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No, it would be illegal to deface or destroy any legal tender currency, and more so if you intend to sell the metal for personal gain.
Additionally, it would probably cost you more to melt down the coins and separate the metals, than you are likely to get for sale of the metal.
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Is it legal to melt down 1964 Kennedy 50 cents coins for scrap silver?
Yes, it is legal to melt down silver coins for scrap. Many coin dealers and jewelry stores will buy them from you at melt prices along with refiners. The only coins illegal currently to melt down in the US are pennies and nickels. Silver coins were illegal to melt down before a lot of copper-nickel coinage was circulating but it is legal now.
Where can you melt down coins?
In most countries, melting down of legal tender is illegal.
Is it legal to melt down US coins?
In the US, it is illegal to melt down nickels ( and technically half dimes, but the collector value of half dimes exceed their melt value) and pennies. All other denominations can be melted, though, in the current market, the only legal to melt coins that would bring a profit if melted down would be the silver coins which can easily be resold on the open market for a higher profit just selling the coins to investors than paying someone to refine the silver.
What is an example of a melt down?
Loss of reactor coolant results in lack of nuclear fuel cooling and hence melt down results.
How do you melt pennies?
Basically, you don't. It's illegal to melt down U.S. coins.
How would someone know how much gold coins are really worth?
The value of gold coins can be determined in two different ways--the melt-down value and the coin value. The melt-down value is the value of the pure gold in the coins, which is determined by the weight. The face value of the coins can be found on a collector's website.
How do you melt silver from Canadian coins?
You don't. That is against the law. It is a violation of both the Currency Act and The Canadian Criminal Code to deface or destroy a Canadian coin. The law states: ''no person shall melt down, break up or use otherwise than as currency any coin that is legal tender in Canada.'' By the way, if you mutilate the coins, they cannot be used any longer. The Mint won't take damaged coins. They will with bills, but not coins.
Is it illegal to melt silver and gold coins?
No, all denominations of US coins are legal to melt, except for pennies and nickels. However, most US gold carries a high premium over melt value and it is generally more economical to sell silver coins to a coin dealer because most of them are running out of inventory and will pay a lot of money for them and you won't have to worry about refiner fees.
Can you melt coins?
I think you can
Is it illegal to melt down golden American coinage?
Its illegal for anyone but the Mint to do it.MoreAnd if you're using the word "golden" as it's applied to modern $1 coins, they're made of brass. Even if it were legal to melt them when you were done each $1 coin would produce only about a dime's worth of brass!
Is it illegal to melt coins?
It is illegal to melt U.S. coins. You can go to the United States Government mint site www.usmint.gov for more information.
Does the royal mint recycle there unwanted money?
Yes. They melt down the scrap coins and reuse the metal in further casting for coinage metal.
