Discussion in 'Coin Chat' started by Luke1988, Sep 6, 2010.
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To the OP, you would see most coins hitting the melt bags except for sure keys. I would empty my albums saving just the really rare coins, selling the rest.
I had a great time in the late eighties buying bulk silver bags and getting semi keys, barbers, etc that were jettisoned in 1980 and by then were worth just fractions in melt value. Most of my low grade barbers, semi key Washington quarters, etc were acquired at bullion value this way.
Do you think a common date Roosevelt is worth $1.30 numismatically? Or $7 for a common date Walker slicky?
I don't know what the exact figure would be, but the catablog value of 90% of post 1940 silver coins has absolutely nothing to do with numismatic value.
Many common dates of all grades would be melted too and perhaps no longer be considered common. TC
When prices rise, all coins except for rare ones become bullion. When the bottom drops out, "better" coins such as walking liberty halves, AG barbers and SL coins, mercury dimes, etc become more expensive since there is more of a numismatic demand for them than washington quarters, franklin dimes, etc.
I don't think there is much to worry about true melting this time. I hear junk silver bags are hot and commanding premiums right now, according to NN. I think most of the coins will survive, they will be in junk silver bags and invested in that way.
To the OP, another side effect of PM's dropping is that dealers have less cash around to spend, so the market for collector coins could get tight, meaning less cash around to purchase them, leading to lower prices. Truly desirable coins aren't tied to bullion values, though, and should keep their values long term.
Bags are popular now but if silver go's that high people will be less willing to buy old warn coins since they have less silver and every bit counts at that point. I don't think silver will dip that low, $5 silver and $250 gold are like .99 cent gasoline.. we will never see those prices again.
Spoken like a prophet. We won`t see silver go under $15 ever again. As for the junk bags, We are seeing people start to purchase more of them, but eventually I think people will have them melted as silver continues to rise. In order for the junk silver to rise on a numismatic level would have to require a frenzy of "junk melting," which might eventually happen. But from a bullion investors perspective, We usually don`t care about holding junk silver in the hopes that its numismatic value rises.....It`s all about the spot value. From a personal standpoint, I don`t invest too much in sterling....junk silver can take up far too much space......make mine pure.
Whew! EVER again for $15 silver when just a while ago it was about $10? You must really be certain in your prediction. I wouldn't say EVER again on something that happened so recently, not of something that over 700,000,000 ounces were mined last year, for the 7th straight increase, and something that emotions are playing such a part of its price right now.
You very well could be right, but to say never....not me.
I don't think the Hunts made a "Mistake". After the Congressional Hearings, it could not be determined exactly how much the Hunts made.....or lost. I truly feel, they pulled the biggest coup and tax dodge ever. Remember, they were shipping thousands of metric tons of silver to Sweden that was purchased for $2 an ounce. They were able to write off the one oil company and declare a huge loss, exempting them from capital gains taxation on other enterprises.
Anyway you figure it, I believe it was the result of careful planning and market manipulation never before seen on that scale.
OK, you could be right. I just remember the holdings they had to sell off because of their declared losses on the trades when the market collapsed. You probably read more about it than I, I just remember the day they couldn't make their margin call and the price collapsed. Exciting times!
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