Nice Thought Goose. .. >"Melt price of $4.20" Nice Thought Goose >"Melt price of $4 20"
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> hey anon, wanna give your opinion?
asd
User avatar #3 - sewallman
Reply +95 123456789123345869
(06/23/2014) [+] (17 replies)
stickied by svenninja
That is actually incorrect. As 1964 and earlier quarters are silver.. It'd take a lot more quarters than that to melt to a value of $4 or more. The collector value is actually higher than the melt value.

Each 1964 quarter weighs 6.25 grams and only has 90% silver. That's only 5.625 grams of silver. A troy ounce is about 31.103 grams. Each troy ounce of silver is currently going for $20.74.

Those quarters are melting down at a percentage over $3.75
#22 to #3 - silversamuri
Reply 0 123456789123345869
(06/23/2014) [-]
Whoa whoa whoa whoa, you mean there is a unit of measurement that has the same name as me?
User avatar #25 to #22 - oceanmist
Reply +8 123456789123345869
(06/23/2014) [-]
Kind of a weird name there Mr. grams.
User avatar #62 to #25 - alexthesiro
Reply 0 123456789123345869
(06/24/2014) [-]
It's Troy, you tard.
#48 to #3 - reaperboy
Reply 0 123456789123345869
(06/23/2014) [-]
but that is also dependent on price of silver since it fluctuates.
User avatar #52 to #48 - sewallman
Reply +1 123456789123345869
(06/23/2014) [-]
Each troy ounce of silver is CURRENTLY going for $20.74.
#85 to #52 - reaperboy
Reply 0 123456789123345869
(06/24/2014) [-]
yes, "currently", not when this content was probably made or the makers unknowing of silver value changing
#74 to #3 - turbotank
Reply 0 123456789123345869
(06/24/2014) [-]
**turbotank rolled image** i have one of those i found in a vending machine i also have various wheat pennys that i dont know the value of they range from 65-33 if i'm correct from last i saw them
User avatar #75 to #74 - sewallman
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(06/24/2014) [-]
1958 was the last year they where minted.
#79 to #75 - turbotank
Reply 0 123456789123345869
(06/24/2014) [-]
**turbotank rolled image** oh well i just guessed on what year i had them from i know my oldest is from around 33 maybe 34
User avatar #76 to #3 - almaster
Reply 0 123456789123345869
(06/24/2014) [-]
I am not trying to be a dick or anything but i'm pretty sure that your math is wrong for the grams of silver. Just because 90% of the coin is silver does not necessarily mean it makes up 90% of it weight. Due to density's of the metals used, the silver could end up weighing more of less of the total amount of the coin.
User avatar #77 to #76 - sewallman
Reply 0 123456789123345869
(06/24/2014) [-]
By 90% with any precious metal, it means that 90% of it's weight is that metal.

Also, you sell your metals per troy ounce, not per ounce. I've bought and sold gold, and I've bought and sold coins for a living. If I wasn't sure of this, I would have been homeless.
User avatar #80 to #77 - almaster
Reply 0 123456789123345869
(06/24/2014) [-]
Like I said in my previous comment I was not entirely sure. I'm no expert on coins and I thank you for clearing up my confusion.
#78 to #3 - XxMacxX
Reply 0 123456789123345869
(06/24/2014) [-]
Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value:

$20.85 = silver price / ounce on Jun 23, 2014.
.90 = silver %
$3.1257 = copper price / pound on Jun 23, 2014.
.10 = copper %
6.25 = total weight in grams
.0321507466 = ounce/gram conversion factor
.00220462262 = pound/gram conversion factor (see note directly below)
The CME uses pounds to price copper and that means we need to multiply the metal price by .00220462262 to make the conversion to grams. The silver price is based in troy ounces and that means we need to multiply the metal price by .0321507466 to make the conversion to grams.

1. Calculate 90% silver value :
(20.85 × .0321507466 × 6.25 × .90) = $3.7706781421

$3.7706 is the rounded silver value for the 1932-1964 silver quarter on June 23, 2014. This is usually the value used by coin dealers when selling these coins at melt value. However, the total melt value is continued below.

2. Calculate 10% copper value :
(3.1257 × .00220462262 × 6.25 × .10) = $0.0043066

3. Add the two together :
$3.7706781421 + $0.0043066 = $3.7749847421

$3.7749847421 is the total melt value for the 1932-1964 silver quarter on June 23, 2014.
User avatar #83 to #78 - sewallman
Reply 0 123456789123345869
(06/24/2014) [-]
You're factoring in per ounce. You sell metals like gold and silver per troy ounce. I how ever did not add in the 10% copper. which would be $3.88 while rounding down to the nearest penny.
User avatar #37 to #3 - sirbonzaiatak
Reply +4 123456789123345869
(06/23/2014) [-]
No, false. Before 1965 pennies were made of pure uranium. They can be sold to the US government or Iran for a large sum of money.
User avatar #71 to #37 - istartedthewar
Reply 0 123456789123345869
(06/24/2014) [-]
seemslegit.jpg
User avatar #6 to #3 - svenninja [OP]
Reply +7 123456789123345869
(06/23/2014) [-]
Eh... still fifteen times more than what it's originally worth. Thanks for educating me though!
#36 - sewallman
Reply +41 123456789123345869
(06/23/2014) [+] (13 replies)
stickied by svenninja
I have just one more thing to say on here OP,

If you find a quarter from 1916, it's worth over $1000. It also looks different, because the quarters with the heads on them started in like 1930-1931
User avatar #42 to #36 - svenninja [OP]
Reply 0 123456789123345869
(06/23/2014) [-]
I have learned many things from you, sir. I also collect coins, and a few rare dollars. I am friending you, you know far more than I do!
User avatar #49 to #36 - sketchE
Reply 0 123456789123345869
(06/23/2014) [-]
1944 steel pennies are worth about 100,000
User avatar #55 to #49 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
Also, since those two are error coins, I don't really pay attention to them on a key-date level.

The reason why these error coins are so expensive is because of the significance of the 1943 steel penny to begin with. A copper penny that was supposed to be steel or a steel penny that was supposed to be copper is always a good that people will love.
User avatar #54 to #49 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
1943 copper pennies are a little less valuable, but still at least worth $60,000

That 1944 steel penny would have to have been uncirculated for it to cost that much as well.
User avatar #86 to #36 - vexille
Reply 0 123456789123345869
(06/24/2014) [-]
My family treasure: Coins dating back to the 1800's.
Some made out of PURE silver.

Sitting on a damn goldmine right now.
User avatar #88 to #86 - sewallman
Reply 0 123456789123345869
(06/24/2014) [-]
If they where gold, you'd be sitting on something better. Silver in my opinion is ****.

The oldest coin I've ever had dated back to 600 AD.
User avatar #89 to #88 - vexille
Reply 0 123456789123345869
(06/24/2014) [-]
Dat coin.

But some are what they look like now, others are like a blue-like shade and its super cool. Not sure IF it's silver but I always thought.

And one time I had a golden penny. Lost that sadly. <_>
User avatar #91 to #89 - sewallman
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(06/24/2014) [-]
User avatar #90 to #89 - sewallman
Reply 0 123456789123345869
(06/24/2014) [-]
That was merely gold plated. The actual amount of gold on that penny would have been worth less than 3 cents.

You can buy them on Ebay.
User avatar #38 to #36 - PeRvKiTTeH
Reply +1 123456789123345869
(06/23/2014) [-]
I know sewallman knows this but any coin like this strongly depends on the condition of the coin. If you have one I would strongly recommend sending it into a professional coin grading service such as PCGS or NGC to get the most money out of it. If you don't whoever you sell it to can rip you off a hell of a lot easier.
User avatar #39 to #38 - PeRvKiTTeH
Reply +2 123456789123345869
(06/23/2014) [-]
Source: Its how I get my paycheck.
User avatar #41 to #39 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
Say that on this,

funnyjunk.com/US+coin+history+comp/funny-pictures/5194374/

and I'll stick it for you. I just created a post about the different kinds of old currency, not about the values.
User avatar #40 to #38 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
I bought and sold coins in bulk, and you are very correct. If a coin is graded (even at a low grading) the value rises incredibly!

These services cost money, that's why I've never done so, but if you have a coin worth money, why not make it worth more.
#1 - thebuttocksbrigade
Reply +97 123456789123345869
(06/23/2014) [-]
&gt;&quot;Melt price of $4.20&quot;
>"Melt price of $4.20"
#24 - lamarsmithgot
Reply +29 123456789123345869
(06/23/2014) [-]
#51 - iobx
Reply +20 123456789123345869
(06/23/2014) [-]
fixed**
User avatar #2 - qun
Reply +1 123456789123345869
(06/23/2014) [-]
what about pennies? i have a ton of old pennies
User avatar #23 to #2 - gemleonn
Reply 0 123456789123345869
(06/23/2014) [-]
If it's before 1909 it has a pretty high value to collectors (Indian head pennies)
My grandpa sold a small bag of them for around $45
User avatar #50 to #2 - sketchE
Reply 0 123456789123345869
(06/23/2014) [-]
if you have a 1944 steel penny its collector value is about 100,000
#96 to #50 - dadadadavis
Reply 0 123456789123345869
(06/24/2014) [-]
Too bad only like 3 have been found so far. They get faked often though
User avatar #73 to #2 - istartedthewar
Reply 0 123456789123345869
(06/24/2014) [-]
Don't do it. Melting pennies for scrap copper is most definitely illegal, do your research every one.
User avatar #4 to #2 - sewallman
Reply +7 123456789123345869
(06/23/2014) [-]
Pennies are less valuable materials, in today's market as well. Pennies weigh 2.3 grams each, and have more than just copper in them.

The collection value depends on the year and mint it was produced in. 1909 was the first year Lincoln pennies where released, and in 1909 certain pennies where marked with a VDB on them. Some unmint marked pennies will have the VDB on it from that year, but they are not worth nearly as much as the minted ones.
User avatar #5 to #4 - qun
Reply +1 123456789123345869
(06/23/2014) [-]
alright, thank you for the information, i shall keep my eyes open for 1965 quarters
User avatar #7 to #5 - sewallman
Reply +1 123456789123345869
(06/23/2014) [-]
pre 1965 quarters are incredibly rare to find in the market. It's almost as rare as finding a Liberty Quarter or a Mercury dime.

I've paid rent buying and selling old currency, but also just so you can look as well, pre 1965 dimes also have silver content. You're more likely to find one than a quarter.
#44 to #7 - Jeff C
Reply +1 123456789123345869
(06/23/2014) [-]
I was actually given a handful of change from a REALLY old customer while I was delivering pizza and usually I just chuck it in my change jar but I noticed something weird about a dime, turns out 4 of them were 1943 mercury dimes. It's collector value isn't very high but still $2.50 in silver and I figure maybe in another 50 years they'll be worth a few more a pop. Finding them really got me interested in coin collecting. Pic related, my dimes
#20 to #7 - dadadadavis
Reply 0 123456789123345869
(06/23/2014) [-]
glad to find someone else that uses old coins and notes to fund things on FJ.
User avatar #8 to #7 - qun
Reply 0 123456789123345869
(06/23/2014) [-]
i don't collect anything but pennies, but i'll see if i can keep my eyes open, i know i have some different coins, things that are different, i'll have to look up what a mercury dime is
#9 to #8 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
Look for flying eagle pennies, indian head pennies, and my favorite... Civil War tokens.

pic related. It's a civil war token, here is the Ebay post

www.ebay.com/itm/1833-ND-HTT-I-Take-Responsibilty-The-Constitution-EF-HT70-28mm-civil-war-token-/351096403765?pt=LH_DefaultDomain_0&hash=item51bef9f735

I've only ever had one civil war token to ever enter my hands. It was a rare confederate token that I sold for $120.
User avatar #10 to #9 - qun
Reply 0 123456789123345869
(06/23/2014) [-]
do you know if there's a market at all for pennies? and i mean any of kind you've stated as well as regular/old ones? i've always collected pennies of various kinds, and have found several foreign coins that people have mistaken for pennies (not sure how they look different) and i wouldn't mind trying that in my spare time
User avatar #11 to #10 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
Ebay. There is a big market, but you need to have hundreds of wheat pennies and put them in penny rolls. That's the best way to sell them. I bought the rolls, ripped them apart, repackaged them and sold them at a profit.

I paid rent that way for about 4 months.
User avatar #13 to #11 - qun
Reply 0 123456789123345869
(06/23/2014) [-]
come to think of it, i just looked it up, i do have some of the wheat pennies, i wondered why they looked different
User avatar #12 to #11 - qun
Reply 0 123456789123345869
(06/23/2014) [-]
oh nice, i will try that, does buying and selling them higher actually make that big of a profit or was it a gradual thing?
User avatar #14 to #12 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
www.ebay.com/itm/Sealed-Bank-Bag-of-Wheat-Pennies-/121370021116?pt=Coins_US_Individual&hash=item1c42378cfc

Buy that, search through them, add as little 1940's-1950's pennies possible per roll... Save all the 40's and 50's and roll them all together and label it 40's-50's roll on Ebay.

If you have a reputation for selling ****, you won't make **** People want 1910-1939, because they're far more rare to find than the 40's and 50's. Add like 4 40's and 5 50's per roll and that should make your buyers happy.
User avatar #15 to #14 - qun
Reply 0 123456789123345869
(06/23/2014) [-]
thank you, might actually do something with this information
User avatar #16 to #15 - sewallman
Reply +1 123456789123345869
(06/23/2014) [-]
with that bag of 1000 pennies, you'll get 20 rolls. Rolls sell for around 5 bucks each for a quality roll. Before you roll the pennies, educate yourself on better years and stick those years on the ends of the rolls. You'll get better pay with buyers buying what's advertised on the roll. I once sold a few rolls for over $20 each.

So if you sell each roll for $5, and spend $80... That's $20 profit. (Start each roll at like $3.50 though to attract bidders)
User avatar #17 to #16 - qun
Reply 0 123456789123345869
(06/23/2014) [-]
i will when i get a chance, but it's not practical for now i don't make enough to spend that much at this time, but a better job i can turn it into a hobby
User avatar #18 to #17 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
It's a lot of work sorting through all those pennies though. It pays off honestly.. But you'll also want to place indian head pennies in the rolls as well.. That makes them sell A LOT higher

But yeah.. If you ever get the chance, get into the coin game. People love the ****.
User avatar #26 to #18 - Holyshizznips
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(06/23/2014) [-]
I have a 1913 wheat penny in pretty awesome shape, whatcha think it'll go for?
User avatar #27 to #26 - sewallman
Reply +1 123456789123345869
(06/23/2014) [-]
the 1913 S is a semi-key date.

What mint was it produced from? If it is unmarked, it's P.
User avatar #28 to #27 - sewallman
Reply +1 123456789123345869
(06/23/2014) [-]
To answer your question though.. If it was minted in San Francisco and uncirculated, you could sell it for around $200. Knowing that it probably has been circulated, it's around $5.
User avatar #30 to #28 - Holyshizznips
Reply 0 123456789123345869
(06/23/2014) [-]
Damn, that'd be awesome. It's most likely been in circulation though, it's in good enough condition to read everything on it still but it's worn nonetheless.
User avatar #29 to #27 - Holyshizznips
Reply 0 123456789123345869
(06/23/2014) [-]
I don't see any letters on it, so I'm assuming it's unmarked?
User avatar #31 to #29 - sewallman
Reply +1 123456789123345869
(06/23/2014) [-]
You could probably sell it for a buck. It's better to get 49 other wheat pennies, put them in a roll and show the date on one end. You could probably sell that roll for like 4 bucks
#32 to #31 - Holyshizznips
Reply 0 123456789123345869
(06/23/2014) [-]
xD I'll still hang onto it, I think it was the first year the wheat penny was made.
xD I'll still hang onto it, I think it was the first year the wheat penny was made.
#33 to #32 - sewallman
Reply 0 123456789123345869
(06/23/2014) [-]
Wrongo, 1909. In 1909 they still had indian head pennies as well.

In 1909, the illustrator of the penny had the chance to write his initials on the back of some of the pennies, creating the 1909 VDB, and the most rare form of that was the 1909 VDB s mint penny.

www.ebay.com/itm/like/181394731638?lpid=82


Another great wheat penny to look out for is the 1943 steel pennies, those ******* are cool. Sadly, you can buy them online by the roll and have 50 of them for fairly cheap though.
#34 to #33 - sewallman
+2 123456789123345869
(06/23/2014) [-]
In 1943, we where using so much copper on ammunition, we had to print our pennies with steel.
#35 to #33 - Holyshizznips
+1 123456789123345869
(06/23/2014) [-]
My god, $13,500 x.x that's insane. I've found a few pennies on ebay that look like mine up for 20-120 dollars =P Maybe I'll cash it in ina few years.But I dunno, I just think it's kinda cool having a piece of currency that was used to buy who knows what over 100 years ago now xD Thanks for the info
My god, $13,500 x.x that's insane. I've found a few pennies on ebay that look like mine up for 20-120 dollars =P Maybe I'll cash it in ina few years.But I dunno, I just think it's kinda cool having a piece of currency that was used to buy who knows what over 100 years ago now xD Thanks for the info
User avatar #19 to #18 - qun
Reply 0 123456789123345869
(06/23/2014) [-]
thanks again, i will try
#46 - XxLawlietsBitchxX
Reply +4 123456789123345869
(06/23/2014) [-]
Comment Picture
#66 - UnoSkullmanx
Reply -3 123456789123345869
(06/24/2014) [-]
Except it's, ya know, illegal to melt down coins for that specific reason
User avatar #67 to #66 - istartedthewar
Reply +2 123456789123345869
(06/24/2014) [-]
Except, ya know, it's not.
#82 to #67 - UnoSkullmanx
Reply -1 123456789123345869
(06/24/2014) [-]
www.coinflation.com/is_it_illegal_to_melt_coins.html
usatoday30.usatoday.com/money/2006-12-14-melting-ban-usat_x.htm
"Section 331 of Title 18 of the United States code provides criminal penalties for anyone who fraudulently alters, defaces, mutilates impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the Mints of the United States. This statute means that you may be violating the law if you change the appearance of the coin and fraudulently represent it to be other than the altered coin that it is. As a matter of policy, the Mint does not promote coloring, plating or altering U.S. coinage: however, there are no sanctions against such activity absent fraudulent intent"

Love it when kids like you think they know ****. Essentially, if you DO melt down coins, it's very illegal to try to sell the melted copper or nickle or sivler, etc.
User avatar #84 to #82 - istartedthewar
Reply +1 123456789123345869
(06/24/2014) [-]
Did you even attempt at reading this?
I read this article before I said it wasn't illegal.
"fraudulently alters, defaces, mutilates impairs, diminishes, falsifies, scales, or lightens"
Even in the article it says the key word is fraudulent.
Melting old quarters down is not illegal.
If you shaved a sliver of silver say that five times fast of 1000 quarters then melted and sold those filings, it would be illegal.

No one's trying to fool anyone when they melt coins for scrap. Do you even have any idea how Pawn shops, scrap gold/silver shops or any of the sort operate?

Even on national tv, some guy sold $100,000 worth of pre 1965 quarters and dimes to Rick Harrison at Gold and silver pawn in las vegas.

Just stop.
And it says the mint does not promote
#56 - xcoreyx
Reply +1 123456789123345869
(06/23/2014) [-]
Except, you know, it's a felony to melt down US currency.
User avatar #69 to #56 - istartedthewar
Reply 0 123456789123345869
(06/24/2014) [-]
Sorry, it isn't illegal.
about.ag/MeltingSilverCoins.htm
User avatar #47 - breadposter
Reply +1 123456789123345869
(06/23/2014) [-]
You could buy bread with that money!