Silver Nickels...illegal to melt??
Posted:
Mon Feb 07, 2011 6:16 pmby VWBEAMER
I'm guessing yes, see no exceptions in the ban. It simply says 5 cent and 1 cent coins.
Re: Silver Nickels...illegal to melt??
Posted:
Mon Feb 07, 2011 6:19 pmby PennyPauper
It's legal,and you can export them.They are a tiny fraction of total nickels.There is a exemption for them.
(d) The prohibition contained in ยง 82.1 against the exportation, melting, or treatment of 5-cent coins shall not apply to 5-cent coins inscribed with the years 1942, 1943, 1944, or 1945 that are composed of an alloy comprising copper, silver and manganese.
Check this post
viewtopic.php?f=7&t=3230
Re: Silver Nickels...illegal to melt??
Posted:
Mon Feb 07, 2011 7:47 pmby misteroman
wow, wouldn't have guessed that.
Re: Silver Nickels...illegal to melt??
Posted:
Wed Feb 09, 2011 10:38 pmby Know Common Cents
From what I understand, millions were shipped overseas and melted. The Manganese content makes it tough to melt (smelt) here in the US diue to the EPA rules. It's really amazing that with current silver pricing these common bullion coins (0.05626 oz each) now melt for over $1.50 each.
Re: Silver Nickels...illegal to melt??
Posted:
Thu Feb 10, 2011 12:04 amby wagsthadog
Hi there-
Just unsolicited advice- One thing I learned the hard way, unless you own a multimillion dollar refining facility, don't try it. Silver of that low a purity will be impossible to sell and will be a neverending hassle.(If you're looking to melt and resell)
Just like pennies- it's already a recognized, accepted, and professionally made product, why melt it and destroy it? You'd be making much more work for yourself. If you just have like five or six nickels you want to try to melt in your garage, go for it, but if you're thinking of buying a bag to melt, I really wouldn't.
just my .02c
wags