I know there is a rather complicated formula (any math is complicated for me!) to determine the difference melt value of any coin. But how does that translate into money? That is, if someone buys a coin based on its melt value, do they actually melt the coin down? Say you're looking at a coin so worn it's only graded Good, but it has 90% silver. If you get it because of the silver content only, can you get the silver out of it and sell that later? How does all that work?
Far as I know, it’s perfectly legal to melt and refine silver coins. Most bulk metal traders would prefer refined ingots.
Unless I misunderstood.. this shouldn't be a complicated formula. Off the top of my head. Current melt $ × (weight in oz × fineness) on the separation part, you would place it in a crucible (heat resistant bowl used in science), you would torch the silver (acetylene works well), and then remove the slag from the top which would coagulate because of the different characteristics of the metal mixed in with silver. The slag would not be purely base metal, so you can retorch it and see if there is any more silver mixed in which you can separate. The first is easier.
This is what happens when slag is not correctly removed in our hobby. from error-ref http://www.error-ref.com/alloy-errors-slag-inclusions-3/
Your formulae are okay BUT I think there is another factors. The selling value has to take into account the cost of refining. And the profit the buyer wants. So the price you get will be less than the silver value.
I don't think that falls under the melt value definition, but yes, if you wanted to sell you certainly won't get the full melt very often.
You need a furnace. A pizza oven isn't hot enough. But once you get one you're on your way to separating out the molten silver. Just don't burn your fingers on it, use industrial-strength oven mittens, not the kind for pizza ovens.
Thanks for all the replies! It's just that I also can't imagine those who buy coins solely for their silver content and don't care about the condition of the coins. Is that what the definition of a stacked is?
Melting yourself is dangerous Just do the math and sell as close to ‘melt’ as you can If you really need bars, buy them If you try melting yourself, make sure your insurance is paid
The term is "stacker" and yeah. But stackers aren't melting silver down just buying and holding and then selling when the silver price is right. Most stackers do actually care about the condition of their coins though, most like their silver pile looking nice and Shiny, but some don't care and will stack whatever it is in any shape or size as long as the price is right, even silverware. The cheaper it is and still weighs right the better is the way it works though.
Common U.S. silver coins are traded as a commodity in and of themselves. I don’t think they are very frequently melted.
