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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 03/23/2010 : 17:25:16
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FINAL REGULATION ISSUED PROHIBITING THE EXPORTATION, MELTING, OR TREATMENT OF UNITED STATES ONE-CENT AND 5-CENT COINS
On April 10, 2007, United States Mint Director Edmund Moy approved a final rule that generally prohibits the exportation, melting, or treatment of United States one-cent coins (pennies) and 5-cent coins (nickels), which became effective upon publication in the Federal Register on April 16, 2007. The final rule is based on the interim rule that was published on December 20, 2006, and it addressed public comments submitted in response to the interim rule. The United States Mint concluded the interim rule would be adopted as a final rule with certain changes based on the public comments and additional considerations. This measure has been implemented to protect the coinage of the United States by ensuring that sufficient quantities of 5-cent and one-cent coins remain in circulation to meet the needs of the United States. A violation of these restrictions can lead to a fine of up to $10,000, imprisonment of up to 5 years, and forfeiture of the subject coins or metal. The authority for implementing this regulation is Title 31 of the United States Code, Section 5111(d). |
You don't have to be the BEST you just have to be.......SLICK
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What law makes melting cents illegal?
Forum Locked
Posted - 03/23/2010 : 16:49:45
