Scrap prices

[kwebb70]

Does anyone know what scrap yards were paying for copper pennies preban? (The precentage of spot.)

[Klark Cent]

seems like i remember someone saying they paid whatever #2 scrap copper was going for, which was something like ... well i can't remember.

maybe 87% of spot or something like that. hopefully someone can give a better answer.

[PMLurker]

I don't know of any scrap yards buying copper pennies and I doubt there are any.

If the melt ban were lifted, a yard would buy them as #2 scrap copper (used copper pipes). You can look up the current #2 scrap copper prices online.

[HoardCopperByTheTon]

I was working a deal with one of our local metal places back before the ban and the price was the same as #2 copper. Of course they wanted proof that it was legal to melt or export them (this was back when it was) and the Federal Register was only scanned onto the net for the last 10 years, so the melt ban went into effect while I was trying to prove it was legal. The guy told me "I guess you were right all along, but we can't do it now." This is how I originally discovered RealCent and read about some guy that had developed a big red fantasy machine that could actually separate copper from zinc. C'mon, who would believe such a machine was possible?

[avidbrandy]

I was working a deal with one of our local metal places back before the ban and the price was the same as #2 copper. Of course they wanted proof that it was legal to melt or export them (this was back when it was) and the Federal Register was only scanned onto the net for the last 10 years, so the melt ban went into effect while I was trying to prove it was legal. The guy told me "I guess you were right all along, but we can't do it now." This is how I originally discovered RealCent and read about some guy that had developed a big red fantasy machine that could actually separate copper from zinc. C'mon, who would believe such a machine was possible?

Wow. I've just always assumed the melt ban was put in blace because of you and your volume. This is shocking to hear.

[willy13]

When did the melt ban go into effect?

[GTOJohn]

i thought i was 2006 -

[Klark Cent]

When did the melt ban go into effect?

In an attempt to avoid losing large quantities of circulating nickels to melting, the United States Mint had earlier introduced new interim rules on December 14, 2006 which criminalized the melting and export of cents and nickels. Violators of these rules can be punished with a fine of up to $10,000, five years imprisonment, or both.[67] See Title 31, United States Code Section 5111(d).[68] The rules were finalized on April 17, 2007.[69]