IS IT A CRIME TO MELT DOWN PENNIES FOR COPPER OR PRE 1965 COINS FOR SILVER CONTENT???

[cokeyNbk]

If a nickel is heavier then a penny, then the 75% of that weight would be more then the 95% of a small penny.

[chevy1971camaro]

ur a dumbass

[mirage2887]

Anyone saying its illegal to deface or destroy pennies. Ummm what about when you go to a theme park or some tourist attraction an they have those penny smashing machines that put an image on you penny????? Why would Disneyland land let me do that?

[phirobins]

go on this website coininflation com and you will know the melt value for every us coin ever made and etc.

[Stillwater900]

How about you just melt them somewhere where there aren't any police officers to catch you? Like in your own home perhaps?? Duh.

[saint4God]

"The U.S. Mint decided to make U.S. coin melting illegal.

I'm obviously not surprised. Particularly looking at the web server logs to my website coinflation, there's been a lot of ".gov" computers visiting recently (I'm watching you big brother). I've seen this log activity before, but I figured it was idle government workers looking up silver coin values. At least I thought that until looking at the server activity the last two weeks"

[ScrapGoldBusiness]

@saint4God

IS THIS Collectors Universe Inc.?

GREG

[Murray13j]

I was told that it is not, because penny's are not legal tender but nickels and above are legal tender.

[demac777]

Why the hell melt them? They're already in small convenient carry sizes and their inherent value is in the copper content, not the face value. Are solis copper ingots gonna take up that much less space than a bag full of pennies? To hell with the government! The money that I earn belongs to me and if If I want to stick it all under my matress, that's my choice. We're practically back to the point we were in colonial times with taxation without representation.

[ScrapGoldBusiness]

@demac777

I SAY THANKS FOR THE INTELLIGENT COMMENT:)

[tdubb505]

if someone has a small home smelter how is anyone to know that ur melting pennies unless u run ur mouth and advertise it i never heard of anyone going to jail nor do i know anyone that has melted coins but like i said if u wanna melt pennies who will find out unless u tell anyone right!

[LapTopTech]

Please read this news letter from the US MINT:

ww.usmint.gov/pressroom/index.­cfm?action=press_release&ID=72­4

But.....what they don't tell you is, that the government wants those copper and silver coins BACK!! so THEY can melt them down to get the money out of them!!! NOT YOU AND ME!!!

T

[CannibalCarp]

I heard a minting official on a documentary (forget the name) is that money that you earned is your property and can do what you want with it. That is what I heard/saw on TV. I'm sure this will make a youtube lawyer chastize me with a nasty post but that is what I saw. Could be wrong who knows and actually I really do not care.

[metalmilitia1977]

There's more copper in a nickel than in a penny, present and pre-1983. Nickels are 25% nickel and 75% copper. 

[Stillwater900]

@metalmilitia1977 There is not more copper in nickels than pennies. Pre-1982 pennies are 95% copper. Since when is 75 more than 95?

[metalmilitia1977]

@Stillwater900 I was referring to Nickels now and then. You missed the conversation.

[QualityKills98]

It is not a crime, Unless you are doing it in an act to try to destroy or damage the government.

[SharonHarrah]

no it is a crime

[JohnBrown4057]

@ScrapGoldBuisness are you in arkansas? If are check out eldoark.com you can't get flagged on there

[scrappersheaven]

i believe it is illegal to deface any U.S. currency no exceptions

[packrat541]

Instead of melting the pennies it is wise to save them and nickels too because the metal has a real value and paper money has only a real value that is only equal to the paper in it (worthless) . some 1982 cents are copper and most are zink but a scale will show that the heavier ones are copper. Also some returned coins on change for money machines are silver (1964 and older).

[tennesseecoin]

First we do not have pennies in the US we have cents

Second the law is a temp. law and is on cents and nickels however all refineries are still melting war time 35% silver nickels even though it is in violation.

There are several coin dealers buying bags of 95% copper cents paying 65.00 per bag

[maxwellhumphrey19]

yes it is

[1425999]

the middle is zinc its just copper plated

[jdgabbard]

@1425999

Thats only on the newer stuff. 1982 and prior is made up of copper.

[TankEpidemic]

I know that it is most likely illegal to melt down pennies for a profit. I guess it's like stealing? im not so sure but it involves the government getting butt hurt.

[Kimisue12]

You can go to coinflation. com and get the current melt value of all US coins, (and some others). Also it is always updated to current spot of all metals. Check it out ...great site. I use it all the time.

[Habeev07]

i havent thought about that. you cannot destroy legal tender right. so does this mean you also cant melt 90% coinage into bars. Is 90% US coinage conisdered the safest silver form to invest? Thanks man.

[ScrapGoldBusiness]

@Habeev07

NO PREMIUMS ON 90%.

I LOVE 90%...:)

[dofair]

Pennies can't be melted its illegal Yet you can melt silver. only pennies under the 1982 are 90% copper and worth double the face value. $1.00 in pennies is worth $2.50 in copper

[olebrent]

Section 331 of Title 18 of the United States code provides criminal penalties for anyone who fraudulently alters, defaces, mutilates impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the Mints of the United States.

[senseblogger]

it is illegal to melt us cuurency ! BUT who's going to know ? Long as YOU keep your trap shut ! MUST be pre 1982 which are 95% copper ! $1.50 worth of pennies = 1 lb so YOU need 2500 degree heat to melt copper in a l special container I'm assuming a torch of sometype that maybe done using electricity NOT fuel ! SO at $4 a lb for Copper or $3.50 YOU gain $2 a lb thats damn good over 100 % profit !

[UnReAlLoBbYz]

2 cents

[wendy2212]

How much does it cost in energy to melt down pennies? It's probably still not worth it to melt it down unless you're getting free heat.

[CreepinSav]

@wendy2212 A simple camp fire can easily melt the pennies, that is free heat, you just need logs and a fire.

[wendy2212]

@CreepinSav that's not free silly, the heat could be used for other things instead. I could easily say just start a fire with oil I found in the ground then its free

[CreepinSav]

@wendy2212 whatever floats your boat

[hotheadedjoelhaha]

I know this is a bit off subject BUT, you are only Allowed to take $5 worth of Copper Pennies out of this country(same with shipping them out)! The Govt. fears people will ship them out to be melted for their Copper Value. A copper penny is worth almost $0.03 cents. So, 1 cent now being worth 3 cents(metal value) it's not a bad idea to start collecting Copper pennies. My thought- are Pennies that are in MY possesion not really mine? I shall do what I wish with them. Hmmm?

[justmekkb]

Coinflation has a great U.S. Coin Metal Value Calculator

[angrysantacat]

$0.028542751918739 for pre-1982 pennies

[skylinedrake]

so i cant melt down silver coins there 1986

[Raycheetah]

Coinflation (dot com) gives up-to-date metal value for US and Canadian coins. US one cent coins pre-1982 and five cent coins are worth well over face value. I advocate keeping them in their coin form, not only to avoid legal issues, but because it makes them easily identifiable as 90% Silver/95% Copper. =^[.]^=

[djoctopus70]

your ads were probably getting flagged if there weren't in the wanted to buy section , I know around here if you post a buy silver/gold add under jewelry it will get flagged

[FilteredInc]

I have used Craigslist to sell some silver. I sold some Chinese Silver months ago. I have listed Copper pennies by the pound also but have not had any bites.

[ytgv3fc7]

if you don't melt a copper coin but do sell it for copper value, like not melting a silver dime but selling it for silver value, that's not illegal. If you don't claim them then the mint refineries legally can melt their own currency and will do so for the high value metals in copper or silver coins.

[ifinglovevr]

Check out Pre1965 coins on ebay!

They sell for over spot! 

[endlessmountain]

Current USA pennies melt are worth over 50% of mint with huge upside potential.

I think silver is legal (not sure) and others are not legal (fairly sure) and the odds that tyranny will end and this will become legal in the near future i place as probable.

[Edgarasmith]

1983 and earlier pennies are 100% copper and worth approximately $.03 cents. A nickel today is worth $075 cents. According to my banker it is illegal! They had a customer who would come in several times a week and pick-up $100 in pennies. The customer would then bring the pennies back in and run them through their lobby coin counter. I've been told approximately 30% of pennies are still copper. Anyway, this gentlemen is no longer available-according to the banker. Vacation courtesy of Govt!

[FilteredInc]

@Edgarasmith I have sorted tens of thousands of pennies in the last year. I have kept record of the ratio of copper and wheat pennies to regular worthless ones. I will make a YouTube video with records of my ratios found one of these days.

[frankiegmh]

@Edgarasmith Its actually 1981 and earlier, Some 1982 pennies are as well but not all. At some point in 1982 they stopped making the pennies out of copper.

[tekmnd]

Hi Greg

Here in San Diego, there are lots of buyers on craigslist. A few sellers, but the sellers are asking more than the local coin shops charge.

Cheers Tek

[knutsenglenn]

@bryanncampbellca i believe you are right.

[bryanncampbellca]

Canada has a similar law. The loophole I see is it's only illegal to melt Canadian coins. I'm sure it's perfectly legal to melt American coins here. And it might be legal to melt Canadian coins there. ;)

[BlackReaper357]

@bryanncampbellca: Yes, I do believe it does say "American Coins" in the law.

[motormaker]

Why melt the pennies when you can just hoard or sell the copper ones on ebay? Same benifit, Something for nothing and no laws broken. It is a great feeling to take on of those little copper cents out of circulation so the criminal banking cartels (JP Morgan ,Goldman Sachs, HSBC,CITI,FED ) Cant get their filthy claws on it. Let them have their zinc . I will take the real thing. Copper is the poor mans silver. And one day ,just like silver, copper will be legal to melt.

[gwh21375]

About 2.7 cents of metal in pre '83 pennies.

[hitadjp]

melt down canada pennies and dont worry

[FilteredInc]

1982 has some that are not 95% Copper. And does anyone have a good efficient method of melting down the pennies?

[hitadjp]

@FilteredInc type in DYI PROPANE FOUNDRY

[greggh]

Right now it is only illegal to melt pennies and nickels. And with the pennies I think the law only applies to pre 1983 pennies which are 95% copper and worth almost 3 cents in metal.

[safeinsuburbia]

Is it legal to melt silver eagles?

[garywilsonisp]

@safeinsuburbia No, but why would anyone want to melt silver eagles that are already assayed to be 1 ounce of 99.999% pure silver?

[safeinsuburbia]

@garywilsonisp I'm hearing there may be a silver shortage. In this case, I imagine coins would be converted to industrial use.

Isnt' there a law stating that currency can't be melted? Isn't a silver eagle a one dollar coin? Am I missing something here?

[Sendarian1]

a new penny is worth 0.0060952 cents LOL

[greggh]

"Can somebody tell me what a penny is worth today in actual metal content?"

Sure. All pennies from 1983 to today are worth in metal content exactly 0.61 cents. They are made up of 97.5% zinc and 2.5% copper. You can find more information about the actual value of our coinage on the coinflation website.

[BlackReaper357]

@greggh: Scrap metal prices on average right now are about $0.86 per pound. If you know the weight of the penny you can figure it out from there. The answer is very, very little.

[garywilsonisp]

Google 'us mint penny nickel melting ban' for the link to the US Mint press release banning exporting nickels or pennies. However, It's not illegal to hoard them. Pre '64 90% silver and 40% silver coins has no ban on melting.

[FXNorm]

The refiners melt silver coins down all the time..so obviously its not illegal. NTR will not jeopardize their business by breaking the law...no way, not gonna happen..they dont need it.

[ILovelisanova]

APMEX will buy 90%

[charronfamilyconnect]

No, I dont use Craigslist but I would consider gregslist. HeHe!!

[GreatDepressionTwo]

I believe a penny is worth 2 cents in copper. content.

[artdeco101010]

Okay for melting silver coins now, still illegal for pennies.

[TheSilverMeister]

usmint.gov/pressroom/index.cfm­?action=press_release&ID=724

[GreatDepressionTwo]

I believe it is legal to horde ;melt; or deface pre1964 Silver coins. But not pennies.

[thekid5254]

My bank know a guy who melts silver coins for silver and they dont care, so who is going to turn you in?

[GreatDepressionTwo]

Not only is it a crime to destroy; deface or melt a penny ;it is also a crime to hoard pennies; the law was inacted in late 7o's during the first metals bubble.Not many people know that.