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I am not sure if I remember reading this, but can anyone remember if the melt ban only Applies to 1959-Current Cents or to all cents?
I think I read something like you cannot, but that was back in 2007 at the old forum.

Had some crazy guy rambling about melting wheats because its a 'design change' and hence does not apply to melting. Sounds wrong, but hey he might be right. He proceeded to say melting Buffalo Nickels is okay too. I guess if copper goes to $8/pound and the Govt refuses to lift said ban than wheats loop hole might be attractive.

Thoughts?

http://www.usmint.gov/consumer/index.cf ... Regulation

Download the pdf from the link at the bottom of the page.

Any US made penny is illegal to melt

Alright thanks for clearing that up. With so much misinformation out there it made me question my knowledge.

Plus common wheats are worth more to collectors then melt.

That is true, but if some reason goes to $8/pound or some crazy amount and the govt still refused to lift the ban it would be worthwhile to do so.

But you cant it seems anyways. Its kinda like melting 1938 and 1939 King George Nickels- dont wanna do it but the melt for a while surpassed its collect-ability.

Robarons wrote:I am not sure if I remember reading this, but can anyone remember if the melt ban only Applies to 1959-Current Cents or to all cents?
I think I read something like you cannot, but that was back in 2007 at the old forum.

Had some crazy guy rambling about melting wheats because its a 'design change' and hence does not apply to melting. Sounds wrong, but hey he might be right. He proceeded to say melting Buffalo Nickels is okay too. I guess if copper goes to $8/pound and the Govt refuses to lift said ban than wheats loop hole might be attractive.

Thoughts?

It'll cut down those "OMGINDIAN/1909 VDB LINCOLN ON ENDZ" auction on eBay......melt down the common stuff abit.....

Might have an interesting effect- when the melts do occur and at prices to overtake wheats (3-4 cents for the common ones) you may see certain dates rise in value over time, kinda like the 90% silver melts.

I would imagine that the price of wheat cents would intentionally go over the melt price. I just can't see any coin shops or dealers sending in their wheat cents to be melted. It would be a shame if they did. A dealer wouldn't send it in, but I could see a dumb, uneducated customer sending in their better-date wheat cents to the scrap yard. That would be a sad day.

cesariojpn wrote:

Robarons wrote:I am not sure if I remember reading this, but can anyone remember if the melt ban only Applies to 1959-Current Cents or to all cents?
I think I read something like you cannot, but that was back in 2007 at the old forum.

Had some crazy guy rambling about melting wheats because its a 'design change' and hence does not apply to melting. Sounds wrong, but hey he might be right. He proceeded to say melting Buffalo Nickels is okay too. I guess if copper goes to $8/pound and the Govt refuses to lift said ban than wheats loop hole might be attractive.

Thoughts?

It'll cut down those "OMGINDIAN/1909 VDB LINCOLN ON ENDZ" auction on eBay......melt down the common stuff abit.....

Can you? .. Yes
Should you? .. No
Is it legal? .. No