Possible Melt Ban Reversal on pennies

[Ryedale]

Ohio Congressman trying to get the melt ban reversed on pennies

http://www.usatoday.com/news/washington/2007-10-31-pennies_N.htm?csp=34

 

[enamel7]

Won't happen. This guy is a crook and liberal (same thing I guess). Only trying to make money for himself. Oh boy, this would put 30 whole people back to work!

 

[bobr]

Crazier things have passed in congress. Write your Representative and let him/her know what you think of this idea.

 

[gold fish]

Won't happen. This guy is a crook and liberal (same thing I guess). Only trying to make money for himself. Oh boy, this would put 30 whole people back to work!

Actually, if you think about it, the reversal would make money for anyone smart enough to take advantage of the situation. If you then paid taxes on that income, it would be a better plan all around.

 

[fiatboy]

Thanks for the post, Rydale. If nothing else, it's a push in the right direction.

 

[ivan salis]

oh their not going to lift the melt ban on copper coins because their not going to let joe everyman get in on a good deal (because you could easily double your money by melting copper cents for their copper value the more you melt the more you make)----because one day they will say turn in your cents --- for worthless paper or even worse zinc dollar coins -- then after getting 100 good copper cents per useless dollar in exchange the govt will melt them getting $2.00 worth of copper per $1 turned in -- thus "doubling" its money right away in the process only the rich and powerful will get to profit off this "inside" deal -- watch and see --

don't laugh in 1933 the US Govt (under FDR) passed a law "making" gold illegal to own --- all US gold coins were to be turned in to the govt and exchanged for "paper" silver notes --- a $20 gold piece was 1 oz of gold ---gold was worth $35 a oz ---the Govt gave $20 worth of silver notes in exchange which could be redeemed for $20 worth of silver -- thus you in effect got $20 worth of silver for $35 bucks of gold --(losing $15 in value in the process) it was one of the greatest "legal" robberie's in history -- thankfully it was much later repealed (thats why we americans can own gold coins now)--- Ivan