I have been saving the rotten zinc pennies for a few years. I recently talked my bank into buying them from me by weight (18 pounds of them). They in turn sent them back to a Federal Reserve bank. A couple weeks later, the Fed sent them back, didn't want them. (Yes, I had to repay the bank). I even went to my local recycler to sell them as scrap zinc. No luck. Has anyone found a use for these pieces of junk other than a boat anchor?
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Zinc pennies
- Thread starter budster
- Start date
Huh ? The fed reserve HAS to take them. That's what they advertise as taking in. Damaged money (like in fires, floods, etc...), they have always, to my knowledge, converted the coins or bills back for real money . Provided you pay the postage I guess.
I heard of guys using those one-size-fits-all prepaid boxes, where no matter how heavy the box is, it still ships for the same cost ($7 or whatever). And the load it up with pounds and pounds of zinc that are too rotten to spend, and too rotten (zitted) to roll. And they get back a check in the mail that more than pays for their postage to send it in.
To me the profit (after postage) doesn't seem worth it. But they figure if they're just gonna throw them away, they might as well get something back. And to my knowledge, the Fed. reserve has never declined to take .
Here is their policy statement. Scroll to the bottom for the section referring to coins:
https://www.frbservices.org/operations/currency/mutilated_currency_and_coin.html
As you can see the coins can't be A) "bent" (I dunno why they'd disclude that) and B) must be recognizable.
So were your zincs SO bad that they weren't even "recognizable" ?
I heard of guys using those one-size-fits-all prepaid boxes, where no matter how heavy the box is, it still ships for the same cost ($7 or whatever). And the load it up with pounds and pounds of zinc that are too rotten to spend, and too rotten (zitted) to roll. And they get back a check in the mail that more than pays for their postage to send it in.
To me the profit (after postage) doesn't seem worth it. But they figure if they're just gonna throw them away, they might as well get something back. And to my knowledge, the Fed. reserve has never declined to take .
Here is their policy statement. Scroll to the bottom for the section referring to coins:
https://www.frbservices.org/operations/currency/mutilated_currency_and_coin.html
As you can see the coins can't be A) "bent" (I dunno why they'd disclude that) and B) must be recognizable.
So were your zincs SO bad that they weren't even "recognizable" ?
asiandigger
New member
I found out from detecting buddies that this is true, upfront they don't take crusty zincs, they don't even take dirty clads that hasn't been clean.
I was under the impression that the Federal Mint would take them in any shape (by weight) but the Federal Reserve was under no obligation. And yes, most were really rotten. Zinc pennies in acid dirt, especially under pine trees really get eaten up fast. I've found some 2017's that were already useless. I might try mailing them to the Federal Mint.
sprchng
Well-known member
I dig alot of them , run them through the tumbler for a couple of hours with the coppers and then separate them from the copper. When I get a 3# coffee can full I take it to Wal-mart and dump it through the Coinstar,,,,,most of them will go even if largely corroded. I think it was 8 or 9% fee last time for a cash receipt. Who cares , $23 to $25 bucks. Leave the rejects in the coin return slot and some one will collect them and take them through the register or put them in the empty can and trash them.
CopyTech99
New member
I had read they stopped taking them.
I found it easier to just not dig the zinc signals unless I am in an area that I know would or could produce an Indian head cent . If I do happen to dig a Zinc cent I have a special way of getting rid of them I load them up in Plastic Easter eggs and bury them in Local parks helps slow down those other guys
sprchng
Well-known member
BarryL said:I found it easier to just not dig the zinc signals unless I am in an area that I know would or could produce an Indian head cent . If I do happen to dig a Zinc cent I have a special way of getting rid of them I load them up in Plastic Easter eggs and bury them in Local parks helps slow down those other guys
The zincs of today are becoming the pull tabs of yesterday because so many leave them behind. I dig them for the first 30 to 45 minutes every time I go out just to try and cut them down some. Today a solid 12-37 on my CTX turned into a 12 gram silver bracelet
Building good karma is a good policy.Flintstone
Well-known member
Hi Tom, I have sent in bad pennies and they took them. The bent one, hit it hard with a hammer and they come out ok. Another thing If you take 7or8 zincs and melt them they melt ease, take a iron nail and remove the copper that floats on top, pour it in a mold and they make nice rings when polishes. Ease to cut with hack saw. Try it, then show us the pic. I can't put up pic. on here for some reason. flintstone
These days i leave the crusty one's in the hole for someone else to deal with or for future archaeologists (if they last that long... lol).
Hard to believe the Fed or the Treasury won't take them back. They're still legal tender, crusty or not.
Its time they ought to discontinue the penny.
Hard to believe the Fed or the Treasury won't take them back. They're still legal tender, crusty or not.
Its time they ought to discontinue the penny.
Doc Holliday
Active member
“Find a penny pick it up, all the day you’ll have good luck.”
You’ve probably heard that little rhyme, right? It actually has a pretty interesting origin. Many ancient cultures believed metals were precious gifts from the gods and would bring you good luck when found. Though pennies are not worth much, picking them up was also considered good luck because it increased your wealth. The bad luck from pennies comes from the understanding of a constant battle between good and evil. If one thing is good, the other must be bad. If one side of a penny brings good luck, the other side brings bad.
This is where the 'heads up for luck' and 'tails for bad luck' comes from. If you find a penny with the “good” side up, pick it up. If the “bad” side is up, leave it be. If you inadvertently pick up a “tails up” penny, avoid the bad luck by putting it back down heads up to help the luck of someone else.
You’ve probably heard that little rhyme, right? It actually has a pretty interesting origin. Many ancient cultures believed metals were precious gifts from the gods and would bring you good luck when found. Though pennies are not worth much, picking them up was also considered good luck because it increased your wealth. The bad luck from pennies comes from the understanding of a constant battle between good and evil. If one thing is good, the other must be bad. If one side of a penny brings good luck, the other side brings bad.
This is where the 'heads up for luck' and 'tails for bad luck' comes from. If you find a penny with the “good” side up, pick it up. If the “bad” side is up, leave it be. If you inadvertently pick up a “tails up” penny, avoid the bad luck by putting it back down heads up to help the luck of someone else.
GeorgeinSC
Well-known member
The only way that one could get reimbursed for damaged coins was to send them to the Philadelphia Mint. The coins had to be identifiable as U/ S.Coins. As of May 2016 they quit accepting returns. The stopped for six months and then extended the stoppage for an additional six months.
I can not find any information that indicates that they have or ever will again accept damaged coins.
https://www.federalregister.gov/documents/2016/04/29/2016-10123/extension-of-suspension-of-coin-exchange-by-united-states-mint
I can not find any information that indicates that they have or ever will again accept damaged coins.
https://www.federalregister.gov/documents/2016/04/29/2016-10123/extension-of-suspension-of-coin-exchange-by-united-states-mint
bootyhoundpa
Well-known member
I have heard of people getting re-embersed for damaged paper money.. i assume they wont do it for pennies as it's just too time consuming. .. well 18lbs worth will certainly prevent your garbage can from blowing away... good luck...