Question please.

[CODY]

Hello, got another question. I have read a lot of post about people selling their silver coins for the melt value. I'm confused on this. Isn't it still against the law to destroy US currency? I know I have read about people hoarding copper pennies in the hope of one day that they will discontinue pennies which will allow them to be melted. Here is the question. You know and I know that they will never discontinue say quarters, at least not in our time. So, why would someone pay melt value on a silver quarter, knowing they will never be able to melt it. Legally. Just courious. Thanks.

[del]

Cody our money and coins are no longer based on the precious metal standard that was set up by the government in its beginings. in the 1930's the U.S. government even made it illegal to own gold coins and people either turned them in or hoarded them , then in 1964 coins were no longer made with silver (with the exceptions of a few lower silver percentage pieces) . the mint now makes silver eagles (basically a 1 dollar silver coin ) and look what they charge for that 1 ounce coin , there was a huge silver melt off in 1980 when silver prices hit $ 50 an ounce . i don't think they can legally stop you from turning in silver coins for melt and when the penny is discontinued there will be a flood of copper into the market lol lol

[randy]

The refinery I use (aragold), lists sterling and coins as the silver they take. I don't think they would list that if it was not legal to melt them (BTW, I don't melt my dug silver coins, but do melt dug modern bling).

I don't know why it seems legal to melt silvers and not copper pennies. I have a ton of dug wheaties I don't want, and would gladly melt them or sell them for .02 cents, but it would probably cost more than they are worth to ship them >{, so they just pile up in jars, much to the chagrin of my wife, who would love to seem them moved out more than I would :confused: