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 Replies: 12 / Views: 1,365 |
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Pillar of the Community
United States
581 Posts |
I have been looking around at all the roll searchers remarks about 1/2 dollars and such.
My question, is what do you do with the silver, or even the coppers
Aside from cherrypicking for your collections.
Where do you go to resell the silver pieces and where do you go to sell the copper pennies.
are they just meant to be stockpiled or sold for relatively quick turn around
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Pillar of the Community
United States
2520 Posts |
Silver can be sold just about anywhere that buys silver. Check your local coin or pawn shop. Copper isn't so easy since it's illegal to melt the pennys. Some people are saving them until copper rises again. Some of the others sell them to other collectors and hoarders. I read here recently that one member was selling his for 1.2 cents each. I'm going to sut on mine...I don't think it's worth the effort yet to sell.
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Pillar of the Community
United States
3077 Posts |
i just cashed my copper in for face to get a nice peice of silver its kinda like a piggy bank I get 50 or 75 dollars of copper saved I cash em in and get some nice coins
<edit: I just needed too>
Edited by yotie
07/25/2009 7:44 pm
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Pillar of the Community
 United States
581 Posts |
if it's not legal to melt copper pennies, how is it legal to melt silver coins (1/2 dollars in specific)
Are they not covered under the same laws?
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Pillar of the Community
United States
2520 Posts |
silver coins haven't really circulated for what...35-40 years. They enacted a new law about a year ago ( when copper and nickel prices made it profitable to melt them) making it illegal to melt cents or nickels. I think the melt value of copper cents got up to 2 1/2 cents and nickels got up to around 10 cents. The law was enacted so there wouldn't be a coin shortage.
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Valued Member
United States
240 Posts |
I keep all nickels and pre-1982 cents. I spend everything else.
Right now, I keep all of the silver I run into.
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Pillar of the Community
United States
2049 Posts |
Quote:
silver coins haven't really circulated for what...35-40 years. They enacted a new law about a year ago ( when copper and nickel prices made it profitable to melt them) making it illegal to melt cents or nickels. I think the melt value of copper cents got up to 2 1/2 cents and nickels got up to around 10 cents. The law was enacted so there wouldn't be a coin shortage. I have heard that as well as the cost for the govt to replace pennies and nickels that are melted, exceeds their face value. With dimes and above, the face value is above the production cost, so there is what I believe they call seniorage or profit made in minting them. Someone else may know more about this, but I recall hearing this. |
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Rest in Peace
United States
3730 Posts |
I have an estimated 55,000 pennies (cents). I've never given serious consideration as to what I will do with them.
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Bedrock of the Community
United States
20753 Posts |
Although now illigal to melt down coins, it is also illigal to murder, rob, etc and yet that too goes on all the time. Depending on who you know, where you live, there are metal recyclers that take coins for melting. Once a coin is melted it is rather difficult to tell it was a coin. Many jewlers melt Silver coins for the making of jewlery. Again, difficult to tell a charm bracelet was once a Mercury dime. If they know nothing about coin values, then the by products may be of more value to some individuals. It is rather common for electricians to salvage Copper wires from demo'd job sites and take to metal recyclers and throw in some old piles of Copper coins. |
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Pillar of the Community
Canada
1082 Posts |
Actually, all you really need to melt coins is access to an acetylene torch. A person could pretty much melt them into an ingot shape easy enough, and it would be no big deal to sell the resulting "lump".
I mean, really, who's to know?
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Pillar of the Community
United States
2520 Posts |
I still say "Why engage in illegal activity" when rolls and bags of copper Lincolns can be traded at a profit? In reality you could possibly end up making more sellling to a collector instead of a smelter.
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Moderator
 United States
16679 Posts |
I've got a small casino bucket that I throw all 90% & 40% silver into. When it goes to $50 an ounce (wishful thinking ;-), I cash in!
swcoin.ecrater.com
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Pillar of the Community
United States
1599 Posts |
Contrary to my wife, I keep everything I get my hands on. I keep telling her how valuable some of the stuff is, but her standard comeback is "you will never sell it". She is right. My kids will get all.
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Replies: 12 / Views: 1,365 |
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Posted 07/25/2009 5:02 pm
