Coin metal is worth more than the face value
Those pennies and nickels you have rolling around the floor of your car, stuffed between the couch cushions, and collection atop the washing machine as you find them during laundry are no worth their weight. The US Mint is now imposing a penalty on anyone who melts down the coin metal for other uses.
Given rising metal prices, the pennies and nickels in your pocket are worth more melted down than their face value — and that has the government worried. U.S. Mint officials said Wednesday they were putting into place rules prohibiting the melting down of 1-cent and 5-cent coins, with a penalty of up to five years in prison and a fine of up to $10,000 for people convicted of violating the rule.
I know we’ve covered this topic before, but discovering that there is now a five year penalty on top of fines up to $10,000 is crazy. All of you out there melting down their pennies to make nice BB’s be warned, Uncle Sam does not like you melting down coins.
Be like me, use the coins to make those wobbly desks or chairs even. Jam a few under the table or chair legs and you’re set. Guaranteed.
