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toomuchcopper
Penny Collector Member
USA
406 Posts |
 Posted - 11/07/2009 : 17:39:08
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I have heard it is not illegal to melt copper pennies from canada...has anyone had any experience with actually bringing these to a scrap yard for cash. I have about 60 pounds right now and thought it would be interesting to see if it would really work. but not wanting to rock the boat to hard. any thoughts?
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visit www.crazycoinguy.com
for information on how to sort, what to sort, and sorting equipment. We also sell copper pennies in bulk, and other coins. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/07/2009 : 20:38:18
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| It is illegal to melt copper pennies in Canada. No other government in the world cares what you do with another country's coin (except counterfeit it). I am very interested to see if anyone has tried this. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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toomuchcopper
Penny Collector Member
USA
406 Posts |
Posted - 11/24/2009 : 19:40:00
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| well nobody has tried this i guess.....what about any of yo in canada trying to sell us pennies for scrap....anybody? |
visit www.crazycoinguy.com
for information on how to sort, what to sort, and sorting equipment. We also sell copper pennies in bulk, and other coins. |
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Farmall
Penny Pincher Member
USA
112 Posts |
Posted - 11/29/2009 : 09:14:03
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| I think everyone it holding on to what they have. |
PACK THE FORUM EVERY MONDAY NIGHT
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Mountain 7 PM
Pacific 6 PM ( HCBTT Time) |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 11/29/2009 : 15:06:28
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Really? I didn't know that Canada also had the melt ban on Pennies! Do they also have it on Nickels? Because they are melting the nickels arn't they? They publicly announced they are reclaiming the Ni Nickels haven't they????
No, I don't have more than 5 lbs of Canadian Copper. BUt when I get to 50lbs I may bring in 25lbs and see what they say. |
"May your percentages ever increase!" |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
Posted - 11/29/2009 : 17:25:10
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Canada currently has no export ban on coinage. The mint is reclaiming all nickel coins through its Alloy Recovery Program (ARP).
It is illegal to melt them in Canada without a license, but the become base metal the second they leave the country. |
www.londongoldbuyer.com |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 11/29/2009 : 19:14:43
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| I'm not so sure that a Canadian exporting coinage for the express purpose of melting would be safe from criminal charges if the authorities knew about the scheme and could demonstrate that the exporter knew the coins would be melted. I'm no expert on law but I do know that in some situations Canadians have been charged for breaking Canadian law outside the country. If you tried shipping a few tons straight to a scrapper outside the country I believe they might find a few things to charge you with. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 11/30/2009 : 06:26:51
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| good points! |
"May your percentages ever increase!" |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/01/2009 : 03:10:19
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| I sell Canadian coinage to collectors. There is nothing wrong with that. When you want some Canack Cu let me know. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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1945V
Penny Pincher Member
Canada
153 Posts |
Posted - 12/01/2009 : 06:24:45
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I think it is a losing proposition to melt coins into ingots.
You have to pay someone to cast them into ingots.
Then the selling price will be considerably less than spot, because it will be difficult to convince people the purity of the copper from an unknown caster (mint).
In coin form, you have an instant assay of the metal content and you can get the spot (or close to) price. |
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canadian copper pennies
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