I know it's illegal, but...

...what's keeping a guy from melting copper pennies himself and selling them to a scrap yard?

 

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:yes:

 

Probably the fact that if you're caught the penalty includes fines up to $10,000 and 5 years in prison, plus forfeiture of the melted material...

 

US Code Section 5111

(d)(1) The Secretary may prohibit or limit the exportation, melting, or treatment ofUnited States coins when the Secretary decides the prohibition or limitation is necessary to protect the coinage of the United States.
(2) A person knowingly violating an order or license issued or regulation prescribed under paragraph (1) of this subsection, shall be fined not more than $10,000, imprisoned not more than 5 years, or both.
(3) Coins exported, melted, or treated in violation of an order or license issued or regulation prescribed, and metal resulting from the melting or treatment, shall be forfeited to the United States Government. The powers of the Secretary and the remedies available to enforce forfeitures are those provided in part II of subchapter C of chapter 75 of the Internal Revenue Code of 1954 \1\ (26 U.S.C. 7321 et seq.).

Doesnt sound like fun for a couple xtra bucks

 

Who can prove it? Are there isotopes planted into cents proving they were in coinage? If someone were paranoid about it, why not throw in a few pounds of copper from other sources to throw the content off?

I just think this stupid rule is in place to scare refiners away from massively melting, and giving the mint time to come up with a substitute plan, (or for Congress to get off their rears about it). I am thinking sometime after the election after the politicians aren't so afraid of getting voted out over pennies they wll do something. I am afraid they will see, however, that our mint has such high expenses they may never again make a profit unless they start making one and two dollar coins, while removing the same bills from circulation. The mint simply has too high of overhead to break even unless it has a lot of coins with high seignorage to produce.

 

Big brother is always watching. Now, thanks to your post, your copper pennies are now being monitored by the US government through your cell phone and other small appliances in your house.

 

If you are simply melting them,they can prove it by the metal content,wich is specific to the coins. If you refine it however,it would be impossible to prove.

 

I am suspicious of my toaster!

 

True, but keep the cent and raise the premium on gold and silver bullion 10% more. :devil:

 

And well you should be! But the real problem are the cable and dish boxes. They are usually connected with a telephone link and have built in encryption. Better go to Costco and get more aluminum foil!!

 

Me too. Yesterday it talked back to me.........

 

I think if you melt them, let them harden back up in some unrecognizable heap, throw them in with your stripped wire and copper pipes, you would have no problem scrapping them at a scrap yard.

 

Took care of that this morning Jim......

 

sounds like a lot of fun

 

If your cell phone and appliances are more than seven years old,
you don't have to worry about being monitored by them. The
technology to monitor like this only became available in 2005.

 

And be on the lookout for some underhanded government presence here on the forum. James Wolfe may look harmless, but behind that class clown facade lies the face of the CIA, FBI, ATF, AARP and the NAACP. See, you're caught and you didn't even know it!

 

how did you know,i work at the mint :devil:

 

Brother, that's a long way from Florida to the Philly mint. I'm betting you use one of the govt. choppers to get to work every day!

 

Someone working undercover on this forum to catch illegal copper melters? Now that would be silly! Who would do that? Certainly no one here, especially me. No way. You guys are ridiculous.


I'm watching you

 

Mine is more stylish. My cat is in on it too.