5 Comments

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  Mike Delmont

  3 years ago

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  The statute you cite only applies to bank notes (paper money). The Federal Reserve issues banknotes while the US Mint issues coins.

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  Lisa Walter

  3 years ago

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  I know this story is a year old, but I have to tell you that making jewelry out of coins is not illegal in the USA.  It is only illegal if you change the coin and then try to market it as a coin.  I called the Philadelphia mint and talked to a woman who said that also applies to paper money....
  

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  Tom Mc

  5 years ago

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  But they don't want you melting down pennies and selling the copper and zinc because those raw materials are worth more than the pennies are worth.
  
  Typical government: create something that costs more to make than it is worth, then write a law to prevent people from capitalizing on the fiscal irresponsibility.

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  Scott

  5 years ago

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  What Joe said: Otherwise all the machines that squish your pennies into ovals with whatever kind of landmark you're visiting stamped into it would be equally guilty.

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  Joe

  5 years ago

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  Fear not, crafty DIYer's. The statement about the illegality as stated pertains to paper currency. There are Federal laws regarding the defacing of coins for the purposes of fraud, however there are exemptions for the use of coins in art. From e-how:
  
  Read more: http://www.ehow.com/info_7849191_defacing-money.html#ixzz2wQoAMXUs
  
  Federal statue 18 USC 331 states that "[w]hoever fraudulently alters, defaces, mutilates, impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the mints of the United States ... shall be fined under this title or imprisoned not more than five years, or both." The key word in this statute is "fraudulently." To sustain a criminal prosecution for defacing a coin, the prosecutor must prove an intent to defraud. An example of defacing with the intent to defraud is removing precious metal from a coin or changing the denomination of a coin.
  
  The Code of Federal Regulations (CFR) contains an obscure set of rules regarding nickels and pennies. Code 31 CFR 82.1 states, "Except as specifically authorized by the Secretary of the Treasury (or designee) or as otherwise provided in this part, no person shall export, melt, or treat: (a) Any 5-cent coin of the United States; or (b) Any 1-cent coin of the United States." However, the next section, 31 CFR 82.2, specifically allows that the "prohibition contained in §82.1 against the treatment of 5-cent coins and 1-cent coins shall not apply to the treatment of these coins for educational, amusement, novelty, jewelry, and similar purposes as long as ... the treatment makes it clear that such treatment is not intended as a means by which to profit solely from the value of the metal content of the coins." Read together, the defacement of coins for artistic and entertainment is not illegal as long as the intent is clear and the consumer is not misled.
  
  
  
  

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