Which coins to exchange, for melt value?

Discussion in 'Coin Chat' started by d7710580, Oct 21, 2018.

  1. d7710580

    d7710580 Member

    Hello all,

    What criteria do you use, to decide, which coins to exchange, for melt value?

    I appreciate your feedback!
     
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  3. Seattlite86

    Seattlite86 Outspoken Member

    So many factors... mintage, year, grade, supply/demand and also my needs. At the end of the day, if someone is willing to pay more than melt for a coin, then I’d sell every coin for more.
     
  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Only criteria I use is Father Time. And at this particular point in time, trading for melt value is something of a losing proposition. Silver is trading quite low currently. Give it a year or so and revisit.
     
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  5. kanga

    kanga 65 Year Collector

    If a coin appears to have no numismatic premium over melt value then it's a candidate for exchange.
     
  6. Ana Silverbell

    Ana Silverbell Well-Known Member

    I agree with Abercrombie: wait a while. Wait for the US and World economies to really heat up, so that the physical demand for commercial silver rises, which should push up the price of silver.

    My arbitrary marker to sell my first round of melt coins is $30 an ounce or higher. Pick your threshold then you can compare numismatic value to melt and decide which coins make sense to send to the coin knacker.

    I also have a few silver coins that I have kept out of my "melt" bag because they have eye appeal to me, fill a hole in a set, or have what I think is an interesting feature or variety. I would not melt those coins even if their numismatic value were below melt.
     
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  7. d7710580

    d7710580 Member

    Thanks to all!
    Looks like my need for spending money came at a bad time, as far as melt value.

    I didn’t realize melt value could be more than numismatic value.

    That said, is bullion value the same thing as melt value?

    As for condition, what grade would end up in your “melt bag”?
     
  8. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Bullion, spot and melt values are all interchangeable terms for the same thing. Plug “spot silver” in the google bar. You will get the option to look at several charts. I like the Kitco chart. It’s easy to understand. You can see what your silver is currently valued at at.
     
  9. TheFinn

    TheFinn Well-Known Member

    I like the kitco site too, but I learned it has a 20 minute delay. The best for current spot prices is www.dillongage.com
     
    Last edited: Oct 22, 2018
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  10. Collecting Nut

    Collecting Nut Borderline Hoarder

    I don't turn in coins for melt. I'm keeping them until I get old and wiser.
     
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  11. d7710580

    d7710580 Member

    Hmm? A 5 year comparison of S&P 500 (green line) vs Silver COMEX appears to show the opposite.

    Silver vs SP 500.png
     
  12. d7710580

    d7710580 Member

    Got it, thanks!
    I've been using CNBC but that appears to be, at least 10 minutes, behind both Kitco and Dillon.
     
  13. Ana Silverbell

    Ana Silverbell Well-Known Member

    Not comparing the stock market with investing in silver. Quantitative easing, corporations buying back their stock equals higher stock market (which smart investors will ride) but does not necessarily mean a growing economy. Silver prices rise in a strong economic market where there is a strong demand for physical silver.
     
  14. d7710580

    d7710580 Member

    Thanks!
    A bit confused... At least, the US stock market and GDP have been solid, if not strong, over those 5 years. That said, what signifies, whether or not US and World economies are strong?

    Correct me, if I'm wrong but it's my understanding that the bullion, spot and/or melt price of metals like gold and silver is determined by trading on the COMEX exchange, which reflects physical demand.
     
  15. Clawcoins

    Clawcoins Damaging Coins Daily

    There are multiple exchange markets around the world which includes: London, Comex, Globex, USA Colorado, Australia, China Exchange, Shanghai Exchange, Tokyo, Switzerland .. and there may be more. If you look at the Kitco charts at the bottom you can see major trading timelines.

    But if you are in the US then the US market is mostly driven by Comex; which is New Silver.
    If you are in a trading floor then it would respective of which floor you are on.

    The economy has been chugging along very well for years.
    Silver is currently valued at it's current valuation, spot price for new silver. This does not include secondary markets.

    It comes down to that the silver Spot price is what it is. It isn't what it isn't. Some ppl, economy naysayers; end of world types; etc will say that PMs are undervalued. Unfortunately, they are valued at their current valuation.

    Silver is used for a variety of things including (a) sale to be processed into rounds/bars; (b) coins; (c) used in industry/manufacturing; (d) jewelry; (e) other uses such as metal ETFs.

    If silver gets too high in price then (c) may look for alternatives. The others demand may drop. But it all depends.

    if you look at history of silver it really doesn't correlate well to the economy. It can correlate to the US Dollar Index more often than not. But look at 2011; there are exceptions to everything.

    You mention "which coins to exchange"
    this is really a generic statement that you have a context to but we don't.

    What type of "coins" are you even talking about ?
    Generic Rounds?
    numismatic rounds?
    actual coins? Cull coins all the way to well graded coins?
    ASE/Maple Leaf type coins?
    you haven't elaborated enough to give any good advice.
     
  16. d7710580

    d7710580 Member

    Thanks!
    That was my point.
    Difficult for me, to elaborate, as such, since I don't know what most of those terms mean. That's why my actual question was "What criteria do you use, to decide, which coins to exchange, for melt value?"
     
  17. Clawcoins

    Clawcoins Damaging Coins Daily

    The junk coins. The heavily worn, damaged stuff that you go "what happened to that coin?"

    Many generic rounds/bars. Or the cull (badly worn) silver based coins that have no numismatic/collector value. But @Bman33 has experience in the calculations of how much they may be worth to someone.

    for example, stuff listed here as "junk" or "cull"
    https://www.providentmetals.com/90-silver-coins.html

    but let's ask you a question.
    What Exactly do you have?
    Can you post pictures?

    instead of stating a "coin", state "a 1943 Walking Liberty Half Dollar in nice shape". Which would give us a much better idea of what to tell you.
     
  18. d7710580

    d7710580 Member

    Thanks, that’s very helpful!
    I have the following :

    Nickels: Circulated
    1913-1938 Indian head
    1943-1945 Wartime

    Dimes: Circulated
    1916-1945 Mercury
    1946-1964 Roosevelt

    Quarters: Circulated
    1932-1964 Washington

    Half Dollars: Circulated
    1916-1947 Liberty
    1948-1963 Franklin
    1964-1969 Kennedy

    Silver Dollars: Circulated
    1878-1921 Morgan
    1922, ‘23 ‘25 Peace

    Silver Dollars: Commemorative sets
    1921 Morgan & 1935 Peace
    1997 American Eagle

    6BC8C4C6-8AAF-415E-806D-31CCE43DFB32.jpeg 5E7EC2EF-FFFB-4055-AC31-D5304C11B204.jpeg C2216F39-574A-43BF-97DA-0A261E00F315.jpeg B7A17C59-AECE-4018-BC18-2FA62E8D87ED.jpeg BC4A2EA6-2840-4B92-A4A1-FA158A12AD55.jpeg
    70810FE5-1EF8-4303-9811-AB39C0614A3F.jpeg
    475EFD1C-E886-4BFF-9329-D57A9DF0670A.jpeg
     
    Last edited: Oct 24, 2018
  19. Clawcoins

    Clawcoins Damaging Coins Daily

    Now you'll see the experts chime in on exactly what you have and which are true "melt/spot" coins and which are not.

    I only know about the Peace dollars & ASE as I don't collect/deal with more worn circulated coinage. for instance, here's price guides for the Peace Dollars although the quality does not look to be too high for them.
    https://www.usacoinbook.com/coins/dollars/peace/

    The 1997 ASE seems to have a heavy tarnish area top left and around the edge although it was the initial year of the ASEs.
     
  20. d7710580

    d7710580 Member

    Thanks, appreciate ya'!
    Yeah, the 1997 ASE does look funky.
    FWIW: I have individual pics of some, and I can take more pics, if needed.
    D5F02645-3DFD-4248-8B4B-847A5611CC1D.jpeg
     
    Last edited: Oct 24, 2018
  21. Bman33

    Bman33 Well-Known Member

    Go here and look at buy back pricing on 90% silver coins. These are junk silver coins, looking at bullion content not collector value.

    https://www.providentmetals.com/90-silver-coins.html

    As you can see buy back is slightly below spot silver value on dimes and quarters. Halves command a little more than dimes and quarters. To calculate the spot value in terms of face value mulitply the 1oz silver spot price by .715; for example if spot silver is $14.75; $14.75 x .715=$10.55. So $10.00 face value of a roll of quarters is $105.50.

    You need to go through all your junk and make sure you are not giving away any key dates. That is a whole other topic!
     
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