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Coin show vendor said US coins being melted...
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<p>[QUOTE="Conder101, post: 1134198, member: 66"]Because there ARE so many of them. Sure many collectors like the nice worn coin, but there are MANY MANY MANY more "nice worn coins" than there are collectors. So the dealers have the choice of sitting on the coins for a long long time with their money tied up hoping for that extra little bit per coin (and losing money in the meantime on their tied up capital) or sell it to the smelter at a small profit and keep their money turning. (And what happens if silver drops? Now they won't get that $15 per coin and they won't even get the $13.11 the smelter would have paid. It makes more sense to take what you can get rather than gamble on hopefully future profits.) Yes they can bundle the coins into bulk silver lots to sell as a commodity to investors, but the refiners need material for thier operations too and they can also buy those commodity bags as well.</p><p><br /></p><p><br /></p><p>Actually the regulation does exempt the warnickels. I didn't think it did at first but it does.</p><p><br /></p><p><br /></p><p>Yes.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 1134198, member: 66"]Because there ARE so many of them. Sure many collectors like the nice worn coin, but there are MANY MANY MANY more "nice worn coins" than there are collectors. So the dealers have the choice of sitting on the coins for a long long time with their money tied up hoping for that extra little bit per coin (and losing money in the meantime on their tied up capital) or sell it to the smelter at a small profit and keep their money turning. (And what happens if silver drops? Now they won't get that $15 per coin and they won't even get the $13.11 the smelter would have paid. It makes more sense to take what you can get rather than gamble on hopefully future profits.) Yes they can bundle the coins into bulk silver lots to sell as a commodity to investors, but the refiners need material for thier operations too and they can also buy those commodity bags as well. Actually the regulation does exempt the warnickels. I didn't think it did at first but it does. Yes.[/QUOTE]
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