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Replies: 17 / Views: 1,596 |
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New Member
United States
6 Posts |
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Pillar of the Community
United States
2253 Posts |
What I do is Google ""Date" Lincoln Cent value" when I am curious about the value of a LC. This will give you a good idea of what it is worth. The copper content is worth more than face value but it is illegal to melt them so .....
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Bedrock of the Community
United States
94367 Posts |
It's not illegal to melt them, just not viable at today's copper price.
Your wheat-back S-mints are worth about 5-10 cents apiece (the common 1919-S a bit more), but the others are hardly worth keeping.
Edited by Coinfrog 06/01/2018 7:59 pm
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Rest in Peace
10197 Posts |
Like that rare 1977D Wheat cent...the only wheat cents "worth anything" are the extreme key dates, otherwise circulated semikey and other lesser key dates are $100 and less. Not an expensive series at all!.
Edited by Crazyb0 06/01/2018 8:03 pm
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Pillar of the Community
United States
2253 Posts |
Quote: It's not illegal to melt them I didn't know that. Once again I learned something new and stand corrected. Thank you
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Moderator
 United States
56855 Posts |
I read somewhere that it is illegal to melt US cents in the US. John1 
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Pillar of the Community
United States
2253 Posts |
Well time for me to do some research. EDIT Everything I'm reading says it is illegal to melt pennies. 
Edited by 11997755 06/01/2018 8:17 pm
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Bedrock of the Community
United States
94367 Posts |
News to me, but seems sort of silly if it's true. I know it's legal to melt silver coins, right? I mean, who would know that a given quantity of copper necessarily came from melted cents?
Edited by Coinfrog 06/01/2018 8:21 pm
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Pillar of the Community
United States
2253 Posts |
True, but that doesn't make it legal. Like you said, it just isn't worth the trouble, legal or not.
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Pillar of the Community
7234 Posts |
Quote: who would know that a given quantity of copper necessarily came from melted cents? They won't if you add some pure copper pipe to it when you melt it to change the composition. Scrap yards around here check the copper content with some kind of analyser thing and if it reads 95% copper and 5% zinc or tin, they won't have anything to do with you again -
Edited by Mark1959 06/01/2018 8:31 pm
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Bedrock of the Community
United States
94367 Posts |
Jeesh, I stand corrected!  So why is melting silver coins different from a legal standpoint? Anyone know? 
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New Member
 United States
6 Posts |
The 1941 S has 2 I'S in the word IN, the 1919 S in the word TRUST you can see a double strike.the 1957 d in the phrase IN GOD WE TRUST,has IN GDO WE DRUST.The 1977 d has 2 stars on Lincolns chin.are you guys really coin collected.
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New Member
 United States
6 Posts |
And sorry about the 77, I just threw that one in their..
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Valued Member
United States
97 Posts |
Quote: It's not illegal to melt them, just not viable at today's copper price It became illegal in 2007 to export or melt either 5-cent coins or cents. See Federal register. Search for document title: "Prohibition on the Exportation, Melting, or Treatment of 5-Cent and One-Cent Coins"Document Type:Rule Document Citation:72 FR 18880 Page:18880-18884 (5 pages) CFR: 31 CFR 82 Document Number:E7-7088 https://www.federalregister.gov/doc...e-cent-coins. Here's the text in case the link fails: SUMMARY: To protect the coinage of the United States, the United States Mint is adopting a final rule that prohibits the exportation, melting, and treatment of 5-cent and one-cent coins. This rule is issued pursuant to 31 U.S.C. 5111(d), which authorizes the Secretary of the Treasury to prohibit or limit the exportation, melting, or treatment of United States coins when the Secretary decides the prohibition or limitation is necessary to protect the coinage of the United States. This rule's purpose is to ensure that sufficient quantities of 5-cent and one-cent coins remain in circulation to meet the needs of the United States. DATES: Effective Date: This final rule is effective April 16, 2007. I do not believe this ruling has been rescinded.
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Bedrock of the Community
United States
94367 Posts |
Thanks for this - seems illogical and inconsistent with common practice on silver coinage - but appreciate the reference. 
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Bedrock of the Community
 United States
12477 Posts |
From what I remember, it is, however, legal to melt 35% silver wartime nickels. Those are provided an exception to the rule for 5-cent coins.
In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024
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Replies: 17 / Views: 1,596 |