New buffalo nickels recalled

Slime Lowlife wrote:
In article , Merlin Dorfman
wrote:

Slime Lowlife wrote:

...

With silver, it was more like you said; most of it remained in private
hands, either in hoards or sent to the smelter. The Feds made it a
crime to melt down US coins,

When? Cite, please.

According to an article in the May 30, 2006 issue of "Numismatic News"
("Law allows for coin melt ban" by David L. Ganz, p.4), the Secretary
of the Treasury has the authority to ban the melting of coins, derived
from Part 94 of Title 31 of the Code of Federal Regulations. This
seems to have come about from WWI-era legislation which gave the
Executive Branch authority to regulate the use of gold & silver in
international commerce. FDR seems to have reimposed these regulations
as part of his gold recall, & it was also used to formally ban the
melting of silver coin in the 1960s (the 1965 Coin Act was the specific
legislative authority in this case).

The Treasury last imposed a ban on the melting of coins in May of 1974,
when a spike in copper prices seemed to herald the end of the
copper-based cent. These regulations were withdrawn in 1978.

So it would appear that while it is not illegal NOW to hoard & melt
down all the copper pennies you can, the Treasury has the authority to
ban any such activity.

I tried searching online for 31 CFR 94, & found the official site where
the Code of Federal Regulations has been posted online for the past few
years (http://www.gpoaccess.gov/nara/index.html). It doesn't seem that
part 94 of this Title has been updated recently, though, so I couldn't
find that specific item there.

Thanks. I didn't realize that a regulation of this type had been
issued in 1974. Of course, unless you can catch someone in the act, it
is difficult to prove where a bunch of molten metal came from.

On 29 May 2006 18:26:31 -0700, wrote:

That's funny, but if it were true, then why would they recall them when
they should know you can't offend a degenerate society like this one?

de·gen·er·ate
adj.

1. Having declined, as in function or nature, from a former or
original state

Should us degenerates be offended by the sight of NAKED beasts?
I suggest that anyone offended by a naked beast is a degenerate.
For that matter, anyone offended by human nakedness is a degenerate.

In article , Merlin Dorfman
wrote:

Slime Lowlife wrote:
In article , Merlin Dorfman
wrote:

(snip of stuff here)

Thanks. I didn't realize that a regulation of this type had been
issued in 1974. Of course, unless you can catch someone in the act, it
is difficult to prove where a bunch of molten metal came from.

Forf something like copper or nickel or zinc, you'd probably need to
melt down metal by the ton to really make it profitable, & in that
case, it probably becomes obvious that the new source of copper scrap
in town is also the gang of people who're buying up pennies & nickels
at all the banks.