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Comment by Brendinooo | Hacker News Reader

The melt value of a copper penny (1982 or prior) is worth more than the face value. However, it's illegal to melt down legal tender currency. AND, fun fact, it's illegal to leave the US with more than $5 worth of pennies, so you can't drive to Canada with a bag of pennies and melt them there.

So some people are now starting to hoard copper pennies, waiting for the day when pennies are no longer legal tender, and then...they'll make a modest profit, I guess.

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In case anyone else is curious, apparently a pre-1982 penny could be worth about 1.8 cents when melted down:

http://www.coinflation.com/coins/1909-1982-Lincoln-Cent-Penn...

The thing is melting it costs money too. Also most pennies have other metals mixed in for durability. Usually zinc. So to get the copper value you have to get those other metals out. That also costs money. Most places that recycle metals do not take pennies for melt value. They usually just do not want to mess with it. I would estimate it would have to be closer to 4-5 cents per penny before it would be profitable. But that is just a guess.

> it's illegal to leave the US with more than $5 worth of pennies, so you can't drive to Canada with a bag of pennies and melt them there.

What law would that violate?

https://twitter.com/crimeaday/status/739973139539632128

"31 USC §5111(d)(2), 31 CFR §82.1(b) & 82.2(a)(2) make it a federal crime to leave the US with more than $25 worth of pennies in your pocket."

Most of that is about penalties but 31 CFR §82.2(a) has the $5 and $25 rules: https://www.law.cornell.edu/cfr/text/31/82.2

(I just guessed A Crime A Day had tweeted about this, US law seems to be mostly legacy code...)

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