#1653104 - 01/19/12 06:59 PM
Re: SAR- pennies
Anonymous
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10K Club
Joined: Jul 2001
Posts: 84,335
Galveston, TX
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A New Law Makes it Illegal to Melt Down Pennies and Nickels
From Susan Headley, About.com Guide December 14, 2006
The U.S. Mint has announced that a new regulation, effective immediately, makes it illegal to melt down U.S. Cent and Nickel coins. Due to sharply rising metal prices, the U.S. Cent (99.2% zinc and 0.8% copper core, plated with 100% copper) has a current melt value of 1.12 cents per coin. The nickel, (75% copper and 25% nickel) has a melt value of a hefty 6.99 cents per coin!
Important Features of the New Regulation: •Travelers leaving the U.S. are limited to taking $5.00 worth of pennies and nickels out of the country.
•No more than $100.00 worth of pennies and nickels can be shipped out of the U.S. in any one shipment, and those only for "legitimate coinage and numismatic purposes."
•Penalties for violation include fines up to $10,000 and 5 years in prison, plus forfeiture of the melted, shipped, or treated material.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com
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