Is it illegal to melt or deface Canadian coins?

Yes, under the Currency Act of Canada, it is illegal to melt down, deface, or destroy Canadian legal tender coins with fraudulent intent. While you can legally own Canadian silver coins or sell valuable Canadian coins for their melt value, modifying them for fraudulent purposes such as altering their value or using them in illegal trades is prohibited. However, collectors often purchase coins for their metal content, and dealers may assess the melt value of Canadian silver coins when determining pricing. At CanAm Bullion, we emphasize the importance of respecting currency regulations while providing access to authentic Canadian coins and bullion products like Gold Bars and Silver Bullion. If you’re interested in investing in precious metals legally and securely, we’re here to guide you through every step.