Silver coins melt value

[Humboldt]

Never paid much attention to them (old "silver" coins) but recently started reading up on them, especially their melt value.

The term "melt value" does not imply the melting of the coin, it's a definition of the coins intrinsic value or worth.

http://cointrackers.com/blog/1/silver-content-us-coins/
http://www.coinflation.com/turn_off_the_smelters.html

Technically it's illegal to melt coins down but you can still sell them based on their metal content worth...if you can find a buyer.

Seems like circular logic to me. I have a 1942 quarter that's technically worth 25 cents. May be worth a bit more to a collector depending on the condition and the year and mint.

Based on the silver content it has a melt value of over $5.

1943 nickel, worth 5 cents, silver melt value of $2.

But if you can't melt it down, how the hell does that work? Why would someone pay $5 for the silver in the quarter if they can't actually reclaim it and it's technically worth 25 cents?

Figure it makes for a good discussion but I'm still keeping my eyes out for buffalo nickels and mercury dimes

[Ken]

OMGHI2U Humby!!!!!!!!!!!!!!!!!1111111111111

Different coins have different alloys or mixtures of metals. Melt value would be current value of metals and their purity that are in a coin. Hypothetically, say you have a coin with 1 gram of .999 silver and 1/2 gram of .999 nichol, etc. (just made up compositions, as my head is full of pain killers...) then the melt value would be what the actual metal content would be worth, with out taking into consideration the type of coin, condition (physical damage, bends, nicks, holes and such, UNLESS the damage affects the weight) etc. Keep in mind that the coins, if melted would also need to have the metals separated or refined and that would have a cost...

Yes, it is illegal to damage US coin or currency (this includes drilling a hole to use on a necklace, however I have never heard of that being enforced, besides it ruins the value of the coin...)

Common date coins, coins that are very worn, damaged, etc., are often refered to as bullion. They have no numismatic value to a collector, however their value for the actual metal content is known if the type of coin can be recognized. ie., the amount and purity of Mercury Dimes is known and undisputed as it is/was an official issued, by act of Congress, US coin. There is no doubt on a world standard how much silver is in it.

I hope this helps!
Luv & Kisses! XOXOXOXOXOXOXOXOXOXO

[Humboldt]

OMGHI2U Humby!!!!!!!!!!!!!!!!!1111111111111

Different coins have different alloys or mixtures of metals. Melt value would be current value of metals and their purity that are in a coin. Hypothetically, say you have a coin with 1 gram of .999 silver and 1/2 gram of .999 nichol, etc. (just made up compositions, as my head is full of pain killers...) then the melt value would be what the actual metal content would be worth, with out taking into consideration the type of coin, condition (physical damage, bends, nicks, holes and such, UNLESS the damage affects the weight) etc. Keep in mind that the coins, if melted would also need to have the metals separated or refined and that would have a cost...

Yes, it is illegal to damage US coin or currency (this includes drilling a hole to use on a necklace, however I have never heard of that being enforced, besides it ruins the value of the coin...)

Hey Ken, how are you feeling?

Thanks for the response, we're both saying the same thing
I understand the melt value, I just find it odd that you can sell a coin for melt value even though the buyer can't actually utilize the precious metal in the coin.

[Ken]

Hey Ken, how are you feeling?

Thanks for the response, we're both saying the same thing
I understand the melt value, I just find it odd that you can sell a coin for melt value even though the buyer can't actually utilize the precious metal in the coin.

Whether you can legally separate the desired metal (silver or whatever) the metal is still there... In computers, the PCB has gold and other precious metals, however a very small quanity. If you had many and a way to remove the metal, it is a different story.

In bullion or melt value, you can't 'legally' (in the USA anyway... ) melt them or refine the metal, however you still have in your hand...silver...

Maybe that last sentence will put it into perpsective...


PS- Thanks! getting better, some days better than others.

[Leatherneck]

$hit can't melt, can't distill - what kind of country is this!

[RaisinCain]

Never paid much attention to them (old "silver" coins) but recently started reading up on them, especially their melt value.


http://cointrackers.com/blog/1/silver-content-us-coins/
http://www.coinflation.com/turn_off_the_smelters.html

Technically it's illegal to melt coins down but you can still sell them based on their metal content worth...if you can find a buyer.

Seems like circular logic to me. I have a 1942 quarter that's technically worth 25 cents. May be worth a bit more to a collector depending on the condition and the year and mint.

Based on the silver content it has a melt value of over $5.

1943 nickel, worth 5 cents, silver melt value of $2.

But if you can't melt it down, how the hell does that work? Why would someone pay $5 for the silver in the quarter if they can't actually reclaim it and it's technically worth 25 cents?

Figure it makes for a good discussion but I'm still keeping my eyes out for buffalo nickels and mercury dimes

"Money" isn't worth anything. It is only what you've been told.

[David]

It is perfectly legal to deface currency as long as you have no intent of using it as legal tender, hence melting is perfectly legal. Historically, this has occurred many times.

[Humboldt]

It is perfectly legal to deface currency as long as you have no intent of using it as legal tender, hence melting is perfectly legal. Historically, this has occurred many times.

FINAL REGULATION ISSUED PROHIBITING THE EXPORTATION, MELTING, OR TREATMENT OF UNITED STATES ONE-CENT AND 5-CENT COINS

On April 10, 2007, United States Mint Director Edmund Moy approved a final rule that generally prohibits the exportation, melting, or treatment of United States one-cent coins (pennies) and 5-cent coins (nickels), which became effective upon publication in the Federal Register on April 16, 2007. The final rule is based on the interim rule that was published on December 20, 2006, and it addressed public comments submitted in response to the interim rule. The United States Mint concluded the interim rule would be adopted as a final rule with certain changes based on the public comments and additional considerations. This measure has been implemented to protect the coinage of the United States by ensuring that sufficient quantities of 5-cent and one-cent coins remain in circulation to meet the needs of the United States. A violation of these restrictions can lead to a fine of up to $10,000, imprisonment of up to 5 years, and forfeiture of the subject coins or metal. The authority for implementing this regulation is Title 31 of the United States Code, Section 5111(d).

http://www.usmint.gov/consumer/?acti...inalRegulation

[cvoixjames]

are all worth whatever ther trade price for silver bullion is trading at on a given day. Today its like 25$/oz.

If you have a boatload of pre 1964 quarters, any reputable coin dealer will take them off your hands.

[RoundEye]

Humboltd, if you start melting down coins for silver/money I'm going to choke you.

If they're in decent shape, contact me I'll give you fair market value.

[Humboldt]

Not melting anything down and understand the concept fine

Just trying to figure out why anyone would pay melt value if they're not melting the coins down.

Bullion value is fine but until it's melted a dime is just a dime. Why is the trade based on such an artificial value?

[Humboldt]

Humboltd, if you start melting down coins for silver/money I'm going to choke you.

If they're in decent shape, contact me I'll give you fair market value.

You have a pretty good collection if my memory serves me, no?

[David]

http://www.usmint.gov/consumer/?acti...inalRegulation

Said rules are enactments based on the value of current coinage, based on metal value. Presently, the metal value of one cent and five cent coin exceed monetary value (note dimes and higher are not included in the law). Discussions have been about to cease production of these pieces. As a long time coin collector, it saddens me to see this, however it keeps with standard used throughout American history.

[David]

are all worth whatever ther trade price for silver bullion is trading at on a given day. Today its like 25$/oz.

If you have a boatload of pre 1964 quarters, any reputable coin dealer will take them off your hands.

A disreputable will take them as well, for less money, of course. Almost every county has a few of these "cash for your silver and gold" stores.

[cvoixjames]

A disreputable will take them as well, for less money, of course. Almost every county has a few of these "cash for your silver and gold" stores.

True. Also, if you have a boatload of say Morgan Silver
dollars, just make sure you check the mint mark strike, because any Silver dollar minted at the Carson City mint in Nevada are more valuable.

[RoundEye]

You have a pretty good collection if my memory serves me, no?

Yes

[David]

Interesting story behind the Carson City Mint. Makes for an interesting read for a numismatist or a history buff.

[cvoixjames]

Interesting story behind the Carson City Mint. Makes for an interesting read for a numismatist or a history buff.

http://en.wikipedia.org/wiki/Carson_City_Mint

for sure a fascinating story.