What to do with silver coins? melt into bar? Sell as is? stockpile?

[smitty010203]

I looked but couldnt find the answer. link me if need be and I will go on my way.

What do you guys do with all the silver coins you find, like old dimes? / What can you do. Anyone ever send them in to get melted into bars? how many would that take? I think that would be the coolest thing to do.

 

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[Landlord Jim]

Right now I'm stockpiling them. Rumors are out that silver will hit $50 an ounce within 3 years.

 

[smitty010203]

so how many silver dimes does it take to have an ounce of pure silver?

 

[YumaMarc]

so how many silver dimes does it take to have an ounce of pure silver?

Almost fourteen, when new.

 

[DeepseekerADS]

Why would you want to melt silver coins? There's a whole lot of counterfeit bars out there, and why would anyone trust you to smelt it above anyone else. Small denomination silver coins are not likely to be counterfeited, and more easily recognized by everyone. I wouldn't buy yours or anyone's bars anymore. However, I'd take your silver dimes in a New Jersey minute.

 

[CoilyGirl]

Deepseeker not if he gives them to me first.

 

[Limitool]

I have a "secret" cave you could hide them in...

 

[NHBandit]

Why would you want to melt silver coins? There's a whole lot of counterfeit bars out there, and why would anyone trust you to smelt it above anyone else. Small denomination silver coins are not likely to be counterfeited, and more easily recognized by everyone. I wouldn't buy yours or anyone's bars anymore. However, I'd take your silver dimes in a New Jersey minute.

^^^^^ This is sensible advice. First of all many many people hoard US Silver coins for their historical interest. Secondly if we ever find ourselves in a situation where the paper dollar is junk and we have to rely on precious metals to do our buying and selling, easily recognizable coins are the way to go. How do you make change with a lump of Silver ? Now I will grant that there are alot of people who don't think that will ever happen but enough do that they put a premium on coins. Just look at Ebay auctions. Bars and generic Silver rounds sell for less per OZ than US coins if you do the math and take the purity into account. If you prefer the look of bars I would suggest that you sell your coins and use the money to buy bars from well known, reputable dealers and only buy respected brands.

 

[NHBandit]

PS I have some "Joes Garage" Silver bars I'll trade ya for your coins... Just give me a couple days. The paint is still wet.

 

[OldJerseyGirl]

Well, I wish I HAD that many to worry about! That day is long in coming for me.

 

[DeepseekerADS]

Well, I wish I HAD that many to worry about! That day is long in coming for me.

And to that I say "Keep the faith"! If you search the field, they will come

 

[Jason in Enid]

I looked but couldnt find the answer. link me if need be and I will go on my way. What do you guys do with all the silver coins you find, like old dimes? / What can you do. Anyone ever send them in to get melted into bars? how many would that take? I think that would be the coolest thing to do.

It would be absolutely stupid to melt down silver coins. Taking a known item and turning it into an unknown/suspect item is never a good idea. If you don't want a bunch of dimes, then trade them to a coin shop for bullion bars.

Of course this is assuming you really do have enough silver to even worry about and this isn't just a mental "what if" daydream that so many newbies engage in.

 

[ShaunB]

I looked but couldnt find the answer. link me if need be and I will go on my way.

What do you guys do with all the silver coins you find, like old dimes? / What can you do. Anyone ever send them in to get melted into bars? how many would that take? I think that would be the coolest thing to do.

Props for asking! It would be a shame to dismiss the numismatic value and melt them into bars.

 

[smitty010203]

Of course this is assuming you really do have enough silver to even worry about and this isn't just a mental "what if" daydream that so many newbies engage in.

You sir, have hit the nail on the head as I am a) a newbie, and b) have 'zero' silver coins.

I just wanted to see what the deal with that was. And this makes complete sense.

 

[Jason in Enid]

There's nothing wrong with daydreaming. We all like to think about what we would do with piles of gold, silver, relics, etc. Nothing wrong with asking questions either! That's how we learn.

Good luck in your hunting, I hope that you do find piles of silver and really have to decide what to do with it all!

 

[MuckyBottles]

Absolutely keep them. Not only are they a valuable metal, but also they have numismatic value as well, which could be more than the melt price. I have 6 cigar tubes of silver dimes that my grandfather gave me, they are worth more as a coin inho.

 

[westkybanded]

I got burned on a fake silver bar a few weeks ago. Never again. Coin only for me.

 

[luvsdux]

Most, if not all, the US coins considered in this thread can not be melted down to 100% silver as they are actually 90% or less silver. So, unless one can purify the molten metal themselves, they won't get a pure silver bar. There's a coin dealer in my area that will buy coins considered for melt value so I've sold some that weren't in great shape to him after determining that none had any particular numismatic value.
luvsdux

 

[JunkShopFiddler]

I stockpile my silver coins that aren't rare enough to have numismatic value. I save them until silver is over 40 dollars an ounce. A couple years ago silver almost hit 50 dollars so I sold my silver to a trusted coin dealer for around 1200 dollars. As far as saving silver to survive a societal apocalypse goes, they will come and put folks my age in FEMA camps so I am spending my money now.

 

[whammy]

Last year I sold some of my junky silver and coins to finance a trip to New Mexico. Still holding my good silver coins.