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I noticed Sarnia silver are selling 2010 Lakota copper rounds for 92p with just a couple of pounds for delivery if you got a few.

https://www.sarniasilver.com/store/index.php?page=copper-rounds

A quick price check on EBay shows other sellers are putting these up for £3-£5 ish and getting sales at these prices so with a bit of legwork it should be possible to turn  £25's worth of copper into 3-4oz of silver.

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1 hour ago, metallica73 said:

Could be done... looks like 1 seller in the UK has cornered the market at £5.15 delivered so they're making £3.15 taking into account postage/fees

That is a lot of effort though packaging lots of different single parcels.

Or you wait for a no fees Ebay day and sell 5x lots of 5 @ £20 delivered, you must see £60 profit at least.

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I get my copper from change, pre 1992 1p and 2p's i keep in a jar, worth around double its face value in copper, got about 1.5kg now and that without particularly going out of my way and getting bags of 1's and 2's from the bank, might try doing that one week.

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On 05/01/2018 at 00:24, DaveWheat89 said:

I get my copper from change, pre 1992 1p and 2p's i keep in a jar, worth around double its face value in copper, got about 1.5kg now and that without particularly going out of my way and getting bags of 1's and 2's from the bank, might try doing that one week.

i might be falling for an old wife,s tale here.....but isnt it illegal to melt down coins ?

i dont mean the old rule about defacing the queens image, but isnt melting for scrap still against the law?

 

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22 hours ago, greendragon said:

i might be falling for an old wife,s tale here.....but isnt it illegal to melt down coins ?

i dont mean the old rule about defacing the queens image, but isnt melting for scrap still against the law?

 

yes melting pennies for copper is illegal, im not melting them, i just collect them

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On 05/01/2018 at 00:24, DaveWheat89 said:

I get my copper from change, pre 1992 1p and 2p's i keep in a jar, worth around double its face value in copper, got about 1.5kg now and that without particularly going out of my way and getting bags of 1's and 2's from the bank, might try doing that one week.

Snap. I have an old tub where I dump them hoping for the day they become demonetised. 

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23 hours ago, greendragon said:

i might be falling for an old wife,s tale here.....but isnt it illegal to melt down coins ?

 

You can  melt or scrap the demonitised ones.This is why they can melt predecimal silver. 

Interesting note - in the list of predecimal coins that you are allowed to melt, they left out the double florin by mistake, which actually mean they are legal tender (face value 25 pence) and as a result illegal to scrap. This also means that they are CGT free if you ever need to make the case on capital gains on them. 

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1 hour ago, ilovesilverireallydo said:

You can  melt or scrap the demonitised ones.This is why they can melt predecimal silver. 

Interesting note - in the list of predecimal coins that you are allowed to melt, they left out the double florin by mistake, which actually mean they are legal tender (face value 25 pence) and as a result illegal to scrap. This also means that they are CGT free if you ever need to make the case on capital gains on them. 

Is it only circulation coins and not silver Brits etc?

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1 hour ago, kimchi said:

Is it only circulation coins and not silver Brits etc?

Any legal tender is illegal to melt, including Brits. However this law was really only enforced on common circulation coins. 

Another interesting point: You can take your UK copper to France to melt if you were so inclined, as France has no current law protecting the preservation of currency in metal form (it used to but got rid of the law). 

However I wouldnt advise it  - the law is one thing, the actual practice of it a different thing altogether. 

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3 hours ago, ilovesilverireallydo said:

You can  melt or scrap the demonitised ones.This is why they can melt predecimal silver. 

Interesting note - in the list of predecimal coins that you are allowed to melt, they left out the double florin by mistake, which actually mean they are legal tender (face value 25 pence) and as a result illegal to scrap. This also means that they are CGT free if you ever need to make the case on capital gains on them. 

Useful to know if i collect £11.3k worth of double florins ^_^

Edited by Martlet

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1 hour ago, ilovesilverireallydo said:

Any legal tender is illegal to melt, including Brits. However this law was really only enforced on common circulation coins.

We have had the discussion before about taking payment in gold and silver legal tender coins. i say you take them for their face value others say you cannot do this. However i have posted this before and i will post it again, as you cannot legally melt these coins down for their metal content the gold and silver UK coins have no gold and silver value. They only have value for their face value. If it is an offence to melt them down so you cannot legally extract the value of the metal.

Now in reality people will melt them down but those who claim authority could prosecute.

This is why getting paid in 100 x £2 Britannias is a payment of £200 - not $1650 or whatever the GBP spot price is. You cannot legally get the silver out of the coin so it is only a £2 coin.

Edited by sixgun

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On 05/03/2018 at 09:29, ilovesilverireallydo said:

You can  melt or scrap the demonitised ones.This is why they can melt predecimal silver. 

Interesting note - in the list of predecimal coins that you are allowed to melt, they left out the double florin by mistake, which actually mean they are legal tender (face value 25 pence) and as a result illegal to scrap. This also means that they are CGT free if you ever need to make the case on capital gains on them. 

Excuse my pedantry but the double florin actually has a face value of 20p. 

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I also keep my pre 1992 two and one penny coins. It can only be a matter of time before they take the 1p and 2p out of circulation. Have you noticed how few things are priced at £x.99 nowadays compared to even just a few years ago?

For the last 4 years I have saved change in a bucket*. This year has seen a dramatic reduction in 1 and 2 penny coins in my bucket. In fact I have less that £3 worth from the whole year compared to a good £10 worth in previous years.

*I have not used coins to buy anything over the last 18 months. All my cash spending is done using notes, I save the change and cash it in for sovereigns. I can easily "save" £150 per month this way and I don't miss it.

 

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26 minutes ago, CarlosSilver said:

*I have not used coins to buy anything over the last 18 months. All my cash spending is done using notes, I save the change and cash it in for sovereigns. I can easily "save" £150 per month this way and I don't miss it.

 

Snap. I do too. All my coins go in my PM buying pot

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On 05/03/2018 at 09:05, DaveWheat89 said:

yes melting pennies for copper is illegal, im not melting them, i just collect them

A lot of metal scarp yards will pay you the current copper price for them.  What they do with them after that is not your problem then :D

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