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Is it legal to melt ASE's or AGE's ?

1630Boston1630Boston Posts: 13,781 ✭✭✭✭✭
edited June 18, 2018 12:14PM in Precious Metals

Is it legal to melt Modern Silver/Gold American Eagles ?
Just wondering :smile:

Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

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Comments

  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    Absolutely...

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭

    Is a GSE anything like a AGE? ;)

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • 1630Boston1630Boston Posts: 13,781 ✭✭✭✭✭

    @PerryHall said:
    Is a GSE anything like a AGE? ;)

    I'll let you know when I find my glasses :smile:
    Thanks

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Why would you want to ? :(

    Timbuk3
  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    Cents and nickels though are endangered and protected.

  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    @Timbuk3 said:
    Why would you want to ? :(

    Why not! They are considered bullion coins.....Thousand were melted during the last gold run -up 2010-2012, along with first spouse 1/2 oz gold coins. Just ask any bullion dealer. Those were the good ole days.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    @OPA said:

    @Timbuk3 said:
    Why would you want to ? :(

    Why not! They are considered bullion coins.....Thousand were melted during the last gold run -up 2010-2012, along with first spouse 1/2 oz gold coins. Just ask any bullion dealer. Those were the good ole days.

    because as an investment they are more desirable in their original state than they are in a block of unknown quality gold.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    derryb.....The question was: "Is it legal to melt Modern Silver/Gold American Eagles?"

    and there is only one answer...YES

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭

    It's a waste of energy.

  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    @OPA said:
    derryb.....The question was: "Is it legal to melt Modern Silver/Gold American Eagles?"

    and there is only one answer...YES

    And the follow up question of "why would you want to?" was answered with "why not." I simply provided a logical reason for "why not."

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I would not consider melting my AGE's or ASE's.... far more 'liquid' in coin form... Cheers, RickO

  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭

    I could see a jeweler or a small manufacturer of custom made jewelry or some other artisan using coins that are only worth close to melt as a readily available source of gold and silver. Otherwise, melting coins just to make a bar of metal doesn't make financial sense.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    @PerryHall said:
    I could see a jeweler or a small manufacturer of custom made jewelry or some other artisan using coins that are only worth close to melt as a readily available source of gold and silver. Otherwise, melting coins just to make a bar of metal doesn't make financial sense.

    It does and it did for a lot of the "bullion" ASEs, AGE's & first spouse gold coins, those that had tripled or quadrupled in value over a short period of time during the run up ending in 2011-2012. It was more profitable to sell them to refiners directly instead of marketing them. The margin over bullion value for those coins was just to slim. I'm not talking about the Proof or Mint Marked coins, except for the first spouse fiasco.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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