Copper Melting...

JBman101

Hey all...

With this recent copper craze, I was going through my old pennys and seperating out the pre 1982 ones from the lot (found around 20 rolls worth). However, while sorting, I was thinking about people saying they were bringing their pennys to scrap yards and having them melted down. I have always thought that destroying US money was illegal, so I am wondering how people can freely melt their pennys? Is this just done like under the table? or is it in fact legal to melt pennys?

Help is aprpeciated!

Thanks!

-JB-

JoesMaName

good point - people have been doing it to silver coins for years though...

Shamika

I may be wrong, but I believe it is legal to melt pennies. However, I think it may be illegal to melt other coinage.

xphobe

In a nutshell, NO IT IS NOT ILLEGAL to melt, drill, elongate, cut or otherwise mutilate pennies or any other US coin. However it IS apparently illegal to destroy a US bank note! Also, other countries may have their own laws which prohibit destroying their coins. There should be a permanent FAQ about this somewhere, because this question turns up like... uh... a bad penny


If you want the gory details, three parts of the United States Code (in Title 18, Part I, Chapter 17) are relevant:

18USC331 deals with coins. It is NOT illegal to deface or destroy coins UNLESS you have fraudulent intent. This section repeats the word "fraudulent" several times, so it is very clear. Do you intend to commit fraud by melting your pennies? If not, then it's LEGAL!

Remember the old story about the scammers who used to gold plate the old Liberty V nickels without "CENTS" and pass them as "new" $5 gold pieces? Or how people used to file precious metal off coins to make them lighter, save the extra metal, then pass the shaved coins? This was intended for people like that.

18USC332 deals with debasement (lowering the purity) of gold and silver coins, and stealing metal intended for coins - presumably this would have to be done before issue, by dishonest government employees or contractors. Doesn't apply to private citizens melting pennies.

18USC333 deals with mutilation of bank notes. This is the interesting one, as it doesn't mention fraudulent intent. It simply says you can't deface a bank note with the intention of rendering it unfit to be reissued! So tearing up a bill, or burning it, is a crime, apparently! Not that I've ever ... done that ...

Coindexter

By the time my copper cents reach the scrap yard they'll have no idea that they were ever cents. I'm making a simple brick and dirt foundry in the backyard that will melt copper with charcoal. That's right, charcoal. It's actually really simple. Check out this link.

Conder101

If you melt down your cents before you take them to the scrap yard, expect to be offered less, possibly considerably less for them. Consider what a dealer would offer you for your junk silver coins if you melt them down into a bar first. In thst unrecognizable fom they would have to be assayed first causing delay and additional expense. Likewise if you melt your cents the scrap dealer has no idea what the content really is. They can probaly recognize it as copper but what purity? So if they would even buy it they would have to greatly reduce he amout they would pay just in case they get it wrong. But if you bring it in as coins the composition is precisely known and can be paid at the proper rate.

LEAP269

has anyone done this yet?
what did you receive as a price paid?

calleocho

I havent done it ..but i ask around and the best was 2.10 a pound

jdimmick

Another reason not to melt them is that if you pull the copper cents from circulation, then you have no down side risk. If copper prices edge back, your not at a lost becuase you still have the cent. If melted, you only have unidentifiable from of copper. I have not pulled them yet myself, but I was mentioning the current situation to my kids, that if they start pulling them out now, they may benefit down the road??

jim

Barndog

The most recent issue of Numismatic News addresses the topic of melting cents and legality.