Why are there "collection dumps"?

[New Orleans Relic]

Even with silver prices now back down to earth, who would not know any silver coin is worth more! The look is obvious. At even today's silver being under $17, I think any silver coin value would be 5 times face.
I remember hitting my moms coin collection, when in the early 70's, video games came to the bowling alley. Still today I'm sure anyone emptying coins from video games, pulls all silver and more. I actually thought it was considerate of me (at 12 in 1970), avoiding the silver. And did offer it up when "busted". Probably helped a bit. Lol And I've felt awful about it ever since. Early character lesson it seems.
I'm trying to remember if the video games were 3/.25 or 5/.25? Perhaps it was the old pinball machines that were 5/.25 I'm thinking.
Ray

 

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[Joe777Cool]

Why ask why - just be thankful there are alot of stupid people out there!

 

[ArkieBassMan]

Ignorance and/or thievery are the two most likely reasons.

 

[Slingshot]

Most Americans are so dumbed down that they even think aluminum foil is silver. If P.T Barnam were still around today he would really be rolling in the dough.

 

[Liu21]

To some people silver is just a metal with no uses but in jewelry... The banking systems needed to remove the competition, so they can have a monopoly.

 

[New Orleans Relic]

Are banks suppose to recirculate silver when obvious? Can tellers or management purchase what they spot? Do they pull foreign coins/currency when they see it has slipped in? And I guess send it the Fed Reserve like damaged currency?
Sorry Joe, I'm curious, not thankful for any stupid people. Ignorant either!
Ray

 

[enamel7]

Banks aren't required to pull silver, and yes some employees buy it when they see it. Foreign coinage if found can be thrown away or saved to be turned in to a money exchange.

 

[fistfulladirt]

There is no incentive for banks to pull silver. Silver and gold are in direct competition with the dollar.

 

[New Orleans Relic]

There is no incentive for banks to pull silver. Silver and gold are in direct competition with the dollar.

I'm sorry, I don't understand. Competition?
Also seems tellers, vault people and mgmt would sift most loose silver.
My financial advisor at Chase, doesn't actually work for the branch.
Wonder if he would have thoughts? I've known him 5 plus years.
Ray

 

[fistfulladirt]

I'm sorry, I don't understand. Competition?
Also seems tellers, vault people and mgmt would sift most loose silver.
My financial advisor at Chase, doesn't actually work for the branch.
Wonder if he would have thoughts? I've known him 5 plus years.
Ray

Competition meaning the banks want consumers to invest in the dollar, and not PM's.

Tellers, vault people or management sift for silver today? Unless they collect coins, there really is no incentive when "Larry's Jewelers" down the street is paying .75c for 40% halves (or not buying), and 2 bucks for 90%.

 

[CW3(ret) US Army]

Even with silver prices now back down to earth, who would not know any silver coin is worth more! The look is obvious. At even today's silver being under $17, I think any silver coin value would be 5 times face.
I remember hitting my moms coin collection, when in the early 70's, video games came to the bowling alley. Still today I'm sure anyone emptying coins from video games, pulls all silver and more. I actually thought it was considerate of me (at 12 in 1970), avoiding the silver. And did offer it up when "busted". Probably helped a bit. Lol And I've felt awful about it ever since. Early character lesson it seems.
I'm trying to remember if the video games were 3/.25 or 5/.25? Perhaps it was the old pinball machines that were 5/.25 I'm thinking.
Ray

Arkiebassman hit it pretty good. Ignorance is when the parent (coin collector) dies & the heirs (children) know nothing about the coins & are to lazy to try & find anything out about them. They go to the bank & cash them in for face value so they can get folding money rather than have to carry around all those coins. Thievery is pretty obvious. The crooks only want the cash money that folds not clinks. Easier to carry.
HH
Gary