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Canadian Silver Dime And Quarter - To Melt Or Keep/Sell? Are There Criteria?

 
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Author Previous TopicReplies: 14 / Views: 1,133Next Topic  
New Member
Canada
12 Posts
 Posted 09/23/2022  11:37 am Show Profile   Bookmark this topic Add PokeyCC to your friends list Get a Link to this Message
Hello,
First post here, but have inherited a few pounds of silver dimes and quarters many in horrible condition.
However, are there criteria to help me with the decision to melt or not? If there is no date visible but edges still ok, is it a keeper?
I have some that are completely shiny and the literal "thin dime" from so much wear, so even though the monarch shows clearly, I am not sure they are worth keeping.
Here are 4 dimes that I would consign to the melting pot but advice is most welcome! Thank you in advance.

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United States
2454 Posts
 Posted 09/23/2022  12:07 pm  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply

Just to clarify, are you looking to melt them yourself?
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United States
3481 Posts
 Posted 09/23/2022  12:18 pm  Show Profile   Bookmark this reply Add matthewvincent to your friends list Get a Link to this Reply
Criteria?
Simple. If you cannot identify a coin's date and type then it is fodder for the smelter.
You posted a few of the worst.
How about few of the best?
Let's see if there are any keepers among the group.
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United States
73559 Posts
 Posted 09/23/2022  1:28 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Assuming they're all common, then basically it depends on your outlook for silver prices.



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118533 Posts
 Posted 09/23/2022  1:40 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
to the Community!

Your post was moved to the appropriate forum for the proper attention.
New Member
Canada
12 Posts
 Posted 09/23/2022  1:55 pm  Show Profile   Bookmark this reply Add PokeyCC to your friends list Get a Link to this Reply
Thank you so much for the feedback. I am not looking to smelt anything myself, but rather just going through the hundreds of coins and doing a first pass to cull the obvious duds (silver content only).

Then I will take a much closer look at the coins that pass muster and decide what to do with them. There are some in quite nice condition, although the Edward VII coins are in really bad shape as are the couple of Victoria's in the bunch.

The collection is all circulated coins: dollars, 50 cents, 25 cents, dimes, nickels, pennies....as well as some Newfoundland silver. I am going to have fun, and I know where to post questions and photos now, so thank you!

Here are a few in the collection that are not in such bad shape.


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Canada
4564 Posts
 Posted 09/23/2022  3:17 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
The scrap silver price for Canadian silver after 1920 (.800 fine) is about $16.00 for each dollar or coins adding up to a dollar. A dealer will give you about 90% of scrap if you sell to him, maybe a little less if the coins are really worn (and no longer contain the silver they were struck with). Each dollar or face dollar contains 0.6 troy oz. So take the world price for Ag (that's from NY and US$$) and multiply that by 1.34 (the Cda/US exchange rate) and multiply by .6 and that will give you the day's price in Cdn dollars.

Then get a Charlton or Haxby Canada coin guide at a store or Ebay from any of the last 5-6 years and see what's scarcer and what's not. You'll need to learn how to grade but each of theose books has a good grading ID in the front. Or you can go to this site and get a full inflated retail value. You may be able to get 40-50% of what's in any guide, unless it's a scarcity.

http://www.coinsandcanada.com/coins-prices.php

You can't sell a cin to any book or guide .... you need a person. Don't believe any price that you see in any book. You'll never get 70% of what's on paper and usually less, unless it's scarce or upper grade.
Edited by okiecoiner
09/23/2022 3:21 pm
New Member
Canada
12 Posts
 Posted 09/23/2022  3:43 pm  Show Profile   Bookmark this reply Add PokeyCC to your friends list Get a Link to this Reply
Great information. Much appreciated.
This feels like a good winter project for me :)

To date I have really only collected NCLT, but stopped around 2016 because I was spending too much, so this foray into circulation coins will be interesting.

Cheers,
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2454 Posts
 Posted 09/23/2022  6:16 pm  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
I personally vote to not melt anything. But if I had to, I'd melt the ones that are worn to barely recognizable as a type. If it has a date, I would never melt it. Have fun!!
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Canada
56 Posts
 Posted 09/27/2022  5:06 pm  Show Profile   Bookmark this reply Add Beaver22 to your friends list Get a Link to this Reply
Please don't melt the coins unless there's no other way to sell them. I suggest you keep them.
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Canada
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 Posted 09/29/2022  3:47 pm  Show Profile   Bookmark this reply Add North of 49 to your friends list Get a Link to this Reply
I have to say that I very much agree with jacrispies and beaver 22. I hate the thought of destroying any coin where the date is still legible. As a collector , I guess it just rubs me the wrong way.
But it is your coin , and this is just my opinion.
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Canada
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 Posted 09/29/2022  3:52 pm  Show Profile   Bookmark this reply Add PokeyCC to your friends list Get a Link to this Reply
I would never melt anything for which I can make out the date! My question was about the ones in my first post where nothing can be discerned. My second post showing some better coins...well those aren't going anywhere and staying in my collection :) Sorry if that was not clear.
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Canada
1105 Posts
 Posted 09/30/2022  07:43 am  Show Profile   Check JohnWayne007's eBay Listings Bookmark this reply Add JohnWayne007 to your friends list Get a Link to this Reply
Melting them would be pointless, not only do they have a set face value, it's also illegal in Canada.

Even if it were to be legal, its still not ideal, I melt silver, copper and gold and for silver its common practice to not bother melting anything less than .925 purity unless you can confidently provide proof of purity.

If you melt down a few ounces of .800 or .900 silver that had a recognizable face value, how will you prove that the contents and purity are legit once melted, so now you just incurred melting cost, testing cost, shipping costs to/from melter and tester if one isn't locally available to you, an thats just if you cant find anyone local.

Long story short, if it was intended for circulation an has a face value or even just a recognizable obverse/reverse regardless of wear, you are more likely to sell them as "Junk Silver" at melt value before seeing any elevated premiums after melting.
Searching Canadian Small Cents daily since 2018.

Some of my Discoveries.
1941 Georgivs VI 1 Cent DDO http://goccf.com/t/367977
1951 Georgivs VI 1 Cent DDO Type 2 http://goccf.com/t/363635
1976 Queen Elizabeth II 1 Cent DDO Type 1 http://goccf.com/t/373627
1976 Queen Elizabeth II 1 Cent DDO Type 2 http://goccf.com/t/408163
1989 Belize 25 Cent's DDR http://goccf.com/t/362747
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4564 Posts
 Posted 09/30/2022  11:32 am  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
I never meant to physically "melt" the coins, rather I was giving scrap "melt" value if selling to a dealer that routinely sends silver to be melted. If there are coins where you can read the date, then keep them, whatever. I was just giving the OP the knowledge that, if he sells them, to not take less than the "scrap silver melt" value for the coins. Give me a break with my verbiage.
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Canada
1105 Posts
 Posted 09/30/2022  3:01 pm  Show Profile   Check JohnWayne007's eBay Listings Bookmark this reply Add JohnWayne007 to your friends list Get a Link to this Reply
Okiecoiner, my comment wasn't directed towards you, it was more directed towards the OP as his/her post and comments made it sound as if he had plans on trying to melt them, in that case it would not be beneficial to him/her an would only be beneficial to who melts and tests it afterword as the fees attached to that kind of service is not worth it in the end an would need to be done on somewhat of a large scale (50lbs minimum) just to offset total costs for the entire process.
Searching Canadian Small Cents daily since 2018.

Some of my Discoveries.
1941 Georgivs VI 1 Cent DDO http://goccf.com/t/367977
1951 Georgivs VI 1 Cent DDO Type 2 http://goccf.com/t/363635
1976 Queen Elizabeth II 1 Cent DDO Type 1 http://goccf.com/t/373627
1976 Queen Elizabeth II 1 Cent DDO Type 2 http://goccf.com/t/408163
1989 Belize 25 Cent's DDR http://goccf.com/t/362747
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