Topic: In the end all metals get melted. (Read 205 times)

It's straight up economics.  If a coin's face value is worth less than its melt value, there's a good chance a lot of those coins are going to make their way to metal recyclers.  That isn't the case nowadays, but it was many years ago.

And who cares if the statement in the title is true?  That's about as useful as saying "in the long run, we're all dead".  I don't even agree with it, because there are still coins and jewelry that have survived hundreds of years or more.  That's a long enough run as a coin or necklace or whatever for me.  Plus these days even junk silver coins don't get melted.  If the value of gold or silver plummets, you might see some melting, but I think those days are long gone.

You're correct: when the sun will explode, everything, including all the metals, will melt.

But before that event, no, all metals will surely not get melted. That's just not possible because
1. Not all are found/mined.
2. Some people are just sentimental about some of the metals they hold.

I can’t never tell why they want to melt it at the first place.

In the end all metals get melted. None shall survived.

Omg you right, it went very near 50$ by end of 79 and thru 80. Lol sorry.

Had no idea silver ever went that high.

Why I read it was $16 to $21 an ounces over kitco site, you sure about it?

I were baffled myself, I just checked google and price was about 10% of what OP claims.

I'm not sure how to react to the fake claim or why I didn't research before making a post, I erased it anyhow.

The situation when the cost of the metal exceeds the face value of the coin is quite frequent, and therefore many governments refuse to issue small coins, or replace them with cheaper counterparts. I know that such cases were with pennies made of stainless steel in Ukraine during EURO 2012, when some Europeans bought them with bags at face value and tried to take them away.

“Most of the melting took place in 1979 and 1980, when silver bullion soared to ATH of $50 an ounce.”
 WOW thanks for the info, i was completly unaware.

The situation when the cost of the metal exceeds the face value of the coin is quite frequent, and therefore many governments refuse to issue small coins, or replace them with cheaper counterparts. I know that such cases were with pennies made of stainless steel in Ukraine during EURO 2012, when some Europeans bought them with bags at face value and tried to take them away.

They didn’t melt them to make into jewellery, but they turn it to the bullion to make into metal bars, and what are they going to do with the metal bars is out of my mind, I can’t never tell why they want to melt it at the first place.

Not when the supply is limited and we have women around 

No one would ever hate a vintage gold necklace and people will continue to buy it even after we would have discovered 100 more of them.

This is marketing.

Marketing is able to go around selling a dollar thing for thousands of dollars . ( What happens with diamonds )

Metals will stay for sure . Trust me.

“Coen estimated that of all the silver coins produced by United States mint, only about one-quarter survived the ongoing melts.”

“Any coins that wouldn’t bring 35 bucks an ounce has no option but to melt them.”

“Most of the melting took place in 1979 and 1980, when silver bullion soared to ATH of $50 an ounce.”

“Even scarcer item could be melted at a profit.”

“The value of silver has plummeted to around $5 an ounce and the melt has been reduced to a virtual standstill.”

“They(melter) destroyed a lot of our ‘seed coins’ and put a lot of coin collectors out of business.”

“That’s the way it’s with the coin market, I’m afraid.”

“Do you realise that this is going to destroy not only the present generation of collectors, but future generation as well?”

“From now on, no kid could look through his father or mother’s change and form the nucleus of a coin collection, like I did when I was a kid.”

“All the low end silver stuff got melted.”

“When silver went so high, they were worth more money dead than alive.”

“They helped us get rid of a lot of the garbage dollars.”

“I’d say we got rid of 75 percent of the cull dollars.”

“A lot of good coins undoubtedly got melted.”

“When silver hit $50 an ounce, I would say that 98 percent of the silver coins in existence were commuted to smelting houses.”

“U.S. nickel melted down is now worth more than seven cents, thanks to soaring metals prices.”

“Coin enthusiasts gather on Realcent.org converting their savings accounts into basements full of nickels.”

“Hoarders see an opportunity for arbitrage— pestering cashiers for specific change and sweet-talking bank tellers into selling them boxes from back room.”

“It’s like everyone is just giving out diamonds for free and nobody knows it.”

“The U.S. Mint diluted the composition of both the dime and the quarter, the composition change caused the value of the original coin to skyrocket: pre 1965 dimes can now sell for $3.50 each, the quarters are $8.”

“Penner believes it’s only a matter of time before the coins get debased, Turning his nickels stash into a gold mine.”

“Federal law currently prohibits melting nickels. But Treasury will eventually give in when metal values climb and put pressure on U.S. mint to lift the ban.”