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Chicago Fed Letter, No. 235a, February 2007
What's a Penny (or a Nickel) Really Worth? (Special Issue)
The author examines the reasons behind the United States Mint's recent decision to issue new rules on the melting and exportation of pennies and nickels in the broader context of our small change. These regulations were prompted by recent inquiries the Mint received asking whether melting coins was legal and by other anecdotal reports of “recycling and speculation.” What is happening and what is to be done about it?


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