About Melt Silver Coin - Coin Community Forum

To participate in the forum you must log in or register.

Author	Replies: 7 / Views: 1,672
Minhsun Valued Member Canada 74 Posts	Posted 08/08/2012 03:11 am I got a Question. If I want to Melt the Silver coin in-order to get higher amount of cash compare to sell it to a coin dealer. where should I go? to find the melting place ? Can anyone help me out here. Report this Post to the Staff

Williamsonj320 Pillar of the Community United States 538 Posts	Posted 08/08/2012 03:52 am I'm no expert but I believe you would get more money if you sold the coin as is instead of melting it. First it will cost you to have a refiner melt down the coin. Second people will pay a premium for a coin that is less likely to be fake and contain a specific amount of silver as opposed to a random bar or round. Plus I don't think many people on this forum melt coins, kind of goes against our collecting genes. Some people may have scrap jewelry or silverware melted down though and they may be able to help you out. But I would still urge you to look into selling the coins as is instead of melting them. I honestly think you would get more money that way. Sell them yourself on ebay or a local coin club avoid those "we buy gold and silver" folks though. Report this Post to the Staff
Williamsonj320 Pillar of the Community United States 538 Posts	Posted 08/08/2012 03:54 am What is the coin? And if you can provide photos we may be able to give you an idea of its worth so you have a starting point. Report this Post to the Staff
john100 Pillar of the Community Canada 5324 Posts	Posted 08/08/2012 09:33 am its also illegal for a canadian to melt a canadian coin, the dealers ship the coind to the states to melt and viceversa. Report this Post to the Staff
swrbxxx Pillar of the Community Canada 834 Posts	Posted 08/08/2012 10:06 am John100, Untrue I know a ton of canadian dealers who send to a refinery in the GTA area to have their junk 80% coins melted down, me included. Minhsun, There are generally minimums when melting down Canadian coins to get the best price you need larger amounts $500 FV usually gets you spot -10% $1000 FV usually spot -5%. Unless you have a large amount your best bet is putting them up on kijiji you will more than likely get spot. Report this Post to the Staff
IndianGoldEagle Bedrock of the Community United States 36839 Posts	Posted 08/08/2012 10:13 am I believe there is a minimum amount the refiner will take. You should be able to get more by selling it as a coin than you will melting it. Report this Post to the Staff
john100 Pillar of the Community Canada 5324 Posts	Posted 08/08/2012 10:30 am just go onto the mints site on faq you will find all legal tender coins of canada are illegal to deface or melt, I believe usa has a similar rule, just be careful if you are melting canadian coins in canada. Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 08/08/2012 11:23 am Quote: I believe usa has a similar rule The current ban only covers cents and nickels. Although a silver melt ban was in place for several years in the 1960s, it is now perfectly legal to melt US silver and gold coins. Report this Post to the Staff
	Replies: 7 / Views: 1,672

To participate in the forum you must log in or register.

All Forums Category: Canadian Coins and Currency Forums Forum: Canadian Coins and Colonial Tokens

Silver Gold Bull US is the United States leading bullion dealer. We deliver gold coins, gold bars, silver coins, silver bars and precious metals to your door. Order today!

The First Dollar, your premier source for bullion and rare coins. See our bullion list on the site and the coin inventory on ebay.

View Last 100 New Topics

View Last 100 Active Topics

Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us | Advertise Here | Privacy Policy / Terms of Use

Coin Community Forum

It took 0.23 seconds to rattle this change.