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It is illegal to shred, tear, or mar or otherwise deface any US currency. This includes melting coins. An exception is made for penny smashers. In addition, no one would probably be too bent out of shape if you melt one penny or one nickel. But the destruction of US currency is a federal crime.
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Is it illegal to melt silver that is not coins?
No it's not illegal to do this.
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.
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.
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.
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 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.
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.
Where can you melt down coins?
In most countries, melting down of legal tender is illegal.
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.
Can you melt coins?
I think you can
How much duty free silver coins ca be brought from Mexico to us?
it is illegal in Mexico to take coins to other countries
