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I've been holding onto every pre-1982 penny I come across, because I one day want to get 499 of them, and take them to Mexico or Canada to smelt them to use in

I've been holding onto every pre-1982 penny I come across, because I one day want to get 499 of them, and take them to Mexico or Canada to smelt them to use in some kind of art project. When we finally stop making pennies in the US, will that make it legal to melt them down?

Finnucane 2y ago
Probably not, Treasury doesn't 'demonetize' old issues. Generally speaking, any coin or bill issued by the Treasury department still officially has its face value and is legally money. But if you'd like, I've got a small bucket of 1943 steel pennies.
- dlcarrier 2y ago
  A whole bucket full? I'll trade you my zinc pennies for your steel ones.
Jeremy1026 2y ago
It's legal to melt them down now. You can't deface U.S. currency to try to make it look like it's higher value, or to shave small amounts of metal to combine with other coins shavings to the point that they have value. As per [1]: > 18 U.S. Code § 331 > Whoever fraudulently alters, defaces, mutilates, impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the mints of the United States, or any foreign coins which are by law made current or are in actual use or circulation as money within the United States; or The key word is "fraudulently", if you're doing it for art you're good. [1] https://www.law.cornell.edu/uscode/text/18/331#:~:text=§%20331-,18%20U.S.%20Code%20§%20331%20%2D%20Mutilation,diminution%2C%20and%20falsification%20of%20coins&text=Shall%20be%20fined%20under%20this,645%2C%2062%20Stat. https://www.law.cornell.edu/uscode/text/18/331#:~:text=§%203...
- Cpoll 2y ago
  Interesting, I always assumed it was covered by the same law that makes it illegal to burn bills (https://www.law.cornell.edu/uscode/text/18/333 https://www.law.cornell.edu/uscode/text/18/333), but apparently not.
  - lIl-IIIl 2y ago
    NPR's Planet Money podcast said that it is illegal to melt the pennies, and that there are a bunch of penny collectors waiting for the day it is legal. https://www.npr.org/transcripts/676247474 https://www.npr.org/transcripts/676247474

Finnucane 2y ago

Probably not, Treasury doesn't 'demonetize' old issues. Generally speaking, any coin or bill issued by the Treasury department still officially has its face value and is legally money. But if you'd like, I've got a small bucket of 1943 steel pennies.

dlcarrier 2y ago
A whole bucket full? I'll trade you my zinc pennies for your steel ones.

Jeremy1026 2y ago

It's legal to melt them down now. You can't deface U.S. currency to try to make it look like it's higher value, or to shave small amounts of metal to combine with other coins shavings to the point that they have value. As per [1]: > 18 U.S. Code § 331 > Whoever fraudulently alters, defaces, mutilates, impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the mints of the United States, or any foreign coins which are by law made current or are in actual use or circulation as money within the United States; or The key word is "fraudulently", if you're doing it for art you're good. [1] https://www.law.cornell.edu/uscode/text/18/331#:~:text=§%20331-,18%20U.S.%20Code%20§%20331%20%2D%20Mutilation,diminution%2C%20and%20falsification%20of%20coins&text=Shall%20be%20fined%20under%20this,645%2C%2062%20Stat. https://www.law.cornell.edu/uscode/text/18/331#:~:text=§%203...

Cpoll 2y ago
Interesting, I always assumed it was covered by the same law that makes it illegal to burn bills (https://www.law.cornell.edu/uscode/text/18/333 https://www.law.cornell.edu/uscode/text/18/333), but apparently not.
- lIl-IIIl 2y ago
  NPR's Planet Money podcast said that it is illegal to melt the pennies, and that there are a bunch of penny collectors waiting for the day it is legal. https://www.npr.org/transcripts/676247474 https://www.npr.org/transcripts/676247474