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 Replies: 10 / Views: 1,621 |
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Pillar of the Community
United States
979 Posts |
How often do you guys think this happens? Do you think spray painted coins apply? "Quick Circulating Coin Facts: Mutilated Coins: United States coins no longer fit for circulation are classified as "uncurrent" or mutilated. Uncurrent coins are coins that are worn yet recognizable as to genuineness and denomination, and are machine countable. Uncurrent coins are redeemed by the Federal Reserve Banks, then forwarded to the Mint for disposition. Mutilated coins are coins that are chipped, fused and not machine countable. Mutilated coins are only redeemable through the United States Philadelphia Mint facility. All uncurrent or mutilated coins received by the Mint are melted and reused in the manufacture of coinage strips." Edited by Broseph
10/01/2012 9:26 pm
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Bedrock of the Community
13014 Posts |
Painted coins are usually still machine countable as long as you dont change the size and weight of the coins or use something that would change whether or not its magnetic.
I think its more for coins that you cant tell what they are/broken/partially melted/someone shot a holes through ect.
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Moderator
 United States
56855 Posts |
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All uncurrent or mutilated coins received by the Mint are melted and reused in the manufacture of coinage strips." I wonder if that includes cents? If the mint can melt cents why can't we? John1  |
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Moderator
Australia
16817 Posts |
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If the mint can melt cents why can't we? Because the Mint sets the rules. Specifically, there's a whole swag of "exceptions" to the ban on melting, including an exception for making jewellery or other novelty items, an exception for accidental or "incidental" recycling, and others. But more significantly, people with a "license to melt" are exempted. The regulation in question states: Quote:
82.2(f)(1) The prohibition contained in § 82.1 against exportation, melting, or treatment of 5-cent coins and one-cent coins of the United States shall not apply to coins exported, melted, or treated under a written license issued by the Secretary of the Treasury (or designee).
(2) Applications for licenses should be transmitted to the Director, United States Mint, 801 9th Street, NW., Washington, DC 20220. See the Federal Register page for the complete regulation, as it currently stands (they had to rewrite it twice after the interim regulation expired). The upshot is, if you want to melt these coins for profit legally, you have to write to the Mint for a license. So you can be pretty sure the Mint has written whatever licenses they need for themselves (and/or for the contractors they delegate the melting to). And, given that the Mint is going to be keen on retaining its melt monopoly as long as practicable, then the only people whose applications are likely to be successful are the Mint and its contractors. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Moderator
United States
188130 Posts |
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Do you think spray painted coins apply? Painted coins are usually very easily cured with acetone.  |
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Moderator
United States
56855 Posts |
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including an exception for making jewellery or other novelty items So I can legally make a 16 ounce copper novelty ingot by melting copper cents? What would be the definition of novelty do you suppose? John1 Edited by John1
10/02/2012 1:52 pm
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Bedrock of the Community
13014 Posts |
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So I can legally make a 16 ounce copper novelty ingot by melting copper cents?
What would be the definition of novelty do you suppose? Thats where it gets very unclear. If you made 1 or two it wouldnt be an issue but if you tried to make a business out of it thats where the court battles would start. Even though it doesn't apply to melting the first thing that I thought of was the machines that roll the pennies out into a token of some sort |
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Moderator
Australia
16817 Posts |
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So I can legally make a 16 ounce copper novelty ingot by melting copper cents?
What would be the definition of novelty do you suppose? They've got that covered too. It seems a "novelty" is something that's sold for far, far more than bullion price. Quote:
(b) The prohibition contained in § 82.1 against the treatment of 5-cent coins and one-cent coins shall not apply to the treatment of these coins for educational, amusement, novelty, jewelry, and similar purposes as long as the volumes treated and the nature of the treatment makes it clear that such treatment is not intended as a means by which to profit solely from the value of the metal content of the coins. "Intent" of the manufacturer seems to be key, and could indeed be open to interpretation, since the Mint aren't mind-readers. But I'd assume they determined "intent" if you offered them for sale; if you sold them for way over scrap/bullion price, they're clearly artwork/novelties; if they were sold for scrap price, then the "novelty" defence would be unreasonable. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Moderator
United States
56855 Posts |
This thread is getting interesting. Thanks for all the info SAP. John1 |
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Pillar of the Community
 United States
979 Posts |
How hot would you need to get pennies to melt? I wonder what kind of oven/kiln/forge one would use
Edited by Broseph
10/04/2012 8:45 pm
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Bedrock of the Community
United States
17884 Posts |
The brass or bronze ones around 1900 degrees F. The Zincolns around 800 degrees F.
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Replies: 10 / Views: 1,621 |
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Posted 10/01/2012 9:24 pm
