Newbie questions

Bioheat1969

Senior Member
Joined
May 4, 2021
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440
Location
Dudley, MA
So I have newbie questions try not to be too hard on me. I see people talk about melt value when they're talking about Their finds no are you guys melting them down into raw materials, melting silver coins and rings and bracelets or are you guys selling them as collectible coins, jewelry and stuff and trying to get market value for it.
 
The two times I’ve sold gold finds, one was to a gold buyer placed that gave me about 82% of melt value and the second time I mailed it to a refinery that paid 95% of melt. Too much trouble to me, to try and get any market value out of things. I have kept some items I felt it would be a shame to melt, and it really wasn’t easy for me to give away my treasures :pirate: but that’s how I bought my Nox, coils, headphones and Sampson.
 
The two times I’ve sold gold finds, one was to a gold buyer placed that gave me about 82% of melt value and the second time I mailed it to a refinery that paid 95% of melt. Too much trouble to me, to try and get any market value out of things. I have kept some items I felt it would be a shame to melt, and it really wasn’t easy for me to give away my treasures :pirate: but that’s how I bought my Nox, coils, headphones and Sampson.

yeah, 100%. price it to sell and take what ya can! you didn't have the item before, anyhow. once you start only taking top dollar for finds the "fun" hobby becomes stressful. at least, it would for me.
 
You didn,t answer his question as to what "melt value" is.Melt value is essentially the spot metal market price of that metal without any added premium such as a rare date silver coin,famous maker gold ring,you get the idea.Most people don,t actually melt it themselves,just sell it to a refiner who buys it,pays you a price based on the daily spot metals price and then melts it along with refining it to .999. Melt value is one of those words that savvy metals guys like to use that really has little value except to confuse the uninitiated.You see all kinds of terms and abbreviations on here that only make sense to the arcane.Hang in there,you,ll get it.
 
Whether you're buying/selling precious metals or buying a car you have to do your homework first so that you don't get taken. Knowing what melt value is, helps to prevent you from being taken to the cleaners. If you're dealing with an honest buyer of precious metals you will get very close to melt value when you sell it to them. Go there with no knowledge of the market and the sly ones will take advantage of your lack of knowledge every time.
 
Here's a link I found online:

COIN MELT VALUES

https://www.ngccoin.com/price-guide/coin-melt-values.aspx

Note: A coin's numismatic or collector value may be higher than its melt value, so melt value is often considered when a coin is in such bad shape that the melt value is easily more than the value to a collector. (and it is recommended that you let the company that buys your melt value coins to do the melting, it is likely extremely rare for anyone to try it themselves, and why bother going thru all the trouble yourself as they would likely re-melt it anyhow)
 
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So I have newbie questions try not to be too hard on me. I see people talk about melt value when they're talking about Their finds no are you guys melting them down into raw materials, melting silver coins and rings and bracelets or are you guys selling them as collectible coins, jewelry and stuff and trying to get market value for it.
IMO, it’s cheaper to sell outright than the cost and dangers of home melting.
 
I sell my gold scrap to the refiner for 95% settlement and sterling/coin silver for 90%. Like another poster said, I'd just as soon ship it to a refiner, cutting out the middle-man than trying to sell it online or to a pawn shop. Just too many scammers out there.
 
You didn,t answer his question as to what "melt value" is.Melt value is essentially the spot metal market price of that metal without any added premium such as a rare date silver coin,famous maker gold ring,you get the idea.Most people don,t actually melt it themselves,just sell it to a refiner who buys it,pays you a price based on the daily spot metals price and then melts it along with refining it to .999. Melt value is one of those words that savvy metals guys like to use that really has little value except to confuse the uninitiated.You see all kinds of terms and abbreviations on here that only make sense to the arcane.Hang in there,you,ll get it.

I think that’s a matter of opinion. I don’t see where he asked “what is metal value”.
 
A handy App for your mobile devices is the Kitco Gold Live app. Updates spot prices of gold, silver, platinum and other precious and non-precious metals all day long. Also tracks Dow-Jones, NYSE, NASDAQ etc, you can edit/customize what it shows you.
 
Most of the "We buy gold" places will take you to the cleaners. From the ads i have seen in my area they do not pay more than 60 percent of the value of the amount of gold in a ring etc.

There are a number of web sites that will tell you the current value of the precious metal in an item.

At the moment one gram of 14K gold is worth about $33.70. As the price of gold luxates so does the melt value of an item.
 
Ok, thank you all so much for answering my question(s) both the asked and implied. All of your answers I find helpful. I wasn't really sure what people were doing with their finds, especially when so many posts spoke of melt value. The terminology and abbreviations used on this and other forums tend to be a bit confusing almost like speaking another language.
That being said, I still have some questions about coins, I've been seing people talk about coins that have certain percentages of silver, so obviously you're not melting the stuff down, do you sort it into categories to get a higher pay out when you sell it to someone who does melt it the way I have to sort my scrap metal for the scrap yard? Or do you just call it all silver and let them sort it out? Sor instance if I turn in sat copper flashing, but it's full of iron or aluminum nails, the yard calls it #2 copper and pays me a lower price, where as if it's "clean" it's #1 copper and I get paid more. Or am I all bass ackwards in my understanding of this?
 
Ok, thank you all so much for answering my question(s) both the asked and implied. All of your answers I find helpful. I wasn't really sure what people were doing with their finds, especially when so many posts spoke of melt value. The terminology and abbreviations used on this and other forums tend to be a bit confusing almost like speaking another language.
That being said, I still have some questions about coins, I've been seing people talk about coins that have certain percentages of silver, so obviously you're not melting the stuff down, do you sort it into categories to get a higher pay out when you sell it to someone who does melt it the way I have to sort my scrap metal for the scrap yard? Or do you just call it all silver and let them sort it out? Sor instance if I turn in sat copper flashing, but it's full of iron or aluminum nails, the yard calls it #2 copper and pays me a lower price, where as if it's "clean" it's #1 copper and I get paid more. Or am I all bass ackwards in my understanding of this?
I haven’t sold any of my silvers found over the last 12 years, I really have no need to, but I’ve been involved with PM’s since about 1977. The majority of silvers you’d sell from MD’ing are going to be 90% content, (pre-1965). Make sure you have no numismatic higher value, lower mintage key date coins, then you’ll sell the bulk of the rest for current melt, or spot value. Today there’s a slight premium over melt due to higher market demand. Hope this helps.
 
I've never even thought about melting down my finds. Silver's silver regardless of what shape its taking, and I expect going through so much trouble could only amount to a net loss. Plus I like the way my horde looks like pirate's treasure when all the pieces are odd shapes. I don't intend to sell unless there's a pretty big emergency.
 
Melt value is what something is worth just for the precious metal value. But many rings are worth a lot more than melt value. I sold a gold ring I found a couple of years ago for $330 on eBay. It's melt value at the time was $240, so I got $90 over melt for it.
 
Melt value is what something is worth just for the precious metal value. But many rings are worth a lot more than melt value. I sold a gold ring I found a couple of years ago for $330 on eBay. It's melt value at the time was $240, so I got $90 over melt for it.

I guess this is what I was trying to figure out. I know if I find a really nice ring or necklace, swmbo will confiscate it, but as long as it's not something that she wants, then I wanted to know what folks do with this stuff.
 
I think the best way to think of it is 'melt value' is about value - not melting. It's not hard to sell silver coins in their coin form - for the value of the silver (or melt value) without anybody actually melting them. In other words, the value of a silver coin is at least the value of the silver content.
 
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