For all the Copper Hoarders

http://news.yahoo.com/s/ap/20061214/ap_on_bi_ge/mint_coins


Read it and weep. Its illegal to melt Cents or Nickels for their metal content.

 

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:lol: you dont own your money

 

Old news, already discussed at length in a thread viewed hundreds.

 

It is annoying that threads get closed.

It's most annoying when you've already taken the time to compose a reply.

 

If your response was an expression of your opinion on the merits of the decision, that would be a wonderful post to use for starting a thread in the PRWE forum.

If it was a numismatic comment, just read the last three posts in the thread in context.

 

Hopefully this is considered a numismatic comment...

After thinking about this, if the mint feels the need to implement controls such as this it probably means that coins in general are undervalued if the stuff they are made of is worth more than the monetary value they represent; and a trend like this could continue for a fairly long time, or even accelerate. I would take this as a small signal that coin prices are more likely to rise than fall in the short to intermediate term future. So if there are coins you've had your eye on, it might be a good idea to buy them soon.

 

I was unaware that opinions on topics werent welcome, my bad.

 

opinions on topics are welcome---but there are times when Moderators have to decide if the comments are good for a Coin Forum or if they should be in the PRWE Forum.

Speedy

 

Well, I missed the closing of this thread! What did I miss! On the topic, this should all make Cloudsweeper99 very happy. He can have hard currency as long as he converts everything to Nickles!

Ruben

 

Ruben,

Actually, I prefer silver. Silver halves, silver dollars, silver eagles, even silver rounds. I have this 10 coin Bill of Rights silver round set that to me is as good as many regular mint-issued coins. Tokens also -- non-governmental money. Great coins, all of them. My interest in collecting was rekindled several years ago from some economic research I was doing. One thing led to another and there it is, for better or worse.

 

If this "rule" works as intended it should almost end discussions about eliminating or changing the metal content of the cent and nickel. The way I see it they are trying to stop the mass shipment (by the ton)of american coins to China for melting, while also discouraging the general population from hoarding.

 

Many coins get shipped all over for melting and China (as well as Japan) is a very common destination. Our nickels though will end up getting melted right here in Indiana, Michigan and North Carolina in the production of stainless steel. Huge amounts of copper is used in various alloys of stainless and this will make a convenient way to use them.

 

FWIW, I agree that as long as there's a financial incentive to do so, it will happen one way or another.

 

Please forgive me, but: What is the PRWE forum?
Private Responses Were Excluded?

 

Politics, Religion and World Events.

You can join that forum, if you so desire, by clicking on "User CP" at the top of the page, scrolling down the left side of the page to Miscellaneous links, and clicking on "Group Memberships". You will then have the option to join either or both PRWE and the General Discussion forums. The title explains what may be discussed in PRWE, and GD allows anything else your heart desires, except porn.

 

Ok so they made it illegal. Big deal, people who want to melt them down will do it anyway. Back in the late 60's early 70's melting silver coins was illegal too. Didn't stop people from hoarding and melting them down anyway.

 

yeah.u gotta do what u gotta do.

 

As a member who has had a few threads closed that I was contributing to; I agree.
Is the closing of a thread the sole decision of one person only? Just curious.

 

Its not my forum, but rule one of any forum I've seen which is effectively managed is leave the moderators alone. There are no innocent questions about the moderaters decisions.

Just my 2 cents.