WHATS LEFT IN SILVER COINS?
Ed Reiter – January 19, 1999 Normally, the value of a coin is based on how many were made. In years to come, however, the value of silver United States coins may hinge to a greater extent on how many were lost. Millions have been melted for the recapture of their metal, and the impact on coin collecting — while still not fully gauged — is likely to be great as time goes by. Most of the melting took place in 1979 and 1980, when silver bullion soared to an all-time high of $50 an ounce. At that point, common-date silver coins were worth far more as metal than as money or collectibles. Even scarcer items could be melted at a profit. The value of silver has plummeted since then. In recent weeks, it has hovered around $5 an ounce and the melts have been reduced to a virtual standstill. Nonetheless, the shape of the coin market has been changed dramatically by the earlier melts, and the future course of the hobby — for better or worse — has been altered permanently. There is, of course,
