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melting down

鋳つぶし ／ melting-down　—　Making

Melting a coin back into a lump of metal.

Clipped 4 Reales Clipped 4 Reales16th century Cob eight reales (macuquina) Cob eight reales (macuquina)17th century (reign of Philip IV) Free Imperial City of Frankfurt, One Thaler, 1772 Free Imperial City of Frankfurt, One Thaler, 17721772
A real specimen of the related term “bullion”.

If the intrinsic value becomes higher than the face value, it is more profitable to melt the coin down. In this way, good coinage disappears from the market. ⚠ Melted coins do not survive as historical records. This is why the quantity in circulation cannot be estimated from the "number of surviving specimens".