0
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.
What else can I help you with?
Is it illegal to melt silver that is not coins?
No it's not illegal to do this.
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.
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.
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.
Is it illegal to melt down silver eagles?
no
When did it become legal to melt silver coins?
If you are asking about melting silver coins in the US, it is not illegal. I think Canada may have laws against it as do many other countries but as of today the USA does not deem it illegal. There is a recent law (regulation by the Mint) that prohibits melting pennies and nickels for their metal value, as the value of the metal exceeds the face value of the coin. You may still use them as artistic material for sculpture, etc. As the Mint does not produce silver coins anymore, they have no interest in those coins. Bullion producers buy them and melt them by the ton.
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.
Why did the US mint stop using silver to make coins?
Silver is a precious metal, and just like gold, it's going to be expensive so they stoped using it because they realized that people could melt the coins down and have a ton of money in silver.
What is the value of a 1951 Canadian Dime?
In US dollars it has a melt value of $1.37. It is illegal to melt these coins for the metal they contain.
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.
What temperature do silver coins melt?
The melting point of silver is 961.8 degrees Celsius (1763.2 degrees Fahrenheit). Silver coins would begin to melt at or close to this temperature, depending on the purity of the silver and any other alloying metals present.
Where can you melt down coins?
In most countries, melting down of legal tender is illegal.
