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<p>[QUOTE="Firedideguy, post: 4802799, member: 31228"]<font size="4">Borrowed from Wikipedia (Did they get it right?)</font></p><p><br /></p><p><font size="5"><b>Laws regarding melting and export[<a href="https://en.wikipedia.org/w/index.php?title=Penny_debate_in_the_United_States&action=edit&section=8" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/w/index.php?title=Penny_debate_in_the_United_States&action=edit&section=8" rel="nofollow">edit</a>]</b></font></p><p>On April 17, 2007, a <a href="https://en.wikipedia.org/wiki/United_States_Department_of_the_Treasury" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/United_States_Department_of_the_Treasury" rel="nofollow">Department of the Treasury</a> regulation went into effect prohibiting the treatment, melting, or mass export of pennies and <a href="https://en.wikipedia.org/wiki/Nickel_(United_States_coin)" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Nickel_(United_States_coin)" rel="nofollow">nickels</a>. <span style="color: #ff0000">Exceptions were allowed for </span><a href="https://en.wikipedia.org/wiki/Numismatists" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Numismatists" rel="nofollow"><span style="color: #ff0000">numismatists</span></a>, jewelry makers, and normal tourism demands.<a href="https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-42" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-42" rel="nofollow">[42]</a> The reason given was that the price of copper was rising to the point where these coins could be melted for their metal content.<a href="https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-43" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-43" rel="nofollow">[43]</a> In 1969, a similar law regarding silver coinage was repealed. Because their silver content frequently exceeds collector value, silver coins are often sold by multiplying their "face value" times a benchmark price that floats relative to the spot silver price per ounce.<a href="https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-44" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-44" rel="nofollow">[44]</a> According to American law, US citizens are allowed to melt foreign coinage (e.g., Canadian pennies) for personal or commercial use.<a href="https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-45" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-45" rel="nofollow">[45]</a></p><p><br /></p><p>Does this mean, if you consider yourself to be a numismatist, you can melt the 1¢ coin?[/QUOTE]</p><p><br /></p>
[QUOTE="Firedideguy, post: 4802799, member: 31228"][SIZE=4]Borrowed from Wikipedia (Did they get it right?)[/SIZE] [SIZE=4][/SIZE] [SIZE=5][B]Laws regarding melting and export[[URL='https://en.wikipedia.org/w/index.php?title=Penny_debate_in_the_United_States&action=edit§ion=8']edit[/URL]][/B][/SIZE] On April 17, 2007, a [URL='https://en.wikipedia.org/wiki/United_States_Department_of_the_Treasury']Department of the Treasury[/URL] regulation went into effect prohibiting the treatment, melting, or mass export of pennies and [URL='https://en.wikipedia.org/wiki/Nickel_(United_States_coin)']nickels[/URL]. [COLOR=#ff0000]Exceptions were allowed for [/COLOR][URL='https://en.wikipedia.org/wiki/Numismatists'][COLOR=#ff0000]numismatists[/COLOR][/URL], jewelry makers, and normal tourism demands.[URL='https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-42'][42][/URL] The reason given was that the price of copper was rising to the point where these coins could be melted for their metal content.[URL='https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-43'][43][/URL] In 1969, a similar law regarding silver coinage was repealed. Because their silver content frequently exceeds collector value, silver coins are often sold by multiplying their "face value" times a benchmark price that floats relative to the spot silver price per ounce.[URL='https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-44'][44][/URL] According to American law, US citizens are allowed to melt foreign coinage (e.g., Canadian pennies) for personal or commercial use.[URL='https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States#cite_note-45'][45][/URL] Does this mean, if you consider yourself to be a numismatist, you can melt the 1¢ coin?[/QUOTE]
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