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The great coin melts effect on coin totals.
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<p>[QUOTE="cladking, post: 1368412, member: 68"]Coins have been made debased and underweight for millinea. This is hardly a problem with US coins but there are many heavily worn US coins and these are light. Many buyers don't care if these underweight coins are scarce date seated liberty; they just want full weight. </p><p><br /></p><p>There's another factor as well and that is that most investors desire 999 bars and the ETF's require 999 1000 OZt bars. The major reason is that it's easier to trust that bars are real silver and a secondary reason is that they require less storage room. </p><p><br /></p><p>Common US silver will not become scarce anytime soon. These are melted because there aren't nearly enough collectors to absorb the large amounts of these coins. While AU/ U walkers might get pulled out on the way to being melted there are lots of bunches of coins that don't really get screened at all. Everything that comes in gets shipped right off. The refiners usually don't have time to save much of anything. If people sell it for scrap prices then there's a good chance it willbe melted as scrap. Of course this doesn't apply to the stuff the motel buyers steal. They will obviously pull out easily sold coins.[/QUOTE]</p><p><br /></p>
[QUOTE="cladking, post: 1368412, member: 68"]Coins have been made debased and underweight for millinea. This is hardly a problem with US coins but there are many heavily worn US coins and these are light. Many buyers don't care if these underweight coins are scarce date seated liberty; they just want full weight. There's another factor as well and that is that most investors desire 999 bars and the ETF's require 999 1000 OZt bars. The major reason is that it's easier to trust that bars are real silver and a secondary reason is that they require less storage room. Common US silver will not become scarce anytime soon. These are melted because there aren't nearly enough collectors to absorb the large amounts of these coins. While AU/ U walkers might get pulled out on the way to being melted there are lots of bunches of coins that don't really get screened at all. Everything that comes in gets shipped right off. The refiners usually don't have time to save much of anything. If people sell it for scrap prices then there's a good chance it willbe melted as scrap. Of course this doesn't apply to the stuff the motel buyers steal. They will obviously pull out easily sold coins.[/QUOTE]
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