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 Replies: 27 / Views: 3,584 |
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Valued Member
United States
104 Posts |
So I have a question
I see a lot of post where people are talking about buying things at melt.
How do you know what the melt value is?
Where do you buy things at melt price?
And can you actually melt coins for their silver, copper, gold? I thought it was illegal.
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Pillar of the Community
United States
3453 Posts |
My favorite place to look is (124) Not Allowed - Auto-Removed .com. You can see the value of the silver / gold in each of the coins. But remember that is a relative term because if you were to take these to a smelter to have them actually melted, you would pay a fee to have that done or they would give you less than melt since there is labor included with it. When I think of melt, I do think of the cost of the silver in the coin since I personally do not have coins melted down. EDIT: Sorry mods! Whew, thankfully the filter kept me safe  Edited by CoinsKelly
01/04/2013 10:25 pm
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Bedrock of the Community
13014 Posts |
Google coin melt value and you can find calculators for it. But if you know how much silver each coin holds you can approximate knowing the current spot price. You can buy coins at melt a lot of places its referred to a junk silver usually, ebay has a bunch of listings for it. You can melt them if you want most hang onto them and then resell as if they want the money from them |
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Moderator
 United States
14463 Posts |
on the menu on the left is "Spot Prices". For example: this shows the market value for an ounce of gold. That would be about melt for a gold double eagle. From that, you can figure percentages, is half ounce, quarter ounce and so on
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Pillar of the Community
United States
1391 Posts |
Most people use the term 'melt' to mean buying or selling at the value of the commodity the coin is made out of.
For the most part, in the United States it is not illegal to melt coins or destroy currency. It is illegal to counterfeit or alter a coin with the intent of deception. There is a current ban on melting copper cents and nickels.
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Valued Member
 United States
104 Posts |
Ok so I guess its the pennies I was thinking about it being banned to melt them.
Thanks
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Valued Member
United States
360 Posts |
I'm pretty sure it is illegal to melt pennies and nickels. Dimes and quarters, I have no idea.
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Bedrock of the Community
13014 Posts |
Its just pennies and nickels as far as I know and thats only because of the cost of replacing them. If you melt dimes and quarters youre actually doing the mint a favor since they make a profit replacing those
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Valued Member
United States
104 Posts |
Thanks for clearing that up for me guys.
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New Member
United States
4 Posts |
How do you determine when a coin is not worth "saving" and sell it for the silver content? I have 5 silver dollars (1880's - 1930's) which, due to condition, a local collector said I would be lucky to get $10 a piece if sold as a coin. Condition is meaningless to a melter, and I can get around $22 each if I sold them there. I do not want these particular coins and $22 each sounds better to me than $10 each!
Comments, please!
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Pillar of the Community
United States
3453 Posts |
Post here if there are any questions on varieties (which could drive up the numismatic value); otherwise sell to the buyer with the highest price  |
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Pillar of the Community
United States
2543 Posts |
As of this morning Morgans and Peace dollars were worth $24.78 melt. Throw them on Craigslist or such for $30 and bargain down to $25 if you have to. Plenty of people out there collecting album fillers or just junk silver. |
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Bedrock of the Community
United States
20753 Posts |
So called Melt value is rather missleading. IF Copper was a dollar an ounce, just saying, and that is what is noted as Melt, try selling it for that. Same with Silver or Gold. You see places everywhere that say we buy Gold. If Gold's Melt value is $1200/ounce, no one will give you that. You might be offered $800, $900 etc. but not the so called Melt value. You could take Silver coins to many places and see if they would give you the so called Melt value but highly unlikely. Melt values are always given somewhere but it is really difficult to get that for Copper, Silver, Gold, etc.
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Pillar of the Community
United States
950 Posts |
I dont see why people melt coins into bars and whatnot anyway... it costs money to process then you have to convince people that what you have is legit if you ever want to sell it. Coins are a nice way for the buyer to determine the value and authenticity since counterfitting a coin to sell it at melt value (for silver anyway) isn't really with it. Quote:
How do you determine when a coin is not worth "saving" and sell it for the silver content? I have 5 silver dollars (1880's - 1930's) which, due to condition, a local collector said I would be lucky to get $10 a piece if sold as a coin. Condition is meaningless to a melter, and I can get around $22 each if I sold them there. I do not want these particular coins and $22 each sounds better to me than $10 each!
Comments, please!
Even if they went through a blender at one time you should be able to get WAY more than $10 each. At least $25 like denco7 said. I havent seen a morgan go for less than $29 lately.. even with silver prices what they are. If you are still looking to sell them, I'm sure someone here would be interested in buying them. *Ahem* |
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Bedrock of the Community
13014 Posts |
Quote:
I dont see why people melt coins into bars and whatnot anyway... it costs money to process then you have to convince people that what you have is legit if you ever want to sell it.
Coins are a nice way for the buyer to determine the value and authenticity since counterfitting a coin to sell it at melt value (for silver anyway) isn't really with it. Some people like bars better, but storage is a major reason too. A lot of people would rather have a couple 100 ounce bars than say a garage full of dimes. Resale also comes into play too, even though you spend some money making a bar its much easier to resell that than the same amount of quarters or dimes that would be needed to make the bar |
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Moderator
United States
187654 Posts |
Quote:
A lot of people would rather have a couple 100 ounce bars than say a garage full of dimes. Given the choice, I am taking the dimes. Maybe I am an odd duck, but I am okay with that. |
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Replies: 27 / Views: 3,584 |
Posted 01/04/2013 10:27 pm
