Many online discussions have addressed whether melting U.S. coins is legal. This article stated that melting, destroying, or modifying U.S. coins within the United States was not illegal. It also noted that, as with any legal question, important details should be considered before choosing to melt coins.
Pennies and Nickels
Pennies and nickels contain copper, zinc, and other metals with monetary value. The article stated that melting those metals solely to sell them to local or offshore metal-scrap industries was illegal. It explained that selling large quantities of melted nickels would make replacement costly for the government over time. To help prevent that outcome, it was illegal to remove more than $5 worth of pennies and nickels from the United States. Coin-pressing machines commonly seen at amusement parks and festivals were described as legal because the activity did not create profit. Melting pennies or nickels for jewelry, including rings or necklaces, was also described as legal because it was a creative use rather than a business practice.
Gold and Silver Coins
The article said gold and silver coins followed the same legal pattern as pennies and nickels. Selling melted metal for profit was described as illegal, while coin pressing and creative uses such as making jewelry were described as legal. Gold and silver coins were said to circulate less often than pennies and nickels, with low demand for them.
Foreign Currency
For foreign currency, the article explained that each country’s laws governed coin sales and distribution. It gave Canada as an example, stating that melting silver coins there was illegal. However, once a coin was exported, the article said there was no jurisdiction from Canada to prevent modification in America. It suggested avoiding bringing a large amount of foreign coin currency back into the United States, while noting that legal trouble was usually unlikely.
Generally, even where melting coins was legal, the article recommended refraining from it. Its main reason was that coins, including damaged or defaced examples, remain recognizable in their original form. That recognition allows people to identify purity, actual gold and silver weight, and estimated coin value. Once coins are melted, metal purity cannot be known unless the material has been refined and stamped by a refinery, which the article noted may be costly.
When this article was originally published, Atlanta Gold & Coin Buyers stated that it could help people looking to sell rare or other coins. It described itself as a leading rare-coin dealer in Metro Atlanta and said it provided an educated, transparent basis for appraisals. At publication, readers were invited to Contact us at 404-236-9744 to begin. The original article reported that the business was open to the public again; for readers unable to meet in person because of COVID-19, it said they could schedule an online appointment.
