Expert: PAPAJACK - 11/28/2007

Question
My wife is collectying the new states quarters an d bot the big book to store them in.
I heard the quarters to save are the old pre  1963 ones because they have more silver in them and are worth 10x or $2.25cents if melted down for the silver. Some business paid employees in old 25 cent  quarters so they pay no taxes and yet are very well paid after the pay is melted down.
which should be saved?- and who melts them and where?

Answer
Hello David,                          

The Melt value of a coin is a starting point in the intrinsic value of the piece.  
They are not truly melted down unless someone need the silver. Since it is alloyed with 10% copper this is too costly to do on a small scale.
You can sell the pre 1965 circulated silver dimes, Quarters, Half Dollars and dollars to any coin dealer at the current melt value. If they are in collectable condition you will get more than the melt value, it is just a starting point for the price of the coin according to how much precious metal it contains.

The new state Quarters are made in such large quantities that the collectable value is going to remain small. There is no precious metal used in the modern silver colored coins.
These coins are only collected in mint state grades. They are available in these high grades to any collector and the circulated ones that show wear will not be going up in value any time soon.

Thanks for the question, hope to hear back from you soon.

Thank You and Good Luck

PapaJack