A Penny is Now Worth 1.73 Cents

NukeWorker · #1 (**permalink**) 12-14-2006, 01:47 PM

because of the rising cost of copper. So now the government is making it a crime to melt pennies

http://www.abcnews.go.com/Business/s...2725597&page=1

NukeWorker · #2 (**permalink**) 12-15-2006, 08:57 AM

Looking back over this year I think almost everybody in the demolition business can say (to steal the phrase from the infamous Chico Escuela)

"Copper has bin berra berra good to me"

**James** · #3 (**permalink**) 12-18-2006, 07:09 AM

Quote:

To avoid this costly coin shortage, the new regulations prohibit the melting or treatment of all 1- and 5-cent U.S. coins.

The rules also prohibit the unlicensed exportation of these coins, except that travelers may take up to $5 in pennies and nickels out of the country, and individuals may ship up to $100 in these coins.

Violators of these new regulations face up to a $10,000 fine, imprisonment of up to five years, or both.

I can't remember the last time I carried around 5.00 worth of pennies out of the country.

What is more, it cost more to produce a penny than the penny is worth.