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Nice Coins Heading For the Melting Pot?

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jackson64

1,319 views

as silver value inches towards numismatic value...

Like many of you here I have my little silver hoard stash. My hoard is not in the thousands of ounces where a $5 jump in silver prices would be a nice increase in my assets. With a hundred or more ounces, a hugely significant jump of $5 per ounce would not affect me positively financially--especially when that jump would probably indicate some downturns in other areas of investments.

What is of interest to me about potential rising silver is how it affects collectible coins. Most of the high grade coins in mint state that I collect will not be affected at all, however the lower grade coins--many of them classic coinage--could be headed for melting pots.!

What a shame for future lower budget and young collectors. I was perusing some price lists (trends for example) and was saddened to see that for many dates the silver value has passed the numismatic value.

An example would be common date Franklin halves, Walkers, washington quarters, mercury dimes etc... Often Franklin Half Dollar coins in VF-XF range ( still nicely collectible coins and grades) have a numismatic value of $6 or LESS. However they also have over 1/3rd ounce of silver content. With prices near $18 per ounce for silver-- a slight increase in silver price would make these coins more valuable as silver than as coins, very sad !!

I only use the Franklins as an example because when I was a kid, these were the first "higher dollar" coins I bought. Having collected mostly pennies and nickels in thumb buster albums--I'd go to our local coin shop with albums in hand and see if I could fill a few holes. The coin shop had 3-ring notebooks with pages of 2x2's in chronological order and if I was lucky, they may have some affordable ( for a kid with lawn-mowing money) grades that I could plug into my slots.

Hopefully there will still be enough that escape melting for the next generation of kids...either that or the ones that are left will become scarcer and more expensive...

Either way, I'll do my part..I've started a "rescue the decent coins" mission (not really)..Seriously though, I have started to purchase some nicer coins of even scarcer dates that I can find at or near melt..it is fun to find these old beauties for $8-15 and just put them away for posterity..

Here's a nice little 1933-S Half I picked up for $8 ($11 with shipping) this one will escape the melting pot at least...

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