What's going to happen when...

[Evan/tn]

Everyone is selling there common silver coins and they get melted. I would think that in a few years the collector value of common silver coins will start rising since they are being melted at an astonishing rate..... yes...no...maybe? :dontknow:

[JTGOLD]

I agree 100% Evan. I think they will go up but it will take awhile.

[coinnut]

I always wondered if they are just kept in rolls or are actually melted? :dontknow: If they were needed in industry, then they are probably being melted, but it costs money to do that and I would think no one would spend the cash if it didn't get used right away. I don't know :confused: But if they are gone forever, you can forget about the mintages you see in the Redbook and eventually they will definitely rise in price. Just think... one day some kid will save his money just to get that first year Memorial penny after we melt all of them pennies too rofl

[wingmaster]

Lets hope so anyway as I don't have any plans to sell mine, I figure when my grandkids get old enough my wife can pass them along.

[zrickkid]

The best was would be to look at what silver coin prices were before and after the great melt of the early 80s.

[Jeff (or)]

It's true that a lot of common silver is being sold, but I don't think all the buyers are melting the coins. I'm sure a certain percentage is being held back to see what will happen in the future regarding prices. There are still a lot of silver coins out there to be found. All it takes is a bit of research. :interesting:

[Carver]

It's true that a lot of common silver is being sold, but I don't think all the buyers are melting the coins. I'm sure a certain percentage is being held back to see what will happen in the future regarding prices. There are still a lot of silver coins out there to be found. All it takes is a bit of research. :interesting:


You are right Jeff,,,,,,,It would boggle the mind to know how much silver is lying in the ground!!

[russellt]

if somebody offered to buy my silver coins so they could melt them down....................... i would spit some beachnut in that dudes eye. blasphemy.. trading history for petty cash is just flat wrong .. even if somebody had a valid argument to the contrary i would call them a liar, slap them with a white glove and challenge them to a dual.................... :ticked:

[Bedrock]

Well, they have always called the U.S. a melting pot.

[giant056]

I seen a thing where they're saying silver's gonna hit $250 an ounce in 2011, I think it's gonna go up considerably but not that much probably but you never know.

[marinedad]

i always thought it was wrong or illegal to deface currency. i guess i lived under a rock too long, somebody correct me.

[coinnut]

i always thought it was wrong or illegal to deface currency. i guess i lived under a rock too long, somebody correct me.


I just Googled it and got this. I always assumed it was illegal, but it seems if you don't try to defraud anyone, no one cares lol

http://www.coinflation.com/is_it_illegal_to_melt_coins.html

[Dimeman]

The best was would be to look at what silver coin prices were before and after the great melt of the early 80s.


Millions and millions of silver coins got sent to the smelters then. With the number of coins and other silver items people were turning in for cash, the coin dealers didn't have that much time to go through every single coin to look at rare dates. I had a close friend in the business and he told me melt value was more on some coins than the rarity value, so all went in to be melted. :shocked04:
It is presently illegal to melt copper pennies and nickel coins down.

[jkress]

This is a great question. :yes:

Yes, plenty are getting and got melted. However, keep in mind a very high volume get moved from one collector/hoarder/investor to another and another. I know I am saving more than my fair share lol thumbsup01 but sadly many are gone forever. crying01