What to do with mutilated silver coins?

Inevitably as a collector, we come across mutilated silver coins.

We hold onto them because silver coins sell for 80% to 90% of spot, but...

if the coin is incomplete, holed (large hole), soldered, etc.... we really can't just stick it in a tube and sell it with the rest of the junk silver.

This past week I found this walker in a roll of halves. I just can't bring myself to put it in with the rest of the walkers as it is "incomplete" (for lack of a better word). Pic is attached.

What do you guys do with these?

1. Do you try to pass them off with the rest of your junk silver?
2. Do you try to sell them separate from your junk silver based on weight?
3. Do you use it to help keep your food from spoiling?

 

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I don't personally do anything however I like option two. Get a lot of the hole filled buggers together and weigh them. Then sell them off for 80-90% silver spot price.

 

They just get added to my bone-pile...

Take care
Ben

 

i keep all silver. i buy junk silver, i buy culls too. its all the same to me since i have little silver, any silver, even that walker would be welcome to my "pile".

 

I don't understand the question. They are junk, they are silver, so where's the "passing off"?

By definition when you are selling "junk silver" you are selling the metal by weight, not individual items with numismatic value.

 

Yes, but typically when one sells "junk silver coins" the value is calculated by multiplying a number by the face value making an assumption about the silver content accounting for normal wear. (roughly 0.712 oz silver per $1 face).

Now with my coin and many other mutilated coin, it's pretty obvious that there is less than 0.712oz of silver. If you had a dealer that still paid based on the assumed weight, someone could take advantage by holing all their '64 kennedies, sell them all to him, then have a tidy pile of silver shavings left over to boot.

PS. In case you guys can't read the scratchings, it says

"1949
Buddy
Chambers
Mackinac
Isl. Mich."

 

Well if you conciense bugged you about selling it based on a multiple of its face value, could just have it weighed, .9 times that would be its silver content, and asked to be paid on that (slightly less than the actual silver price since who's buying it has to make a profit).

Or just keep it. It maybe be nearly worthless in numismatic terms but is still somewhat interesting, with the inscription and all.

 

If your not attached to the coins and you want to just sell them off then just sell it to a silver dealer.

Ruben

 

I'm trying to figure out what to do with this one. (It's a Washington quarter, by the way)

 

The melting point of Silver is 961.78 °C (1763.2 °F)

Do you have a bunson burner

Ruben

 

No, my family doesn't trust me with open flames.

 

Well, you can use a big hammer and smith it into something.

Ruben

 

All sort of depends on where you live and who you know. Around me there are numerous individuals that go to garage/yard/estate sales looking for junk Silver or Gold. Items such as smashed watches, coins, etc. If you know where to go there are jewelers that take all that and naturally no one knows what they do with that STUFF. Once you know who and they get to know you, you get a standard fairly nice price for all such items. So if your in the right area, start asking around. To start with if you have a flea market in the area and there are jewelers there, ask. But just don't look like a cop when you do.

 

I think you just re-defined mutilated! LOL

Andy

 

I conquer, I think it's a 25 piece jigsaw puzzle or something.

 

I hate to be the Grammar Police, but it's concur.

I do wonder how that got to be so torn up, though. Will wire cutters chop through silver?

 

I would say it's a solid MS62 if you can put it back together.:thumb:

I just keep silver, expecting that there will be a better time and place and price to sell it in the future. The day might be coming when no silver is junk silver.

 

Everyone had to see this coming but I say send it to SGS. :mouth:

Phoenix

 

Great idea - finally an SGS MS69!

 

How about this mutilated silver coin?

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