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 Replies: 17 / Views: 2,585 |
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Pillar of the Community
United States
2600 Posts |
As always, when I travel, I will buy a few flattened cents when the opportunity presents itself. I picked up some in Phoenix and will be having a giveaway on these shortly but found some interesting info in the process.
While in the Sedona, Az. visitors center, I found one of these machines and posted in large letters on it was a sign that stated " It is legal to make these flattened collectibles because they are still LEGAL TENDER IN ACCORDANCE WITH U.S. CODE 18-331". I have just Googles U.S. code 18-331 and it in fact addresses defacing current currency. Surprisingly, it is only illegal if it is done with fraudulent intent. Apparently, you cannot defraud someone with a smashed cent the says" Phoenix Botanical Gardens" on it. The intent was not to defraud so not illegal. Guess train rail coins would not be illegal, too.
This would explain why the Director of the mint had to issue a mandate making it illegal to melt cents and nickels. There is no intent to defraud when you melt a pile of cents into a copper ingot, so in accordance with 18-331 it is not illegal. That is why they needed to issue a secondary requirement stating that on these coins specifically, it is against the law to melt them. Guess that would mean drilling holes in a coin to make jewelry would be fine, also.
Jim Edited by Jim1953
03/02/2008 10:01 am
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Pillar of the Community
United States
5318 Posts |
Interesting detail on the law concerning these flattened cents.  So I suppose any merchant is obligated to accept them as legal tender? I would guess the same holds true for counterstamped coins, if that practice is ever renewed? |
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Bedrock of the Community
United States
20753 Posts |
I live in a heavily train populated area. Train tracks all over the place. Several commuter lines also right by my house. If you really like those flattened out cents, let me know and I'll go place hundreds on the tracks. I'll only charge you a few dollars each.  Let me know which train company you prefer.  |
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Pillar of the Community
 United States
2600 Posts |
Thanks, Carl, but I already have a couple of those.  Kurt, now you have me thinking, I wonder what a store clerk would do if you came in and tried to spend one? Jim |
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Pillar of the Community
United States
5318 Posts |
Carl, if only those rail companies would engrave their name on the wheels of the train...it could start a new collector craze But I imagine "die wear" would be terrible. |
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Valued Member
United States
168 Posts |
i'll take as many of those coins as possible...maybe they'll be worth something. I could get HSN to sell them for me. we could sell them as rare coins that were found after years of research...hehe
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Pillar of the Community
United States
533 Posts |
quote:
Carl, if only those rail companies would engrave their name on the wheels of the train...it could start a new collector craze
But I imagine "die wear" would be terrible.
 quote:
i'll take as many of those coins as possible...maybe they'll be worth something. I could get HSN to sell them for me. we could sell them as rare coins that were found after years of research...hehe
You might be on to something here, but first we would have to get ICG to grade them as MS70. Or betteryet, we could smash "ICG graded PR70 coins, and then sell them on HSN as Proof Smashed Coins!! |
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Valued Member
United States
328 Posts |
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Or better yet, we could smash ICG graded PR70 coins, and then sell them on HSN as Proof Smashed Coins!
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Valued Member
United States
168 Posts |
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Valued Member
United States
174 Posts |
SOOOOO Funny! You all are a hoot!  This is better than GO's serrated slab opening incident---NOT! Gussyboy1 |
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Pillar of the Community
United States
5318 Posts |
"we could smash "ICG graded PR70 coins, and then sell them on HSN as Proof Smashed Coins!" I laugh every time I read this And I bet those "Coin Vault" cons could pitch'em with a straight face. |
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Pillar of the Community
United States
6326 Posts |
I would be interested in buying any "gold layered" or "platnum layered"..PSC's (proof-smashed-coins). One question I have though.... Would the train wheels remove the "gold wash" though?.......just curious. And could I get a "premium" on the re-sale after buying the PSC's from HSN ? (I'm sure they have only a few left too!) I'm ready to invest....I just need a reliable provider ! Edited by eaglefoot
03/06/2008 09:27 am
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Bedrock of the Community
United States
17884 Posts |
quote:
So I suppose any merchant is obligated to accept them as legal tender?
They may still be legal tender, but the merchant is under no obligation to accept them. There is not law that says you must accept legal tender. |
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Valued Member
United States
342 Posts |
Interesting note...While legal in the US it is NOT legal in Canada.
Section 11(1) of the Currency Act states that "no person shall, except in accordance with a licence granted by the Minister [Minister of Finance], melt down, break up or use otherwise than as currency any coin that is current and legal tender in Canada." Furthermore, Section 456 of the Criminal Code of Canada makes it a criminal offence to deface circulation coins: "Every one who: (a)defaces a current coin, or (b)utters a current coin that has been defaced, is guilty of an offence punishable on summary conviction." The offence is not dependent on fraudulent intent.
-Royal Canadian Mint
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Pillar of the Community
United States
6326 Posts |
So, then, they'll be no Elvis Canadian nickles ? ......awwww man ! Edited by eaglefoot
03/12/2008 12:40 pm
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Bedrock of the Community
United States
17884 Posts |
quote:
Interesting note...While legal in the US it is NOT legal in Canada.
Many countries have similar laws regarding their coins. (defacemnet being illegal) Edited by Conder101
03/13/2008 1:57 pm
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Replies: 17 / Views: 2,585 |
Posted 03/02/2008 12:39 pm
