Are we killing coins by searching boxes?

Fredness · Sep 11, 2009

So, here are some givens:
We search sealed boxes of machine wrapped coins.
We know that one end of the wrapper is pre-formed and loaded in to the counting machine, the coins are counted/dispensed and in a separate step, the crimper presses the roll tight, and applies the final roll crimp.
We also know that many coins are damaged in this process - but I'll say 1 in 10 rolls for this example.

Now, with 20 coins per roll, there is a 1 in 10 chance of the open end coin getting damaged.
Each time the coin is subject to our "catch and release" it gets stored in the bank vault until it goes back to the vendor, where it is mechanically sorted, counted and rolled again, increasing the chance of more damage.

Discuss...

AGCoinHunter · Sep 17, 2009

I though all melting any coinage was illegal? But you make a great point. If its being done, some of these coins may be scarce in 30-40 years or so.

GPURS · Sep 17, 2009

Kinda funny how some folks get the ole panties in a wad about a sharpie mark on a clad half, yet have no problems with deep grooves and gashes from the rolling machine, and salivating at the thought of selling their silver collection for melt :dontknow:

... Gpurs....

packerbacker · Sep 17, 2009

They have been getting melted for years by the thousands upon thousands upon thousands, day in and day out but who knows how many of which years??........No one! I have a 1962 Ben Franlin in front of me right now. Is it the last one in existence? Are there 9 others left, 900..........9,000?? Could be worth a fortune to a collector if we just knew how many were left. A lot of "collectors" hold on to the 1970 halves because of the low mint numbers but, in all actuality, because the others are getting melted down, the other dates could become more rare. So...........dump the 1970's and hold on to the rest if you want "Rare".

AGCoinHunter · Sep 17, 2009

Why I will probably hang onto all 90% and keep the nicest 40%. The others will be shipped off the the smelter to make my holdings more "rare"

golden silver · Sep 17, 2009

I can garuntee your 62 franklin is not the only one in existance.

Golden Silver

packerbacker · Sep 17, 2009

Dang it!! There must be 2 then!

Ifyndit · Sep 17, 2009

GPURS said:
Kinda funny how some folks get the ole panties in a wad about a sharpie mark on a clad half, yet have no problems with deep grooves and gashes from the rolling machine, and salivating at the thought of selling their silver collection for melt ... Gpurs....

I'm glad I wasn't the only one thinking the same thing!

golden silver · Sep 17, 2009

I see your point but there is a slight differance. I AU clad coin just dropped into circulation passes through the machine can still be picked up by a collector in good condition. If some guy puts a big ole sharpie mark across Ken that eliminates that possiblity. This is a fight the coin markers have already won however due to the fact there is no way for those who disagree to stop it. The argument is just for the sake of agruing I guess.

Golden Silver