What are the odds that melting pennies will become legal?

[transistor]

And what sort of time frame are you expecting?

[TXBullion]

i think the odds are around 100% , the uncertainty lies in the time frame. keep getting them pennies. the more time that passes, the more you should ramp up your buying sorting as the day is continually getting closer just not sure when.

[highroller4321]

2-4 years and I think the melt ban will lift and the penny will be gone.

[reddirtcoins]

I agree with 2-4.
I'm hoping for 20+ tons before it happens...

[transistor]

Can you imagine any sort of scenario that may cause your plans to backfire? Like a new law phasing out pennies, but also requiring you to turn in your old pennies for cash instead of allowing them to be melted?

[knibloe]

I can envision the gov trying to make us turn them in. However, I cannot see any legal way for them to enforce it.

If they do it, they will get the sheeple to turn them in and then afterwards, they will lift the ban.

[transistor]

Even if they didn't lift the ban, if you melted the coins yourself, is there really any way they could find out?

[Robarons]

One thing I find interesting is if I am the government- why should I ever lift the melt ban?

It doesnt benefit the government and there is no real push to lift melting pennies. Sure I can do away with pennies- but I still do not have to let the public be able to melt them.

The government my hand over a special permit or contact for alloy recovery like in Canada, but there is no real reason to lift the ban on said coins.

I think the ban was lifted on Silver Coinage to try to contain silver prices. Maybe if copper goes haywire, the govt might have some incentive to remove the ban

[everything]

I can't think of anything accelerating copper outside of a super green revolution, still most of the developed countries are broke for now, might have to be patient.

[transistor]

One thing I find interesting is if I am the government- why should I ever lift the melt ban?

It doesnt benefit the government and there is no real push to lift melting pennies. Sure I can do away with pennies- but I still do not have to let the public be able to melt them.

The government my hand over a special permit or contact for alloy recovery like in Canada, but there is no real reason to lift the ban on said coins.

I think the ban was lifted on Silver Coinage to try to contain silver prices. Maybe if copper goes haywire, the govt might have some incentive to remove the ban

Good point.

I'm sure melting coins will be viewed as unpatriotic, so I doubt the ban will ever be lifted.

[stonewallrabbitry]

I would guess you will be able to melt pennies in 2-4 years because the federal government will have collapsed by then

[TXBullion]

One thing I find interesting is if I am the government- why should I ever lift the melt ban?

It doesnt benefit the government and there is no real push to lift melting pennies. Sure I can do away with pennies- but I still do not have to let the public be able to melt them.

The government my hand over a special permit or contact for alloy recovery like in Canada, but there is no real reason to lift the ban on said coins.

I think the ban was lifted on Silver Coinage to try to contain silver prices. Maybe if copper goes haywire, the govt might have some incentive to remove the ban

Good point.

I'm sure melting coins will be viewed as unpatriotic, so I doubt the ban will ever be lifted.

Was lifted for silver coins

[Robarons]

It would be interesting to see the reasoning why they lifted the ban on silver coins. I have heard it was to 'contain' prices, as silver was increasing in price in that time period.

It seems odd that the government would say 'alright guys, go crazy' on silver coins in 1969(I believe). It seems like the government was in a position to do hold the ban and do what ever they wanted.

It would be interesting on if the Government was an active sorter of silver coinage during the transition to cupro- before and after the removal of coinage.
It feels like there is going to have to be a 'push' to lift the melt ban- even after a composition change or removal of the cent all together. This push either by private interest (jackson metals, etc) or by high copper prices that could be lowered by letting the ban go.

[Morsecode]

It's probably been said before, but I don't think they'll do one without the other. Nickels, that is.

Aside from that, they'll do whatever the mining lobby tells them.

[Tantalar]

You already can legally melt pennies. Congress has made no law that says it is illegal to do so. Correct me if I am wrong, but as far as I have seen, it was the US Mint that "says" its illegal. Now since they don't have the power to create laws, melting pennies is technically legal... Then again, we live in a lawless country where the powers that be do whatever they want and make up laws as they go along, completely ignoring the constitution.

[Lemon Thrower]

One thing I find interesting is if I am the government- why should I ever lift the melt ban?

It doesnt benefit the government and there is no real push to lift melting pennies. Sure I can do away with pennies- but I still do not have to let the public be able to melt them.

The government my hand over a special permit or contact for alloy recovery like in Canada, but there is no real reason to lift the ban on said coins.

I think the ban was lifted on Silver Coinage to try to contain silver prices. Maybe if copper goes haywire, the govt might have some incentive to remove the ban

i'm going to agree with you and disagree with you.

i agree that they don't lift the melt ban until after the penny is discontinued. after that point, technically you are right but i expect they won't care at that point.

[transistor]

You already can legally melt pennies. Congress has made no law that says it is illegal to do so. Correct me if I am wrong, but as far as I have seen, it was the US Mint that "says" its illegal. Now since they don't have the power to create laws, melting pennies is technically legal... Then again, we live in a lawless country where the powers that be do whatever they want and make up laws as they go along, completely ignoring the constitution.

This is what I found:

There is a Federal Law (e.g. language in the United States Code) - 31 U.S.C. 5111(d) - which "authorizes the Secretary of the Treasury to prohibit or limit the exportation, melting, or treatment of United States coins when the Secretary decides the prohibition or limitation is necessary to protect the coinage of the United States." (The US Mint is an agency of the Department of the Treasury.)

The US Mint's interim rule in December 2006, and their final rule in April 2007, which imposes penalties for exporting, melting, etc. certain quantities of US one and five cent coins, was issued pursuant to that Federal law.