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Gold/Mining/Energy : Silver prices
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To: Ray Hughes who wrote (1083)5/6/1998 9:29:00 PM
From: Alan Whirlwind  Read Replies (1) of 8010
 
Ray, I would suppose a lot of that antique silver is too collectible right now for smelting anytime, but you may be right about the coins. We did melt a large number of ours 25-30 years ago, but then again, I see plenty of Canadian silver coins available at shows. Then too, when silver was $5 or under, it found its way back out there again in many recyclable forms I'm sure. This market is so jittery any new temporary source could tank it on a dime. I heard Golman Sachs dumped a position this week incurring our present losses. Come to think of it, before plating the silver was used close to its pure form, 90% or better, so an antiqe piece weighing a pound probably would get smelted at $9 or $10 an oz. --Al
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