How long?

Johnny_Omerta

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Nov 26, 2014
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I have a friend that works at a gold and silver exchange. ALL THE TIME he sends stuff to the melt. Silver dollars, halves, quarters and so one. My question would be how long will it last? Everyday things are taken out of circulation and melted down. One day many of our families will sale our stack and it may be melted down. I don't think it will be anytime soon but one day it will be so rare to find something it wont be worth the hunt but when?
 

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Johnny_Omerta

Johnny_Omerta

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Nov 26, 2014
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I guess i just take this out of context. I feel like people think im lying. From day 1 I knew CRHs are paranoid but why are people so critical. Its a 50% toss up around here on the kind of response I am going to get back. People can be rude. Not just on my post but I Ive seen it on new people that ask rookie questions or hell just anything. I hate the negativity ALL THE TIME.
 

enamel7

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I don't think you're a liar nor do I think Morgans are being sent to the smelter. I just think you're receiving some misinformation.
BUT I do see a problem with your suggestions of so much negativity on posts. Some people just can't except that the coin they post their first time isn't worth a million dollars. All of a sudden every one's jealous of what they have. Those folks usually don't stay around long.
Mainly it's like this. Those people send in coins and jewelry to the smelter. The smelting company pays there a percentage of melt, melt the jewelry and sell the coins after market. The seller assumes all was melted.
HH
enamel7
 

mAGma

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I guess i just take this out of context. I feel like people think im lying. From day 1 I knew CRHs are paranoid but why are people so critical. Its a 50% toss up around here on the kind of response I am going to get back. People can be rude. Not just on my post but I Ive seen it on new people that ask rookie questions or hell just anything. I hate the negativity ALL THE TIME.

No offense man, but people dont think youre lying. They think you are wrong.
 

markmopar

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Bolts made of silver? What are they used for?

Ships. US Navy WWII destroyers mostly. They were scrapping them at the Philly Navy yard back in the 70's. My buddy's Dad worked there and collected buckets full of them and many more buckets of contacts sweated off other areas.
They were used to hold large contacts in place in the electrical systems.
 

Owassokie

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Johnny, I don't think you're lying. I'm guessing people say "melt" but they're just sending it in to a precious metals retailer and assuming its getting melted. I have no interest in calling you out. I'm just trying to address the OP and what I believe to be a false idea that a significant portion of junk coins are being melted.

Consider this: Provident is a reputable buyer. I've used them. They have a quick turnaround and it was a good experience. You can go to their website at any time and see what they are offering. As of this posting, they are offering $11.60 per $1 face value (90%). $1 face value has a melt value of $11.31. So you get over 100% of the melt value. Obviously a refiner can't offer you over 100% melt value. Why would small businesses choose to have them melted? I'm not saying it doesn't happen. It's just not widespread and common like you envision.
 

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Johnny_Omerta

Johnny_Omerta

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Nov 26, 2014
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I am just telling yall what I have been told from two places. I would ASSUME they are not the only ones. What happens when it gets where it ia going is not really that relevant because the coins are taken out of circulation. The question was how long will CRH last until its so rare to find silver that most people wont hunt anymore.

Yes, there are billions of coins but people still have 20, 30+ boxes of skunks. That number will only increase as years go by. How long from now will it be until it is not worth the hunt? Everybody's definition of worth is different and I know that. People hunted endangered animals until they became extinct and OR thw only specimens are in the zoo....one day all the silver will be in collections and not in the wild.... HOW LONG? Forget the melt because its like Schrödinger's cat*at this point.
 

enamel7

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If the price drops too low most people will stop searching. Silver will then build back up in boxes. That's what happened in 1980. It will be released back into the wild and stay there without people searching for them.
 

mAGma

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May 29, 2013
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I am just telling yall what I have been told from two places. I would ASSUME they are not the only ones. What happens when it gets where it ia going is not really that relevant because the coins are taken out of circulation. The question was how long will CRH last until its so rare to find silver that most people wont hunt anymore.

Yes, there are billions of coins but people still have 20, 30+ boxes of skunks. That number will only increase as years go by. How long from now will it be until it is not worth the hunt? Everybody's definition of worth is different and I know that. People hunted endangered animals until they became extinct and OR thw only specimens are in the zoo....one day all the silver will be in collections and not in the wild.... HOW LONG? Forget the melt because its like Schrödinger's cat*at this point.

Outside of everything thats already been stated multiple times...i think you might also be working under another false assumption that the silver you find coin roll hunting has just been 'floating around' in circulation for years and years. And, yes, if that were the case, then it would eventually be depleted. But that is not the case. Silver is continually being reintroduced back into circulation from people turning in what they dont realize is valuable. And one thing we can always count on is ignorance
 

TheMastermind

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Also, they are still minting silver coins. Albeit, not as many. But it's still being minted. As long as silver coins are being minted, even if they are NIFC, the potential that they'll eventually end up in circulation is probably somewhat high.
 

Owassokie

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I'll echo what Magma said. CRHers aren't digging to the bottom of the vault. You're just passing half dollars back and forth waiting for individuals to deposit silver. It may be an inheritance. Maybe a collector dies and the wife takes it to the bank. Estate settlement. Theft. People that just don't care.
 

enamel7

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Only way I know to get to the bottom is keep all you search.
 

SFBayArea

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Aug 28, 2009
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Only way I know to get to the bottom is keep all you search.

Oh there is a bottom.. LOL. I've been there and it ain't pretty. Back in 2009 era when I used to get consistent boxes, I got to the bottom after a while. Since there was a shortage of halves due to CRHing or supposedly getting to the bottom, they released a ton of newly minted coins stored at the FED vaults. I got nothing but boxes of 1999-D and 2001-D boxes for a short while. I recalled a lot of people complained about getting 2001-D's on the west coast for a while. People didn't know that 1999-D BU rolls had value. I didn't mention it here either. Sadly, I noticed some CRHer in my area dumped them too. Too much dumping leaves the coins more circulated. I could tell the dumped ones because a box would have a ton of new coins in there but the box was not all new coins. The dumped new coins also received additional bag marks and dings as they had to go into a machine for sorting, rolling, etc. Little did they know. The 1999-D's were actually worth more than face. I sold solid 1999-D boxes for an okay profit. I needed capital to keep the hobby going. The 2001-D's had no real value so they just got dumped sadly. Many of them had nice bag toning from being stored in a canvas bag for so long since minting. I notice every time I up my order, I will get more skunks including boxes with a bunch of my own marked coins inside. Diminishing returns. My guess, is that the coin factory will sort, roll, and box whatever coins they have on hand that were returned by banks of recent date. If they have a big order more than what they have on hand, they will ask the FED. Some of those large dumps have returned to the FED.
 

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