When I read this, it makes me feel sick. You should feel it too. Unless of course, you like the Treasury department telling you what you can and can't do with YOUR money!! Who do these people think they are anyway?
December 14, 2006
United States Mint Moves to Limit Exportation & Melting of Coins
Interim Rule Goes Into Effect Immediately
WASHINGTON — The United States Mint has implemented regulations to limit the exportation, melting, or treatment of one-cent (penny) and 5-cent (nickel) United States coins, to safeguard against a potential shortage of these coins in circulation. The United States Mint is soliciting public comment on the interim rule, which is being published in the Federal Register.
Prevailing prices of copper, nickel and zinc have caused the production costs of pennies and nickels to significantly exceed their respective face values. The United States Mint also has received a steady flow of inquiries from the public over the past several months concerning the metal value of these coins and whether it is legal to melt them.
"We are taking this action because the Nation needs its coinage for commerce," said Director Ed Moy. "We don't want to see our pennies and nickels melted down so a few individuals can take advantage of the American taxpayer. Replacing these coins would be an enormous cost to taxpayers." (Read the rest of the story here)