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 Replies: 25 / Views: 7,313 |
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Pillar of the Community
Canada
5246 Posts |
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Any constitutional lawyers out there?
While I know it is a federal offense to melt nickels and copper pennies, how could this be enforceable? Coins are the property of the owner and they can do what they want with them. Coins are not licensed to the user by the government nor does the government retain an interest in the coin once it is released to the public.
This would be an interesting case to try in court if only it were worth the effort. The law is clear. The enforceability is a different issue. There are a lot of laws on the books that are not enforced or are not very practical to enforce. But I can't imagine a large smelter taking the risk for something like this. They would just be drawing attention to themselves. A clandestine operation doing only coin melting might be have an easier time. And as far as what the government can do, the US seized all the gold coin in 1933. Was this ever taken to court? Governments, historically, have done pretty much anything they please and got away with it. |
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Bedrock of the Community
United States
17884 Posts |
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So, does that mean that all those junk silver coins that were melted in the 80s were actually criminal acts? No because the laws against melting the silver coins were repealed in the early 70's. Quote:
And as far as what the government can do, the US seized all the gold coin in 1933. Was this ever taken to court? They didn't confiscate the gold, they made it illegal to own, and paid for all the gold turned in. AS far as I know the gold recall order itself was never challenged, the ownership of gold certificates was and eventually the collectors won that one. If the recall had demanded the gold be turned over without compensation it probably would have been challenged. But since in the case of gold coins they pretty much exempted all of them from the recall there wasn't much complaining. |
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Pillar of the Community
United States
655 Posts |
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No because the laws against melting the silver coins were repealed in the early 70's. Thanks for the update, Conder101. I had no idea about the actual legality of this but I know everyone who could was doing it- and still are. Old silver coins are worth far more dead than alive. But, not so much for copper pennies. According to my calculations, you'll only get about 2 cents for every old Lincoln. (Scrap copper prices can vary from $2 to $3 per lb and it takes 145 pennies to make a lb.) |
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Bedrock of the Community
United States
19964 Posts |
Scrap yards here won't buy them, they are not dumb and well know it's illegal to melt them.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Bedrock of the Community
United States
19964 Posts |
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The law is clear. The enforceability is a different issue. There are a lot of laws on the books that are not enforced or are not very practical to enforce. But I can't imagine a large smelter taking the risk for something like this. They would just be drawing attention to themselves. A clandestine operation doing only coin melting might be have an easier time. Right! The melting moonshiners would likely be losing money on the deal. Factor in melting, making ingots, time and transportation costs - also figure the buyer wants to buy below melt. IT'S A LOSING PROPOSITION! IMO, the gov needs to lift the melt ban and stop making cents. Our currency is so inflated that pennies are useless rubbish in circulation. Not to mention - harmful trash to the environment from production to disposal. Edited by BadThad
01/29/2018 10:25 pm
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Pillar of the Community
United States
1314 Posts |
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Governments, historically, have done pretty much anything they please and got away with it. I agree. |
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Moderator
 United States
189142 Posts |
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IMO, the gov needs to lift the melt ban and stop making cents. Our currency is so inflated that pennies are useless rubbish in circulation. Not to mention - harmful trash to the environment from production to disposal.  |
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Bedrock of the Community
United States
17884 Posts |
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But what would you do with copper cents that have been abused, bent, damaged, scratched, verdigis damage etc?
You can send them back they will send you new ones I would think coins are the same as paper dollars they only give you new if it more than 50 % there Used to be able to do that, but the Mint redemption program has been on hold for a year or two now since it was discovered the Chinese were making fake half dollars (at a cost of maybe 8 cents apiece) mutilating them and then the mint was redeeming them for 50 cents apiece. They claimed they were recovering them from cars shipped over as scrap metal. At the rate they were redeeming them they would have been needing to find about $100 in half dollars in every car shipped over. So until further notice the redemption program is in limbo. Edited by Conder101
01/30/2018 5:45 pm
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Bedrock of the Community
United States
94367 Posts |
What next?  Actually, I guess it's pretty clever when you think about it. |
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Valued Member
 United States
111 Posts |
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Used to be able to do that, but the Mint redemption program has been on hold for a year or two now since it was discovered the Chinese were making fake half dollars (at a cost of maybe 8 cents apiece) mutilating them and then the mint was redeeming them for 50 cents apiece. They claimed they were recovering them from cars shipped over as scrap metal. At the rate they were redeeming them they would have been needing to find about $100 in half dollars in every car shipped over. So until further notice the redemption program is in limbo. Nice to know. Wonder how many coins have been melted when they melt a car as when you take the seats out of old cars usually lots of coins under the carpets. |
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Replies: 25 / Views: 7,313 |
First Page
Posted 01/29/2018 09:53 am
