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 Replies: 40 / Views: 3,109 |
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Pillar of the Community
United States
1952 Posts |
I say melt them all. lol can you imagine what mine would be worth if all the rest were melted?
woohoo I would be rich lol
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Bedrock of the Community
United States
20753 Posts |
Quote:
I say melt them all. lol can you imagine what mine would be worth if all the rest were melted?
woohoo I would be rich lol
It's happening every day. Recyclers of metal around me take in anything, and I mean anything. Been known to even take manhole covers. Along with Copper wires, pipes, ground rods, there always a pile of Copper coins. I asked a guy that collects metal if he ever threw in Copper coins with the other Copper when taking to recyclers. OF COURSE was the answer. No hesitating. Law or no law, Copper coins of all types are being melted daily. Not to long ago a person I know told me he dumped a large can of old coins in the recycler place and got about 2 cents a coin that way and no problems with selling on ebay, coin stores, etc. There is even web sites dedicated to the distruction by melting of most of our coinage. I'd bet that about 99% of our population has never heard of that law. |
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Valued Member
United States
148 Posts |
I wonder if those machines that take a penny and make a souvenir token out of it,
you know, the kind they have in Vegas and other tourists places, need a special license to destroy a penny.
Probably this is one of those laws that came way back to answer some need, and it just not important enough for anyone to change it...
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Pillar of the Community
United States
6326 Posts |
legal or illegal, if people can make money by "melting something down" and selling it to someone.......they'll do it for sure and for certain !....  I for one do not "hoard copper" Cents of any sort of kind.......That's a lot of effort and I don't have the room to do it. I can appreciate the efforts of those who do this tirelessly though. It amazes me as to the massive containers of cents that they have or will accumulate. I picture a corner of a basement FULL of cents like a Fed Reserve vault or something !.......  Too much for me to contemplate doing !! |
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Bedrock of the Community
United States
19963 Posts |
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What's the numismatic value of a coin they made enough for every person on the planet to own one? I have one that's worth $2000+.  |
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Bedrock of the Community
United States
19963 Posts |
As far as melting....I say get it on. It will make the numismatic value of copper Lincolns even higher and the series more collected and appreciated. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
6326 Posts |
hmmmmmm......  ......  |
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Valued Member
United States
227 Posts |
I think if they lift the ban we will see a huge increase in value of Lincoln cents. letting those idiots melt them for 2 cents a piece after about a year All the ones many collectors are holding will soar in value probably more than 10 times that
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Pillar of the Community
United States
2602 Posts |
On the one hand melting them could create interesting date or mint mark shortages, like that seen for certain Morgan dollars, so some cents and nickels would rise in value accordingly. But I think it's a shame to melt potential numismatic treasures, because there may be rare varieties or errors that will get melted and this takes the fun out of roll searching! |
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Rest in Peace
United States
9104 Posts |
When you go to the bank and they have signs up asking for British coins because they'll take anything to make change for a nickel, where do you get rolls to search? Quote:
All the ones many collectors are holding will soar in value probably more than 10 times that
They've been melting silver coins for 40 years, and if it wasn't for their silver content, they still wouldn't be worth more than face. Why should cents go up to ten times? |
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Pillar of the Community
United States
3499 Posts |
I just say that we should melt LCMs since they were made in huge numbers for each year and mint mark. So there really wouldn't be shortages in the future.
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Pillar of the Community
United States
507 Posts |
I -assume- there's laws against melting graveyard plaques, fire hydrants, and such, but they seem to get stolen and melted down. I may be assuming too much, though.
I think once it is legal, and the newspapers print it, joe-six-pack will think it's easy money. He'll take all the pennies in the bank down to the scrapyard, without bothering to sort them. Will probably be frustrating to the recyclers.
WheatieFan
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Rest in Peace
United States
9104 Posts |
They'll spot check, and he'll find himself taking them back to Coinstar at 90% of face.
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Bedrock of the Community
United States
20753 Posts |
In reality there is little to worry about with such laws. Soon enough there will be no need for coins or currency anywhere on Earth. If you look around you'll notice that a larger and larger percentage of all transactions are being done with plastic. Due to intercontinental transactions such things as coins or currency will just not be practicle soon. We may be seeing the last of all coins soon.
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Moderator
 United States
188952 Posts |
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If you look around you'll notice that a larger and larger percentage of all transactions are being done with plastic. True. I think that the convenience of using plastic is one of the reasons why it now takes me longer to find the Denver Mint coins each year. Not just my increased use of plastic, but the traveler that would be bringing the coins east are more likely to use plastic rather than cash; traveling with a lot of cash is risky. |
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Posted 08/15/2008 8:26 pm
