Todays Wednesdays Box

[tw656]

Todays Wednesday's Box

111 2002 Are they really all worth keeping?
1 2003
3 2004
5 40%
1 1964

Certainly not a skunkeroo, but I want (need) SILVER!

 

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[LJ]

Re: Todays Wednesday's Box

Wow....111-2002's......I thought these were not minted for circulation? How do you think that many got out? I guess I would probably keep some but not all probably. I'm curious to see what the old salts say....lol.

Nice TW.....

 

[scotto]

Re: Todays Wednesday's Box

That is a pile of '02s. I only keep a couple of the NIFC, and dump the rest.

 

[TxTim]

Re: Todays Wednesday's Box

Wow....111-2002's......I thought these were not minted for circulation? How do you think that many got out? I guess I would probably keep some but not all probably. I'm curious to see what the old salts say....lol.

Nice TW.....

Me too

 

[silverfinder]

Re: Todays Wednesday's Box

My guess is that the mints released all the unsold 2002 halves into the Federal Reserve after the end of that year; the same probably holds true for the halves minted in subsequent years. It may take some time, for reasons I cannot fathom, for these surplus unsold halves to reach the regional vaults from which banks are supplied. This is probably also true for clad proof coins found in rolls. However, it does not explain the occurrence of 2006 halves found well before that year ended, although I expect that many more 2005-2006 halves will be found within a year or two. I have found many 2002 and 2004 halves, and no longer keep any unless they're proof. I have also found many 1987 P and D halves in rolls, which I will keep if they are high grade. However, I do so with little enthusiasm, as their value is slight. I do not know why loose silver proof coins from the '90's and later are found with regularity, albeit in small numbers - I doubt that the mint releases these into circulation if unsold at year's end. It's more likely that these are melted and the bullion reused for new coinage. But I'm just speculating. I could be dead wrong.

 

[schramm]

Re: Todays Wednesday's Box

Silverfinder,I have been told someting very similar to what you wrote by several collectors now and it makes sense to me with how many '02-'06 I find.

They said they release them as needed to make up for shortages in certain areas when too many halves are held out of circulation.

They may release them all at the end of each minting/selling cycle or just enough to make up for the shortages-I don't know.

But I am confident that with as many as I have been seeing over the last 5 years and the fact that dealers won't buy them at all that they are NOT being spent by collectors who paid a premium for them.

They are making their way to circulation in another way-your theory and what I have been told make sense enough to me to not save them,not to mention the fact that dealers won't buy them.

 

[GMan00001]

Re: Todays Wednesday's Box

My thoughts on the 2002+ found in circulation is this.

They were available from the mint in bags and rolls for a small premium above face mainly for collectors. I am sure some were purchased and then subsequently cashed in as whoever had them needed cash (similar to how I believe some of the silver gets into circulation today).

However, I believe the main source of 2002+ halves is that some of the coin dealers that purchased the 2002+ halves from the mint just cherry-picked the best ones which they could sell at higher prices (enough to cover the extra cost of purchasing them plus some profit) and then cashed in the lower quality stuff.