Coins 101??

[AugustMoose87]

... Currently, it is still against the law to melt these coins down into their basic raw material...

So than is it also not legal to melt down gold and silver coins?

Any chance you could point me/us to the actual law, so that we can read exactly what it says? I had a conversation the other day with a coworker, and as they understood the law, it stated something about it only being illegal if there was the intent of fraud. So it would be illegal for me to melt some pennies and use the metal to make nickles, but to melt the coin for it base metal would be ok, since there was no attempt to defraud.

 

Amazon Forum Fav 👍

A History of Mining on the Kenai Peninsula, Alaska - Grab it through Amazon!

[Turbo21]

Is it Illegal to Melt U.S. Coins? - Coinflation Looks like you are right!

That story is from 2006. The same year they changed the law and made it illegal To melt nickels and pennies

From what I read it is legal to melt silver coins



http://usatoday30.usatoday.com/money/2006-12-14-melting-ban-usat_x.htm

http://www.usmint.gov/downloads/consumer/5111dFinalRuleDraft.doc

 

[Turbo21]

Legal to melt silver coins


http://about.ag/MeltingSilverCoins.htm

 

[fistfulladirt]

Are there any Apps for us newbies that can quickly give us a price on a Silver Dollar? I always see them at thrift stores, pawn shops, and garage sales and don't know if they're worth $10 or $40 each or what to offer!!

In general, silver dollars almost always carry a hefty premium over melt. Try finding slicks for under $20, good luck.

 

[fistfulladirt]

Don't forget US silver coinage, halves - quarters - dimes, minted 1992-present, S-proofs only. I have found them in change, and rolls.

 

[nicholsrg74]

value of 1967 lincoln penny with a cud error

Can anyone tell me how to find value of a 1967 lincoln penny with a overlapping inprint of two O shaped. Symbols. In inside the imprint.

 

[enamel7]

Can anyone tell me how to find value of a 1967 lincoln penny with a overlapping inprint of two O shaped. Symbols. In inside the imprint.

It would be great if you could post a photo. Sounds like it could just be damage.