canadian pennies

[bgretz1989]

i was wondering if it was legal or not to melt down canadian pennies in the US?

[jasmatk]

it is not against US law to melt any foreign coin.but why would you want to?

[Economist]

I'm guessing to sell it for scrap copper w/o raising eyebrows at the scrap dealer?

I was considering the same thing myself, but maybe should ask around here if US scrap yards will take those high-purity Canada cents as is?

[jasmatk]

if you were thinking of melting to scrap them just sell them as is becouse its not worth it to melt them the yard is going to pay less and your not going to get full spot price anyway and im not 100% sure but they will probly only pay red brass price for pennies.

[tbram88]

To be worth it I think you would have to refine out the zinc to make it .999
I wonder if Market Harmony knows how to do that?
I was thinking about it too, with 1# bars selling for $10.00 and all.

All the best...Bob.

[didou]

That would be a very interesting thing to see. I would like to know in what categories they put the Canadian cents and how much scrap yards are willing to pay for them compared to the spot price. I though about selling a box of U.S. penny to a scrap yard here in Canada to try to determine these data. It may affect how much everyone is selling their penny for.

but as jasmatk said, the're is no point in melting a large quantity right now, maybe even not in the future are the copper price rise. Only the classification and the price paid compared to spot price would be interesting to know imo