Melting Silver Coins?

JJtheRollHunter · Oct 4, 2009

Isn't it illegal? If not, I don't understand wy anybody would want to do it. You are destroying the coin and there is no way it will
ever get back out into circulation. Think about it. If I sold the coins to a dealer, someone might buy them and spend them in the future sending more silver out in circulation for us to find.

fistfulladirt · Oct 4, 2009

There is no ban on silver melt. There is on copper. I'm not sure how much silver coin hits the smelter, I doubt very much does. Keep in mind industry has a terrific appetite for silver. ffd

JJtheRollHunter · Oct 4, 2009

I hope nobody here does it. And I REALLY hope LJ dosen't do it.

fisher2 · Oct 4, 2009

i sell mine to a smelter but im not sure f he melts them but whats the point in looking for silver n then selling it o find again? just keep it the first time so noone else gets it... never mind just keep selling ur silver i call the stores u spend silver at!!!

JJtheRollHunter · Oct 4, 2009

"i sell mine to a smelter but im not sure f he melts them but whats the point in looking for silver n then selling it o find again? just keep it the first time so noone else gets it... never mind just keep selling ur silver i call the stores u spend silver at!!!"

:icon_scratch:

I don't understand you are saying.

coolpix9 · Oct 4, 2009

2 Cents Worth

There are several types of CRHers. The first one is in it for the profit. They acquire as close to face value as they can and sell for a profit. Nothing wrong with this approach. The higher silver goes, the more tempted one gets to sell. When I sell, I am only concerned upon the price, not whether the coins will be smelted.I also do not look at any dates on the coins,If it doesn't ring with silver, I dump it back into circulation. The next kind of CRHer is the classic coin collector. Amassing complete sets of coins or saving the key dates is a great way to enjoy this hobby.

There is no wrong way to enjoy this hobby. Good luck, Jim

TxTim · Oct 4, 2009

Jeweler Dave melts silver for his jewelry business.

47thelement · Oct 4, 2009

I sell mine for profit, what happen to it after that... I have no idea and, to be honest, I don't care.

Jim- I love the new avatar! I think I have been the cap'n on that ship!

coinmojo · Oct 4, 2009

Back in the early 80's there was a run up on silver and my understanding is that they did indeed melt them. All but the rarer ones, but @ 20 x face even some of those hit the melting pot. Many coins never realize their book value and even today Common Massed produced Junk Silver coins bring in a much higher price than they ever will as a collectable.

I read an article about that about a year ago, and some dealers never really searched for key dates before they sent the coins to the smelter. There was such a rush to capture that run up in the silver price that they started pulling from their own stock to capitalize on it.

I do believe some of these massed produced coins like 1964 thru 69 Halves would actually have a very small population, if melted in mass, could someday demand a higher price, if anyone kept track, which I believe no one does. So we will probably never really know.

Mojo

katzky · Oct 5, 2009

coolpix9 said:
2 Cents Worth

There are several types of CRHers. The first one is in it for the profit. They acquire as close to face value as they can and sell for a profit. Nothing wrong with this approach. The higher silver goes, the more tempted one gets to sell. When I sell, I am only concerned upon the price, not whether the coins will be smelted.I also do not look at any dates on the coins,If it doesn't ring with silver, I dump it back into circulation. The next kind of CRHer is the classic coin collector. Amassing complete sets of coins or saving the key dates is a great way to enjoy this hobby.

There is no wrong way to enjoy this hobby. Good luck, Jim

And there is the third kind.... The CRHer that is totally obsessed with the accumulation of silver without regard to FRN price.

Darth Walker · Oct 5, 2009

Actually there are officialy 3 kinds of CRhunters.

1.- Composition CRH = You are looking for precious metals. Gold, Silver, etc.

2.- Set CRH = You want to complete sets, albums, etc

3.- Variety CRH = This is the most complicated. You are looking for errors

DW

Diver_Down · Oct 6, 2009

Darth Walker said:
Actually there are officialy 3 kinds of CRhunters.

1.- Composition CRH = You are looking for precious metals. Gold, Silver, etc.

2.- Set CRH = You want to complete sets, albums, etc

3.- Variety CRH = This is the most complicated. You are looking for errors

DW

You missed one. The Vindictive CRH = One that looks forward to dumping the coin and pissing off bank managers. The silver is only a consolation prize.

bucksguy81 · Oct 6, 2009

i try to find the silver halves to turn them around and make a profit, however, I find that for me, it's hard to sell them on here. I just wonder if I'm doing something wrong!?

Goes4ever · Oct 7, 2009

bucksguy81 said:
i try to find the silver halves to turn them around and make a profit, however, I find that for me, it's hard to sell them on here. I just wonder if I'm doing something wrong!?

chris take em to the coin shop I told ya about last night

cyberdan · Oct 8, 2009

bucksguy81 said:
i try to find the silver halves to turn them around and make a profit, however, I find that for me, it's hard to sell them on here. I just wonder if I'm doing something wrong!?

Yes, it will be hard to sell them on here because everyone knows how to get them for face value. I have never paid full melt for a coin. A good coin store or ebay or a good refinery will get you the most.