Copper Canadian Cents In American Circulation.

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Author	Replies: 7 / Views: 1,568
buddy16cat Pillar of the Community United States 1536 Posts	Posted 02/23/2013 03:47 am When I am roll searching, I don't save coppers since I already have a cookie tin full and you can't do anything with them until they changed the law about melting them. I always save copper Canadians since our laws don't apply to them. Are people buying and selling these as bullion? Report this Post to the Staff

OddCoins Valued Member Canada 271 Posts	Posted 02/23/2013 08:21 am Yes - I know a Canadian coin collector who buys them for bullion. As long as the melting takes place in the United States, it's perfectly legal. However, I recommend saving any nice Canadian pennies that you find, since they're not making them anymore. Report this Post to the Staff
Bassmaster Pillar of the Community United States 1130 Posts	Posted 02/23/2013 8:37 pm I would definitely save them before I just melted them. Report this Post to the Staff
buddy16cat Pillar of the Community United States 1536 Posts	Posted 02/24/2013 03:19 am I save them, I have several young Elizabeth cents some in nice condition. I also have a few Henry 6th and one Henry 5th. I toss them in a felt bag with my foreign coins that I save. This felt bag is getting kind of heavy. Just wondering though if people are buying these as bullion since it is legal to melt these in the US and Canadian law does not apply to us. These pennies really don't belong in our circulation but find them all the time. Probably they were dumped in coin machines. Report this Post to the Staff
Broseph Pillar of the Community United States 979 Posts	Posted 02/24/2013 10:51 am I don't think the US would take kindly to us melting CA pennies, since the US doesn't want them melting ours. And yes, people buy/sell/trade copper cents. Usually $100 FV goes for $170 on ebay. It ships medium flat rate, weighs 68 lbs, close to the 70 lb limit for flat rate but just sneaking by. People actually refer to $100 FV in copper cents as a CTU, or "copper trade unit" Example: http://www.ebay.com/itm/100-Face-Va...em3ccf00bc8f This guy has sold 3 CTUs at $175. Some sell for more, but either way you lose a lot in fees. When all is said and done he will probably get $40 over face. Many people sell locally for $150-160 with either pick up or drop off deals. ebay's 10% is the biggest thing to avoid in this scenario, followed by shipping. Edited by Broseph 02/24/2013 11:01 am Report this Post to the Staff
Gothic Florin Pillar of the Community United States 2541 Posts	Posted 02/24/2013 12:47 pm buddy16cat - I think you mean George V and George VI! Report this Post to the Staff
buddy16cat Pillar of the Community United States 1536 Posts	Posted 02/25/2013 04:11 am I did mean George V and VI, the name just slipped my mind at the time. Report this Post to the Staff
buddy16cat Pillar of the Community United States 1536 Posts	Posted 02/25/2013 04:18 am Huh, I can't believe people are buying these on ebay. One time, I got some rolls close to box from a bank someone brought in. The oldest coins in the rolls was 1979. I stopped saving copper cents and just search for copper Canadian cents and wheat cents. Maybe I need to start saving the coppers again. I don't think it is illegal to melt Canadian coppers and don't think our laws apply to them. It isn't like I am crossing the border to get them. They are in our circulation. Same thing with American coppers in Canadian circulation. Report this Post to the Staff
	Replies: 7 / Views: 1,568

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