Thursday, March 09, 2006

Scrap Silver Coins

Scrap silver coins can be a fruitful area to make a few dollars. And not just the coins, any scrap silver is worth it’s weight in … silver!

Scrap silver coins can be found in junk coins and bags of old coins. These can be purchased sometimes quite cheaply and you are only interested in the silver content, usually around 40 to 70 percent in old coins.

Do check each coin first to ensure it is not a rare or valuable one! Some times you can find quite valuable coins in junk bags that may have been missed (rare I know but possible).

There are other areas where you can find scrap silver. Old unused photographic paper. 40 percent of all silver is actually used in the photographic industry. Silver is used on photographic paper as part of the developing process of photographs.

Silver is also used in electronics, jewellery and many other areas. It is not difficult to find scrap silver in many areas of our lives.

Scrap silver coins and other scrap silver can be easily turned into money. Unless you have a foundry, the melting point of silver and any materials it is bound to will be too hot to melt down oneself. But one can go to a scrap dealer, who will pay you by weight for the scrap silver less a small handling charge.

As far as scrap silver coins are concerned, the main criteria for a silver coin as to whether it is considered scrap or a collectors item is the quality and condition of the coin. To be a collectors coin it needs to be in uncirculated condition, unless it is particularly rare when the condition is of secondary importance. If it is a common coin and has been used, it is good for the silver content and therefore scrap.

There is money in scrap, particularly silver scrap coins and it only takes a bit of work to find them and perhaps even make a few bob from them!

No comments: