Can I Melt Down Coins for the Metal?
January 16th, 2012
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If you read my post about finding the melt value of junk silver coins, you probably wondered to yourself whether it was possible for you to melt the coins down yourself. Its definitely possible but its also illegal.
The Mint outlined new rules in 2006 that said it was illegal to melt coins, its illegal to export coins for melting, and you can carry up to $5 in pennies and nickels out of the country or ship $100 abroad for legitimate coinage and numismatic purposes. While pennies and nickels were explicitly called out in the 2006 rules, other coins were included as a result of previous rules.
What happens if you break it? The regulations authorize a fine of no more than $10,000 and/or up to five years in prison. Pretty stiff stuff.