The U.S. Mint has implemented a law against melting one-cent pennies and five-cent nickels, which at current metals prices could be worth more as metal than as currency. The Mint has received many questions over the past several months regarding the metal value of the coins and the legality of melting them. “We are taking this action because the nation needs its coinage for commerce,” Mint Director Ed Moy said in a statement. “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.” The new regulations authorize a fine of up to $10,000 or imprisonment of up to five years, or both, against violators.
