Future Bullion Folks

I too could not see destroying a coin but maybe common dates will become scarcer and more valuable in the future

 

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Curiously interested Wash. Qtr man...how many do you have and why 1964-P in particular...?

 

I have plenty
I just mentioned it since it is the largest mintage of silver quarters.

 

Honestly who cares, I know that sounds harsh but they're going to be doing the same thing with common "modern" things.

It's a funny cycle that always repeats, moderns are trash then moderns become classics then people say how could someone do that to history while they chuck modern change who knows where ignoring people a century from them will say the same about them

Like mentioned too not everything is actually melted. If anything melting out some of the glut is actually probably a healthy thing for the market

 

It's illegal to melt copper coins. Silver is ok

 

I agree. We make more "junk" silver every year. When silver got above $35 I remember coin shows having overflowing garbage cans of mint plastic people were cracking up to throw the silver coin contents into junk silver bags. A lot of modern coins are now in junk silver piles. I have bought for melt price modern coins for my kids, stuff like silver proof sets, 1980-1990's era silver dollars, etc. Not to mention ASEs and other modern silver is effectively junk silver that we are making millions of examples a year of. I have tons of ASEs in my silver junk pile, and whomever I sell it to I really do not care if they do melt it down. There are way too many for any collectors of them out there.

 

Just pennies really and I guess technically large cents though I doubt anyone would ever charge you for that

 

It's kinda fun when you think about how a morgan has almost certainly been turned into a modern product at some point. But yea anytime things are only worth melt it literally means everyone has assigned absolutely no value to them as they would be valued the same no matter what they were

 

Nickels too or can u smelt them

 

what does it cost to buy a smelter and enough propane...not worth it

 

Not all coin dealers do this to silver. You'll find small boxes of pre-65 junk sitting right next to some Morgans in the display case at a few of ours on the west coast. Back when silver was mid-30's our shops still bought and sold junk silver from others. I forget what kind of markups though. I'm in a small town and my local dealers will take the time to sell them to the next customer.

It's possible that the latest issue with covid has decreased overall customer flow and so some dealers may want to flip certain items quicker. That's just a theory.

 

They’re illegal too, was kind of silly though as with the composition smelters wouldn’t have wanted them anyways

 

Who would melt these? The shop I frequented commonly would have a box filled with 300 of these in that general grade range, with maybe 50 of them over XF with luster.

 

I was reffering to this part of furrys post,those dimes of mine are pretty low grade compared to if I'm reading it right if all his 64 finds are uncirculated.

 

Not all are uncirculated. Most seem to be pretty uncirculated though.

 

Who knew !

 

I never knew this either. Interesting info.

 

I find the interplay between numismatic and junk values interesting. It is not set in stone, but most coins are numismatic valued at low enough silver prices, and most are melt value at high enough silver value. This is easy enough to see on items like g-vf barber coinage. Its also easy to see on 1980's era commemoratives. When I say this, most people say "But Chris, my morgan dollar collection would never be worth melt". Throw down $300 an ounce silver, and most Morgans become worth melt value. Its all a matter of degree and price. On the other extreme, most "junk" becomes numismatically priced if silver drops to $1. Those of course are extremes, but illustrate the point. Every coin unless its priced $500 or more is on this continuum at some point. I like looking around when silver is a little highish and see what is in the junk bags, and if silver drops try to still buy it at melt.

 

Most coin shops have a smelter that stops off at their coin shop at certain time frames like quarterly or monthly. Since nobody wants to waste time or money, I'm sure the LCS has to have a certain amount of weight to interest a smelter company otherwise they'll come around at a later date. My LCS hates selling to a smelter as their profit margin goes way down. Smelter companies make really good money and they also end up with coins, jewelry and whatever else they have picked up.

 

Cool. Be sure to pick out all the Type-B P-mints (1956-64), esp in higher grades...they're worth a bit more dep on condition, etc. 1958 has the second-lowest P-mintage of all the silvers next to the initial 1932, but seems to have an abundance of Type-Bs from the 56-64 T-B years.