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 Replies: 26 / Views: 3,648 |
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Pillar of the Community
United States
2200 Posts |
Many collectors are concerned with "melt value" when determining whether or not to keep a coin or buy it.
In reality, what does this actually mean? Does it mean you'd determine it's a good time to melt your coins, and actually melt them and then sell the raw material to someone? If so, who would buy it? And who does the melting?
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Pillar of the Community
United Kingdom
2624 Posts |
I took a few sovereigns to a bullion dealer for melt when I was under a bit of pressure... they just give the melt value (they may or may not physically have melted as they saw fit) I physically melted a cartwheel two penny once... just as an experiment to make wood grain metal which was only partially sucessful.  |
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Pillar of the Community
 United States
2843 Posts |
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Rest in Peace
10197 Posts |
I always thought it was illegal to melt down US gold/silver coinage (even copper?), was considered "destruction of gubmint property...may be wrong because have heard of dealers "junk silver" bins being "picked up by metal recyclers". What really is done with those junk silver coins, in the pot with jewelry and tableware?  |
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Pillar of the Community
United States
634 Posts |
It is legal to melt any coins except modern pennies and nickels. Those were only make illegal to melt as of 2006ish.
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Valued Member
South Africa
331 Posts |
Oh yes a few times
Experimenting as always
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Pillar of the Community
United States
1888 Posts |
No, but I did put more than a few pennies and nickels on train tracks when I was -much- younger.  One of my regular sources sends all his non-USA junk silver coins that do not sell within a reasonable amount of time, off to a local smelter who then turns them into 1 oz. silver bars. |
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Moderator
 United States
187950 Posts |
It is not illegal to melt coins (except cents and nickels). They are not government property. Just because it has melt value does not mean it has to be melted when sold for that value. I have never melted a coin. I think that answers all of the questions.  |
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Rest in Peace
United States
17900 Posts |
Melt value is only of consequence if the coin value is close to the metal value, as opposed to the collector value. A good example of this would be the 1964 Kennedy half dollar. The only way they are worth a decent sum is if they hit an MS-66 at PCGS or NGC. Typical circulated or low un-circulated grades for that issue will never likely be worth much more than the melt value because there is so very many of them compared to the collectors who want them (EXCEPT for those bulking on bullion). Melt value has it's place in relation to FACE VALUE, too. Typically most dealers offer an X rating for what they pay over face value, rather that "melt" value. They might buy "junk" 90% silver at 12X face and sell it at 14X face. |
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Pillar of the Community
Norway
1358 Posts |
I've never melted a coin. Will never melt a coin either. It's a form of blasphemy.  |
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Pillar of the Community
United States
1911 Posts |
My LCS melts whatever they don't sell from their foreign/junk silver bin. I seem to be the one that buys most of anything that goes in there so when I haven't picked through for a week or two, they send it off for melting. Some cool things in there that I may have missed but are no longer around...
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Rest in Peace
United States
18456 Posts |
Yes , I have melted many Chocolate coins in my time .  |
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Moderator
United States
187950 Posts |
Quote:
I've never melted a coin. Will never melt a coin either. It's a form of blasphemy. Agreed! The reason why I keep all of my 95% copper cents is not for future profit, but to prevent them from being melted.  |
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Bedrock of the Community
United States
12477 Posts |
Jamiroquai!  DavidUK Quote:
Yes , I have melted many Chocolate coins in my time Were they solid or clad?  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
6130 Posts |
I have always wanted to see if it's true that you can melt a zincoln in a camp fire.
Never have melted anything myself, although as I mature in my studies I am seeing less and less issue with melting common, low grade coins less than 100 years old, provided they are common enough.
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Bedrock of the Community
Canada
24885 Posts |
No, I never melted any coins.
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Replies: 26 / Views: 3,648 |
Posted 06/20/2017 1:07 pm
