Wednesday, December 13, 2006
Melting coins is now super-illegal
Thinking of getting rich by melting down pennies and nickels to take advantage of higher metal prices? Think again -- Uncle Sucker's got a new law and will put you in jail if you get caught at the crucible.
There have been no specific reports of people melting coins for the metal, Mint spokeswoman Becky Bailey says. But the agency has received a number of questions in recent months from the public about the legality of melting the coins, and officials have heard some anecdotal reports of companies considering selling the metal from pennies and nickels, she says.Huh -- never thought of melting a coin for profit. Until now. Sounds intriguing. I smell a business model.Under the new rules, it is illegal to melt pennies and nickels. It is also illegal to export the coins for melting. Travelers may legally carry up to $5 in 1- and 5-cent coins out of the USA or ship $100 of the coins abroad "for legitimate coinage and numismatic purposes."
posted by Cory Doctorow at 09:25:08 PM permalink | Other blogs' comments
