CoinForum.com Homepage
Forum Home Forum Home > Investing and Bullion > Silver
  New Posts New Posts RSS Feed - melting scrap metal
  FAQ FAQ  Forum Search   Register Register  Login Login

melting scrap metal

 Post Reply Post Reply Page  12>
Author
Message
kjc1958 View Drop Down
New Member
New Member
Avatar

Joined: 24 Jan 2007
Location: United States
Status: Offline
Points: 6
Post Options Post Options   Thanks (0) Thanks(0)   Quote kjc1958 Quote  Post ReplyReply Direct Link To This Post Topic: melting scrap metal
    Posted: 24 Jan 2007 at 11:20pm
did the government put a ban on melting coins? I recently read it in a magazine
Back to Top
codydude815 View Drop Down
Coin Expert
Coin Expert
Avatar

Joined: 18 Jan 2007
Location: United States
Status: Offline
Points: 720
Post Options Post Options   Thanks (0) Thanks(0)   Quote codydude815 Quote  Post ReplyReply Direct Link To This Post Posted: 25 Jan 2007 at 11:07am
Yes, youcan be fined like 3000 and put in jail for a year or sumn like that
The Cody has spoken
Back to Top
CoinKrazy View Drop Down
New Member
New Member
Avatar

Joined: 31 Dec 2006
Status: Offline
Points: 31
Post Options Post Options   Thanks (0) Thanks(0)   Quote CoinKrazy Quote  Post ReplyReply Direct Link To This Post Posted: 03 Feb 2007 at 2:34am
This new law should be to our benefit. It will force all the coins containing a significant amount of copper or nickel to realize their value. Has anyone been stocking up on PRE-1982 copper cents?
Back to Top
codydude815 View Drop Down
Coin Expert
Coin Expert
Avatar

Joined: 18 Jan 2007
Location: United States
Status: Offline
Points: 720
Post Options Post Options   Thanks (0) Thanks(0)   Quote codydude815 Quote  Post ReplyReply Direct Link To This Post Posted: 03 Feb 2007 at 4:26am
i have a five gallon bucket full of pennies 1899-1975. all searched.
The Cody has spoken
Back to Top
silverhawk View Drop Down
Admin Group
Admin Group
Avatar

Joined: 30 May 2006
Location: United States
Status: Offline
Points: 1846
Post Options Post Options   Thanks (0) Thanks(0)   Quote silverhawk Quote  Post ReplyReply Direct Link To This Post Posted: 10 Feb 2007 at 11:18pm
dude thats a lot of pennies
Back to Top
gork View Drop Down
Coin Groupie
Coin Groupie
Avatar

Joined: 27 Sep 2006
Status: Offline
Points: 49
Post Options Post Options   Thanks (0) Thanks(0)   Quote gork Quote  Post ReplyReply Direct Link To This Post Posted: 11 Feb 2007 at 10:30am
How many coppers do you want?...... dont forget what you are asking for.



PM
Back to Top
kjc1958 View Drop Down
New Member
New Member
Avatar

Joined: 24 Jan 2007
Location: United States
Status: Offline
Points: 6
Post Options Post Options   Thanks (0) Thanks(0)   Quote kjc1958 Quote  Post ReplyReply Direct Link To This Post Posted: 12 Feb 2007 at 1:34am
o.k. so what are we suppose to do?  if silver goes back up to 60 bucks an oz?  if weve been sitting on stuff with no dates all worn out since 1982?  is it good for us numinists or will it hurt us?  I've been waiting for silver to climb and it looks like in the next couple years it will be like the early eighties and now i hear this crap.  if its illegal to melt that means people will sit on everything.  if they can melt it makes our coins more valuable there will be less around so im curious as to what you folks all think?  I am new to this game and inherited more than I care to say.  so give me some advice.  
Back to Top
codydude815 View Drop Down
Coin Expert
Coin Expert
Avatar

Joined: 18 Jan 2007
Location: United States
Status: Offline
Points: 720
Post Options Post Options   Thanks (0) Thanks(0)   Quote codydude815 Quote  Post ReplyReply Direct Link To This Post Posted: 13 Feb 2007 at 3:25am
Originally posted by silverhawk silverhawk wrote:

dude thats a lot of pennies
lol, i know, my grandapa gave it to me when i was 8, it got me started in numismatics.
The Cody has spoken
Back to Top
morgandlr View Drop Down
New Member
New Member
Avatar

Joined: 12 Mar 2007
Status: Offline
Points: 18
Post Options Post Options   Thanks (0) Thanks(0)   Quote morgandlr Quote  Post ReplyReply Direct Link To This Post Posted: 12 Mar 2007 at 8:34pm

$50-60 silver is technically an accurate quote, but the price was highly artificially inflated by the Hunt Brothers (see: how to lose a billion dollars while breaking the law trying to turn it into 2 billion)....True it can't be melted, but the silver and gold bars that are traded are rarely melted either. Their value as bullion should always hold regardless of the coin's condition.

Back to Top
shortstack View Drop Down
New Member
New Member


Joined: 16 Aug 2007
Location: United States
Status: Offline
Points: 6
Post Options Post Options   Thanks (0) Thanks(0)   Quote shortstack Quote  Post ReplyReply Direct Link To This Post Posted: 16 Aug 2007 at 9:11am
The ban on melting coins only applies to pennies and nickles.  Pre-65 silver coins can still be scrapped.
Back to Top
Dead_DiverFL View Drop Down
New Member
New Member
Avatar

Joined: 01 Sep 2007
Status: Offline
Points: 10
Post Options Post Options   Thanks (0) Thanks(0)   Quote Dead_DiverFL Quote  Post ReplyReply Direct Link To This Post Posted: 01 Sep 2007 at 6:13am
Nickles and copper pennies are now worth considerably more as scrap than their face value. It is also illegal to export significant amounts of these coins out of the country.
Back to Top
Dead_DiverFL View Drop Down
New Member
New Member
Avatar

Joined: 01 Sep 2007
Status: Offline
Points: 10
Post Options Post Options   Thanks (0) Thanks(0)   Quote Dead_DiverFL Quote  Post ReplyReply Direct Link To This Post Posted: 17 Sep 2007 at 7:24am
If the penny becomes obsolete (some people think it would be a good idea, I don't) would it then become legal to melt them or just sell them raw for the copper? If it does become legal some day to sell them as scrap that only leaves the question, "how do I seperate the copper pennies from the zinc pennies without going insane doing it by hand?" As it stands now I think the labor involved in seperating the pennies would kill any profit margin to be gaind in scrapping them.
Back to Top
Angel Thomas View Drop Down
New Member
New Member
Avatar

Joined: 20 Apr 2010
Status: Offline
Points: 1
Post Options Post Options   Thanks (0) Thanks(0)   Quote Angel Thomas Quote  Post ReplyReply Direct Link To This Post Posted: 20 Apr 2010 at 12:09am
Hi,

Is it true. If it is true then it's better to banned the coin for universal advantage.


Back to Top
watts View Drop Down
Coin Groupie
Coin Groupie
Avatar

Joined: 04 May 2010
Status: Offline
Points: 42
Post Options Post Options   Thanks (0) Thanks(0)   Quote watts Quote  Post ReplyReply Direct Link To This Post Posted: 15 Jun 2010 at 9:44am
 
    "o.k. so what are we suppose to do?  if silver goes back up to 60 bucks an oz"
 
 
 Junk siler,dateless, whatever, will be worth at or near melt value regardless.  All the more if the coins are better condition.  Like someone said I believe you can melt silver coins. 
Back to Top
 Post Reply Post Reply Page  12>
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 10.18
Copyright ©2001-2014 Web Wiz Ltd.