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When copper reached a record high in February 2011, [46] the melt value of a 95% copper cent was more than three times its face value. As of January 21, 2014, a pre-1982 cent contained 2.203 cents' worth of copper and zinc, making it an attractive target for melting by people wanting to sell the metals for profit.
Zinc can cause anemia or gastric ulceration in babies that inadvertently ingest pennies made after 1982. A single penny can kill a pet. [29] Also, the mining of zinc and copper causes toxic pollution and is especially undesirable when considering the valuable metals being used to produce a coin with little utility. [citation needed]
After 1970, Kennedy half dollars were made of the same copper-nickel alloy as the other denominations. The last 90% silver circulated coins are dated 1964, [7] though they were actually minted for several years later dated as 1964. In 1982, the penny had most of its copper content removed, and is now made primarily of zinc, with a thin copper ...
Made of 95% copper and 5% tin and zinc alloy, it sold for $1.7 million in 2010 but is valued at $2.3 million in mint uncirculated condition. More recently, it went for $840,000 at an auction.
The Coinage Act of 1857 (Act of Feb. 21, 1857, Chap. 56, 34th Cong., Sess. III, 11 Stat. 163) was an act of the United States Congress which ended the status of foreign coins as legal tender, repealing all acts "authorizing the currency of foreign gold or silver coins". Specific coins would be exchanged at the Treasury and re-coined. The act is ...
The U.S. Mint initially made pennies out of pure copper, but starting in 1943 they were manufactured out of zinc-covered steel because copper was needed during World War II. Starting in 1982, the ...
As a result, with only a few wartime exceptions, any penny from 1981 or earlier -- and some made in 1982 -- have a high copper content. At current copper prices, the melt value of older pennies is ...
The law prior to 1965 made it a felony to forge silver coins; this was amended by section 211 to forbid the counterfeiting of coins with denomination greater than five cents. [67] Section 212 made using coins as security for loans a misdemeanor if the secretary has made a proclamation in the Federal Register proscribing their use as collateral ...