scrapping coins

Is it sacrilege to scrap worthless coins ?

That's a hot button topic for many. The coin market has been grossly distorted by the rise in PM prices especially silver. Sadly, not all the coins being melted are worthless. Having said that, I don't believe that anything other than a small percentage actually gets melted, it just passes through the hands of "investors" in it's current form.  The problem for collectors is that while these coins remain in the portfolios of the stoopids there are NOT passing through the hands of collectors, causing artificial demand and scarcity.

I have a cigar box with junk silver coins in it, they are holed, bent, worn and of no collectable value. It's not unusual to have to buy coins in lots to get the one or two I really want. Inevitably I get a lot of coins I don't need. some of which I trade here for ones that I do. The genuinely worthless culls I put into several vintage money boxes for the first of my grandchildren to show an interest in collecting.

If the price of silver ever reaches $100 an ounce as is being widely touted then I may sell the junk silver coins but as they have zero value as coins I wouldn't regard it as sacrilige.

I have a box of junk coins that I've been setting aside for a while. Most of them are common coins with some sort of damage that makes them useless for collecting. I haven't decided what I am going to do with them yet.
I do have a few coins that are holed  in my swap list in case anyone wants a place filler or the such.
I make sure that I include a note so that anyone looking at it knows that it has been damaged.

Most people shy away from coins that have been holed, I guess, but I have a few in my collection and enjoy them as much as any other coin until I find a better coin to replace them.

As far as scrapping goes, I wouldn't do it unless the coin was in such bad shape that it wouldn't even be a decent spot filler. Coins that are badly damaged or worn beyond the point that they can be IDed are scrapable as far as I concern, but I guess everyone has to decide for them selves.

Quote: alastairIs it sacrilege to scrap worthless coins ?

No. But define worthless! If I come across a haevily corroded French 10 centime, it goes straight in the rubbish bin, as fo basal coins (identifiable only that they were once a coin, nothing more recognisable).

Matt

Worthless to me is something that has no cash value, i do except that people may be willing to pay 20p for a coin but if you have several thousand of them its not practical to sell them individually. Im also aware that demand for none precious that coins have been made of. having said that i do not like to  scrap coins that are worthless with low mintages.

Old useless 1 penny coppers UK are put in the garden around delicate plants  to keep the slugs and snails away. It only works with Copper.
Keeps my wife happy.

My policy is do not keep junk. The only value in keeping junk silver is to sell when the price is right.

Just remember one persons trash is another's treasure. I'm just starting my collection so things you think are trash might be really interesting to me!

What about the people who make Jewelry out of really nice coins?  what do y'all think of that?  there is a guy swapping on numista that hammers coins into rings, is that a sacrilege?

  As far as melting worthless coins if enough people did it they would go up in value, or if enough people got into coin collecting as a hobby there would no be enough French 10 centime to go around. I don't think its bad to melt worthless coins.