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 Replies: 20 / Views: 4,717 |
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Pillar of the Community
United States
939 Posts |
So I know a lot of people save the copper pennies in hope that the government wants to make it legal to melt it down. I know it's illegal to melt them down, but I'm wondering how anyone would be able to tell it's copper pennies that were melted down, say if I decided to melt them down, and bring them to a scrap yard? (I'm not saying I am going to do this, just wondering what stops people from doing it anyways?)
*** Moved by Staff to a more appropriate forum. ***
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Pillar of the Community
 United States
2843 Posts |
Crime doesn't pay. You could probably get away with it a few times and make a few dollars profit, but eventually you run the risk of someone snitching on you or the wrong person seeing you in action.
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Rest in Peace
United States
233 Posts |
You would be selling to a criminal, while doing something that you cannot disclose to the police.
Q/ What makes you think that you would not get robbed?
Cheers,
/s/ ikeyPikey
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Pillar of the Community
United States
2775 Posts |
Quote:
what stops people from doing it anyways? Well the way(s) I look at it is what happens across the borders, I'm not making it my business. Within the borders, paper trails like mentioned in this post I try my best to steer away from as I would not think about it unless it was legal to do so. If I was with the Secret Service, I might be screening the Internet for key words or phrases like, a. copper pennies, b. melt it down, c. copper pennies that were melted down, d. bring them to a scrap yard That's why I'm not thinking about nor trying to promote it..... Thanks, Doug. Edited by Halo1st
03/13/2018 6:49 pm
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Pillar of the Community
 United States
939 Posts |
Yeah I know, this doesn't make me look very good asking about it. But it's something that I wondered. Makes sense if it was done more overseas. I promise I'm not doing anything like that. Just wondered about that.
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Pillar of the Community
United States
2775 Posts |
Follow up, the day will come and many tons of copper cents will hit the furnace. Many are hoarding now for that day. Think I'll shed a tear or two when that day comes to pass. I probably would capitalize on it myself if I had the means. Quote:
I'm wondering how anyone would be able to tell it's copper pennies that were melted down For now paper trails and the metals composition would be a red flag. Thanks, Doug. Edited by Halo1st
03/13/2018 7:21 pm
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Bedrock of the Community
United States
62064 Posts |
Also the coin composition. It not pure copper. .950 copper, .050 tin and zinc.
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Pillar of the Community
United States
3622 Posts |
Why not just save and melt copper plumbing pipe scrap? It's much closer to pure copper, and perfectly legal to melt.
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Pillar of the Community
United States
3402 Posts |
COOP is right, the composition signature and your confession after a grilling would give it away. Don't take any of us down with you. I don't know this guy!!!
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Pillar of the Community
United States
939 Posts |
I'm not doing it. I was wondering about it lol. Don't worry guys. It's not illegal to ask about the law and how things work. Lol.
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Pillar of the Community
United States
2843 Posts |
Quote:
I'm not doing it. I was wondering about it lol. Don't worry guys. It's not illegal to ask about the law and how things work. Lol. I believe it is a fair question to ask. As much as it may sound like somebody who wants to break a law, it is certainly ponder-able what government was planning on doing to prevent this when they made the law. I personally cannot get myself to spend copper cents. Spending 2 cents worth of copper for 1 cent just doesn't make sense (pun intended) to me. I don't have a plan for the copper cents. Time will tell. The only time I can let one go, is when I give my kids a cent to smash in those elongated cent rollers. The zincolns don't come out nearly as nice. |
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Pillar of the Community
United States
1386 Posts |
I was wanting to start melting down my aluminum cans to take in blocks. Higher price. Well the scrapeyards in my area won't touch them. Reason, They have no idea what's in the middle. So most likely you wouldn't find a scrap yard to even take a block of copper.
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Rest in Peace
United States
18456 Posts |
Quote:
the day will come and many tons of copper cents will hit the furnace. And when that happens, the price of copper will go down to 50 Cents a pound or less   |
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Pillar of the Community
United States
4233 Posts |
It's interesting to ponder, but you'd have to melt at least 10,000 cents to make $100, and your home smelter equipment could easily run upwards of a couple thousand, so you're melting a couple hundred thousand coins before you break even.
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Bedrock of the Community
United States
17884 Posts |
As Coop says your resulting block is not pure copper, so you're not going to get anywhere close to the spot price for it. Figure maybe half of the copper spot price. At that rate you'll have more in face value in cents in the ingot than what the scrapyard will give you for it. Now if copper gets back up the five or six dollar a pound range then you might be able to make a profit.
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Pillar of the Community
United States
8715 Posts |
Crime doesn't pay. Someone will eventually notice, and report you to the police.
Even if someone attempts to scam you when you go to sell the copper, you cannot go to the police as you are breaking the law.
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Replies: 20 / Views: 4,717 |
Posted 03/13/2018 4:58 pm
