# Refining 90% silver coinage?



## Driven81 (Apr 4, 2012)

Have you? I mean come on lets be honest. I would think that besides sterling and scrap gold, this is the best move to turn a profit. Is it feasible? Is it advisable?


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## nickvc (Apr 4, 2012)

I'm sure it's illegal and why bother, any coin is of a known assay whether 80% , 90% or 92.5% and it's easy for anyone to assess it's value, unlike an unmarked bar !


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## Geo (Apr 4, 2012)

unless im mistaken. silver coins were demonetized. they can still be spent, but if it reaches the bank it will be taken out of circulation.


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## nickvc (Apr 4, 2012)

Geo they did the same over here in the UK but I'll bet my last cent on the fact that they left the legislation in place making melting,defacing them illegal :shock:


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## Oz (Apr 4, 2012)

I will take your last cent Nick (just kidding), but it is currently legal to deface and melt US silver coins. I think it is inadvisable to do so however as they are self assaying as to silver content by weight. Currently pennies and nickels are verboten. If someone has an excess of US silver coinage I will buy it for more than they would receive refining it.


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## nickvc (Apr 4, 2012)

It's not like governments anywhere to miss a trick like that they must have had bigger things to bring in your dollars.... :shock:


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## Palladium (Apr 4, 2012)

nickvc said:


> It's not like governments anywhere to miss a trick like that they must have had bigger things to bring in your dollars.... :shock:



They do. TAXES !!!!!!!


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## jewelerdave (Apr 11, 2012)

Refining 90% 80% %720 %40 %50 %830 and anything in between refines out just fine and quite nicely.

I have melted down bags upon bags of 90% because right now no one is buying it strong, But they are strong on fine 999+ electrolytic grade.

Oh yes I try to get people to buy it, even below spot by a percent and I have very few takers.
There is no law against melting silver coinage. there is a law against melting nickels and pennies, Bottom line is. If you start messing with the currency supply that is paid by the peoples tax dollars and a private company is making money off it, Citizens, tax payers and government officials tend to get a bit upset 

As melting down Silver coinage from 50 years prior and older does not affect the money supply, No one cares. And in the law there is an exemption for war nickels as so few are out there in circulation it does not matter. Same with silver, can they still be found, absolutely, But anyone who recognizes what they are pulls them and never spends them.

There is a reason why old coinage is called junk silver. Some buy it. But its odd weight, often worn down and unless its sterling silver you cant use it to make jewelry.
Modern Franklin mint sets and Canada Olympic sets and any other sterling coin makes great casting grain btw for jewelers.

Fact is is all based on customer demand and economics as a business. 
If I have an order for 999 and I have 90% even silver dollars, Guess what, In the furnace they go, then the cell, then its on to 9999 bullion.
Does not matter what the scrap is. US, Canada, British, Mexico etc. I have a lot of world coin dealers sell me there non salable silver and I melt it. Every day 90% is being melted down by the bag full. Its odd weight, its based on the old silver dollar and Spanish system. Today its the troy oz. Silver and gold is always being recycled, has been for thousands of years. The reason why we dont see roman and medieval coinage in circulation or 90 is that is was melted and converted into the next system.

Hope this clarifies some things.

www.prospectorsgoldandgems.com


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## nickvc (Apr 11, 2012)

Most of the UKs silver coinage was recalled by the government and remelted and shipped to the USA to pay back the war loans, it was still circulating up to the decimalization of our currency but in very small amounts as I'm sure is the case now in the US. Yep jewelerdave is right almost all precious metal coins have been recycled where possible since man first made coins, sometimes by the original issuing governments who were busy debasing their currency and always by aspiring new nations who wished to be recognised.


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