Clever Pseudonym
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I did. And I don't think it should be legal. It's still money, even if it is worth more melted down.
EDIT: God, you sound like one hell of a douchebag from those additional details you've posted. At this point I can think of a few more important questions:
1. Why do you care so much?
2. Have you forgotten to take your meds today?
3. Are you always this much of an a*s to people who try to help you? |
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Purpleink
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who melts pennies?
melting a penny is like.................throwing your penny on the ground and not picking it up.....its just another valueless, non vending machine taking, poop of copper lol! |
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WiseOwl
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Yes, it was recently made illegal in December 2006. This was in response to the continuing rise in metals prices.
The US Mint ironically says in their press release, ""We don't want to see our pennies and nickels melted down so a few individuals can take advantage of the American taxpayer."
What's ironic? The reason the price of copper, nickel, zinc, silver, gold, platinum and other commodities have reason is because of a certain organization (the privately owned bank called the Federal Reserve) printing massive amounts of dollars, and creating more out of thin air with every car loan, mortgage, and credit card transaction.
As more dollars are created, the cheaper they become, and the more expensive real stuff becomes.
The true meaning of inflation: Prices don't rise because things get expensive. Prices rise because your dollars are worth less. |
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LOVED BY PLENTY HATED BY SOME!!!
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wow i never knew this. i think because people don't care about melting pennies cause they probably don't even think about doing that. |
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Armus
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Yes I had heard about it and in my opinion it's time to retire the penny from service. Rep. Jim Kolbe actually introduced a bill that would do just that last year but I don't believe it got past the house. As of last July the cost of making an individual penny was actually up to 1.4 cents. Over half of the U.S. Mint's coin production comes in the form of pennies.*
In addition to the article I'm listing in my sources this: http://www.moneyweek.com/file/16282/what-a-penny-can-tell-us-about-inflation.html is also an interesting read.
In terms of it being illegal to travel abroad with more than 5.00 in pennies it strikes me as poor legislation if true. If such a law were passed there would need to be a number of protections built into it to protect businesses and persons not intending to melt the penny down (banks, retail establishments, collectors, etc.)
As to why so few people on Yahoo! Answers were aware of the rising cost of zinc/inflation and their effects on the treasury department's actions it probably comes down to interest. Many of the people using this service are younger and don't often keep tabs on domestic policy issues they don't see as effecting them (social security, medicare, etc.). This is too bad since disinterest in youth often leads to ignorance later in life. One of the greatest impediments to democratic system today seems to be ignorance and the apathy that supports it. |
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Billy A
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lol thats just funny! |
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booge
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i know copper is 2.50 per pound |
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?
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pennies made after 1982 are 95% zinc & 5% copper.. |
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Bill
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I know of no such thing. Please advise me of the section of the United States Code where your assertion can be verified. |
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oh.
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i never knew that.one of my science teachers melted a penny to show us what happens..so that's illegal?..pretti darn weird..i must say. |
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x3ballet
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i laugh |
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Loveme
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i would think its illegal becasue ur defacing government property so soemthing lol but i can see why if you melt them its worth more...that being illegal. I think it would be cool if it wasnt illegal but i think its logical to be illegal because it everyone started doing it it would be like loosing money for the US |
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Tigers Gal!
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i didnt know,,, |
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___________
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Wow. I didn't know that.
Well what's the point of this whole law.
IT's pointless. If you have the possession of a penny and it's YOURS then I think you can do whatever you want with it.
Even shove it up your own @ss if you need to. |
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kurticus1024
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not sure about the legality of it
its fun though, just get an old spoon, you can melt em on the stove, then mold them into any shape you want, the fumes may be slightly toxic, its very fun though |
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agold_12
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thats really stupid...its illegal in canada to tamper with Canadian Currency such a penny which is zinc and copper. When converted to U.S, it is worth 99.3 cents..If you melt it, It becomes 1.3 U.S or 1.4. CDN...It's pretty stupid. Ofcourse why would u melt a penny anways..a quarter maybe..but a penny? Are we that desperate.? |
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Mary
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umm it's always been illegal to deface any US currency. I think it should be that way....I mean you have enough money that your going to go and melt or burn it? That's beyond wrong, it's calky and you should be fined or prisioned! |
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Johnny Corndrink
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I mean this in a nice way. But why does this matter? There's a war on, with plans to ship another 25,000 over there soon. |
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Chicana
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Why would I wanna know this?????????? Only if I was thinking about melting pennies, but why would I do that????????? A pennie is worth a pennie worth to me and always will be.No more and no less. |
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CctbOh
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I never thought about melting pennies so why would I care if it was legal or not. |
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michinoku2001
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I am shocked and appalled. |
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sweet_thing_kay04
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Well that is not true.All money is against the law if u destroy it.http://answers.google.com/answers/threadview?id=426715 You need to get your facts straight cuz u are died wrong.Plus it has always been that way.You can be fined for destorying money...or go to jail up to 6 months. Okay Mr know it all read this..United States Code title 18 Crimes and Crimial part 1 crimes..Chapter 17 Coins and currency...It says what I just told u...So your still died wrong...Now I'm off to talk to someone that knows what their talking about. But good try.. |
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onesexysquirrel
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defacing all money is illegal. |
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imbrue001
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it is illegal to deface US currency |
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cheesey
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What has this world come to that you can only bring 500 pennies with you wherever you go!?!? That just seems... WRONG!!
!@#$ penny laws. |
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chuksteak
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Total Face Value: $1.00
Coin Type: 1909-1982 Lincoln Copper Cent
Copper Price: $4.4390 / pound
Zinc Price: $1.1245 / pound
Answer:
Total melt value is $2.93.
(Exact value is $2.92991816394. $2.89136818792 worth of copper, $0.0385499760178 of zinc.)
Statistics:
» There are 0.6514 pounds of copper and 0.0343 pounds of zinc in $1.00 face value of copper cent(s).
» A roll of copper cent(s) has 50 coins and is valued at $1.46 when copper is at $4.4390 / lb and zinc at $1.1245 / lb (exact value is $1.46495908197).
» The 1943 steel cent is not made of copper and should be excluded from the values calculated above.
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