Penny Mutilations?

[gsmeiers]

I'm sure everyone has seen those machines where you insert a shiny penny and 2 quarters, crank the wheel, and outcomes a penny in the shape, now transformed, into a souvenir token...

What are the laws concerning this? I thought mutilation of US Currency was a federal offense.

Just curious!

Garrett

 

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[jeff of pa]

I was told by my bank, pennies are NOT technically considerd U.S. Currency

 

[Doug-Iowa]

Currency is paper money. I don't believe the law applies to coins. This is why you see jewelry stores with coins that have been altered with jewlery saws and such and no one goes to jail.

Doug-Iowa
DJs Detectors

 

[stoney56]

Actually paper currency is just a promissary note from our gov. promising that it is worth the equivalency of gold/silver and the gov. is asking your faith in the system.

 

[histoplasmosis]

The machine at the park doesn't give you your penny back sorry to say. They just mutilate some type of metallic blank and output that. That way they make money i.e. the coin you put in. Other wise the machine would not be making any money for the company that has it.

 

[gsmeiers]

Who's in favor of getting rid of paper money, and just using Gold?!?!?

 

[paratrooper]

It is my understanding that it IS against the law to mutilate US money accompanied by a statement of disrespect . You can burn a dollar bill and be safe . Burn it and STATE that you are doing this to show disrespect or distain for the Gubmint issuing that currency and you have a problem . I would have to say that this is waaaaayyyy down on the "break the law" food chain .

 

[lab rat]

There is nothing illegal about mutilating a penny. What IS illegal is passing something as genuine money with real value which is not real, or diminishing the value of your money and passing it for full value in some way so as to make a profit.

If you cut a penny in half, take it to the bank and get a full penny for it, and take the other half to another bank to get a full penny for it, you (in theory) would get $.02 at a cost to yourself of only $.01. THIS is what is illegal. Taking a punched slug (such as out of an electrical box) and passing it as a nickel (for a profit to yourself of $.05) is also illegal. But you can drill a hole in a coin and keep it in your pocket as a good luck piece, or make jewelry out of it and there isn't anything illegal about doing those things because you aren't making a profit.

 

[gsmeiers]

I've heard of this...

But I believe if you take a half of a bill to a bank, they measure it and only replace it if you have MORE than 50% of the original bill. Say.. 51%.. The person with the 49% half, wouldn't be able to cash it in.

Never thought about a coin.

Garrett