Ever Wonder what I do with all the %40 halves I get? melt em, Refine them to 999

[jewelerdave]

So I am trying to do the industry a favor...

First by reducing the number of %40 halves making sure they never trouble anyone ever again!

Second Every bag I melt down makes your stash more rare. Maybe they will be collectable someday for something other than silver.

Third. Something far more interesting is made from them....999+ Prospector bars!

Dont worry, I save and resell the 90%...unless its damaged or has holes in it.
Much of this was war nickels and %40 as well as silverware and flatware and old jewelry...all recycled into 999+

 

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[CoinHuntingDrew]

Melting coins and refining them for resale or other purposes is indeed still illegal.

 

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[Omega]

Melting coins and refining them for resale or other purposes is indeed still illegal.

Have you read any of the laws regarding this? It CLEARLY states that melting old us coins for their silver content IS PERFECTLY legal.

 

[50cent]

Melting coins and refining them for resale or other purposes is indeed still illegal.

Only for cents and nickels. https://www.federalregister.gov/art...ing-or-treatment-of-5-cent-and-one-cent-coins

In theory if the mint wanted to create a law restricting the melting of silver they could BUT there is no law of that sort so they cannot.

 

[johnomerta]

Only for cents and nickels. https://www.federalregister.gov/articles/2007/04/16/E7-7088/prohibition-on-the-exportation-melting-or-treatment-of-5-cent-and-one-cent-coins

In theory if the mint wanted to create a law restricting the melting of silver they could BUT there is no law of that sort so they cannot.

So I guess you can melt down war nickels. I did not know that.

 

[jewelerdave]

Very nice website, services and products offered jewelerdave, if you don't mind my asking, could you give us more details about this quote above? Thanks

ok, So the method they use to find a silver horde is so stupid easy.

when they pour the bags in the sorter. the change falls onto its self. take a bunch of clad coinage and shake it.
now take some 90% or %40 and put it in your hands and shake it.

The tone difference is clear as a bell...hence the phrase and value of silver bells. Nothing rang more pure than a silver bell...anyway. Maybe I will do a video on it and show the difference.

But all they do is listen, and when you hear change falling all day long if something changes they hear it. Stop the machine for a moment. Search and pull. Then go back to business.

So long as the count ends up correct at the end of the day. No problem. So what they re doing is actually seen as a service as

Removal of silver coins gets coins that dont circulate out of the main stream, this way they don't cause a problem or confusion with bank customers or disrupt the conformity of the accepted banking product.

Many a time before I retired from coin roll hunting when they tellers would recount the bag in the back I could hear the silver in the bag and know if it was going to be a good one or not.


I see some people believe that what I am doing is illegal. *sigh* call the cops then. But before you do that just use a law checking service before crying wolf.

The basic accepted Idea is that if the older money supply is not in circulation and beyond the estimated survival and usefulness of the coin and that it does not affect the current monetary supply, no one cares.

The ban on the cents and nickles in 2008 was to stop private business from making a profit off the tax payer funded coinage.
If you are a taxpayer. Would you not be outraged if your tax dollars were being wasted on a pork belly project like making metal scrappers rich of your money by subsidizing them with cheap undervalued metal that even more was wasted on making into 2.5 gram and 5 gram stamped finished products?

well lets not go that far? we know our politicians would never ever allow government subsidized programs let a select few get rich off some circumstance right?

Bottom line is. You start messing with the money supply, your really messing with the fed, the banks, the taxpayers, a whole range of people can get mad...so yeah, action is taken to stop or try to stop it.

The good news is. war nickels are exempt from the melt ban. When only a couple may or may not be found in a box of what 8000 of them. More are lost in the ground and down garbage disposals so it does not really affect the supply for those who find and melt them. Because as soon as any silver coin is recognized by anyone who knows what it is. It stops circulating. non circulating money is not going to affect the mintage's any more than normal shrinkage anyway of the supply from hoarders and loss, and its so small they just dont care.