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With the run up in silver price, do you think a lot of collectible coins are being melted down??

I am curious if a lot of AG to G Barbers are being melted down and will this ultimately lead to them becoming more collectible?

Pennysaved wrote:With the run up in silver price, do you think a lot of collectible coins are being melted down??

I am curious if a lot of AG to G Barbers are being melted down and will this ultimately lead to them becoming more collectible?

I have sent a few to the refiner....not sure if he cooked them or resold them.

Ive sent quite a few things to the refiner myself. I feel like it is a definite possibility.

Pennysaved wrote:With the run up in silver price, do you think a lot of collectible coins are being melted down??

I am curious if a lot of AG to G Barbers are being melted down and will this ultimately lead to them becoming more collectible?

Yes, alot of Barbers, because they are underweight of the 715 convention, are being offered by coin dealers and others to be melted down. Ultimately, coins in any of the lower grades, but particularly the Barbers will become quite scarce complements of Gresham's Law. This WILL lead to an increase in their numismatic value in those grades, but this will lag in real time their increase in bullion value, and could require years to establish their new standard of rarity. Once silver rises to a permanent plateau and stabilizes (if it ever does) then numismatic premiums might once again be assigned to them. During a price run-up such as we are experiencing, most will only value them as bullion. If silver goes hyperbolic, that's all they'll ever be valued at... bullion melt. This applies to all grades of numie coins, but to a lesser extent for the MS grades. One thing to consider... if it ever gets really bad (TSHTF?) who is going to be left around that has the spare cash to be a coin collector?

beauanderos wrote:

Pennysaved wrote:With the run up in silver price, do you think a lot of collectible coins are being melted down??

I am curious if a lot of AG to G Barbers are being melted down and will this ultimately lead to them becoming more collectible?

Yes, alot of Barbers, because they are underweight of the 715 convention, are being offered by coin dealers and others to be melted down. Ultimately, coins in any of the lower grades, but particularly the Barbers will become quite scarce complements of Gresham's Law. This WILL lead to an increase in their numismatic value in those grades, but this will lag in real time their increase in bullion value, and could require years to establish their new standard of rarity. Once silver rises to a permanent plateau and stabilizes (if it ever does) then numismatic premiums might once again be assigned to them. During a price run-up such as we are experiencing, most will only value them as bullion. If silver goes hyperbolic, that's all they'll ever be valued at... bullion melt. This applies to all grades of numie coins, but to a lesser extent for the MS grades. One thing to consider... if it ever gets really bad (TSHTF?) who is going to be left around that has the spare cash to be a coin collector?

The Rockefellers and the Rothschilds will be around.

shinnosuke wrote:

beauanderos wrote:

Pennysaved wrote:With the run up in silver price, do you think a lot of collectible coins are being melted down??

I am curious if a lot of AG to G Barbers are being melted down and will this ultimately lead to them becoming more collectible?

Yes, alot of Barbers, because they are underweight of the 715 convention, are being offered by coin dealers and others to be melted down. Ultimately, coins in any of the lower grades, but particularly the Barbers will become quite scarce complements of Gresham's Law. This WILL lead to an increase in their numismatic value in those grades, but this will lag in real time their increase in bullion value, and could require years to establish their new standard of rarity. Once silver rises to a permanent plateau and stabilizes (if it ever does) then numismatic premiums might once again be assigned to them. During a price run-up such as we are experiencing, most will only value them as bullion. If silver goes hyperbolic, that's all they'll ever be valued at... bullion melt. This applies to all grades of numie coins, but to a lesser extent for the MS grades. One thing to consider... if it ever gets really bad (TSHTF?) who is going to be left around that has the spare cash to be a coin collector?

The Rockefellers, Rodebaughs, and the Rothschilds will be around.

Sorry....A guy can dream can't he.

Rodebaugh wrote:

shinnosuke wrote:

beauanderos wrote:
I am curious if a lot of AG to G Barbers are being melted down and will this ultimately lead to them becoming more collectible?

Yes, alot of Barbers, because they are underweight of the 715 convention, are being offered by coin dealers and others to be melted down. Ultimately, coins in any of the lower grades, but particularly the Barbers will become quite scarce complements of Gresham's Law. This WILL lead to an increase in their numismatic value in those grades, but this will lag in real time their increase in bullion value, and could require years to establish their new standard of rarity. Once silver rises to a permanent plateau and stabilizes (if it ever does) then numismatic premiums might once again be assigned to them. During a price run-up such as we are experiencing, most will only value them as bullion. If silver goes hyperbolic, that's all they'll ever be valued at... bullion melt. This applies to all grades of numie coins, but to a lesser extent for the MS grades. One thing to consider... if it ever gets really bad (TSHTF?) who is going to be left around that has the spare cash to be a coin collector?

The Rockefellers, Rodebaughs, and the Rothschilds will be around.

Sorry....A guy can dream can't he.[/quote]

Sure...dream away. And since you are sitting on all that cash like your comrades, I think a good dose of redistribution is in order. Don't forget your friends down here in Texas.

I was just called to task in a PM. I did not mean to imply that the scarcest, rarest coins in highest grades would go for melt during a hyperinflationary scenario, though I do believe the premium they fetch over spot price would narrow considerably. Only the filthy rich (Rockefellers, Rodebaughs, and Rothschilds) would be able to afford them.

beauanderos wrote:I was just called to task in a PM. I did not mean to imply that the scarcest, rarest coins in highest grades would go for melt during a hyperinflationary scenario, though I do believe the premium they fetch over spot price would narrow considerably. Only the filthy rich (Rockefellers, Rodebaughs, and Rothschilds) would be able to afford them.

Thanks for keeping the humor alive.