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 Replies: 21 / Views: 3,502 |
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Pillar of the Community
United States
561 Posts |
Quote:
Someday we will be able to melt these pennies, just like the 1964 silver coins we melt today. Just because people are melting silver coins doesn't mean it is legal. As a matter of fact, it isn't legal. |
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Pillar of the Community
1119 Posts |
been looking for some copper bars myself, but not that far from home.
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Pillar of the Community
United States
3294 Posts |
Hey Merc man, you have anything to back that statement up? I know pennies and nickels are not legal to melt, but as far as I know, silver coins are perfectly legal to melt (just please don't, I like them more as coins then as bars).
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Pillar of the Community
United States
2049 Posts |
Quote:
Just because people are melting silver coins doesn't mean it is legal. As a matter of fact, it isn't legal You seem pretty sure of this, however I am not sure I agree with your stance. Do you have something official backing up your claim? I have only seen a ban on pennies and nickels, nothing specific to the banning of melting silver coins. |
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Pillar of the Community
United States
2049 Posts |
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Pillar of the Community
United States
561 Posts |
Well, I guess I make it sound more clear than it really is. There is certainly some ambiguity in the wording and I am sure it would be very difficult if not impossible to prove but if they wanted to I am sure they could get you on this from the US Code: Quote:
Whoever fraudulently alters, defaces, mutilates, impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the mints of the United States, or any foreign coins which are by law made current or are in actual use or circulation as money within the United States; or link here: http://uscode.house.gov/uscode-cgi/...%20%20%20%20Now the debate would be around whether these coins are "current" or "in actual use" or "in circulation as money". Given that they have not been demonetized and they are still currently able to be used as money should someone chose to I would say this covers them. |
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Pillar of the Community
 Canada
1700 Posts |
Alibaba is the Chinese website for many illegal vendors.
Plus, what about the shipping?
I was born and partially educated in China, and I understand the conditions of vending.
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Pillar of the Community
United States
1391 Posts |
Merc Man, I think the key word in your quote is "fraudulently." It is the modifier that the whole rest of the statement depends on. While you are correct that you can argue that they are still current and not demonetized that only matters if the word "fraudulently" was absent from the code. It is not against the law to deface coins. It is only against the law to fraudulently deface coins. Since "fraudulently" is there it makes the issue of: "current" or "in actual use" or "in circulation as money" a moot point.
Fraud has a specific definition under the law, too. "In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual."
It seems clear to me and that is why I think you are incorrect in your interpretation.
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Pillar of the Community
United States
2049 Posts |
MercMan...silver coins are being melted all the time and have been for years. As the poster above me stated, the key word is fraudently. If someone melts a US silver coin to make into a silver bar or silver jewelry, where's the fraud?
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Valued Member
United States
192 Posts |
isn't it any form of defacing ?
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Valued Member
United States
192 Posts |
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Pillar of the Community
United States
561 Posts |
Quote:
MercMan...silver coins are being melted all the time and have been for years. Just because something is being done all the time doesn't make it legal. However, I understand the argument that was made in response to the one piece of the US Code I posted. At the end of the day though it really doesn't matter because the law only applies if it can be enforced. You could never prevent people from melting silver coins even if it really doesn't make any sense to do so. |
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Pillar of the Community
United States
1796 Posts |
It is perfectly legal to do whatever you want to American coinage. One simply cannot take advantage of penny and nickel bullion value. Yet.
Silver coins are up for grabs.
Not that I would do so.
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Pillar of the Community
United States
2049 Posts |
Quote:
You could never prevent people from melting silver coins even if it really doesn't make any sense to do so. Yeah I agree with that. It doesn't make sense to me to melt govt issued coins that have a known purity and such. I guess I could see a jeweler wanting to do it, but the general public melting them into ingots doesn't make much sense. |
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Valued Member
United States
52 Posts |
Here's a link to the Canadian penny law via an article written about it: http://coincollectingenterprises.co...pper-pennies and http://coincollectingenterprises.co...es-the-pennyIt states: "No person shall, except in accordance with a licence granted by the Minister, melt down, break up or use otherwise than as currency any coin that is current and legal tender in Canada."For the silver... at least with nickels it shows: (d) The prohibition contained in ยง82.1 against the exportation, melting, or treatment of 5-cent coins shall not apply to 5-cent coins inscribed with the years 1942, 1943, 1944, or 1945 that are composed of an alloy comprising copper, silver and manganese.Found that on http://ecfr.gpoaccess.gov/cgi/t/tex....1.2&idno=31 via http://coincollectingenterprises.co...-legislationThat would suggest you can do whatever you want to the silver War Nickels regardless of the laws pertaining to the nickel. My understanding is fraudulent use of coins regarding the penny and nickel is primarily based on when you are taking a coin and using it for intent to extract value of it due to the metal value via melting/destruction. Hope those links help! I browse the articles and links on that coincollectingenterprises.com site because they have a habit of always linking their sources of the facts they say. |
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Posted 06/15/2012 02:12 am
