The|Coinologist.

Always Buying Coins, Currency, and Cool Stuff.

Melting Money

with one comment

Many of us think of melting gold and silver down and having a safe full of precious metal bars, don’t you?  Here is something we don’t always think about as much, most likely due to the scale of the project.  Melting down Nickels and Pennies.  Keep in mind copper and nickel are holding their own in the metal market.  Well the U.S. Mint has something to say about this:  “The United States Mint today announced a final rule to limit the exportation, melting, or treatment of one-cent (penny) and 5-cent (nickel) United States coins, to safeguard against a potential shortage of these coins in circulation.”  So not only melting the coins is illegal, but these marketing companies can’t paint them up,  put them in plastic, and overcharge for them either.  I like this rule, and glad the Mint stepped in and did something.  Check out the Mint press release for more details:  United States Mint Limits Exportation & Melting of Coins.  Here is the Federal Register Notice.

Written by Robert L. Wilson

November 29, 2010 at 8:08 am

Posted in Coins, U.S. Mint

Tagged with , , ,

One Response

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  1. The funny thing is pennies stopped having copper in 1982.

    Jessica

    December 1, 2010 at 2:13 pm


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