coin cutter

[workin for wood]

I like the article about the coin cutting and the little jig, and I don't want to be any kind of downer, but isn't cutting a coin the same as defacing public property, or something to that effect?
I hope you don't take me wrong on this, because it's pretty cool, and I would do it, but I'm not so sure that's legal. or maybe it is?

[Gill]

According to this discussion, Jeff, it's legal.



Gill

[Shannon]

Hi Jeff,

That question has come up before and I forget the exact reasoning or wording - but it was something to the effect of - if you are not doing it for malicious purposes, it's okay - I'll ask Bob to see if he can find the official standpoint on it.... Just think of all those machines that turn your penny into a souvenir at amusement parks...

I was at a craft show recently where there were selling jewelry made from coins - they were just beautiful. Out of my budget - but beautiful...

[workin for wood]

I missed that thread...thanx Gill. I hope it's accurate, and would figure it probably is ok, or why would it be published in the magazine. go figure...learn something new every day.
Time to raid the kids piggy banks ?

[Shannon]

Well if your kids are like mine - they have every nickel and dime accounted for - you better check the couch cushions instead!

[Green Frog]

coin

washing maching is good place here so my wife tells me lol typing errors please excuse finger and mortise bit kiss yesterday lol not enough to stop the saw just one big bandage lol

[BobD]

The law refers to fraudaulent (SP?) defacing of currency.

But to be perfectly honest, that applies to paper money (which you technically don't own since it is a government document).

Since the value of coins, technically, is because of the "precious" metal they are made of, according to the federal government, you own the coins. The paper money, which is a government document, you use...

Does that make sense?

Bob

[MinotBob]

I believe that it's only illegal if you try to pass it off as a coin after it is defaced.

[Green Frog]

coin cutting

The secret service in Omaha has a different opinion of the rules to coin cutting.Told me Friday it is against the law and they will prosecute the person if they catch them .So guess it is your dice roll. Me tell i hear different I'll take a rain check

[PuzzledMoose]

I've got a stash of foreign coins here to play with - mainly European ones that predate the Euro and are no longer legal tender so I guess I'll be safe from the Omaha secret service ....

[BobD]

Green Frog,
Here's a link right to the secret service website...

http://www.secretservice.gov/money_law.shtml

And here's another one:

http://www.law.cornell.edu/uscode/18...1----000-.html

Fraudulant is the operative word here!!!

Bob

[Grizz]

http://www.coinbooks.org/esylum_v09n36a25.html

The E-Sylum: Volume 9, Number 36, September 3, 2006, Article 25

U.S. COIN MUTILATION LAWS

Regarding the question on U.S. coin mutilation laws, Katie Jaeger
writes: "I researched the topic recently - and came up with the
following quotation from Title 18 at the website straightdope.com:

Title 18, Section 331 states, “Whoever fraudulently alters,
defaces, mutilates, impairs, diminishes, falsifies, scales, or
lightens any of the coins coined at the mints of the United States,
or any foreign coins which are by law made current or are in actual
use or circulation as money within the United States, shall be fined
under this title or imprisoned not more than five years, or both.”
This law enacted in 1909 was strictly enforced at first, bringing an
abrupt end to countermarking, elongating, carving, cutting away blank
fields, and pushing out reliefs on coins.

The Treasury Department, however, has come to view the decree as
hinging on its second word: fraudulently. Examples of fraudulent
tampering are the ancient practice of shaving metal off the edges
of solid gold coins, or the 1883 practice of making “racketeer
nickels.” (When the Mint issued a nickel design which did not bear
the words FIVE CENTS on the reverse, but instead employed a Roman
numeral V just like the one on the $5 gold piece, some miscreants
plated gold on their nickels and passed them as $5 pieces.)

Section 331 takes aim at these types of deceptions, but not at the
creation of coin novelties. The law was probably responsible for
the practice of stickering and capping coins, which enabled
advertising on coins without altering them. Elongated roller
machines did disappear for a while, but the law never stopped
kids from putting pennies on the railroad tracks!"

John and Nancy Wilson write: "Here is information from the
Wikipedia on the legality of making elongated coins in the U.S.
and Great Britain:

"The process of creating elongated coins is legal in the United
States, Japan, South Africa and parts of Europe. In the United
States, U.S. Code Title 18, Chapter 17, Section 331 prohibits
"the mutilation, diminution and falsification of United States
coinage." The foregoing statute, however, does not prohibit the
mutilation of coins if the mutilated coins are not used fraudulently,
i.e., with the intention of creating counterfeit coinage. Because
elongated coins are made mainly as souvenirs, mutilation for this
purpose is legal.

It is no longer illegal in Great Britain to mutilate the image
of the Queen, It is still illegal in Canada and blank planchets,
slugs or U.S. pennies are occasionally used, though this law is
often ignored both by the users of the machine and law enforcement.
Full Story

Kerry Rodgers writes: "I have an article on elongated coins in
the September issue of Coin News. (That's the UK fella). I have
specific quotes from the Royal Mint and UK Treasury folk as to its
legality. These quotes came from bureaucrats and lawyers - need
I say more? They neatly avoid saying making stretchies is illegal
- in so many words - but make it clear they don't approve. They
have never prosecuted for it and thereby tested the law as they
understand it.

In the EU it is a whole different ball game and even though
stretched EU cents are offered on eBay and elsewhere, it is a
no-no. As the UK is part of the EU it could be illegal to squish
EU cents in the UK, where they have no currency, whereas doing it
to UK money itself may not be illegal if you have a smart lawyer.
What was that about the law being an ***?

The elongation issue in the US has been discussed at length in
several places and I defer to my North American colleagues. It is
not illegal from what I can gather. Nor is it in New Zealand since
a change in the law sometime back overlooked deforming coins although
it has some harsh things to say about melting them. A similar
situation exists in Australia."

Wayne Homren, Editor

[BobD]

Ya beat me, Grizz...
I was looking at the same thing <GRIN>

Bob

[CanadianScroller]

I find the coin cutting idea very intriguing.
While travelling on BC Ferries last year I saw a vendor at a craft booth selling cut coins.

He took the Canadian Nickel cutting around the beaver and leaving the date in tact.
He put a chain on the nickel and called it the birthday coin.

Each one sold for $10.
That is a good profit margin from a raw material point of view
Not fraudulent, but an excellent return on his investment.

I have also seen earrings done this way.
There is also a website where someone has cut a coin in two like a puzzle and put each piece on its own chain http://www.allensinc.com/jewelry/cutout/inlove.htm

I am looking forward to trying my hand at cutting a few

[PuzzledMoose]

Is it just me or does anyone else think it's a little bizarre that a SECRET service has a website?

Remnds me of a sign that's somewhere in the UK that shows directions to "Top Secret Nuclear Bunker"...