US Coinage Intrinsic (Melt) Value

If these kind of data are of any interest to you, you will definitely want to bookmark this site. To the best of my knowledge, it's the only one of its kind on the net and the owner, Alec Nevalainen, updates it on a regular basis. I've been checking it about once a month for the past couple years. The "about" page is an interesting read and the "countries" page shows which countries' coinage, besides the US, he keeps track of. All in all, an excellent site.
http://www.coinflation.com/

There are several factors that contribute to the phenomenon described by Gresham's Law. "Coinflation" is one of them.

1965 - 2007 Washington Quarter Value (United States)
U.S. MINT SPECIFICATIONS
Denomination: $0.25
Obverse Image: George Washington, first President of the United States.
Reverse Image: 1965-1974, 1977-1998: The presidential coat of arms (an eagle with outstretched wings).
1975-1976: Bicentennial (all were dated 1776-1976).
1999-2007: Statehood designs.
Metal Composition: 91.67% copper, 8.33% nickel
Total Weight: 5.67 grams
$0.0571454 is the melt value for the 1965-2007 quarter on October 12, 2007.

1932 - 1964 Silver Quarter Value (United States)
U.S. MINT SPECIFICATIONS
Denomination: $0.25
Obverse Image: George Washington, first President of the United States.
Reverse Image: The presidential coat of arms (an eagle with outstretched wings).
Metal Composition: 90% silver, 10% copper
Total Weight: 6.25 grams
$2.4953456587 is the total melt value for the 1932-1964 silver quarter on October 12, 2007.

This is great reading.... thanks

You're very welcome, WH.

Make sure you check the dates on your pocket change before you buy that next pack of gum!

I read an article a year or two ago that said that because of rising costs in metals (not just copper, gold and silver), that it now costs over 1 cent to produce a US penny (even zinc has gotten expensive) and over 5 cents to produce a US nickel.

Considering that inflation has multiplied roughly five times since the late-60's/early-70's, and we got along fine then with the equivalent of nickels as the lowest currency, I'm all in favor of abolishing the penny. Almost every country in the world has gotten rid of coinage that is worth roughly 0.01USD.

keep in mind it is illegal to melt US coins, and in some countries it is offensive to mutilate coins.
obviously the penny smashing machines are an exception because part of the money goes to the mint to produce another penny.

Coin collectors would freak if you melted down many of the traditional silver or gold coins, collector value sometimes exceeds the melt value or face value of the coin many times over. if your still curious how much a collector would pay, check the check stand at your grocery store, they usually carry a current coin collectors booklet.

Not true. You can do anything you want with US currency and coins, as long as their is no intent to defraud.

Under the new rules, it is illegal to melt pennies and nickels. It is also illegal to export the coins for melting. Travelers may legally carry up to $5 in 1- and 5-cent coins out of the USA or ship $100 of the coins abroad "for legitimate coinage and numismatic purposes."
Violators could spend up to five years in prison and pay as much as $10,000 in fines. Plus, the government will confiscate any coins or metal used in melting schemes.
http://www.usatoday.com/money/2006-1...ban-usat_x.htm

mutilating currency:
United States Code
TITLE 18 - CRIMES AND CRIMINAL PROCEDURE
PART I - CRIMES
CHAPTER 17 - COINS AND CURRENCY
§ 333. Mutilation of national bank obligations

“Whoever mutilates, cuts, defaces, disfigures, or perforates, or
unites or cements together, or does any other thing to any bank bill,
draft, note, or other evidence of debt issued by any national banking
association, or Federal Reserve bank, or the Federal Reserve System,
with intent to render such bank bill, draft, note, or other evidence
of debt unfit to be reissued, shall be fined under this title or
imprisoned not more than six months, or both.”
FINDLAWhttp://caselaw.lp.findlaw.com/caseco...ction_333.html
or
http://assembler.law.cornell.edu/usc...3----000-.html
I will give you that it is sketchy as to weather mutilation by itself is legal as it is in reference to coins under current circulation, but it is ill advised. also the original post in this thread was in reference to melt value not just melting.

Two schools:

1) The Edge of Coins were originally serrated so that it could be determinend if The Buyer had "Shaved" the Coin.

2) Coins were used in payment to Northern tribes who did not always trust the Roman silver and would cut into it to make sure it was not silver-plated copper. The serrated edges made the coins look like they had already been tested.