What to do with old coins

[shane_c]

I inherited a lot of Canadian coins, mainly from the 40's-60's. I divided them up by coin and decade watching out for a few specific coins that are worth a lot (unfortunately I don't have any of those). But I'm not sure what to do with them all.

Many of the older coins are made of silver so have a higher melt value then their face value. So I don't want to just give them to the bank at face value. Nor do I really want to sell them online because that will take forever. Could I get them melted down? But then what do I do with a bar of silver?

[Locke]

Originally Posted by shane_c

I inherited a lot of Canadian coins, mainly from the 40's-60's. I divided them up by coin and decade watching out for a few specific coins that are worth a lot (unfortunately I don't have any of those). But I'm not sure what to do with them all.

Many of the older coins are made of silver so have a higher melt value then their face value. So I don't want to just give them to the bank at face value. Nor do I really want to sell them I online because that will take forever. Could I get them melted down? But then what do I do with a bar of silver?

Put it on Black?

[nik-]

Two socks. Two bikes. Fill socks with coins. Joust in the street in front of your house.

[Baron von Kriterium]

Originally Posted by shane_c

Many of the older coins are made of silver so have a higher melt value then their face value. So I don't want to just give them to the bank at face value. Nor do I really want to sell them online because that will take forever. Could I get them melted down? But then what do I do with a bar of silver?

I'll take any pre-'67 dollars and half dollars you have


The coins aren't pure silver, so melting them isn't that straight forward. You need some chemistry to separate the silver from the copper and nickel.

[Dan02]

In my attempt to be captain buzzkill i shall point out melting down coins is a violation of the Currency Act and the Canadian Criminal Code.

Not that anyone's gonna bust you.

[meritmat]

Save them to pass on to a son or daughter. Might not be worth much know but maybe it will be to the next generation

[sureLoss]

1. Go to Vegas and bring said coins.
2. Get on Pawn Stars.
3. Ask for $10 000
4. When the expert comes in and says they are worthless make a scene
5. Enjoy your 15 mins of fame and time in Vegas.
6. Pour the coins into slot machines to hopefully pay for your flight back home.

[Oil Stain]

Coin covered bars and tables look neat.

http://emgn.com/entertainment/18-ide...r-pennies-for/

[mikephoen]

You can sell the ones with silver in them to Albern Coins. They pay a fair price in my opinion, although I haven't taken any in for a few years, I expect that they still do.

[Jacks]

Originally Posted by Oil Stain

Coin covered bars and tables look neat.

http://emgn.com/entertainment/18-ide...r-pennies-for/

Pennies on the bar top, wires sticking out of the wall, cover plates missing, that must be in edmonton.

[Textcritic]

Originally Posted by Jacks

Pennies on the bar top, wires sticking out of the wall, cover plates missing, that must be in edmonton.

I'm pretty sure that is a concrete floor.

[Buff]

Originally Posted by Oil Stain

Coin covered bars and tables look neat.

http://emgn.com/entertainment/18-ide...r-pennies-for/

There's always money in the banana stand bar

[shane_c]

Originally Posted by Dan02

In my attempt to be captain buzzkill i shall point out melting down coins is a violation of the Currency Act and the Canadian Criminal Code.

Not that anyone's gonna bust you.

Thanks for keeping me out of jail. Appreciate it!

[GoinAllTheWay]

Originally Posted by shane_c

But then what do I do with a bar of silver?

Make some silver bullets. Always thought that'd be kinda cool.

[dissentowner]

All old coins are absolute worthless junk, just PM me and I will get rid of them for you at no cost!

[Nage Waza]

Originally Posted by meritmat

Save them to pass on to a son or daughter. Might not be worth much know but maybe it will be to the next generation

Not sure if this is actually true. Over time, more people who have no interest in coins (see this thread for proof) inherent collections, which wind up on the market, increasing supply, decreasing demand.

There are coins stores that might be interested in a bulk purchase of the entire collection. Don't think you are getting book value for anything, expect 60% for rare items. A bulk sale might net you 40%. The internet has really flatlined many collecting hobbies because you can simply buy what you want, and sellers have to compete to make a sale.

Coin collecting isn't as huge anymore. Collectors only want the best of the best. Similar to sports cards. They make fun hobbies for parents/kids, as there are lessons to be learned. For that reason, share with family or friends.

I am not really a 'coin collector', but am a collector. On occasion I buy roman coins, shipwrecks, etc. Anything really really old. There is something I find amazing holding something so old. I doubt I make money off them, ever.

[Barnet Flame]

Originally Posted by dissentowner

All old coins are absolute worthless junk, just PM me and I will get rid of them for you at no cost!

People coming together and looking out for each other.

This is what I love about CP.

[Locke]

Have you considered just driving around the City and throwing them at the homeless?

Or you probably just donate them to the homeless in a less violent manner, but you do you.

[Fuzz]

Originally Posted by Nage Waza

Not sure if this is actually true. Over time, more people who have no interest in coins (see this thread for proof) inherent collections, which wind up on the market, increasing supply, decreasing demand.

There are coins stores that might be interested in a bulk purchase of the entire collection. Don't think you are getting book value for anything, expect 60% for rare items. A bulk sale might net you 40%. The internet has really flatlined many collecting hobbies because you can simply buy what you want, and sellers have to compete to make a sale.

Coin collecting isn't as huge anymore. Collectors only want the best of the best. Similar to sports cards. They make fun hobbies for parents/kids, as there are lessons to be learned. For that reason, share with family or friends.

I am not really a 'coin collector', but am a collector. On occasion I buy roman coins, shipwrecks, etc. Anything really really old. There is something I find amazing holding something so old. I doubt I make money off them, ever.

Where the hell do you store a shipwreck?

[meritmat]

Originally Posted by Fuzz

Where the hell do you store a shipwreck?

Shipwreck coins. Lots of coins from various shipwrecks