars an ounce like it did in 1980, would you sell your MS-70 silver state quarters, graded MS-69 Eagles, Morgans, Peace, graded Walkers, and Franklins, and other high quality silver, knowing they were all going to be melted down?

Would it be worth it for you?

 

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When silver was at it's peak back then, I sold my 1oz silver "art" bars that I paid $3 each for and could get ONLY $39 each even though silver was about $50. I kept ONE. Should have sold it too.

I know this isn't exactly your question, but who knows if it gets that high again that it will come back down.

 

This isn't my profession so I don't make any attempt to "buy low, sell high"...I just buy, buy, buy!

However, with silver at $48/oz...I would definately think about selling off any undesirable sterling. That's why I don't think silver will stay that high for long...there's a S-LOAD of silver sitting around in people's homes.

 

I would probably sell my remaining old bulk silver coins and common duplicates, but not those graded or those which would break up a collection.

 

I doubt that I would. My reasoning is what would I spend the money on? Probably more coins, and at the higher cost. So there isn't any point for me to.
Guy~

 

Interesting Question. One of my safety deposits is full of silver that will never have any value over melt but I have never been able to make myself sell a coin.

 

i would not sell my peace dollar collection. but if i had some ase, i would sell them.

 

Depends on the coin I always thought silver coins went for melt value + numismatic demanded price. If it was an 1878 DMPL CC certainly not, but I would not think twice on a common morgan or some junk silver, but not the stuff that is truly that rare

 

My high end stuff would not be sold but commons and stuff would be gone.
But btw I dont think it would be melted...

 

I would only sell some of my very common circulated coins.

 

I would only sell junk coins, nothing with any potential numismatic value.

Regards,
Stan

 

I will never sell my coins unless I can get enough money to retire or have my child never work a day in his life.

 

I suspect the real coin dealing Pros wouldn't have any problem turning over their inventory at the right price.

 

No, I probably wouldn't do that sort of thing because the graded coins deserve a better fate than melt. That sort of thing is usually reserved for 'junk" or "bullion". It would be a sad day indeed if one had to "crack' out their graded coins to sell for mere melt. Sad indeed....

 

I like hypothetical questions, but from experience I have found what I actually do sometimes is different than what I think I would do. I do not have a bunch of slabbed coins so like others If I sold anything it would probably be doubles of circulated common coins.

 

Do you really think that would be a good idea?
What comes of children that never have to work a day in their lives?

 

I would ensure they receive the best education so hopefully they can leverage their money in ways that they don't have to [traditionally] do what's defined as work!

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As far as the melt question goes, I had this conversation with someone just yesterday. I think a lot of folks would sell. I probably wouldn't. But some percentage of those coins sold for melt would disappear all together; less for numismatists.

I think eventually (though definitely not anytime soon), if society doesn't do itself in during the meantime, [metallic] coins will probably disappear all together from circulation. After all, what's issued now is only fiat anyways.

 

I share green's thought on this. Also, it depends on the ascent. Are we talking silver goes to $50 this year? Or are we talking it slowly trickles up there over the next 10 years? If we are talking the slow ascent, I don't think they will be melted. If the rapid ascent, something dreadful has happened and silver is needed badly. I'd sell my junk silver instantly in the rapid ascent scenario. In the slow ascent, I'd be willing to think silver can keep going higher. The rapid ascent is sure to be followed by a rapid descent.

 

I was thinking the same thing Duke.

Children who never actually need to work usually take one of two paths...

1) A wasted life of drugs and endless parties.
2) A life of volunteer work helping those less fortunate.

Personally I like working (well, sometimes) as I like the feeling at the end of the day that I have made a small difference. Granted, there are days that you just want to end, but there are others when you have actuaklly accomplished something.

I have provided my two kids with college educations at the nations best universities but it's up to them to use this advantage to find meaningful employment.

 

I would dump my 500 1 oz bars but nothing else..... Wait !!! would this be reported income ???? Then only 50 bars......