Selling Copper/Silver? Huh?

Discussion in 'Coin Chat' started by RIchard Abanes, Feb 10, 2021.

  1. TonkawaBill

    TonkawaBill Well-Known Member

    I buy copper pennies with intent to turn into bars. I pay usual prices per 10# bag as you can find on ebay.
     
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  3. Kentucky

    Kentucky Supporter! Supporter

    Is this legal now?
     
  4. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    You do the process yourself? How much equipment is needed? Meaning how much do you spend to make bars? Is it worth the effort?
     
  5. john65999

    john65999 Well-Known Member

    i wonder if it is legal to melt us copper coins in canada, and also their copper & nickel coins down here?? would that not skirt the stupid law??? they allow us silver and gold coins to be melted, why not copper?? makes no cents...
     
  6. Heavymetal

    Heavymetal Well-Known Member

    Melting foreign coins isn’t illegal but might not be worth the effort as they trade by the weight as is.
    When US cents are allowed to be melted, eventually, they are likely to be feed stock for plumbing etc. Just add zinc
     
  7. -jeffB

    -jeffB Greshams LEO Supporter

    I seem to remember that the law also specifically prohibits export with the intention of melting. So you'd have to mean to ship them to somebody who wasn't going to melt them...?
     
  8. john65999

    john65999 Well-Known Member

  9. John Burgess

    John Burgess Well-Known Member

    far as I know it's been "unlawful" to melt copper cents or nickels since 2007. and illegal to export them also since then.

    You can melt and export silver and gold u.s. coins if you like though. it was "unlawful" to melt silver coins in the late 60s for a couple years... '67-'69.... I think.

    Anyways, pretty sure the cent and nickel thing is due to the costs involved with minting new ones for circulation if people are removing them to melt and export.
    travelers may take up to $5 in pennies and nickels out of the country, and individuals may ship up to $100 in these coins out of the country.

    and I though people caught faced up to a $10,000 fine, or imprisonment of up to five years, or both. it was an interim rule, not sure if it was suspending since 2007, or if it still applies. Just saying it was a thing.

    It is not illegal to melt, form, destroy, or otherwise modify US coins, including pennies, unless the objective is fraudulent or with the intent of selling the raw materials of the coins for profit at the cost of the taxpayers needing to pay for the replacement of it for commerce use.
     
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