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Replies: 17 / Views: 3,067 |
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Valued Member
Canada
496 Posts |
How much bullion value is in a nickel quarter ? and dime
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Pillar of the Community
 Canada
9862 Posts |
About 6.5 cents and 2.5 cents.
"Dipping" is not considered cleaning... -from PCGS website
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Valued Member
 Canada
496 Posts |
Thanks,think I will stick with hoarding the 1 and 5cents
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Pillar of the Community
United Kingdom
837 Posts |
Quote: Thanks,think I will stick with hoarding the 1 and 5cents Did that answer put you off ? Who knows were nickel prices would be in a few years from now ... dont be put off by current prices ! I think if you start hoarding nickel quarters now it will eventually pay off  - trust me on this one 
Edited by DaytR 01/10/2014 2:21 pm
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Valued Member
Canada
178 Posts |
It's also pretty hard to hoard 1 cent coins now. Where are you going to get them from?
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Pillar of the Community
United States
1234 Posts |
I've got a bunch of them and it grows all the time, I get Canadian cents in my coin rolls here in Montana all the time. No question for me to save them, I can't spend them here. Interesting how American collectors might end up with more than the Canadian collectors, I'd say save as many as you come across.
Edit: spelling/grammar
Edited by ASLAN TVorlon 01/10/2014 3:26 pm
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Pillar of the Community
Canada
3690 Posts |
For those of us in Canada, is there a point to hoarding coins for metal value? Isn't it illegal to melt them (unless you are the government)? 
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Pillar of the Community
Canada
3049 Posts |
I know I can take my silver coins to my LCS and get at least silver melt price for them... what they do with them I don't know but I'm getting paid melt price that's not too bad.
I think the time will come when the penny will have a melt price as well... I don't exactly have large buckets and bins of them myeslf... at tops perhaps 20 boxes... and I'm happy with that. If I can.. I'll melt them.. otherwise just get rid of them if I ever need the money.
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Pillar of the Community
Canada
3690 Posts |
I think coins shops use the RCM to melt silver coins so I suppose at some point in the future, that could happen with copper and nickel. I guess the 64 thousand dollar question is how long will that take and would we just be better of investing the FV of those coins now.
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Pillar of the Community
United States
1234 Posts |
I never could understand the idea of trying to melt down coins. One thing I did see said if an American melts down Canadian cents they will most likely not get arrested for it, unless they go to Canada as a known melter  I can justify the expense of coin roll hunting more than 2 ounces of silver tons of Canadian and other world coins, plus a little bit of gas and time. But can anyone even think about how much the melting would actually take. How would you melt them? Wood, charcoal, coal, welding torch, Industrial Blast furnace? About LCS melting down silver coins I really hope they are only sending in the worst most dingy coins, and checking for key dates. You would assume if they have stayed in business that they would knew to do that. I just picked up several coins from the cull bin at my LCS and some of them are beautiful. I don't want people to solder gold coins on to necklaces but one thing the older US cents and nickels are used for is jewellery and souvenirs. bought and sold in bulk and picked over by dealers and collectors. I see no reason for this to not continue as content and design changes again.
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Valued Member
 Canada
496 Posts |
OK DaytR,I'll trust you they are just sitting there anyway.
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Pillar of the Community
United States
1247 Posts |
In Canada you can melt U.S. copper cents. a pound of copper is $1.52 US. Copper is worth $3.38 per pound US. Do the math... In the US you can melt Canada copper... It is just illegal to melt YOUR currency in YOUR country.
In the US it is illegal because of the price of copper. Every other coin you can melt as you please.
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Pillar of the Community
United States
1234 Posts |
And of course melting will create key dates which is great for any one hoarding them.
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Valued Member
Canada
118 Posts |
Our local LCS's in Vancouver send in silver to the mint for melting.
The most recent discussion I had with one was about sending in Canadian Olympic silver coins, for which they were breaking open plastic covers before sending them in.
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Pillar of the Community
 Canada
9862 Posts |
Very few circulation silver coins are melted. Demand for physical silver is still high, most dealers can readily sell all the 80% silver they receive at $1-$2 above melt per dollar face value.
"Dipping" is not considered cleaning... -from PCGS website
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Pillar of the Community
Canada
2805 Posts |
Quote: The most recent discussion I had with one was about sending in Canadian Olympic silver coins, for which they were breaking open plastic covers before sending them in. No way! I love those coins. I would happily buy one of each at melt (...if I had the money).
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Replies: 17 / Views: 3,067 |