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<p>[QUOTE=&quot;physics-fan3.14, post: 13441138, member: 19165&quot;]I view melt-value as an absolute bottom. The coin weighs a certain amount, and, per the amount of metal, it&#039;s worth this much. It doesn&#039;t matter how mangled, scraped, mutilated it is... 100 grams of gold is worth 100 grams of gold, assuming it&#039;s the correct weight/purity of gold. </p><p><br /></p><p>The numismatic value is the premium on top of that. A pristine MS-61 is going to be worth less than an MS-62. A cleaned UNC is going to be worth less than that. And AU is going to be worth less than that. </p><p><br /></p><p>The intrinsic value will never change - it&#039;s based on the pure weight of silver or gold. The numismatic value will change based on the condition or date/mintmark of the coin. </p><p><br /></p><p>Now.... your question applies to a coin where the numismatic value far exceeds the intrinsic value of the coin. For a coin like the Morgan above... melt value is in the $15-$20 range, depending on where silver is. Almost all of the value is numismatic. When you have a coin with a melt value of $20, and a numismatic value of $300.... there&#039;s a lot more play. And yes, for something like this, where almost all of the value of the coin is numismatic... 50% is a pretty good rule.[/QUOTE]</p><p><br /></p>

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