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Does Fed melt bronze for profit?
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<p>[QUOTE="Philly Dog, post: 289434, member: 7726"]but if you go to site all the rules are there</p><p>Even the the rules for damaged coins are there they tell you(banks) to send them back to the mint</p><p><b>Mutilated Coin Procedures</b></p><p>Coins that are chipped, fused, melted, distorted, or not machine-countable are considered mutilated. Only the United States Mint redeems mutilated coins at the value of their metal content. Mutilated coin should be forwarded via 'Registered Mail, Return Receipt Requested' to the address below with documentation of the circumstances:</p><p>Superintendent</p><p>United States Mint</p><p>P.O. Box 400</p><p>Philadelphia, PA 19105</p><p>(215) 408-0203 </p><p>Any badly soiled, dirty, defaced, disintegrated, limp, torn, or worn out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value is <b>not considered mutilated</b>. These notes should be exchanged through a depository institution and processed by the Federal Reserve Bank.[/QUOTE]</p><p><br /></p>
[QUOTE="Philly Dog, post: 289434, member: 7726"]but if you go to site all the rules are there Even the the rules for damaged coins are there they tell you(banks) to send them back to the mint [B]Mutilated Coin Procedures[/B] Coins that are chipped, fused, melted, distorted, or not machine-countable are considered mutilated. Only the United States Mint redeems mutilated coins at the value of their metal content. Mutilated coin should be forwarded via 'Registered Mail, Return Receipt Requested' to the address below with documentation of the circumstances: Superintendent United States Mint P.O. Box 400 Philadelphia, PA 19105 (215) 408-0203 Any badly soiled, dirty, defaced, disintegrated, limp, torn, or worn out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value is [B]not considered mutilated[/B]. These notes should be exchanged through a depository institution and processed by the Federal Reserve Bank.[/QUOTE]
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