Re: Just bought my Ryedale Coin Penny Sorter
As for melting coins one must remember, NO scrap yard is going to pay full value for anything.
you will be lucky to get maybe half value or if your lucky more. Even if you cast them into bars you still have the problem of an "Unknown copper alloy" as pennies are not %100 copper. They would have to be refined unless your going to use them to make pennies. So you will get penalized on that one too.
Also few places in the US melt copper anymore, most of the demand is over seas. however you cant export more than $5 or $100 worth for collectibles.
Anyway you look at it, unless your looking for old coins for collectibles its not worth it to even try to melt them.
If one wants to recycle copper go to demolition sites and pull it out with permission. Construction sites etc. You can also get the benefit of Copper, Aluminum, iron etc and you dont have to worry about laws, And there is the potential for more than what one can order from a bank.
Anyway you look at it the volume, risk, work invested etc to melt pennies for copper is just not worth it.