Important Features of the New Regulation:
- Travelers leaving the U.S. are limited to taking $5.00 worth of pennies and nickels out of the country.
- No more than $100.00 worth of pennies and nickels can be shipped out of the U.S. in any one shipment, and those only for "legitimate coinage and numismatic purposes."
- Penalties for violation include fines up to $10,000 and 5 years in prison, plus forfeiture of the melted, shipped, or treated material.
- The new law will have Interim Regulation status for 120 days, during which comments will be accepted for 30 days. Following the comment period, a decision will be made by Mint Director Ed Moy as to whether the law should become permanent.
I can't help but wonder if we're going to see a new metallic composition for the nickel soon. Another thought that comes to mind is whether we'll see nickel hoarding. What are your thoughts about this? What metal might we see in a new nickel? Are you going to start hoarding your pennies and nickels now? Share your thoughts in the Comments (below) or come discuss them with us in our Coin Collecting Forum.