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Old 07-07-2008, 09:56 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 22,457,643 times
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While watching a TV show last night, they said that both the penny and the nickel are worth more in metal than their value is in money. So I wonder about the economics of melting them and selling them as metals. Of course you would have to factor in the energy cost to melt them into metals but if the economics were right, why not?
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Old 07-07-2008, 11:10 AM
 
Location: PA
2,616 posts, read 4,160,111 times
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It is a fellony to destroy government property. Coins in your posession are still government property. It is probably similar to printing counterfiet bills. They are just ink and paper, but the government does not like you printing your own.
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Old 07-07-2008, 11:12 AM
 
14,048 posts, read 20,276,944 times
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Is that before or after serving your 5 year in the Atlanta Federal Pen? It's a federal offense to melt coinage or export coins to another country for melting.

But yeah, a nickel is worth about 6 cents, a penny is worty about 1.12 cents. You would need some high tech equipment to melt the metals, then expensive and dangerous chemicals or methods to seperate out the different metals in the coin.

I would say their is no return after factoring in the conversion process and cost to transport tons of coins and metals.
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Old 07-07-2008, 11:33 AM
 
Location: Texas
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so it's perfectly legit for the federal reserve to destroy money, but we the people cannot? There's nothing like waking up to the illusion of freedom but finding yourself living in chains to the federal bureaucracy. Wake up sheeple.
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Old 07-07-2008, 11:46 AM
 
14,048 posts, read 20,276,944 times
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Quote:
Originally Posted by TexianPatriot View Post
so it's perfectly legit for the federal reserve to destroy money, but we the people cannot? There's nothing like waking up to the illusion of freedom but finding yourself living in chains to the federal bureaucracy. Wake up sheeple.
Geez, time to go decaf. I don't exactly stay up at night worrying about my right to melt a nickel, nor do I worry that I have an FBI file because I put a penny under a train track when I was a kid. Their are more serious issues to worry about.

Hey, the supreme court ruled that those asinine city gun bans are unconsititutional just recently. Celebrate that big win, don't worry about the right to use a tin snip on a penny. I don't think "The Man" really cares, you know?
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Old 07-08-2008, 01:40 AM
 
3,460 posts, read 5,200,113 times
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Quote:
Originally Posted by Dd714 View Post
nor do I worry that I have an FBI file because I put a penny under a train track when I was a kid.
Now you do....
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Old 07-08-2008, 03:21 AM
 
655 posts, read 783,988 times
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Hmm,

When I was in Hawaii, they had this machine at the Dole Pinapple factory that cost a quarter to use. The machine would smash a penny and flatten it into a pineapple shaped coin. I guess this is a felony too? Destroying currency is a felony, I'm not sure about the penny though.
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Old 07-08-2008, 08:48 AM
 
Location: In The Outland
6,023 posts, read 12,601,269 times
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It is not against the law to deface coins unless the defacing is done with the intent to commit fraud. It is illegal to write on or deface paper money. I've been "defacing' coins for over 38 years. See pic link below.


Picasa Web Albums - Rick - Cut out coins
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Old 07-08-2008, 09:47 AM
 
3,269 posts, read 9,240,834 times
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Quote:
Originally Posted by Dd714 View Post
Is that before or after serving your 5 year in the Atlanta Federal Pen? It's a federal offense to melt coinage or export coins to another country for melting.

But yeah, a nickel is worth about 6 cents, a penny is worty about 1.12 cents. You would need some high tech equipment to melt the metals, then expensive and dangerous chemicals or methods to seperate out the different metals in the coin.

I would say their is no return after factoring in the conversion process and cost to transport tons of coins and metals.
Actually a penny (minted before 1982) is worth about 2.5 cents.
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Old 07-08-2008, 09:52 AM
 
Location: In The Outland
6,023 posts, read 12,601,269 times
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The later issue pennies are actually copper plated zinc coins. And I believe that our nickles are still 75% copper alloyed with nickel (Cupro-nicklel).
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