Anyone tried melting down a coin?

[RoughDog]

Wondering if anyone has tried melting down a damaged, scratch or polished coin?

Has anyone tried selling a badly damaged coin to a dealer?

 

[Serendipity]

It depends on whether you are referring to a damaged bullion or numismatic coin. The intrinsic value of a gold bullion coin remains the same no matter what form it takes. However, when you invest in a rare gold coin, your investment also has a numismatic value, which can be many times the value of the precious metal content of that coin. A damaged, scratched or polished numismatic coin would be worth considerably less than one in pristine condition.

Yes, I have sold a damaged bullion sovereign to a dealer who gave me the same price as for any other bullion sovereign. The bullion sovereign had a bad gash on the obverse which looked like the Queen had grown a beard. The dealer wasn’t too bothered by that because bullion coins are generally bought and sold for their precious metal content. In fact, dealers who double as refineries often buy badly damaged coins in order to melt them down.