junk silver

Dave Farmer

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Dec 14, 2010, 5:50:08 PM12/14/10

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Does junk silver (90% silver coins before 1965) really get melted or
does it just get traded from person to person?

Anybody actually see coins being melted in any quantity?

Dave

Jerry Dennis

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Dec 16, 2010, 7:38:55 AM12/16/10

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I'm not privvy to the actual melting having happened, but our good
friend, Robert Chambers, claimed in the past that during the 1980s,
silver of all types was thrown into the smelters. I specifically
remember him saying that 40% Bicentennial proof and mint sets were
tossed into the pot without opening the cases/envelopes.

Jerry

Jud

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Dec 16, 2010, 1:52:58 PM12/16/10

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On Dec 16, 7:38 am, Jerry Dennis <JDen1...@aol.com> wrote:

> I'm not privvy to the actual melting having happened, but our good
> friend, Robert Chambers, claimed in the past that during the 1980s,
> silver of all types was thrown into the smelters. I specifically
> remember him saying that 40% Bicentennial proof and mint sets were
> tossed into the pot without opening the cases/envelopes.
>
> Jerry

Seeing as how nobody was keeping track of just exactly what dates were
being melted, makes me wonder if some years down the road we will find
that 1963 and 1964 uncirculated silver coins are much rarer than we
now know.

Jud -the ponderer-

Beanie

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Dec 16, 2010, 2:13:39 PM12/16/10

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"Jud" <numis...@aol.com> wrote in message
news:02a917b3-1fe5-40c2...@k11g2000vbf.googlegroups.com...

----------------------------------------------------------------------------
Maybe but I doubt it.
I can get rolls of BU 1964 coins, esp. Kennedys, for just a tad higher then
melt.
Don't forget that the Mint kept striking 1964 dated coins well into 1965.

Ken Barr

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Dec 17, 2010, 3:17:48 AM12/17/10

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In article
<02a917b3-1fe5-40c2...@k11g2000vbf.googlegroups.com>,
Jud <numis...@aol.com> wrote:

Doesn't seem to be the case ... at the shop where I work
occasionally as an hourly peon, one of my regular tasks is
to spot check the recently purchased ninety-perzent while
counting/bagging it up for shipment. There are STILL an
awful lot of BU rolls of 1960 - 1964 coins coming in ...

(And for the record, I did find a 1916-D Mercury earlier
this year ... came back from NGC as an AG-3 ...)

--
Ken Barr Numismatics � � � �email: �k...@kenbarr.com
P. O. Box 32541 � � � � � � website: �http://www.kenbarr.com
San Jose, CA �95152 � � Coins, currency, exonumia, souvenir cards, etc.
408-272-3247 � � � �NEXT SHOW: Peninsula CC (Naperdak Hall, San Jose), Nov 11

Gene85

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Dec 17, 2010, 9:46:05 PM12/17/10

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It wouldn't make sense to melt silver coins because there is an active
market for silver coins especially US coins. There is always some loss
in melting and purity needs to be established when selling. A $1000
face of silver coins (715 oz) is selling for about $20,000. This
amounts to spot price of silver. There is never a question of silver
content in most coins. Silver coins are easy to buy and sell.

Jerry Dennis

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Dec 18, 2010, 7:59:47 PM12/18/10

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> content in most coins. Silver coins are easy to buy and sell.- Hide quoted text -
>
> - Show quoted text -

From a collector's standpoint, I would agree. But most Americans have
no idea what a silver coin is. My own kids know what practically
every U.S. coin struck in the 20th century is because of my
collection. But give the average Joe in America a Standing Liberty
quarter and you'll most likely get the "deer in the headlights" look.
Some may figure out it's a 25-cent piece by the size, but they
wouldn't have a clue that it's a U.S. coin, still worth that 25 cents
face value.

Jerry

Gene85

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Dec 20, 2010, 9:48:16 PM12/20/10

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The discussion was about melting silver coins. The only reason for
melting coins is for the silver content. I can see no possible reason
for melting silver coins.

Beanie

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Dec 20, 2010, 10:55:10 PM12/20/10

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"Jerry Dennis" <JDen...@aol.com> wrote in message
news:4416adf0-479e-4815...@v17g2000yqv.googlegroups.com...

From a collector's standpoint, I would agree. But most Americans have
no idea what a silver coin is. My own kids know what practically
every U.S. coin struck in the 20th century is because of my
collection. But give the average Joe in America a Standing Liberty
quarter and you'll most likely get the "deer in the headlights" look.
Some may figure out it's a 25-cent piece by the size, but they
wouldn't have a clue that it's a U.S. coin, still worth that 25 cents
face value.

Jerry
-------------------------------------------------------------------
I'd say every American born before 1959 or so has the memory of silver coins in
circulation.
A silver dime or quarter would be instantly recognizable to all because the
design is basically the same.
As all the other coins are clearly identified as to their value and issuing
authority, I don't think the "average Joe" would be too perplexed at the sight
of a SLQ.