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In most countries, melting down of legal tender is illegal.
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∙ 14y ago
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What is a melt down?
Meltdown is a term that describes the melting of a nuclear-reactor core as a result of a nuclear accident
How would a silver company convert your jewelry into silver coins?
Basically when silver is converted into coins it is melted down and poured into a mold in the coin of choice. This process takes little over five minutes to complete if done right.
What coins do you have if you have 30 coins and 1.09?
Assuming you mean "Which coins must you have if you have 30 coins that add to $1.09 c", there are a large variet of possibilities that largely depend of the country the coins come from. This is because different countries have different denominations of coins.
What percent do the gold and silver buying stores keep from the melt value?
It depends GREATLY on the store. The one I go to for bullion works on a 3% margin. Whenever you sell to them they pay 97% of spot. Whenever you buy you pay spot + 3% on common bullion. There's some places that buy for as low as 20% of melt! Some places that buy at 95% of melt and sell for 100% of melt. Etc. Keep in mind though that the same shop will pay different prices depending on how much you are selling (in general, the more you sell the more they'll pay), what you're selling (things that take a long time to sell such as odd-denomination or foreign coins will be bought at a discount when compared to easily-sellable coins) and what the company thinks silver prices will do (if a company thinks that silver is going to go down within the next week they will be less likely to pay close to spot, if they think that silver will go up majorly they will be more likely to pay close to spot or even above spot!) Your best bet is to call around to local coin, bullion, jewellery, and pawn shops and see which one offers to pay the most. If you're talking "junk silver" just ask how much they pay times face, or how much per $1 face value, since you're talking about just junk silver, they don't need to see the coins to tell you how much they'll offer.
Are coins made of copper?
not all coins just the penny
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.
How do you melt pennies?
Basically, you don't. It's illegal to melt down U.S. coins.
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.
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.
Can you melt coins?
I think you can
Is it legal to melt down 2p coins and sell the results?
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.
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.
Is it illegal to melt silver that is not coins?
No it's not illegal to do this.
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.
What is the melt value of Canadian coins?
In US dollars it has a melt value of $1.37. It is illegal to melt these coins for the metal they contain.
What number is ice age melt down?
It is Ice age the Melt Down 2
