Is This Post Mint Damage or Die Errors?

I get a little confused when trying to figure out if the die his scooped out the coin in places or something else happened later. If mint damage is there any serious value here?

 

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That's just post-mint damage. It's not a Mint error.

 

PMD. Value = 1 cent. Melt value =2.82 cents. Before anyone says anything about melting being illegal, regardless there remains a melt value.

 

And they tax unrealized gains he's going to owe capital gains tax on the 1.82 cents, so it's a loser all around.

 

Absolutely Post Mint Damage.

 

I never understood why it's illegal to melt down pennies. I didn't think the government cared what you did with coins and paper currency so long as you weren't counterfeiting.

 

DEFDAM - Definitely Damaged

Circulation wear and tear.
Not a mint error of any kind.

 

If you try to take any amount of copper Cents to a metal scrap yard they would turn you away. They DO NOT purchase copper Cents!

 

If your plan is to scrap the copper cents for profit then it is illegal.

But, per the code in § 82.2 Exceptions, (b) ...

So if you wanted to take your copper pennies and, for novelty, create a big copper sword. Then you're all set. Of course, you'd have to add tin or something.

Of course, after the novelty wears off ... I'm not sure how the law would prevent you from then sending that copper sword to the scrappers.

This is also of course why making coinage in jewelry and selling it for a profit is not illegal.

 

…it’s known as, and prosecuted for “destruction of government property”, but the law was created to prevent profiting from government resources, among other things.

I understand using coins as jewelry, but not if it means destroying them.

Here’s a gray area: embedding coins in plastic/polycarbonite/epoxy. The coins aren’t really destroyed but they are irretrievable, for all intent and purpose.
…imo…Spark

 

"amusement and novelty" ... part of the exception

 

LOL here's a good nightmare scenario for all of us: The government all of a sudden decides all coins and paper money, no matter how old, belongs to the federal government and that all collectors turn in their collections or face fines and/or jail. I know this will never happen but, boy the thought is pretty cringe worthy! LOL

 

If it helps my LCS buys Wheat Ear Cents for $.03 each. Yours is PMD.

 

I would never do it unless copper went through the roof, but I don't think that will happen in our lifetimes if at all. Plus, I wouldn't have the heart to destroy a coin that's been around the block for 5 or 6 decades or more. I guess it's the history buff in me. Just can't destroy something old.