Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
Vancouvers #1 Coin and Paper Money Dealer Coin, Banknote and Medal Collectors's Online Mall Shop for APMEX Bullion on eBay!300,000 items to help build your collection! Join Thousands of Coin, Bullion, & Money Collectors Specializing in Modern Numismatics Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes.








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

Post Mint Damage

To participate in the forum you must log in or register.
Author Previous TopicReplies: 10 / Views: 1,299Next Topic  
Pillar of the Community
tumbleweedtrumpet's Avatar
United States
1418 Posts
 Posted 11/08/2009  6:16 pm Show Profile   Bookmark this topic Add tumbleweedtrumpet to your friends list Get a Link to this Message Number of Subscribers
What happened? Any thoughts?

Post-Mint-Damage

Post-Mint-Damage
Valued Member
hippiebrian's Avatar
United States
436 Posts
 Posted 11/08/2009  6:44 pm  Show Profile   Bookmark this reply Add hippiebrian to your friends list Get a Link to this Reply
Lawn mower?
Pillar of the Community
fioti's Avatar
United States
4212 Posts
 Posted 11/08/2009  8:46 pm  Show Profile   Bookmark this reply Add fioti to your friends list Get a Link to this Reply
Garbage disposal? Looks like it's been to heck and back!
Moderator
Learn More...
vermontensium's Avatar
United States
16679 Posts
 Posted 11/08/2009  9:41 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
Damaged. Spend it.
swcoin.ecrater.com
Valued Member
United States
303 Posts
 Posted 11/09/2009  01:31 am  Show Profile   Bookmark this reply Add hc8604 to your friends list Get a Link to this Reply
If a bank received this coin, what whould happen to it?
Pillar of the Community
tumbleweedtrumpet's Avatar
United States
1418 Posts
 Posted 11/09/2009  07:58 am  Show Profile   Bookmark this reply Add tumbleweedtrumpet to your friends list Get a Link to this Reply
Not sure, but I found it roll searching.
Pillar of the Community
eaglefoot's Avatar
United States
6326 Posts
 Posted 11/09/2009  08:19 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
What's wrong with it ?.......












Bedrock of the Community
biokemist6's Avatar
United States
12437 Posts
 Posted 11/09/2009  11:04 am  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply

Quote:
If a bank received this coin, what whould happen to it?

A bank would probably not even accept it since mutilated coinage is considered to be unfit for circulation, not to mention the fact that the Treasury will not redeem mutilated coins for full value so the bank would lose the face value.

"Those coins are classified either as uncurrent or as mutilated. Coins that are chipped, fused, and not machine-countable are considered mutilated. The Mint redeems mutilated coins at the value of their metal content.

Mutilated coins are only redeemable through the United States Mint at:
United States Mint
P.O. Box 400
Philadelphia, PA 19105
(215) 408-0203

Uncurrent coins are worn, but machine-countable, and their genuineness and denomination are still recognizable. Uncurrent coins are replaced with new coins of the same denomination by the Federal Reserve Banks, then forwarded to the United States Mint. All uncurrent or mutilated coins received by the Mint are melted, and the metal is shipped to a fabricator to be recycled in the manufacture of coinage strips."

http://www.treas.gov/education/faq/...les.shtml#q4
Valued Member
cmdrstp's Avatar
United States
113 Posts
 Posted 11/11/2009  01:09 am  Show Profile   Bookmark this reply Add cmdrstp to your friends list Get a Link to this Reply
Why does the U.S. Treasury treat damaged coins differently than bills? I don't understand why the U.S. Treasury could label the above coin as "mutilated" and only offer metal value yet honor replacement of a damaged bill if you have clearly 51% of the bill?

If that's the case I'll send them all my "mutilated" pre 1982 pennies and double my money with the current price of Cu! Silver, too! LOL.
Edited by cmdrstp
11/11/2009 01:29 am
Bedrock of the Community
Conder101's Avatar
United States
17884 Posts
 Posted 11/11/2009  9:38 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
The Mint redeems mutilated coins at the value of their metal content.

This is misleading. Yes they redeem them based on the value of their metal content, but under the full law as it is written they use that metal content to determine what that represented as FACE value and that is the value redeemed. A pound of CuNi clad identifiable as US coinage would get you $20 even though the market value of the metal is nowhere near that. Coins have to be separated by denomination and in at least one pound lots. Copper cents will be redeemed at a rate of $1.46 per pound, five cent pieces at $4.54 per pound, dimes quarters and halves at $20 per pound , and SBA's at $56 per pound. At least that was the way the law was written in 1999.

Tresury Regulations Subpart C Section 100.11 b
Bedrock of the Community
United States
20753 Posts
 Posted 11/12/2009  6:21 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
AHHH, so that is what happened to my Son's not bitting his fingernails anymore.
  Previous TopicReplies: 10 / Views: 1,299Next Topic  

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.27 seconds to rattle this change. Forums