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Ray, I bumped into an interesting story to confirm your analysis. A friend of mine owned a coin-operated laundry in the seventies, and when the value of silver in pre-66 coins began to exceed the face value of the coinage in the mid- to late-seventies, she began to cull the silver out of the takings every night. I remember this because I was a teenager, a friend of her son, and she would have these silver sorting parties. I bumped into her a few months ago, and we were talking about old times, and these sorting parties came up. Anyway, here's the punch-line: she still has all the silver. She never sold a dime of it; she held it right through the bubble of 79/80. The face value must be in the thousands. Anyway, as you point out, no one knows how many hoards of silver coins are out there like this one. If the price spikes, silver like this will come back into the market and help meet the demand for silver. |
