Valuing Junk

[ady]

Anyone any thoughts on "junk" silver. Having started collecting with the pre 1920, 3d (particularly) and 6d's. Folks have said these would be recognizable in time of crisis, but really now days how recognizable would they be? Having bought some of these from a LCS where I am sure they were destined to be melted what are the chances of any these being sort as collectables?  From the original mintage numbers would there be any idea on numbers of these are in existence being hoarded or were withdrawn/scrapped?

[Bigmarc]

I'm not sure on the exact law but I don't think you are allowed to melt coins that were deemed circulating currency after 1969. So the life of a junk coin probably permanently exists on eBay. Which I always find strange the fact we are paying for a product based upon it's metal content but it's then unlawful to use that metal that you paid for. Having said that I wouldn't have thought any of the bullion coins get melted down either. Personally I favour the pre decimal. They pretty much sell instantly for the same ish premium over spot that what you bought them for. As for a time of crisis your probably better of having some bog roll and some pasta.

[TommyTwoShots]

I really wouldn’t think twice about melting down any coin to be honest. In fact that is exactly what I’m planning to do as soon as I get my furnace.

[Yetiwatch]

The smaller coins tend to only be worth spot unless a real special date, might be worth getting a book for reference ease, I have Spink's "Coins of England & The United kingdom". Larger coins it is all down to condition (relatively no clue) and production numbers, which is why i tend to buy at weight rather than looking for individual years, really down to whether you are stacking or collecting. 

All that said, i will be buying an Elizabethan shilling this year   

[ady]

Great replies, I started my stacking with these coins and just had them all out. I guess I will be waiting along time for any rarity value to apply unless I have something special already.

[stefffana]

In my opinion, this "junk" coins are the most recognisable and safe investments, because:

1. Are easy to stack, even in buckets, without worries about fingerprints or scratches, milk spots. 

2. Everyone trust in them, there are not fakes (excepting rare and sought after years, especially Crowns).

3. Are very liquid, easy to buy/sell in any quantity with 10%-20% premium for Pre20 and 0%-5% for Pre47.

4. Are very funny to play poker with your friends or to exercise math with your kids.

5. You don't need a safe or vault to keep them. Who will be interested  to see what it is two ugly and dirty buckets under your boiler or in the garrage's corner!

These coins are the best way to stack silver now for long term, even are not looking great and are not shiny. But silver is silver. If it is cheap, hurray!

All the best!

Stefan.

[Murph]

On 28/06/2021 at 23:07, stefffana said:

In my opinion, this "junk" coins are the most recognisable and safe investments, because:

 

2. Everyone trust in them, there are not fakes (excepting rare and sought after years, especially Crowns).

3. Are very liquid, easy to buy/sell in any quantity with 10%-20% premium for Pre20 and 0%-5% for Pre47.

 

 

you would be surprised at the number of forgeries from years ago.

selling them is easy while you have ebay and people willing to overpay but if you try to sell to dealers you won't get any premium and pre 47 50% stuff doesn't give great prices.

[Bigmarc]

14 minutes ago, Murph said:

 

you would be surprised at the number of forgeries from years ago.

selling them is easy while you have ebay and people willing to overpay but if you try to sell to dealers you won't get any premium and pre 47 50% stuff doesn't give great prices.

Buy at spot, sell at spot. Simples...

A flooded 999 market. Not so simples...

[Murph]

With prices are they are at the moment I haven't bought much at all lately.  almost jumped at a hgm notification for £600 and something thinking it was a 10 dollar this morning only to notice it was a 5 dollar indian head.  Crazy.  A bit over the spot price for a 10 dollar for a 5 dollar coin.  Then they had a 10 dollar for over £1100 just after.

[Yetiwatch]

1 hour ago, Murph said:

 

you would be surprised at the number of forgeries from years ago.

selling them is easy while you have ebay and people willing to overpay but if you try to sell to dealers you won't get any premium and pre 47 50% stuff doesn't give great prices.

I have a lovely fake pre47 Half Crown, so easy to tell it's fake but sometimes they fall into the bag on batch deals, with something worth so little people don't check as vigorously  

Totally right on dealers giving you a raw deal, just because the costs are more for the smelting, but easy to achieve spot on the forum or a premium on Ebay (especially individual listings or smaller batches).

Edited June 30, 2021 by Yetiwatch

[Arganto]

I fear the days of readily available cheap pre-1920 coinage may be ending (unless you are in the biz and have contacts that buy and sell big weights). The desirability over the later, less pure stuff plus the fact that it is recognisable silver and sometimes has numismatic value (whether real or perceived) means it's a bugger to find at spot or thereabouts. 

Please prove me wrong by providing links 😜

I'm a bit dubious over stacking loads of .500. I like the coins, have a few little piles and I will never turn down a fantastic deal, but stuff like Sterling or .900 Yankee metal feels like a better bet to me instinctually.

[Bigmarc]

5 minutes ago, Liam84 said:

I fear the days of readily available cheap pre-1920 coinage may be ending (unless you are in the biz and have contacts that buy and sell big weights). The desirability over the later, less pure stuff plus the fact that it is recognisable silver and sometimes has numismatic value (whether real or perceived) means it's a bugger to find at spot or thereabouts. 

Please prove me wrong by providing links 😜

I'm a bit dubious over stacking loads of .500. I like the coins, have a few little piles and I will never turn down a fantastic deal, but stuff like Sterling or .900 Yankee metal feels like a better bet to me instinctually.

I think sellers on eBay really need the £1 max listing fee to make to worth while, they seem to have stopped them, for me anyway.