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 Replies: 12 / Views: 1,388 |
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Pillar of the Community
 United States
5828 Posts |
Its holed, but I still think I got a pretty good deal! Picked it off the bay for only about $4.25!   |
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Pillar of the Community
United States
4932 Posts |
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Pillar of the Community
 United States
5828 Posts |
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Pillar of the Community
United States
3843 Posts |
Occasionally I come across these types of coins in dealers melt bins and such for a small premium over spot. I'd try to save all of them from the smelter if I could. They are true pieces of our history and should be cherished, not discarded. Good job COTW!
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Pillar of the Community
United States
4932 Posts |
Melting down coins is illegal, Joe. You should report it.
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Pillar of the Community
United States
3843 Posts |
Quote:
Melting down coins is illegal, Joe. You should report it. Fairly sure it is legal. I believe, correct me if I'm wrong, the melting ban applies to modern nickels and cents. |
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Pillar of the Community
United States
4932 Posts |
Edited by CoinHuntingDrew
12/13/2015 11:42 pm
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Pillar of the Community
United States
3843 Posts |
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Pillar of the Community
United States
3843 Posts |
After trying to track down the exact text of the regulation for a while I found this in the Federal Register. If anyone is interested in reading governmental legalese then here you go! Prohibition on the Exportation, Melting, or Treatment of 5-Cent and One-Cent Coins: A Rule by the Monetary Offices on 04/16/2007 https://www.federalregister.gov/art...e-cent-coins |
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Pillar of the Community
United States
2130 Posts |
I have to agree with Joe here....I thought it was fairly common for 1964 and earlier coinage to be melted down. Especially when silver and gold prices are higher.
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Bedrock of the Community
United States
10982 Posts |
Melting 90% junk silver is fine by all. It's done all the time.
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Pillar of the Community
United States
1132 Posts |
The ban is limited to Cents & Nickels. Everything else is fair game.
Back to the OP, You did great! I wouldn't have hesitated on this coin/price./ I picked up a fairly nice (holed) 3 cent silver last month for $12.00
It had much better overall details than $20 examples that weren't "damaged".
Edited by CopperCastle
12/14/2015 10:32 pm
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Pillar of the Community
United States
500 Posts |
Congrats COTW. Nice for the price you paid!
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Replies: 12 / Views: 1,388 |
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Posted 12/13/2015 10:16 pm
