Future Bullion Folks

semi numi is one of the reasons I like walkers, merc and morgans. when the price makes sense to me.

 

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A ton of silver coins were melted during the 79/80 run up.
A friend of mine rescued 6 bags of Morgan and 3 bags of
Peace dollars. All BU and different dates. The 81-S, 83-O
and 85-O bags were amazing. I traded out what I thought were
the 10 best from those 3 bags. They were beauties.

 

Do VF-XF common date Peace Dollars count as “junk silver”?

 

Not in my book.

 

Any reason why you say that?

I always assumed all 90% silver coins without numismatic value were considered “junk silver”.

 

Well.... Just me really. Average date Peace dollars value are driven by the spot prices so by right I suppose you would be correct to call them junk silver.

 

So do you think dealers usually will pay only spot for them?

I’m just asking because I bought 26 Peace Dollars a few months ago and was considering selling 5-6 of them to buy a coin I’m interested in.

 

I think a dealer is obligated to pay below spot for them. He has to keep his place open.

 

I understand that but I figured usually they charge over spot for them so they could still make money.

Spot right now is about $25/oz and a Peace Dollar is 0.77 oz. That means a Peace Dollar has $19.25 in spot silver value.

Well if a dealer buys them for $19.25 and resells them for $25 each he/she still makes $5.75 per Peace Dollar sold which is over 20% profits!

That is a pretty good profit margin.

 

obviously you get a lot more silver buying dimes, quarters and halves. Junk Morgan and Peace are kind of their own category

 

i am willing to bet all us silver coins dated 1960-1964, and kennedy's 65-70 are more rare than people think, back in the 80's whence the hunt bros. were at it, a very large amount were melted, and still going on today...

 

I agree with your conclusion.

 

There are more 1964 JFKs out there than you might think. People hoarded them. That's why there are so many in Mint State condition.

 

meant the dimes, quarters...those were melted by the truckloads...agree on the halves..

 

yeah and some of you collect barrels of nickels

 

not me my friend, though Canadian nickels are pure nickel and worth the gamble (perhaps) and there is that feller out west with 10 million dollars in lincoln cents, he actually employees people to search for errors and wheat s and such, and he has been campaigning to allow melt of cents in us

 

one article, cannot find the dude with 10 million yet..lol


https://abcnews.go.com/Business/laws-change-penny-hoarders-cash-thousands-dollars/story?id=15076522

 

nickel hoarding billionaire:

https://coinweek.com/bullion-report/the-nickel-hoarding-billionaire/

 

...and pre '82 cents!

 

Is there a coin melting book equivalent to the famous book burning novel "Fahrenheit 451"???