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Melting Coins Now Illegal In the U.S.

Posted by kdawson on from the facing-meltdown dept.

A number of readers have noted the action by the U.S. Mint to outlaw the melting down or bulk export of coins. This has come about because the value of the precious metals contained in coins now exceeds their face value. The Mint would rather not have to replace pennies (at a cost of 1.73 cents per) or nickels (at 8.74 cents). The expectation is that Congress will mandate new compositions for some U.S. coins in 2007.

14 of 778 comments (clear)

  1. If this keeps up... by KingSkippus · · Score: 5, Funny

    If this keeps up, .002 cents really will = $.002

    (Sorry, but it had to be said...)

    1. Re:If this keeps up... by abe+ferlman · · Score: 5, Funny

      If I had a nickel for every time I heard that one...

      --
      microsoftword.mp3 - it doesn't care that they're not words...
    2. Re:If this keeps up... by dgatwood · · Score: 4, Funny

      .05 cents? Let us know when you've reached 20 and maybe somebody will send you a penny for your thoughts. :-D

      --

      Check out my sci-fi/humor trilogy at PatriotsBooks.

    3. Re:If this keeps up... by crlove · · Score: 5, Funny

      My bank account takes those little remainders and puts them into another account. It's just like taking pennies from the tray.

    4. Re:If this keeps up... by JakusMinimus · · Score: 4, Funny

      In what crazy world is the debtor able to punish the one that wanted to condom the debt? In what crazy world would one want to condom the debt ?
      --

      You can be an atheist and still not want to succumb to some weird cross-over sheep disease -- AC
  2. Paper? by Shadow+Wrought · · Score: 4, Funny

    Can I continue to light my cigars with hundreds?

    --
    If brevity is the soul of wit, then how does one explain Twitter?
  3. Intrinsic Value by Bastard+of+Subhumani · · Score: 4, Funny

    Dada21 will be along to spout something about precious metals, followed at 11 by a film.

    --
    Only three things are certain; death, taxes, and apocryphal quotations - Ben Franklin.
  4. My question by UbuntuDupe · · Score: 4, Funny

    Since they only penalty is a fine, can you pay the fine out of the money you made selling the metal from the melted down coins?

    --
    Apology to Ubuntu forum.
  5. Bah, I'm too busy anyways by TheWoozle · · Score: 4, Funny

    I'm too busy straining the gold out of seawater and reclaiming the platinum out of old catalytic converters to mess with melting down pennies and nickels...

    --
    Insisting on "correct" English is like saying that there is only one, definitive recipe for chili.
  6. Re:get rid of pennies altogether? by hey! · · Score: 4, Funny

    Why stop there?

    Why not get rid of nickles and dimes as well?

    And why we're at it, let's get rid of all paper currency, replacing it with coins in the following denominations: $1, $5, $20, $50. Then we can stop printing money to replace all those torn dollar bills.

    Think of the affect on crime. While you could carry a couple thousand dollars on your person if you really needed to, the drug kingpin who wants payment of a million in cash is going to need a forklift, not a suitcase. Similar issues of phyiscal inconvenience will deter counterfeiting.

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  7. Re:redundant posting? by Moofie · · Score: 5, Funny

    Sounds like somebody needs a hug. C'mere, big guy.

    --
    Why yes, I AM a rocket scientist!
  8. Another Solution by rlp · · Score: 5, Funny

    I always thought that the mint should make all coins out of radioactive waste. It would solve the problem of nuclear waste disposal. It would encourage consumers to spend money - quickly. This would help the economy. And it would definitely discourage hoarding of currency.

    --
    [Insert pithy quote here]
    1. Re:Another Solution by slashjames · · Score: 4, Funny

      Gives a whole new meaning to having money burning a hole in your pocket...

  9. Re:get rid of pennies altogether? by mfrank · · Score: 5, Funny

    You can't fold a dollar coin in half and stick it behind a G-string.