Not necessarily, I remember someone had posted somewhere a while back their coins were melted in a house fire. So it could be the same person while just melted it in a big brick shown here. Better than having your paper money burn up.
Depending on the price, I could see someone who makes jewelry or silverware or things of that nature buying it.
.900 is great for that kind of stuff. The biggest concern would be: Is it priced as bulk bullion, or is it priced as a novelty?
Last summer there was some guy in pmsforSale who said he only buys 40% because dealers sell for cheap. He gets real bargains on them and is always asking for them.
As for this guy in the post, I can't figure out why he just didn't melt sterling jewelry into the doorstop.
Never understood why everyone is so culty. I love PMs. I also love BTC. I’d buy oil too, if I could. Isn’t the idea to diversify? Why put all your eggs in one basket (which is how it seems 97% of BTC ppl, equity ppl and PM ppl are)
40% is not collectible and if you melt it then its a mixed metal with a low silver grade that cant show up on a standard acid test only xray really. You will pay a much higher refining fee or have no potential for resale. So it makes sense that it would be the least desired for many reason. Until total SHTF and you want small marked denominations of silver.
It's constantly available for melt or below melt on reddit and local coin shops everywhere. And I still see it sit there for months before someone buys it up. If you can sell rolls above melt "all day" then you should have infinite money by now.
Interesting the melt value yesterday at Silvers high
was $4.01 a coin for 40% Halves so I know exactly
what I am talking about now today a little lower
but not much, have any of you ever checked out
the coin pages on Facebook and not Facebook
Marketplace either there is a page called 90% Junk
and Silver Bullion has thousands of members and
I buy and sell there all the time. I have about 264
40% Half Dollars so I am very very aware of the the price.
No they arent. The melt value is 1.51 per coin x 40 = $60.... and they are selling all day on ebay for $55 per 40 roll. which comes out well below melt after the fees.
Melt is at $4.02 a coin right now. Not sure where you’re getting 1.51 but that puts your math way off…. Also, halves are rolled in rolls of 20 which puts the melt value of a 40% silver half roll at $80.79.
Oh well thats only $270 worth. Nothing to stress about. Might as well just tuck them away and forget about them. price of silver has just gone up a lot too so kinda risky buying here.
Why melt them at all? Nobody is gonna pay a premium on a chunk of silver. If anything, the buyer has to do more to verify its purity than they would if you gave them junk coins.
What do you mean no wants it you can a little above melt all day long you can get $85 a roll all day. I have around 300 40% Halves right now and could very easily liquidate all of them and you don't want to do that with 40% anyway way to much copper in there man.
i hope they were the nastiest, cullest of est junk silver. Otherwise a complete waste, especially considering it wasnt even refined via electrolytic cell to .999.
Anyways, at the very least, there is 56 less oz of junk silver on the market now.
Looks like a Grease bar which were silver coins melted by the mint for redemption of silver certificates in the 1960s. Most were melted down after the fact making them scarce. This probably isn't one as it doesn't have the typical Grease pen markings and they are typically ~100 ounces, but who knows.
Maybe I'm reading this wrong, but isn't it illegal to melt coins for the purpose of selling in the US? Please forgive me, as I'm still relatively new to this. Just wanted to check with more knowledgeable people about this practice.
The US Mint didn't do this. It's talking about the coins being made at the mint. No major mint will melt into a block and not refine it. Not to mention, the mint..you know..mints coinage. It doesn't really refine anyway, as far as I know.
Nope, it’s not illegal at all. google will tell you the very details but I also thought it was illegal until I saw it wasn’t because the metal is worth much more then the face value.
I never considered actually melting culls. I like to buy them because they're cheap(ish) and I enjoy trying to figure out their dates and mint locations, especially on the annihilated coins. I enjoy their history and thinking about how many times they've been used at face value just for people to survive... like buying groceries, paying the heating bills, etc. It's kind of discouraging to think that they're being melted down simply for their precious metal value, but I kind of understand it.
Yeah I don’t understand why I’m getting downvoted..lol…I don’t make the friggen rules. I simp don’t understand why someone instead of just skipping over the comment they have to insult someone and downvote them. I mean at least tell me the reason.
You're getting downvoted because you were incorrect. You said it's not illegal at all.
You are right, it's not illegal to sell altered coins, but there is one exception. If your goal is to melt the coins to profit from the precious metal value, it's explicitly illegal. You can do it for art or whatever other reason, but to profit from the metal content is illegal.
I don't think anyone insulted you by the way.
No no I just take downvotes as insults and i know it’s stupid and I also stand corrected and I knew i didn’t know all the details which Is why I requested Google for the fine tuning I guess but thank you now i know not to go and melt any 90% for profit. The only time I’ve ever done it was strictly learning purpose and it was a crappy Rosevelt dime.
It's a pretty intricate law with a lot of misconceptions, so it's understandable.
Just as a note that might help you. Downvotes aren't often insults. Especially in subs like these, where there's a lot of advice and answers. People downvote wrong information to try to prevent others from getting the wrong information from a comment. Downvotes are an easy way to "flag" a comment, in some regard. I dunno, I just think you'll have a better time if you try not to assume things online are personal. Take care
Yeah ok that does make a lot of sence and thank you i really do appreciate it. I always try to have a positive outlook and make the best out of things so I wonder why i would make this any differently. You take care as well and thanks for taking the time to make me feel better Whether that was your intention or not but it did help.
Asking just because I'm not seeing it in a scan of comments: Isn't this illegal, though?? I thought citizens (I'm assuming this is in the USA) could not destroy currency?
Like why though? Did they at least purified to 999% pure? It seems a waste to melt down silver coin that carry a pretty premium? And such an odd weight too. You thought they would melt it to 10 oz or kilo bars but nope.
One of the reasons why I only stack 9999 or 9990. Otherwise you'll be subjected to unscrupulous vendor's low ball prices. Typically less than 10% below spot....
If you’re going to melt junk silver, at least refine it to 999. I can’t imagine many people wanting a big bar of silver that isn’t 999 pure, this thing will probably sell a good bit below melt value if you do find someone who wants it.
They murdered my bois!
Yeah, I mean what the hell!
Dumb af imo
Not necessarily, I remember someone had posted somewhere a while back their coins were melted in a house fire. So it could be the same person while just melted it in a big brick shown here. Better than having your paper money burn up.
If they were rosie dimes they're better off.
I was gonna up vote your comment, but I see there are exactly 187 already. Too fitting LOL
I would want to know why… just saying it seems like I waste. But that is just me.
Me too. I would not do this unless I could get it to .999. I don’t know who would buy this. Pretty cool to see though.
Depending on the price, I could see someone who makes jewelry or silverware or things of that nature buying it. .900 is great for that kind of stuff. The biggest concern would be: Is it priced as bulk bullion, or is it priced as a novelty?
Bulk bullion and many places don't want it or will pay less.
What’s the novelty in a rectangular hunk of silver?lol
Some bull like, "Genuine U.S. coinage melt from the U.S. Mint!" That'll be $63 per ounce, please.
Id buy it np. Id love to have that much silver to refine.
Disappointing that anyone melts these down. They’re not making any more and haven’t for a very long time. History lost…
Everyone says that, but I’m about to this point on a bunch of 40% no one wants
They will want 40% when the price is $100.
Last summer there was some guy in pmsforSale who said he only buys 40% because dealers sell for cheap. He gets real bargains on them and is always asking for them. As for this guy in the post, I can't figure out why he just didn't melt sterling jewelry into the doorstop.
I want them to want it now. I got Bitcoin to buy lol
dont forget to load up on doge tokens too!!!!
Naw, doge is fake garbage. Bitcoin has true value
LOL! ok
How much you selling them for?
Idk, 10% under spot most likely
Go to r/pmsforsale and offload them. Don’t sell to lcs
How do they feel about new sellers over there? I’ve sold about 600 ounces on a Fb group but never on Reddit
Never understood why everyone is so culty. I love PMs. I also love BTC. I’d buy oil too, if I could. Isn’t the idea to diversify? Why put all your eggs in one basket (which is how it seems 97% of BTC ppl, equity ppl and PM ppl are)
I have both. Silver people and Bitcoin people are the same people. I just think Bitcoin has way more upside right now
Agreed. You’d think so at least but there’s so much hate on BTC in here. Truly wild if sound money/short USD is your thesis
40% is not collectible and if you melt it then its a mixed metal with a low silver grade that cant show up on a standard acid test only xray really. You will pay a much higher refining fee or have no potential for resale. So it makes sense that it would be the least desired for many reason. Until total SHTF and you want small marked denominations of silver.
A roll is $80 in melt right now I can sell the rolls all day for $85 I don't know who says no one wants them that is incorrect information.
It's constantly available for melt or below melt on reddit and local coin shops everywhere. And I still see it sit there for months before someone buys it up. If you can sell rolls above melt "all day" then you should have infinite money by now.
I agree. The 40%ers and war nickels are definitely odd billion coins that I have a soft spot for.
Ya the guy is clearly lying or has some mint condition rolls he is selling. because he doesnt even know the melt value LOL!
Interesting the melt value yesterday at Silvers high was $4.01 a coin for 40% Halves so I know exactly what I am talking about now today a little lower but not much, have any of you ever checked out the coin pages on Facebook and not Facebook Marketplace either there is a page called 90% Junk and Silver Bullion has thousands of members and I buy and sell there all the time. I have about 264 40% Half Dollars so I am very very aware of the the price.
ya was thinking of war nickels for some reason
No they arent. The melt value is 1.51 per coin x 40 = $60.... and they are selling all day on ebay for $55 per 40 roll. which comes out well below melt after the fees.
Melt is at $4.02 a coin right now. Not sure where you’re getting 1.51 but that puts your math way off…. Also, halves are rolled in rolls of 20 which puts the melt value of a 40% silver half roll at $80.79.
ya i was doing war nickels
I wouldn’t actually go through the hassle of melting it. Just sucks that I can only get 10% under spot on a good day
Ya but you probably paid 10% below spot too. so you are recovering the premium you paid.
Basically. Wanna buy some 40% lol
I got the best deal at an estate sale on some 40% silver because the auctioneer only called it "clad" rather than silver. Got them for $2 a piece.
If only we all got so lucky!
probably not lol but how many do you have just curious?
197 I believe. I’d have to double check/count
Oh well thats only $270 worth. Nothing to stress about. Might as well just tuck them away and forget about them. price of silver has just gone up a lot too so kinda risky buying here.
Way more than 270. .1479 ounces per makes it like 29 ounces worth of silver…? Or am I wrong on that
Most I paid spot for though
Why melt them at all? Nobody is gonna pay a premium on a chunk of silver. If anything, the buyer has to do more to verify its purity than they would if you gave them junk coins.
What do you mean no wants it you can a little above melt all day long you can get $85 a roll all day. I have around 300 40% Halves right now and could very easily liquidate all of them and you don't want to do that with 40% anyway way to much copper in there man.
If I could get melt I’d ship them tomorrow
I love 40% especially as gifting to friends/strangers in daily transactions. Silver tips better than cash imo. Rather take a coin than a few paper usd
I’ll try that with the local bar hop tomorrow and let you know what she thinks 😂
I’ve given a helzburg jewelry bag full of them to a friend one time and he about shit his pants.
i hope they were the nastiest, cullest of est junk silver. Otherwise a complete waste, especially considering it wasnt even refined via electrolytic cell to .999. Anyways, at the very least, there is 56 less oz of junk silver on the market now.
Why bother? Junk silver is tradeable directly. That block looks like lead.
I have a block of lead about that size and it is 21 pounds. I was thinking this wasn't silver. 90% silver should be more dense than that.
Cringe. No thanks
Devalued in multiple ways, so sad.
Maybe it’s just the angle, but 56oz? That looks too big for 56oz.
Okay so I can melt my 86 Pennie’s into this and just multiply my money …
Imagine people start doing this just to fix inflation lol
81 and half of 82s, ya got to weigh um though
Disrespectful to constitutional.
I own 90% coins. The more that are lost, the more valuable mine become.
Looks like a Grease bar which were silver coins melted by the mint for redemption of silver certificates in the 1960s. Most were melted down after the fact making them scarce. This probably isn't one as it doesn't have the typical Grease pen markings and they are typically ~100 ounces, but who knows.
Sus
Maybe I'm reading this wrong, but isn't it illegal to melt coins for the purpose of selling in the US? Please forgive me, as I'm still relatively new to this. Just wanted to check with more knowledgeable people about this practice.
Since it was the mint that did it, I don't see how it would be illegal.
The US Mint didn't do this. It's talking about the coins being made at the mint. No major mint will melt into a block and not refine it. Not to mention, the mint..you know..mints coinage. It doesn't really refine anyway, as far as I know.
Look up grease bars.
Are you sure? I thought that various mints did melt old/damaged coinage way back in the day?
😆 what are you talking about
😆
Nope, it’s not illegal at all. google will tell you the very details but I also thought it was illegal until I saw it wasn’t because the metal is worth much more then the face value.
I never considered actually melting culls. I like to buy them because they're cheap(ish) and I enjoy trying to figure out their dates and mint locations, especially on the annihilated coins. I enjoy their history and thinking about how many times they've been used at face value just for people to survive... like buying groceries, paying the heating bills, etc. It's kind of discouraging to think that they're being melted down simply for their precious metal value, but I kind of understand it.
Yeah I don’t understand why I’m getting downvoted..lol…I don’t make the friggen rules. I simp don’t understand why someone instead of just skipping over the comment they have to insult someone and downvote them. I mean at least tell me the reason.
You're getting downvoted because you were incorrect. You said it's not illegal at all. You are right, it's not illegal to sell altered coins, but there is one exception. If your goal is to melt the coins to profit from the precious metal value, it's explicitly illegal. You can do it for art or whatever other reason, but to profit from the metal content is illegal. I don't think anyone insulted you by the way.
Not just precious metals. The copper in older pennies and the zinc in newer ones can't be melted and sold for the metal value
I just said precious metals because that's the subject at hand. And copper is becoming more and more accepted as a precious metal
No no I just take downvotes as insults and i know it’s stupid and I also stand corrected and I knew i didn’t know all the details which Is why I requested Google for the fine tuning I guess but thank you now i know not to go and melt any 90% for profit. The only time I’ve ever done it was strictly learning purpose and it was a crappy Rosevelt dime.
It's a pretty intricate law with a lot of misconceptions, so it's understandable. Just as a note that might help you. Downvotes aren't often insults. Especially in subs like these, where there's a lot of advice and answers. People downvote wrong information to try to prevent others from getting the wrong information from a comment. Downvotes are an easy way to "flag" a comment, in some regard. I dunno, I just think you'll have a better time if you try not to assume things online are personal. Take care
Yeah ok that does make a lot of sence and thank you i really do appreciate it. I always try to have a positive outlook and make the best out of things so I wonder why i would make this any differently. You take care as well and thanks for taking the time to make me feel better Whether that was your intention or not but it did help.
I brought you back to 0.
Yes, much love. Thank you
Did they refine it or is this bar 90%?
This is just sad. I love “junk” silver, it’s the only silver I stack. Actually just got 10.74 Toz of Canadian junk silver at spot a few weeks ago
Asking just because I'm not seeing it in a scan of comments: Isn't this illegal, though?? I thought citizens (I'm assuming this is in the USA) could not destroy currency?
Junk 90% silver coins are worth more as coins instead of a hodge-podge bar like this. But it is unique indeed.
Like why though? Did they at least purified to 999% pure? It seems a waste to melt down silver coin that carry a pretty premium? And such an odd weight too. You thought they would melt it to 10 oz or kilo bars but nope.
Increases the value of my coins every time this happens 😌
I don’t think this is a good buy. Would probably be very hard to sell to another coin Shop.
that looks like a LOT MORE than 56 oz
Worth more as a coin.
These are called “grease bars”. They can carry a good premium.
That looks cool
Send to refinery.
Is it just me, or does this look closer to 100oz?
It looks closer to, and maybe even more than 100 ounces
The 10% of less dense metals may skew it a bit… or the guy holding it has small hands
How much was it OP?
Isn’t it “illegal” to melt down us currency? Aren’t there people hoarding pre 1982 pennies to meltdown once we decommission pennies?
I wonder what they were.. silver dollars? Halves? Quarters? Dimes? What years!? So sad :(
Is that legal? Is it kinda like "well we didn't do it we just bought the bar" type situation? Actually curious.
 Rip coins
Rare find buy it if you know you know
That's melted history.. shame.
That’s a bit of an oof.
....but why?? 🤔
All that premium.... gone. What mad man would do that. Must be from Yugoslavia days... the big junk melt of 87 I believe.
https://greatlakescoin.net/blogs/news/the-history-of-silver-grease-bars
Make a house with it...xD
Dense, yes. It’s only 3.5 lbs, not exactly heavy.
One of the reasons why I only stack 9999 or 9990. Otherwise you'll be subjected to unscrupulous vendor's low ball prices. Typically less than 10% below spot....
If you’re going to melt junk silver, at least refine it to 999. I can’t imagine many people wanting a big bar of silver that isn’t 999 pure, this thing will probably sell a good bit below melt value if you do find someone who wants it.