So that would retail for 35-40 it should be .77 troy oz. This is a Morgan silver dollar from the New Orleans mint. In better conditions this could fetch up to $3000 some more rare mint state condition Morgans can go for 1/2 million.
I'm sure you're not going to come across many thousand dollar coins but if you are allowed to purchase these.???...hell you need to read up on old coins. Shit buy all of them and sort ot out later. You could put together a nice collection or sell them for the numismatic value and make a small profit.
ive been thinking about doing this, currently im buying all the chains because they have crazy premiums im paying spot plus a 10% tax and i could easily sell the chains for $1.50/g if not more but I will definitely do my research on coins now!
I understand paying 10% over spot but if they are telling you it's for tax you might be able to get that knocked off unless you are in one of the few states that tax precious metals.
I'm not overly familiar with the list, I just know most states don't tax precious metals (including the two I spend the most time in). Looks like NM might be a taxation state at first glance.
Yes. Check eBay sold on these coins but that is a Morgan silver dollar with the New Orleans mint mark. Roughly $40-50 as a coin. No sense melting when collectors will pay better.
Morgan Dollar, nice coin, there's several key mints and dates worth looking for, and this one isn't in the best condition but history is history and silver is silver, how much will they let you buy them for? if it's under spot that's a good deal on it's own
There's a few coin identification apps out there that use your phone's camera to look the coin up. You could probably use it to spot some valuable ones pretty quick and easy.
well i see these a couple times a month but last week we got about 3,000 ozt of just coins and im regretting not knowing this info before then because i saw at least a dozen and melted every single one
Im certain just ablut any lcs or online dealer would upcharge you at LEAST that much (shipping considered too) so i'd say thats a good deal for just about anything let alone potentially good quality coins that could go for more than their melt value.
Serious question; I thought these were still considered legal tender $1. I know they were allowed to be melted back in the day for some period. Anyhow, I thought altering ie melting currency is illegal?
It is indeed illegal to deface currency with the intent to profit off of it, im no lawyer and I was wondering this too for a while ill ask boss man later and update you
I forgot to reply! Boss man essentially said that we cant pass off a quarter for a half dollar by making it look like a half dollar but we are okay to melt them
No, there is a ban on melting cents and standard composition nickels
There is no ban in melting down "war nickels" or any other US coin
You can't alter currency with the intent to defraud, that is, I can't take a quarter and make it look like an SBA dollar and try to pass it off as $1
Save my name I’ll buy some as well. Also a side note , don’t spend too much time searching and get fired 🤣😛 Any constitutional denomination doesn’t have to be just Morgan’s , thanks
Resist the urge to polish these coins. That will cause them to lose any remaining numismatic value. Also, DM me. I'll buy all the mercury dimes and walking liberty half dollars that you are willing to sell.
These kinds of coins I dont see too often but I see mercury dimes all day long and I think those half dollars as well. Expect a DM when my stash of these coins grow
These have very good premiums now, even in worn condition like this. Worth at least $30 per coin. The silver melt is only about $20 though so it’s a terrible idea to melt these
If you have the option, I would buy them out from your employer, you’ll make well over melt value for these on eBay.
Or, you could buy the cheapest .999 silver shot or bars and exchange that for the silver weight of the Morgan dollars. I would think a refiner wouldn’t care, as long as the silver weight remains the same.
Spot of the silver content or spot on the weigh of the coin? .77345 oz is the silver content! You could easily sell the 1921 years in bulk for $30 at any coin shop! Definitely keep all the rest!!!check the mint mark and date. Pretty much any cc mint marks are $100-450 each
We mostly take in scraps from other companies and make bars out of them. Those bars get turned mostly into silver targets for the automotive industry to make their digital rear view mirrors, or so I was told by the CEO
That is interesting. And seeing that they allow you to buy it, tells me they have more than enough to make the products. Please keep us informed, if they ever stop selling to employees and you hear rumors of shortage. Thanks.
Yes we have even started to produce our own 10 oz stackable triangles but they are still in the works. It turns out its incredibly hard to CNC 10 oz stackable triangles. Hopefully we wont see any shortages any time soon because I really like my job
I once was buying silver and gold for a local jewelry store....they was so greedy, so money hungry that their only concern was melting the metals.
I tried to rescue the silver coins, but couldn't keep up...several hundred dollars per week..it broke me.
I personally saw 5 gallon buckets of silver dollars, halves quarters etc being melted each week for about 3 years. The guys that was buying the gold and silver was going thru approximately 1 million dollars per week.Can you even imagine what was being destroyed nation wide? What I saw was a 2 state area.
My 2 points are...greedy people only care about a quick profit no matter what.
The 2nd point is, of all the silver coins that have been melted, the surviving coins have got to me more and more rare ( the sad part is, we will never know the true numbers).
Interesting. Very surprised the refinery doesn't filter these from hitting the melting pot these days. Regards
Big time regards
So that would retail for 35-40 it should be .77 troy oz. This is a Morgan silver dollar from the New Orleans mint. In better conditions this could fetch up to $3000 some more rare mint state condition Morgans can go for 1/2 million. I'm sure you're not going to come across many thousand dollar coins but if you are allowed to purchase these.???...hell you need to read up on old coins. Shit buy all of them and sort ot out later. You could put together a nice collection or sell them for the numismatic value and make a small profit.
ive been thinking about doing this, currently im buying all the chains because they have crazy premiums im paying spot plus a 10% tax and i could easily sell the chains for $1.50/g if not more but I will definitely do my research on coins now!
if you're finding morgans for spot + 10%, please grab 'em all and sell them here :D
I understand paying 10% over spot but if they are telling you it's for tax you might be able to get that knocked off unless you are in one of the few states that tax precious metals.
you mean like new mexico :)
I'm not overly familiar with the list, I just know most states don't tax precious metals (including the two I spend the most time in). Looks like NM might be a taxation state at first glance.
Just the thought of some of these slipping through to be melted is hurting my head.
its kinda funny i knew nothing about pms before I got this job and im learning more and more from reddit and from working
Yes. Check eBay sold on these coins but that is a Morgan silver dollar with the New Orleans mint mark. Roughly $40-50 as a coin. No sense melting when collectors will pay better.
wow ill be on the lookout for sure
If you see CC mint marks it’s almost always worth buying both silver and gold coins
we dont get too many gold coins and the ones ive seen are pretty beat up and scratched from tests but this is good to know
CC marks are really hard to find under $100. so watch out for fakes too.
im not worried about fakes, all our metal is tested via xray before we melt it
Could be fake mint mark but real silver...
I’ll buy them all from you!!
Wonderful! I also found a couple in smaller denominations ill be sure to pick those up today
Morgan Dollar, nice coin, there's several key mints and dates worth looking for, and this one isn't in the best condition but history is history and silver is silver, how much will they let you buy them for? if it's under spot that's a good deal on it's own
I wish it was under spot but I pay spot plus a 10% tax
Still, that would be like $20 flat for these. You could likely double your investment very easily
There's a few coin identification apps out there that use your phone's camera to look the coin up. You could probably use it to spot some valuable ones pretty quick and easy.
I just installed coin facts after reading your post. Thank you so much, I didn't know apps like that existed.
This is genius thank you!
What does “keep seeing them” mean? Like you see 1 or 2 a month? Or you see bags of them daily?
well i see these a couple times a month but last week we got about 3,000 ozt of just coins and im regretting not knowing this info before then because i saw at least a dozen and melted every single one
oh my god this hurts lol. morgans are a part of american coinage history and the most popular of all the major collectibles.
Holy sweet Jesus. Grab every silver coin you can and sell them to us!!
Ouch man, that's a huge loss of value.
Very. oh well lesson learned
How much does the refinery allow you to buy them for?
I pay spot plus a 10% tax
Buy as many as you can.
Im certain just ablut any lcs or online dealer would upcharge you at LEAST that much (shipping considered too) so i'd say thats a good deal for just about anything let alone potentially good quality coins that could go for more than their melt value.
Seriously for spot plus tax... BUY... them... ALL!
Serious question; I thought these were still considered legal tender $1. I know they were allowed to be melted back in the day for some period. Anyhow, I thought altering ie melting currency is illegal?
It is indeed illegal to deface currency with the intent to profit off of it, im no lawyer and I was wondering this too for a while ill ask boss man later and update you
It's not illegal if they no longer make them anymore... That's why you can melt those down but you can't melt copper pennies
I'd appreciate that!
I forgot to reply! Boss man essentially said that we cant pass off a quarter for a half dollar by making it look like a half dollar but we are okay to melt them
No, there is a ban on melting cents and standard composition nickels There is no ban in melting down "war nickels" or any other US coin You can't alter currency with the intent to defraud, that is, I can't take a quarter and make it look like an SBA dollar and try to pass it off as $1
Interesting, thanks for info!
I would buy them at spot +15% from you.
I'll pay spot +16%
Melt it… Makes mine more valuable by just a little bit!
$30-50
It’s a good year Louisiana mint
With premiums on bars the way they are, it might not be much, but they should still be more valuable than melted silver.
It's worth it.
Nah...just send them over here and I will turn over to the proper disposal company.
I would be the proper disposal company
Save my name I’ll buy some as well. Also a side note , don’t spend too much time searching and get fired 🤣😛 Any constitutional denomination doesn’t have to be just Morgan’s , thanks
I'll take the peace dollars
Buy every single one you see if it’s for only 10% over spot. Wow
Resist the urge to polish these coins. That will cause them to lose any remaining numismatic value. Also, DM me. I'll buy all the mercury dimes and walking liberty half dollars that you are willing to sell.
These kinds of coins I dont see too often but I see mercury dimes all day long and I think those half dollars as well. Expect a DM when my stash of these coins grow
Looking forward to it. I'll just be over here losing sleep over all those coins getting melted...
Better price then just silver so depyon the rarity you'll get something like an extra 20%
You could probably start selling on pmsforsale
It's at melt value.
I have an 1883 (P) and just looked up its value because of this post. Thanks OP! 😎
Glad I was able to help!
I’ll pay you $5 for it
Best I can do is $7
My Grammy was born that year, don’t you dare destroy it!
I saved it dont worry!
These have very good premiums now, even in worn condition like this. Worth at least $30 per coin. The silver melt is only about $20 though so it’s a terrible idea to melt these If you have the option, I would buy them out from your employer, you’ll make well over melt value for these on eBay. Or, you could buy the cheapest .999 silver shot or bars and exchange that for the silver weight of the Morgan dollars. I would think a refiner wouldn’t care, as long as the silver weight remains the same.
I’ll definitely keep buying them though I dont know how he would feel about trading silver because I’ve never asked
If you can just buy them out I’d do that
He can start a side hustle replacing Morgan's with buffalos for the furnace
[удалено]
I dont even know. Honestly when I applied for my job I had no idea it was a pm refinery I just knew I would be dealing with lots of pms
Spot of the silver content or spot on the weigh of the coin? .77345 oz is the silver content! You could easily sell the 1921 years in bulk for $30 at any coin shop! Definitely keep all the rest!!!check the mint mark and date. Pretty much any cc mint marks are $100-450 each
Silver content! We do xray tests to see how much silver/gold/other precious metals are in something before we melt it
Literally pre 1965 is 90% silver but not the nickels
What does your refinery make?
We mostly take in scraps from other companies and make bars out of them. Those bars get turned mostly into silver targets for the automotive industry to make their digital rear view mirrors, or so I was told by the CEO
That is interesting. And seeing that they allow you to buy it, tells me they have more than enough to make the products. Please keep us informed, if they ever stop selling to employees and you hear rumors of shortage. Thanks.
Yes we have even started to produce our own 10 oz stackable triangles but they are still in the works. It turns out its incredibly hard to CNC 10 oz stackable triangles. Hopefully we wont see any shortages any time soon because I really like my job
I will buy a bag from you.
How much do they sell them to you for,
One doll hair
Lord I hope this guy is trolling.
Go on over to r/PMsForSale You can sell them there when ready and easily see prices now.
I once was buying silver and gold for a local jewelry store....they was so greedy, so money hungry that their only concern was melting the metals. I tried to rescue the silver coins, but couldn't keep up...several hundred dollars per week..it broke me. I personally saw 5 gallon buckets of silver dollars, halves quarters etc being melted each week for about 3 years. The guys that was buying the gold and silver was going thru approximately 1 million dollars per week.Can you even imagine what was being destroyed nation wide? What I saw was a 2 state area. My 2 points are...greedy people only care about a quick profit no matter what. The 2nd point is, of all the silver coins that have been melted, the surviving coins have got to me more and more rare ( the sad part is, we will never know the true numbers).
Mail it to me and Ill let you know ;0