Wow people are all such pansies, acting like drones crying about how he broke the law. He melted a penny... Stop acting like the kid from grade school pointing their fingers and running to the teacher.
Pennies from 1909-1982 are 95% Copper. Pennies from 1982-present are 97.5% Zinc. There was a mixed amount of Copper and Zinc pennies made in 1982 do to the transition, you need to weigh them to tell the difference, copper pennies are heavier.
If you wanna make money from melting pennies you need pre 1982 pennies because those are made of like 99% pure copper. The ones after that are only like 2% copper the rest zinc.
Fuck you. I could have write many arguments why your video is awful, why your scam is stupid and why you are such a idiot. But those two simple words resume all of this way better then i could write otherwise. ☆☆☆☆☆
@toadsEATbugs Its tin. the copper is just microscopic layer and tin only has 231C melting point and aluminium has 1322 melting point theres big diffrance!
LOL do you think he really cares about the law i'm sure their are alot more laws hes breaking just look at his house he needs to securely lock his door with a long steal pole to keep it budge shut and his blowtorch is actually for his drugs. haha lol
@TrueRoach LOL! That's harsh, mate... Funny, but harsh. ;-) I was just being silly when I made that comment. I'd do it, too. Only not in a crackhouse. LMBO!
@bottomlands actually all pennies before 1982 are made of about 95% copper and 5% tin, all after are made of about 97.5% zinc and a small 2.5% copper coat. From 1944 to 1948 the U.S. Mints took the copper shells they had used for WWII, Melted them down and used them for pennies which were composed of 100% copper for those years. rjgreat06 get your facts straight it's 5% tin and how does that make sense you tap the penny and the "zince runs out" the TIN is mixed all in around to the penny
@darkfox356 Pennies have NEVER been 5% tin, they haven't been 100% copper since before the Civil War, "shells" aren't made of copper, they're made of brass (copper/zinc alloy), which is what pre-1982 pennies are made of , and since he melted it on an aluminum can, it HAS TO BE a post-82 zinc penny since coppers melting point is 700 degrees higher than aluminum, so the only thing you got right was the composition of post-82 pennies, which obviously already knew. lol another retard.
@bottomlands look it up i did guess what they do have 5% tin. I collect pennies so go shove a molten penny up your *** don't call people a retard when your wrong!
@bottomlands 50 minus the 1 and 1/2 profit is 48 and 1/2. Or 50 cent loss on the butane plus the 1 cent for the penny is 51, minus the 2.5 cent profit is 48.5. Think before you speak.
if u used the tip of the flame would have worked quicker, you should know that since it looks like uve made some ghetto blasters in your room, i have too when the blunt wraps run dry lol
want to hear the saddest part. Zinc isn't worth shit and there's virtually no copper in pennies any more. You aren't melting a true copper penny with that torch lighter either.
Too bad you just melted a Zink penny worth nothing. Not even a cent in its weight. If it was pre 1982, it would be copper and theres no way you could melt that.
there is actually a bill (not being persued at this moment that would allow for the melting of pre1982 pennies. If it passes one day.....this would be legal. Besides, if you don't tell anyone and have a massive amount of pennies. You could get away with it.
I once melted a penny while holding it with a pliers, and the zinc inside melted, but the copper shell stayed in tact. I kept heating it, and it exploded! I assume I got it so hot that I boiled the zinc, which made it rapidly expand. I burned a small hole in my pants, but I was lucky not to get injured.
no, a green flame would only exist if the copper on the penny had copper ions present in the form of an oxide of chloride or sulfide... since none were present the flame doesn't turn green
no, only if you heat it to the point where the zinc "burns" into zinc oxide... that butane torch isn't really hot enough to do that, and the amount of zinc oxide would be so minute that it would not affect you
Your taking a loss of 50 cents since you didn't do shit with that penny. BTW, that looked too shiny to have been made before 1982 (assuming jedi is correct and that is the year they switched).
@quinnweller mybad i ment herion lighet wait? wtf? whatever you put on a spoon and melt it then put it in a needle thats what i ment .... whats that drug called?
i know what it means and they were trying to be funny and making fun of my friend. saying the jet lighter is for weed. now you no why i said stfu? and it has nothing to do with you so back off
Sorry to tell you but you are wasting your time melting pennies, the pennies minted these days are mostly zinc with a thin outer plating of copper. I think you would do better off with copper wires or rain gutters. The nature of the recycling game is volume, like stuff in the pounds and the ton so see come kind of profit.
Stupid dipshits like this are the assholes that burn down your apartment building and you lose everything in life, including your life because this piece of camel dung is a crackhead and decides to melt a penny while waiting for his "Hook up". Filthy crackhead.
It's called heat dispersion. The aluminum is lighter and thinner then the copper and the aluminum, therefore creates a heat sink effect. But this guy is still a crackhead.
The coin melted before the can because zinc melts at 419C and aluminium melts at 660C. Note that a penny made of copper would melt at 1084C. It it had been a copper penny the can would have melted first.
But why should it be illegal melting coins? The metal value is much less always, and the central bank produces as much as the market requires. The central bank makes profit, by the way through the coin production.
Besides, it is not illegal to hide ones coins either, haha
It is illegal because it induces inflation. Imagine if I took a billion dollars worth of pennies at face value, melted them down and then sold the copper for 2.5 billion dollars. I've effectively introduced 1.5 billion dollars into the economy, thus lowering the value of everyone else's money.
1. The central banlk does not produce coins creating losses. The material is always less valuable.
2. By selling copper, you don't introduce new money, it is there already. It is always the decision of central banks to release money through interest rates.
3. It would be an enormous effort to bring together all the coins, would cost enormously.
4. the coins are cheaper than copper, they are not of copper. in Germany they are even only coppered iron!
I agree with your first statement. It would be idiotic to produce coinage that held a face value of less than what it cost to produce. However, (and to rebut your 4th point) United States pennies minted before 1982 are made entirely of copper. Apparently at the time copper was cheap enough to warrant this.
As to your third, I agree. It would be quite an effort, and would probably prove worthless to gather $1 billion in pennies. I only used such large numbers to drive the point.
Wow people are all such pansies, acting like drones crying about how he broke the law. He melted a penny... Stop acting like the kid from grade school pointing their fingers and running to the teacher.
EthanJM 1 month ago
pennies from 1909-1982 are 95% copper anything after is zinc
sheldon176 3 months ago
@sheldon176 Wrong. Several pennies in that year range has considerably lower copper. One year is actually steel.
QuicksilverdotFX 2 months ago
@QuicksilverdotFX i know that the in 1943 they made steel pennies theoretically speaking you know for 1982 and before its copper mostly
sheldon176 2 months ago
melting a penny on an alluminum can?!?! wuuuuuut never heard of it
smokey23112 4 months ago
You expected the DRUG ENFORCEMENT AGENCY TO BUST IN??? Maybe the FBI or others, but the DEA
MrNenni 6 months ago
@MrNenni you've clearly missed the first comment, his room looks like a meth head lives there. That's why the DEA would come in..
laurence1305 5 months ago
Pennies from 1909-1982 are 95% Copper. Pennies from 1982-present are 97.5% Zinc. There was a mixed amount of Copper and Zinc pennies made in 1982 do to the transition, you need to weigh them to tell the difference, copper pennies are heavier.
adamjkel7 9 months ago
I think I saw zinc smoke.
GameSkate360 9 months ago
If you wanna make money from melting pennies you need pre 1982 pennies because those are made of like 99% pure copper. The ones after that are only like 2% copper the rest zinc.
early1991baby 11 months ago 2
I'm surprised the can didn't melt.
mattg889 11 months ago 2
try fucking focusing correctly. the camera thinks your focusing on the watch.
Aaronchi123 11 months ago
lol, retard
bottomlands 1 year ago
want is with bat in background
jamesepulveda 1 year ago
people who cares its a penny they are usless
bestgamer2112 1 year ago
OMG do you know you are going to have the TSA people going to your house now?
manny298 1 year ago
that looks so dangerous
electricrockr 1 year ago
breaking a law? defacing money
simbolicboston 1 year ago
i thing thats breaking a law? defacing money?
simbolicboston 1 year ago
@simbolicboston its not against the law. its only against the law if you try to spend it afterwords.=) what about those crank things at the zoo?
sucrey101 1 year ago
@sucrey101
up here in canada, they ask us to flatten american pennies, since it's illegal to deface our own money. I think its even worse in the US
Timmay123456789 1 year ago
this guy was bored.. Thats breaking a law i think?
simbolicboston 1 year ago
Fuck you. I could have write many arguments why your video is awful, why your scam is stupid and why you are such a idiot. But those two simple words resume all of this way better then i could write otherwise. ☆☆☆☆☆
newtubetubetube 1 year ago
lol it's not tin it's zinc and you just posted 4 comments saying it's tin, if it was tin inside it would be worth about 5 cents :P
btw aluminum melts at 660'C and it's a pretty thin layer, and when i tried this the zinc and aluminum melted at the same time
toadsEATbugs 1 year ago 3
You know he did not melt copper its tin that he was melting! you can melt tin by putting it in oven at 241 degrese
SuperJonirenicus 1 year ago
Someones not to good at math. your goin to 47 1/2 cents NOT 48 1/2 lol NOOB
MrLonelyStoner 1 year ago
how do u make a profit from melting pennes and if u do tyr melting alot at a time
yoyohoes 1 year ago
@yoyohoes the penny is worth 1 cent. the copper used to make that penny is worth more than 1 cent.
mrios328 1 year ago
@mrios328 wrong! Its not copper its tin.outside is microscopic layer of copper and on inside its tin!
SuperJonirenicus 1 year ago
@SuperJonirenicus its zinc!
drinkmoresoda 1 year ago
i have that lighter :')
andymoores1993 1 year ago
damn your place is dirty. you need to clean that shit up.
bofeesnuts 1 year ago
the aluminum would have likely melted first
toadsEATbugs 1 year ago
@toadsEATbugs zinc has a lower melting point than aluminum
Atriticuss 1 year ago
@Atriticuss Yes but the penny is coated in copper which melts at a much higher temp than aluminum
toadsEATbugs 1 year ago
@toadsEATbugs Its tin. the copper is just microscopic layer and tin only has 231C melting point and aluminium has 1322 melting point theres big diffrance!
SuperJonirenicus 1 year ago
@Atriticuss well duhh thats why people make brass
SuperJonirenicus 1 year ago
You realize its a federal crime to melt US currency to profit from it's metal content...right?
guns4good 1 year ago
@guns4good
LOL do you think he really cares about the law i'm sure their are alot more laws hes breaking just look at his house he needs to securely lock his door with a long steal pole to keep it budge shut and his blowtorch is actually for his drugs. haha lol
TrueRoach 1 year ago 5
@TrueRoach LOL! That's harsh, mate... Funny, but harsh. ;-) I was just being silly when I made that comment. I'd do it, too. Only not in a crackhouse. LMBO!
guns4good 1 year ago
crusty crackhouse O_O
chandlerbeckhoff 1 year ago
you're taking a loss of 47.5 cents rite?
MrKaddan 1 year ago
you could smoke some wicked bowls with that torch
5150gamer 1 year ago
the dangerous way is with a grenade launcher 10 m-80 and 2 sticks of dynimite
58spartan 1 year ago 4
Your a fucking mental case!
quickshooter100 1 year ago
This is a crack house.. lol
isaahJOEL 1 year ago
now lets see the melted coin in close up view. *picks up can*
*EEEEEEYYYYAAAAAAAOOOO!!!!!!*
RaynisticalAllstaR 1 year ago
so this is how you fix your crack?
lukevash 1 year ago
sweet security system on your door
Michiganftball42 1 year ago
when crackheads get bored. episode 1 "penny melting"
AUTiger727 1 year ago 2
crackhead
GOLDDEAGS 1 year ago
Is that your crack lighter?
snitchboy12 1 year ago 2
It isa crack house
marybob321 1 year ago
1,That penny is made of zinc, not copper. so it's not worth 2 and 1/2 cents.
2, 50 minus 2 and 1/2 doesn't equal 48 and 1/2.
3, Your room looks like a meth head lives there.
bottomlands 1 year ago 99
@bottomlands pennies made 1982 and back are 95%copper and other 5 zinc you burn the penny tap it and the zince runs out then all copper
rjgreat06 1 year ago
@bottomlands actually all pennies before 1982 are made of about 95% copper and 5% tin, all after are made of about 97.5% zinc and a small 2.5% copper coat. From 1944 to 1948 the U.S. Mints took the copper shells they had used for WWII, Melted them down and used them for pennies which were composed of 100% copper for those years. rjgreat06 get your facts straight it's 5% tin and how does that make sense you tap the penny and the "zince runs out" the TIN is mixed all in around to the penny
darkfox356 1 year ago
@darkfox356 Pennies have NEVER been 5% tin, they haven't been 100% copper since before the Civil War, "shells" aren't made of copper, they're made of brass (copper/zinc alloy), which is what pre-1982 pennies are made of , and since he melted it on an aluminum can, it HAS TO BE a post-82 zinc penny since coppers melting point is 700 degrees higher than aluminum, so the only thing you got right was the composition of post-82 pennies, which obviously already knew. lol another retard.
bottomlands 1 year ago
@bottomlands look it up i did guess what they do have 5% tin. I collect pennies so go shove a molten penny up your *** don't call people a retard when your wrong!
darkfox356 1 year ago
@darkfox356 According to usmint dot gov, I am right and you are still a retard. The fact that you collect pennies is only further proof.
bottomlands 1 year ago
@darkfox356 Wait a minute. most of the pennies from those years are made of steel. They needed the copper for munition manufacturing
SteveMcPilot 8 months ago
@SteveMcPilot only 1943 pennies were made of steel. Look it up
darkfox356 8 months ago
@darkfox356 except the few that was made from copper and worth a shitload of money
jtvhacks1977 3 months ago
@bottomlands pennies made before 1982 are made only out of copper.
redogy1 1 year ago
@redogy1 So you're saying you know more about the content of pre-82 pennies than the US mint? lol another fucking retard.
bottomlands 1 year ago
@redogy1 Pre-1982 pennies are 95% Copper and 5% Zinc...
thevideovlogger 10 months ago
@bottomlands LOL... very well said.
shasha1873 8 months ago
@bottomlands 50 minus the 1 and 1/2 profit is 48 and 1/2. Or 50 cent loss on the butane plus the 1 cent for the penny is 51, minus the 2.5 cent profit is 48.5. Think before you speak.
bobabc1234567890 6 months ago
u live in fuckin sqllow... and im a redneck
magicdevil97 1 year ago
Comment removed
LOLITSJACOB 1 year ago
@LOLITSJACOB he substracted the original worth of the peeny smartass
FloatingTube 1 year ago
If you want free gas to melt stuff, consider methane harvested from waste (excrement + organic materials).
Cstrife234 1 year ago
I would defiantly do this outside.
RingLord3 1 year ago
if u used the tip of the flame would have worked quicker, you should know that since it looks like uve made some ghetto blasters in your room, i have too when the blunt wraps run dry lol
Chaospaz 1 year ago
just use a fresnel lens and melt copper all day for free.
LiquidChem 1 year ago
Lrn2Math
JJMcLein 1 year ago
I kept waiting for the D.E.A. to kick in the door.
xXBallistic82Xx 1 year ago 45
@xXBallistic82Xx lol
Saltydog55252 3 months ago
want to hear the saddest part. Zinc isn't worth shit and there's virtually no copper in pennies any more. You aren't melting a true copper penny with that torch lighter either.
Chrisfragger 1 year ago
Thats soooooooooo ........not cool
Zachofey420 1 year ago
Too bad you just melted a Zink penny worth nothing. Not even a cent in its weight. If it was pre 1982, it would be copper and theres no way you could melt that.
rearwheelslider 1 year ago
LOL the description made me crack up
mlacey56 1 year ago
make n some good crack huh!!!
yuyupb 1 year ago
Apart from killing urself by starting aluminium fires, posting this vid on youtube wasn't a smart move...
6joshh6 1 year ago
You god damned penny melter why do you melt them damn idiot moron.
pennysarecute 1 year ago
Poor penny
pennysarecute 1 year ago 4
there is actually a bill (not being persued at this moment that would allow for the melting of pre1982 pennies. If it passes one day.....this would be legal. Besides, if you don't tell anyone and have a massive amount of pennies. You could get away with it.
DannyWilsonsLaundry 1 year ago
Try still some butane so you don't waste your own on melting pennies for profit =.=.
zobidobi 1 year ago
@zobidobi steal
zobidobi 1 year ago
Drunken Smaked Up Bum Get a Job.
And you need to clean your gaf you scum bag.
fatfortuna 1 year ago 2
Drunken Smaked Up Bum Get a Job.
And you need to clean your gaf you scum bag.
fatfortuna 1 year ago 2
you just broke the law there
you could go to jail
entoris476 1 year ago
Destroying American money is illegal you retard. Only the government can.
75SilentWarrior 1 year ago
he just broke the law time to report him
mrsheen72 1 year ago
lol that he did
MafiaWars23 1 year ago
Poor penny
pennysarecute 1 year ago 2
your house is a fucking dump
PsnKabar6 1 year ago 3
zinc isn't that profitable, pennies are made out of about 98% zinc and 2% copper.
GoldenMurderer 1 year ago
not for pennies made before 1982. They have a 95% copper content
huttonism 1 year ago
not old pennies
coteya 1 year ago
Need to use free material to burn (like grass/wood/old plastic/tires/grease...) and melt in mass to be efficient enough for profit.
timetraveler3797 1 year ago
I want to burn stuff
MysticalHedgehog 1 year ago
isnt 50 - 2.5 47.5 ? not 48.5 ? :)
DetoxRogue 1 year ago
lol
+ 1p for the raw materials, the penny, you donut lol
lukkbox 1 year ago
50 cents of butane + 1 cent initial value of penny - 2.5 cents gained from selling zinc = 48.5 cents of loss
nimnot18 1 year ago 3
I once melted a penny while holding it with a pliers, and the zinc inside melted, but the copper shell stayed in tact. I kept heating it, and it exploded! I assume I got it so hot that I boiled the zinc, which made it rapidly expand. I burned a small hole in my pants, but I was lucky not to get injured.
libtechsk8er 1 year ago
this was dumb... you need to zoom in more! not really...
onaitsabes21 2 years ago
See that watch at the background? MELT IT!!!! XD!
Legendation 2 years ago 3
thats a hoax. the flame would actually turn green from the copper casing
redtailedpython 2 years ago
no, a green flame would only exist if the copper on the penny had copper ions present in the form of an oxide of chloride or sulfide... since none were present the flame doesn't turn green
Ma77hew 2 years ago 4
A lot of pennies aren't really copper anyways.
theflash555 2 years ago 3
clean your room !
ToiletAssassin 2 years ago 2
Aren't the fumes from ZINC TOXIC ???
definca 2 years ago
no, only if you heat it to the point where the zinc "burns" into zinc oxide... that butane torch isn't really hot enough to do that, and the amount of zinc oxide would be so minute that it would not affect you
Ma77hew 2 years ago
Your taking a loss of 50 cents since you didn't do shit with that penny. BTW, that looked too shiny to have been made before 1982 (assuming jedi is correct and that is the year they switched).
chrissypoo90 2 years ago
How the fuck you gonna melt copper in an ally can?
wheelnutt 2 years ago
Pennys made after 1982 are zinc with copper plating.
jedi1357 2 years ago 2
clean up your room!!!
hiyutoday 2 years ago 4
LOL crack pipe lighter...............
bambam4LSU 2 years ago 2
maybe if you melt enough pennies you could buy a fucking hoover and carpet shampoo you live in squaller
MKUltraProject 2 years ago
47 1/2 cent loss, not 48 1/2
ha (:
Chapstick050 2 years ago
is it a triple flame torch?
MrPyroninja 2 years ago
it is still legal tender
cjellwood 2 years ago 3
cool
goldwell11111 2 years ago
the background looks like a crackhouse.
aasdfasfdasfd 2 years ago 130
@aasdfasfdasfd that explains the can and torch lighter
spikehosinski 1 year ago
@aasdfasfdasfd that is a crack lighter too
chachas21 1 year ago
@chachas21 It's a jet lighter.Using it for crack will melt the pipe.
quinnweller 1 year ago
@quinnweller mybad i ment herion lighet wait? wtf? whatever you put on a spoon and melt it then put it in a needle thats what i ment .... whats that drug called?
chachas21 1 year ago
@chachas21 Heroin i think.
quinnweller 1 year ago
@aasdfasfdasfd in deed in the getto
mindharvester 1 year ago
@aasdfasfdasfd lmao
EtownMurderJunkie 1 year ago
The only way to "profit" from melting pennies, is to melt all copper pennies which are minted prior to 1982!!
cresidue 2 years ago
i'll bet you smoke a lot of weed don't you
mitchellberry 2 years ago 4
FOCUS.
pshinspections 2 years ago
I suggest you figure out a way to melt garbage instead.
mpwelk 2 years ago 58
@mpwelk BURN!!! XD
pheniox547 1 year ago
Get a penny post or pre 1983 those are 100% copper. Plus I took some tin with the 78' penny and it turned to brass!!
ZaoHuZhua 2 years ago
after or before 1983? Lol.
dakkenly 2 years ago
1983 or before. Tehe.
ZaoHuZhua 2 years ago
i wonder y u have a jet lighter
o wait i know
phsycomusicpower 2 years ago
lol you think your funny. stfu
summersender 2 years ago
screw u dumb ass
phsycomusicpower 2 years ago
yeah fuck you do bung hole
summersender 2 years ago
u do know what STFU means right......?well its not a good thing to say
minyguy 2 years ago
i know what it means and they were trying to be funny and making fun of my friend. saying the jet lighter is for weed. now you no why i said stfu? and it has nothing to do with you so back off
summersender 2 years ago
What salvia? lol
17aKaT 2 years ago
y is your house so dirty n messy?
noelnoelz 2 years ago 10
cuz his can be. its his room. like your room isnt stfu.
summersender 2 years ago
haha
PyroFreakDJ 2 years ago
Sorry to tell you but you are wasting your time melting pennies, the pennies minted these days are mostly zinc with a thin outer plating of copper. I think you would do better off with copper wires or rain gutters. The nature of the recycling game is volume, like stuff in the pounds and the ton so see come kind of profit.
gli96187 2 years ago
Why does the can not melt?
YamiPoyo 2 years ago 3
The jet lighter can probably melt a penny at the temp it goes, and alluminum has a higher melting temp
stfuboy 2 years ago
What a fine joke if he only had a decent burner and a real copper coin, so the coin would have fallen through the can leaving a whole mess.
But maybe he had heard that American pennies seem to be made of tin alloys. So maybe one succeeds to chew some pennies together! ;-)
silverbud 2 years ago
98% zinc then copper coated
stfuboy 2 years ago
Actually I believe they are primarily zinc.
SuperSexySamba 2 years ago
just remember melting and selling copper pennies or any coin of united states currency is illegal and will result in considerable jail time and fines
firedude201234 2 years ago
So melt some pesos instead!
SuperSexySamba 2 years ago
Destroying anything currency wise but a penny is illegal.
dakkenly 2 years ago
oh year, he will get lifelong
GolemShadowsun 2 years ago
*47 1/2 cents
dantesblackrose13 2 years ago
No, 48.5. Don't forget the penny.
devilsinthedetails 2 years ago
Ah, tha'ts right, my bad =]
dantesblackrose13 2 years ago
you melted it into a dime
scorpionboxer 2 years ago
the pocket torch lighter
death37654 2 years ago
crack heads
12gravediggers 2 years ago
Stupid dipshits like this are the assholes that burn down your apartment building and you lose everything in life, including your life because this piece of camel dung is a crackhead and decides to melt a penny while waiting for his "Hook up". Filthy crackhead.
TheSecretSword 2 years ago
Crackhead.
TheSecretSword 2 years ago
how do you make a profit from that
ProffesorChaosesFile 2 years ago
Looks like a crack head enviorment. I mean heroin. Where is your spoon and needle junkie,
bdog197681 2 years ago
The quick and dangerous way is the only way to do things.
TriasTheBetrayer 2 years ago
how on earth did you melt the coin before the can?
mashersmasher 2 years ago
It's called heat dispersion. The aluminum is lighter and thinner then the copper and the aluminum, therefore creates a heat sink effect. But this guy is still a crackhead.
TheSecretSword 2 years ago
The coin melted before the can because zinc melts at 419C and aluminium melts at 660C. Note that a penny made of copper would melt at 1084C. It it had been a copper penny the can would have melted first.
regould22 2 years ago
actually, a cent minted before 1983 comprised of 95% copper and 5% zinc melts at exactly 1,981 degrees F.
brierejoe 2 years ago
shit i thought u were melting that on a axe can.
bryanj2u 2 years ago
But why should it be illegal melting coins? The metal value is much less always, and the central bank produces as much as the market requires. The central bank makes profit, by the way through the coin production.
Besides, it is not illegal to hide ones coins either, haha
silverbud 2 years ago
It is illegal because it induces inflation. Imagine if I took a billion dollars worth of pennies at face value, melted them down and then sold the copper for 2.5 billion dollars. I've effectively introduced 1.5 billion dollars into the economy, thus lowering the value of everyone else's money.
IsmokeParliaments 2 years ago
There are a few mistakes in your reasoning.
1. The central banlk does not produce coins creating losses. The material is always less valuable.
2. By selling copper, you don't introduce new money, it is there already. It is always the decision of central banks to release money through interest rates.
3. It would be an enormous effort to bring together all the coins, would cost enormously.
4. the coins are cheaper than copper, they are not of copper. in Germany they are even only coppered iron!
silverbud 2 years ago
I agree with your first statement. It would be idiotic to produce coinage that held a face value of less than what it cost to produce. However, (and to rebut your 4th point) United States pennies minted before 1982 are made entirely of copper. Apparently at the time copper was cheap enough to warrant this.
As to your third, I agree. It would be quite an effort, and would probably prove worthless to gather $1 billion in pennies. I only used such large numbers to drive the point.
IsmokeParliaments 2 years ago
Depends on the year. Pre 81/82 are copper.
devilsinthedetails 2 years ago 2
lol right, and if you do what obama does and ads 3 trillion dollars....
cfalien 2 years ago 2
Screw that, govt spending causes inflation. It's the govts fault for spending 2.5 to make 1.