As a lifelong collector, I began as many of us did by collecting pocket change when I was a kid.
Occasionally, I would find the odd silver dime or 12 sided nickel and I would set it aside. Back in the 1980s, I didn't have enough money to collect paper money, although I did put aside the occasional multicolour $1 and $2 because they were being phased out.
When I went to the bank with my mom, the friendly teller would bring me behind the counter and let me pick through the loose change in the drawer. Occasionally, I would find a silver dime, quarter or if I was really lucky, a silver 50c piece or silver dollar along with the nickel version of these coins.
With today's rush to cash in on the rising price of silver, many people are selling their circulated silver coins for scrap. The selling frenzy has caused people to break up uncirculated sets, to smash open acrylic decorative pieces, and to raid the family silverware in search of a quick buck. People are failing to see beyond the dollar signs in their eyes.
I have heard reports that many people are scrapping silver coins from 1935-1968 in not only the lower grades, but up to and including AU58 to MS60. This development is alarming because if this continues, the amount of entry level silver coinage will be greatly diminished.
As a country, we risk losing little pieces of history because Newfoundland silver coinage, as well as Canadian silver coins dating all the way back to the reign of Queen Victoria is all on the chopping block, headed for the smelter as are family heirlooms.
As collectors, where will the next generation get their start if most of the coins on the market are MS60 or better?
Some will see the cull as good for the market since most lower grade coins will be gone but I believe that we also have a duty to preserve silver coins in all grade ranges for the future.
I know that I will always have a stash of circulated silver to pass down to my family since I have no intention of selling it.
Fellow collectors: What do you think? Should silver coins of all grades be preserved for posterity?
Dean
