Silver dollars

Not illegal to melt silver coinage, there was a temporary ban on doing so for a few years until they got enough of the debased coins in circulation, then it was lifted, and, yes, many millions of them WERE melted....and most of the rest will be at some point. The scarcity of silver and the continued destruction of the paper dollar will insure this.

Similarly, a current ban exists on melting pre-82 US pennies ( which are 95% copper/5% zinc ) and are fast disappearing from circulation, and are now "worth" almost 3 cents in melt value. The new, debased penny is the exact opposite copper/zinc ratio, and folks are assuming the ban will be lifted on the old penny at some point ( like it was on 90% silver coins ) and they will profit from melting.

The US nickel ( 75% copper/25% nickel ) is the next coin to be debased under a law passed this year. Current melt on them is about 7 cents.

Debasement of coins is a time honored tradition of economically dying empires.

Now 90% silver dimes are almost 22 times face value!

Just found a small vegetable seedsman whose price per packet is one silver dime. He also advises various places to obtain the dimes such as pawn shops, coin dealers, etc.

Martin

Read last night where nickels (5c pieces) are worth 6.5c on metal value basis.

Will be getting a few bags or boxes this week, if the bank still has them.

Next year, they're going to a new nickel, I think stainless steel...

Buying a couple hundred bucks of nickels is a no lose gamble... they'll always be worth face value, but if our currency is further devalued, they're not likely to exchange old coins for new ones, like they would for paper currency.

survivalblog has an excellent article on the subject.... If this country goes through a hyperinflationary period, large denomination notes would be exchanged for smaller new notes. Trade a 2010 Benjamin for a 2012 Reagan (or whatever they call the new dollar bill). The coins would retain their face value... which in itself could be a windfall.

Imho, a 'golden' chance to obtain 'real' currency at face value, for less than it's actually worth... similar to 1964 when you could still get silver for 'free'... through coinage.

__________________
Luck is what happens when preparation meets opportunity. Seneca
Learning is not compulsory... neither is survival. W. Edwards Deming

Whenever any nation has undergone such devaluation, it also applied to the coinage. There is a certain grace period during which the old may be replaced with new. After that their only value is their metal content which would be according to the new system. I have worthless coins from a number of countries which I have visited.

Martin

So how about a Liberty dollar? One that's really worn?
Is that worth more as a collectible (say a 1918, though I have various years since I have a handful of them) or as pure silver? What was the silver content at the time?

__________________
~*~Erin~*~
SAHM, ranch wife, sub and quilt shop proprietress
the Back Gate Country Quilt Shop

The traditional silver dollar was 90% silver and 10% copper. Weight was .7736 troy ounce. (There are no 1918 silver dollars.)

Martin

Wrong answer, from 1971 to 1976 there were both uncirculated 40% silver dollars minted and 40% proof silver dollars minted, many have been stolen from collectors and placed into circulation though those would show an "S" mint mark and no copper on the edge of the coin.

Try Coinflation to check the metal content value though the actual value you may get from a buyer will be lower, the value should be close. A coin dealer will likely offer about 40% less than retail price for any given coin, particularly one not graded, but since grading a coin costs about$30-50.00 on average unlss you have an excellent example of a late coin [1095 is late in terms of collecting years] it is not worth the dollars spent.

To sell them, offer them on Ebay or CL, though Ebay fees may make it so they are not worth peddling.

No the peace dollars [25 and 26, look on the reverse and the bottom you will see the word peace] are not one ounce coins, they are closer to 3/4 of an ounce like the dollars before them, the Morgan, trade, seated Liberty, flowing hair, only the eagles after 1986 were one ounce silver dollars. value is determined by the amount of wear they have on them, for instance one 1925 i have is valued low around $150.00 but the next grade up i have is $600.00 and both coins are nearly equal i feel, so the value may indeed be worth getting that coin graded again for the higher collector value as grading is subjective and merely opinion of a coupe fellows hired to give those opinion on a given day.

some one posted Numismedia Peace Dollar Guide above, and that is for coins that grading ahas been paid for, though 2 collectors can get a value for less than perfect coins to fill a place in a coin collection they may be trying to fill for one reason or another. coins are graded according to the ANA Grading standards and there are many books available to help collectors determine the proper grading of their coins for value. AS you can see by the peace dollar guide, a very poor coin in G4 or a well worn coin holds about $21 in value since the silver content is high enough to warrant that.

Seated Liberty, Morgan or Peace dollar all have a form of lady liberty on the obverse, no dollar coins were minted in 1918, in fact no Morgan Dollars were minted between 1904 and 1921 All coin silver before 1964 is 90% silver and 10% copper, save the war nickles between 1942 and 1945, which were 35% silver to save nickle for the war effort. however contrary to popular belief, no buffalo or liberty nickles were silver..... only dimes, quarters halves and dollars, though there were a couple other minor coins which have HIGH collector value issued in the later 1800's.

Just because a coin is old does not mean it is extremely valuable, it likely will have more than face worth, but depending upon the number minted and the number still known/assumed available the price may not be all that high.... and also the trend of collectors goes in cycles, for what is hot today to collect may not be so hot in a year or three or five.

I buy coins, and i value estate coins for moth the retail and insurance market values, I also sell a few coins now and again, though i am not a dealer, Ive been collecting for many years.

William
Idaho

__________________
Upon the plains of hesitation bleach the bones of countless millions, who when on the dawn of victory paused to rest, and there resting died.
- John Dretschmer

I'm just going off memory here. My coins are in storage along with my dresser, piano and guest bed.
I know I have a 1918 Liberty walking coin, though a quick search at ebay tells me those are actually half dollars. Quite possible. I've honestly never paid much attention to them beyond just going through to see what they are.
My great grandpa had started the collection about a century ago. Nothing official. Just tossed coins that he liked into a cigar box. My grandma did the same thing.
I got the box when she died a few years ago.

If I remember right, the ones from the 1890s are just heads. What are those called?

__________________
~*~Erin~*~
SAHM, ranch wife, sub and quilt shop proprietress
the Back Gate Country Quilt Shop

1918 was when there was a big silver dollar meltdown and appears that most returned as half dollars. For collectors, 1918 half dollars are about the cheapest of the first 20 years of production for that series. 1919 would be worth twice the 1918. They were "Walking Liberty". Prior to that was "Barber" with the Liberty head.

Martin