How Much Recyclable Silver Can You Find in Coin Rolls from the Bank?

How Much Recyclable Silver Can You Find in Coin Rolls from the Bank?

Some people who go looking for recyclable silver are applying this simple strategy...They go to a bank, buy rolls of coins and then sort through them, looking for coins from certain years that contain silver. If they can find just one or two old silver coins, they can recycle them and make money. And the more coin rolls they buy, the more money they make. At least, that’s the theory....

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Metal-Hunting Season Is Starting Just as Swimming Season Ends

Metal-Hunting Season Is Starting Just as Swimming Season Ends

That’s why this could be a very profitable season to go looking for valuable items that people have lost during the summer months. Rings, watches, cellphones and other stuff is out there waiting for you, so let’s review some of the strategies that can help you find them. 

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Four Videos that Can Help You Discover New Sources of Recyclable Silver

Four Videos that Can Help You Discover New Sources of Recyclable Silver

We really like hobbyists who spend their time looking for bits and pieces of silver to recycle. Luckily for us, some of those smart silver-hunters like to post videos on YouTube that explain all the places they hunt for silver. Today, we’d like to share four of their more eye-opening videos with you

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Silver Bullets, Golden Guns

Silver Bullets, Golden Guns

Silver bullets have figured in legends, TV shows and movies for years. The Lone Ranger, a hero from the early days of TV, fired silver bullets as symbols of justice and honor. Golden guns have been the stuff of legend too. One example? In the film “The Man with the Golden Gun,” an evil assassin named Scaramanga, who packs a golden gun, is trying to shoot James Bond. Are there really silver bullets and gold guns that you should be on the lookout for? Can you find some in antique stores or for sale online, buy them at low prices, and recycle them profitably with us? Let’s take a closer look.

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Lock in Future Silver Price Increases Today . . .

Lock in Future Silver Price Increases Today . . .

If you have been waiting to recycle or sell silver until trading prices rise, we invite you to consider a Specialty Metals Smelters and Refiners Pool Account.  Our Pool Account offers significant benefits, including the ability to sell your silver when prices rise in the future.

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5,200 Anglo-Saxon Coins Found with a Metal Detector Go on Display in London

5,200 Anglo-Saxon Coins Found with a Metal Detector Go on Display in London

If you happen to be in London this week, I’d urge you to visit the British Museum. A treasure of 5,200 coins found by a man named Paul Coleman has just gone on display there. Mr. Coleman isn’t a coin collector exactly. He’s a hobbyist who found the coins last year with his metal detector in Lenborough, a small town north of London. The coins were buried in a lead container, probably in the 11th century. They are made of silver and show images of two kings named Ethelred II and Canute. Read more:

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Open Things Up, Find Precious Metals, Make Money

In the last five years, I have been in two old buildings that contained large old safes that could not be opened. One building was a small inn in New Hampshire, the other was a former plumbing supply store in New Jersey. In both instances, the buildings had recently been purchased, so the safes and their contents belonged to the new owners. But those owners didn’t seem to be in a big hurry to bring in a locksmith to open the safes to determine what was inside.

If I owned those safes, I would have been in a hurry. What were the new owners waiting for? I have no idea, because “closed boxes” sometimes contain surprisingly valuable items. And “closed boxes” can come in many forms . . .

As this photo shows, you never know what precious metal objects you might find in your house that Specialty Metals can recycle into extra money for you.

Clutter Lying Around the House

A cousin of mine who was cleaning up his basement storage shelves found a box that he and his wife had never opened. When he looked inside, he discovered a set of silver-plated candlesticks from a prestigious store. Where had they come from? Was it a wedding present that he and his wife had never bothered to open? He and his wife didn’t know, but they did know that they had something on their hands that was worth money.

Small Items Hiding in Drawers

When I open my dresser drawer and review what is rolling around in there, a lot of items appear worthless. But I also see a set of very old tuxedo-shirt studs that came from “somewhere” and look like gold. There is also an old set of cufflinks, which came from the same “somewhere.” I could use some cash for holiday spending. I should send them to a trustworthy, qualified gold refiner and recycler like Specialty Metals Smelters and Refiners for testing.

Inherited Items

I know people who inherited “stuff” from parents or grandparents, and who have never quite gotten around to taking a close look at it or having it appraised. They have just put it all aside. It can be a good and very profitable idea to review what you have inherited, especially if you are lucky enough to have acquired items like coin collections or chests of jewelry. If you open them up, you might find one or two small items that are worth a lot of money.

Items Hidden in Older Homes

This is a long shot, I know. But I also know that when some renovations were being completed in the old house where I grew up, we found a collection of old books hidden behind a false wall by the basement stairs. They were not worth much of anything. But if you have an old house, it could be a good idea to look around. In the old days, it seems that people liked to hide valuable things in houses.  That newer patch of cement in the basement floor could be hiding something. So could a floorboard in your bedroom. Remember, metal detectors can be used indoors as well as outdoors. If you have an old home, you could turn up something quite valuable.

Keys to Safety Deposit Boxes

If you have inherited the personal possessions of an older relative who has passed away, have you taken a close look at his or her keys? If any of them are stamped with the name of a bank, you could have the opportunity to discover things of value like gold jewelry that your relative wanted to protect in a safety deposit box.

A Note on Unclaimed Safety Deposit Boxes

If you search online for “unclaimed bank safety deposit box auctions” you will probably find them in your state. Don’t get your hopes up too high, however, that you will buy an unopened deposit box and discover piles of gold in it. The problem is that in virtually all cases, those boxes have been opened by the bank so that their contents could be turned over to the state agency that attempts to return unclaimed property to its owners. The items that go on sale at auction are those that could not be returned – and if they are worth a lot of money, they have already been “discovered” and will be selling for high prices.

Find Something? Call Specialty Metals Smelters and Refiners

Even small items that contain precious metals can be worth money – money that could come in very handy at the time of year when the holiday shopping season is about to begin. Why not contact Specialty Metals Smelters and Refiners at 800-426-2344 to learn more?

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Recent Rare Coin Discoveries Teach a Valuable Lesson to Us All

If you’ve ever cleaned out an old family home, you’ve probably had the experience of opening a dresser drawer and finding a large quantity of coins rolling around there – the pocket change that some relative of yours tossed there 20, 30, or even 40 years ago.

On first glance, those coins usually appear to be nothing more than regular pennies, nickels, dimes, and quarters. It’s tempting to give them a very quick once-over before spending them or depositing them in a bank.

Photo of silver coins that Specialty Metals can recycle and refine for your company.

But the fact is, appearances can be deceiving. Even if you come across a batch of coins that don’t look unusual, it is still worth taking them to a reputable coin dealer and having them examined. Even a coin that looks unremarkable could have collectable value. And there is also the chance that you have discovered one gold or silver coin that is really valuable – either for its rarity or its gold or silver content – that you could easily overlook.

Coins End Up in Unusual Places

Two very unusual stories about coins have made the news recently. Both illustrate that it can be a costly mistake to make a snap judgment about what you are looking at after you discover a collection of coins.

As these stories prove, batches of coins can contain some very surprising secrets.

  • Discovery oneAn ancient Roman coin was discovered in northern Russia. When a team of archaeologists was recently excavating and examining the contents of an eleventh-century mound in Novgorod, Russia, they found a fourth-century Roman coin buried there. They guess that a Russian pilgrim to the holy land had acquired the coin and brought it back with him – but there is no way to know exactly how that old coin traveled so far. Coins do that – they seem to have a magical life of their own.
  • Discovery twoTwenty-six Iron Age and Roman coins were found in a cave in Derbyshire, England. It is not too unusual to discover a batch of old coins. But one recent find in England is very odd because it co-mingled coins that come from very different civilizations. Some of the coins are Roman issues that were apparently hidden there before the Romans had even occupied Great Britain. How did they get there? The archaeologists who found them are puzzled.

What Rare Coin Discoveries Will You Make?

Again, let’s remember that unusually valuable coins can be hidden in older coin collections and odd lots. If you come across coins with valuable quantities of precious gold or silver, call us at 800-426-2344. We’re here to help solve the mystery of what your discoveries could be worth. More importantly, we are the precious metals refinery that can turn your discovery into cold, shiny cash.

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Scams to Avoid when Selling Precious Metals

When you hear the words “precious metals scam,” chances are that you think first about all the scams out there that victimize investors by selling them overvalued precious metals, precious metals “futures” that never reach expectations, or privately minted “collectible” coins that are wildly overpriced.

Image of "Cash for Gold" signholders for Specialty Metals blog post, Scams to Avoid when Selling Precious Metals, courtesy of Comedy Central and South Park.

Yes, all those scams are out there, waiting to profit from unsuspecting people who are all too willing to part with their dollars. But there is another kind of scam too, one that is just as dishonest . . .

Scams that fool sellers into selling their precious metals at prices that are ridiculously low

In most cases, these scams prey on individuals who don’t know the value of what they have, or who are in a hurry to get cash by selling items without investigating their value.

Scams to Avoid when Selling Precious Metal Items

  • Dishonest coin dealers and antique galleries can fail to disclose the collectible value of metal items. If you are selling an old gold coin, for example, they could offer to pay you for only what the gold in it is worth, not for its collectible value. Or if you bring in a silver candelabrum, they could weigh it and offer you only a few hundred dollars when it is really a valuable collectible that is worth tens of thousands of dollars.
  • Bait-and-switch precious metals recyclers can misrepresent the quantity of precious metal that is present in items that are made of alloys. Because it is hard for the average seller to know how much gold, platinum or other precious metal is really contained in a piece of jewelry or other items, it is all too easy for unscrupulous recyclers to dupe them.
  • Dishonest dealers can apply artificial time pressure to sell. They make up tales about why today is the best time to sell an item that contains precious metals – they say that gold prices are about to fall, that a foreign market is about to close, or make up other hard-sell tales. Their real aim is to get sellers to part with items before they have time to find out what they are really worth. The best strategy to fight them? When a dealer tells you to hurry up, that is the time you should slow down.

Deal with an Honest and Reputable Gold and Precious Metals Refiner

Specialty Metals has been the top choice in the US for secondary refining of Gold, Silver and Platinum Group Metals for more than 32 years, for companies in the industrial, electronic, jewelry and mining sectors. We’re accredited by the Better Business Bureau and rated by Dun & Bradstreet. We’re also members of the International Precious Metal Institute (IPMI).

If you want to sell your precious metals without being subjected to malarkey – or worse – we welcome your call at 800-426-2344.

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How to Get Top Dollar for Your Coin Collection

Did you just inherit a collection of rare coins? If so, congratulations. You could have a very valuable asset in your possession, especially if the collection includes real silver coins.

The problem is, you can run into a lot of pitfalls – not to mention dishonest people – when you try to determine what the collection is worth. Especially if your coins contain precious metal like silver or gold. Here are some guidelines to follow.

Photo of silver coins that Specialty Metals can recycle and refine for your company.

Don’t Go to a Coin Dealer and Accept His or Her Offer for Your Coins

If you do, you could accept a low-ball offer, or a dishonest one. Instead, have a qualified rare-coin appraiser look at your collection. You can find one through the American Society of Appraisers at 800-ASA-VALU or through the American Numismatic Society at 212-571-4470. The appraiser should not be a dealer – that’s a conflict of interest – and if he or she offers to buy your collection or several coins from it, you should consider that a “red flag” and seek advice elsewhere.

After Having Your Collection Appraised, Make Some Decisions

Once you have an expert, impartial opinion of what your collection is worth, you are in a position to make some smart choices.

  • If you have some coins that are especially valuable, i.e., $500, $1,000 or more, consider selling them through a well-respected auction gallery like Sotheby’s in New York, at 212-606-7000. When you speak with auction houses, ask about the prices they have gotten for similar coins that they have auctioned in the past.
  • If you have some less valuable coins that should command prices in the range of $20 to $100 or a little more, you can take them to a coin dealer and see whether he or she makes you an honest offer for them. You can also look for similar coins on eBay, review their selling prices, and sell your coins there.
  • If you have coins that are relatively low in value – most often, these are coins that have low collectible value but which still contain quantities of silver – consider sending them to a qualified silver refinery like Specialty Metals Smelters and Refiners so you can get paid for the silver that they contain. Call us at 800-426-2344 to learn more.

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