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insurrection1517
Penny Collector Member
USA
262 Posts |
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Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 02/18/2008 : 21:40:03
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| A $1000 face bag of US "junk" silver now sells for about $12000. None of the coins are generally rare, but have this value due to their 90% silver content. Melting of these coins happens every day as countless bags are purchased by smelters and melted down for industrial or other purposes. It's been argues that so much of the mintage of common date silver coins (such as 1964 quarters and dimes, for example) have been melted since the late 1970s that many of these may actually be getting scarce. I know coin and bullion dealers who have been buying all of the silver coins they can from the public. This melt is raging on and will continue to gain more momentum as people become aware of the rise in silver's price. The melting won't just begin, it'll become intense. Let the games begin! |
Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
 Posted - 02/19/2008 : 09:38:40
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I don't know if the melt ban is on or not....I also would like to know,
BUT I HIGHLY DOUBT!!! that any silver coins are getting melted. Too many buyers that pay a very small premium for it to be worth it to melt.
Unless you can provide some data/facts to back up the claim that they are being melted. YES, I hear this on infomercials and other 'scams' trying to sell you these bags of 'junk silver' BUT I DON"T BELIEVE ONE WORD.
Some may have been melted in 1980 and 81, but I SERIOUSLY doubt more than 1% has been melted SINCE THEN.
that's my 2 cents. |
"May your percentages ever increase!" |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/19/2008 : 15:33:13
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| No melt ban on U.S. silver coins or even the silver war nickels. (Change was made to the orginal penny/nickel melt ban concerning the war nickels.) I doubt any war nickels are being melted any way. |
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Think positive. |
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Melt Ban on Silver in effect?
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