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 Replies: 16 / Views: 3,179 |
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Valued Member
United States
62 Posts |
I was at a couple different silver bullion sites and compared to buying silver bullion, 90 percent silver lots on ebay seems to be a real nice deal. My question is why is the price so different? To piggy back on that, whats to stop me from buying a bunch of 90 percent silver and melting it down myself, assuming I found a local die cast operator to do it (and I would have no problem finding one). Would my 1 ounce bars be worth all that less than the 100 percent bars? |
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Pillar of the Community
United States
1150 Posts |
Junk silver goes for less because it has less numismatic value.
And nothing is stopping you from melting it yourself. Except, the reason people buy junk silver is because it is readily recognizable and the weight and purity is guaranteed by the mint.
Your unrecognizable silver bars wouldn't be. ;)
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Pillar of the Community
United States
3294 Posts |
That and the fuel needed to melt the silver wouldn't be free either, so you would have to pay to get it melted.
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Pillar of the Community
United States
672 Posts |
You could, but they are worth more as junk silver. If they are not in coin form they need to be assayed.
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Valued Member
 United States
62 Posts |
Appreciate the input fellas.
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Pillar of the Community
United States
2661 Posts |
Cost of 90% silver + melting costs + assay fees = a losing proposition.
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Pillar of the Community
United States
1510 Posts |
melting = destroying history  Retired USAF 1983-2003
Edited by Coinstar
06/06/2011 7:25 pm
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Pillar of the Community
United States
3184 Posts |
90% is my favorite way of stacking! Less premium than vs silver eagles, etc and you get a piece of history along with it!
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Valued Member
United States
397 Posts |
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Pillar of the Community
United States
526 Posts |
I have two different categories of "Junk" silver. One that I am collecting to supplement my retirement (Proof sets, Mint Sets 1960-1964) and then "History" Coins for numismatic value. The Barber series, Walker, Bust, Flying Eagle cents, "V" Nickels and so on. These I will keep until I have to turn them in. I also collect Mercury dimes in 2X2 along with Morgan dollars, don't care much for Peace dollars. Also I try and snag at least 1 Gold coin (Not Bullion) every month, be it a quarter/half/eagle/double eagle/st. Gaudens. The Gold will be for retirement as well. 14 years to go...  |
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Pillar of the Community
United States
1348 Posts |
unless the coin is worn to the nub I do not consider it junk
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Pillar of the Community
United States
526 Posts |
Quote:
unless the coin is worn to the nub I do not consider it junk It is just a term to distinguish between bullion and coinage made from silver. |
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Pillar of the Community
United States
500 Posts |
I was recently told it is illegal to melt down US silver coins - unless the date is worn completely off. Don't know if that is true, but it sounded plausible.
Of course the no good lying thief was also using that tidbit to try to get me to sell him my "junk silver" at 10X face value too. I reported him to the BBB. He claimed "melt value" was a myth and that 8X-10X was a fair offer but he'd "give me" the 10X as a "gift". I got 24X elsewhere - after silver had dropped $5 an ounce from when he offered me 10X.
There are a lot of sleazy rip-off types out there!
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Pillar of the Community
United States
1348 Posts |
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I reported him to the BBB. I agree 100% |
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Bedrock of the Community
United States
12437 Posts |
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I was recently told it is illegal to melt down US silver coins You were told wrong, nothing currently illegal about it at all. However, it was once illegal from 1967-1969. |
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Pillar of the Community
United States
2120 Posts |
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unless the coin is worn to the nub I do not consider it junk I like to call it classic silver. I consider junk silver to be flat ware, unimpressive jewelry, novelty rounds and bars, etc. Might just be me though. :D |
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Replies: 16 / Views: 3,179 |
Posted 06/06/2011 5:13 pm
