Normally when I buy old collectable coins and some of them are either rubbed or badly scratched I do not offer them for sale
but accumulate them and scrap them for their precious metal value.
When I took coins to be scrapped today I was told it is illegal to melt coins and that they are the property of the Reserve bank
This apparently applies to old South African Shillings,gold coins etc.
How true is this? Apart from that if a silver R1 is presented to the Reserve bank they will pay the face value of R1