| Author |
 Topic  |
|
|
AlexTG
New Member
USA
20 Posts |
 Posted - 03/05/2010 : 13:00:40
|
So I was studying for my Spanish test and had an ADD moment. Looking over at my nightstand, I picked up a crushed zinc my girlfriend got me when she went to the Smithsonian. I thought to my self “wouldn’t it be interesting if someone sold the crushed pennies instead of the normal ones?”
Then it hit me, there is a melt-ban on pennies.
There is no melt-ban on crushed pennies, because they are no longer pennies. If they were still pennies then you could use them to pay debts, but try doing that and someone will reject your request. IF you can not melt crushed pennies then one of two things could happen in court, ban penny crushing machines, (big loss…) or crushed pennies would have to be accepted as legal tender.
Does that mean someone could make an automatic penny crushing machine and could process through tons of pre-1982 pennies so they then could be melted down?
I realize this is far fetched, but you can see where I am going with this idea.
I know we don’t want the melt ban to be lifted right now and that at current prices it may not be worth going through the process of developing such a machine. (Ryedale you busy?)
What do you guys think? Just theory crafting here.
P.S. The crushed zincolin is of a f-16 and the zinc is coming out of the jet engines, and outlines the jet. But shows up nowhere else, it actually looks really cool.
|
|
|
tlake22
Penny Sorter Member
USA
72 Posts |
Posted - 03/05/2010 : 13:02:01
|
| I think you have a valid point. |
terry |
 |
|
|
thedrifter
Penny Sorter Member
USA
96 Posts |
Posted - 03/05/2010 : 13:18:17
|
To use your logic, one could at this time melt the ugliest of the ugly abes. I mean the ones that are so badly corrided, damaged, etc as to render them unreconizable or unusable.
But just try convincing one of the gustapo in the mint or treasury etc. |
The Drifter |
|
|
|
AlexTG
New Member
USA
20 Posts |
Posted - 03/05/2010 : 13:26:02
|
quote:
Originally posted by thedrifter
To use your logic, one could at this time melt the ugliest of the ugly abes. I mean the ones that are so badly corrided, damaged, etc as to render them unreconizable or unusable.
But just try convincing one of the gustapo in the mint or treasury etc.
I would agree with this except for one thing, I could still take the worst of the worst. Go to my bank run them in the counter, and get the 1c value for it.
Compared to pennies that are usable, the amount of unusable ones are very, very small. I would wager even if HCBTT was to collect all of his unusable pennies, and melt them down. The Feds would not be knocking on his door as it would be such a small impact on the overall supply of pennies, nobody would ever know except him, and possibly the person who melted them for him.(assuming he can't do it himself) The supply is really what they are concerned with.
|
|
|
|
natsb88
Administrator
USA
1850 Posts |
Posted - 03/05/2010 : 13:33:47
|
Sorry guys, it's not that easy 
Department of the Treasury, 31 CFR Part 82
Prohibition on the Exportation, Melting, or Treatment of 5-Cent and One-Cent Coins
82.2 (2) (b) The prohibition contained in Sec. 82.1 against the treatment of 5-cent coins and one-cent coins shall not apply to the treatment of these coins for educational, amusement, novelty, jewelry, and similar purposes as long as the volumes treated and the nature of the treatment makes it clear that such treatment is not intended as a means by which to profit solely from the value of the metal content of the coins. |
Nate
The Copper Cave
|
|
|
|
AlexTG
New Member
USA
20 Posts |
Posted - 03/05/2010 : 13:38:36
|
quote:
Originally posted by natsb88
Sorry guys, it's not that easy
Department of the Treasury, 31 CFR Part 82
Prohibition on the Exportation, Melting, or Treatment of 5-Cent and One-Cent Coins
82.2 (2) (b) The prohibition contained in Sec. 82.1 against the treatment of 5-cent coins and one-cent coins shall not apply to the treatment of these coins for educational, amusement, novelty, jewelry, and similar purposes as long as the volumes treated and the nature of the treatment makes it clear that such treatment is not intended as a means by which to profit solely from the value of the metal content of the coins.
Thanks, somehow I feel you have been over this before.
The thing about showing up late to the party, you never know what everyone has already talked about. |
|
|
|
natsb88
Administrator
USA
1850 Posts |
|
|
jadedragon
Administrator
Canada
3788 Posts |
Posted - 03/05/2010 : 15:05:09
|
| So burning pennies in science class is cool - but smelting them by the truckload is not cool. |
“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 |
|
|
|
AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 03/05/2010 : 15:24:38
|
| Is there somewhere you can redeem damaged coins? |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
|
|
|
slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 03/05/2010 : 16:12:02
|
| The United States Mint is the only place that handles redemption of mutilated coins, and they should be sent to the Mint at Post Office Box 400, Philadelphia, PA 19106. |
You don't have to be the BEST you just have to be.......SLICK
|
|
|
|
Bart
Penny Pincher Member
Canada
120 Posts |
Posted - 03/05/2010 : 20:35:21
|
I was toying with the idea of leaving some pennys on the train tracks by my house. Just a roll or two at a time but with my luck it would derail the train when it went by! |
Nice. Yes. Very nice. |
|
|
|
dougefresh
Penny Sorter Member
34 Posts |
Posted - 03/05/2010 : 20:38:44
|
quote:
Originally posted by Bart
I was toying with the idea of leaving some pennys on the train tracks by my house. Just a roll or two at a time but with my luck it would derail the train when it went by!
We used to do this when we were kids. Works fine, but as a 'responsible" adult now, I really wouldn't recommend it. |
|
|
|
smalltimeopn
Penny Sorter Member
USA
54 Posts |
Posted - 03/06/2010 : 07:03:05
|
quote:
quote:
Has anyone ever sent damaged coins back to the mint? Obviously the banks are not doing their job. I have some that I would like to send. |
|
|
|
smalltimeopn
Penny Sorter Member
USA
54 Posts |
Posted - 03/06/2010 : 07:07:16
|
| I messed up the quote thing above, I was refering back to Slickeast and AGM's posts on sending damaged coins back to the mint. Anyone have experience with that? |
|
|
|
Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 03/06/2010 : 09:17:15
|
quote:
Originally posted by dougefresh
quote:
Originally posted by Bart
I was toying with the idea of leaving some pennys on the train tracks by my house. Just a roll or two at a time but with my luck it would derail the train when it went by!
We used to do this when we were kids. Works fine, but as a 'responsible" adult now, I really wouldn't recommend it.
There is another consideration as well. You must put the pennies in a place the train is going fairly slow. I've tried at many times as a kid, but I never got any back as the train was always going to fast. I'm not sure if they stuck to the wheels or got flung. And to second the "responsible adult" viewpoint, we were waaaaay to close to the tracks when the trains went by. |
Are you throwing that out? |
|
|
|
Copper Catcher
Administrator
USA
2092 Posts |
Posted - 03/06/2010 : 20:40:51
|
I did send some damaged coins back I think it qas around $20 but got a postcard saying I did not meet their mininum coin requirement.
I would write them first before going through this hassle. |
|
|
|
Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 03/06/2010 : 21:41:53
|
How about a machine to make Realcent crushed pennies? We could sell them by the ton. Of course if we weren't able to sell them we would be forced to scrap them to recover our losses. 
 |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
|
|
|
smalltimeopn
Penny Sorter Member
USA
54 Posts |
Posted - 03/08/2010 : 18:25:23
|
quote:
So they kept your coins and sent ya a nice card saying you did not have enough???
What jerks!!! |
|
|
|
smalltimeopn
Penny Sorter Member
USA
54 Posts |
Posted - 03/08/2010 : 18:27:35
|
I keep screwing up this quote thing. Sorry folks.
My post above was concerning coppercatcher's reply. |
|
|
|
slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 03/08/2010 : 18:36:21
|
quote:
Originally posted by smalltimeopn
I keep screwing up this quote thing. Sorry folks.
My post above was concerning coppercatcher's reply.
So how are you screwing it up?
DON'T DELETE ANYTHING
Just start typing |
You don't have to be the BEST you just have to be.......SLICK
|
|
|
|
smalltimeopn
Penny Sorter Member
USA
54 Posts |
Posted - 03/08/2010 : 19:00:09
|
| I just did the quick reply on this one but on the others, I hit "reply to topic", highlight the quote I want to reference, then click on the "add quote" button but it is empty. I need to read the owners manual! |
|
|
|
natsb88
Administrator
USA
1850 Posts |
Posted - 03/08/2010 : 19:23:22
|
quote:
Originally posted by smalltimeopn
I just did the quick reply on this one but on the others, I hit "reply to topic", highlight the quote I want to reference, then click on the "add quote" button but it is empty. I need to read the owners manual!
You can either use the "Reply with Quote" button at the top of a post, or you copy the text you want to quote and paste it inside of the quote tags that the "Insert Quote" button creates. It's better just to use the "Reply with Quote" button, because it automatically identifies the original author within the quote. |
Nate
The Copper Cave
|
|
|
|
jadedragon
Administrator
Canada
3788 Posts |
Posted - 03/08/2010 : 20:38:28
|
| Nate is the manual, just read his posts. |
“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 |
|
|
|
thatgeorge
New Member
15 Posts |
Posted - 03/08/2010 : 21:24:52
|
| Just a thought, but if you melted your copper pennies and then junked them up to 98 percent copper how would anyone be able to prove that you hadn't melted down a bunch of Canadian pennies? |
|
|
|
nokozan
Penny Sorter Member
35 Posts |
|
| |
Topic |
|
Loophole?
Forum Locked
