A nickel isn't , according to law, a "coin". = It's a "token", so there was NO violation in making those nickels into "hobo nickels".
Actually, the original case against the first guy who made them is "INTERESTING", as the court found him Not Guilty of "defacing money", criminal fraud & other possible violations.
RACKETEER NICKLES are also interesting, as "V nickels" were often altered, had the edge "reeded" & then plated with gold to "pass" as 5.oo gold pieces.
(This fraud became so common that the US Mint changed the design to put "5 cents" on every other year's production.)
"V nickels" were often altered & then plated with gold to "pass" as 5.oo gold pieces.
(This fraud became so common that the US Mint changed the design to put "5 cents" on every other year's production.)
Striking of the new coins began on January 30, 1883, and the Mint placed the first pieces in circulation on February 1. ...
It had not been thought necessary to inscribe the word "cents" on the nickel; the silver and copper-nickel three-cent pieces had circulated for years with only a Roman numeral to indicate the denomination. Enterprising fraudsters soon realized that the new nickel was close in diameter to that of the five-dollar gold piece, and if the new coin was gold-plated, it might be passed for five dollars. They soon did so, and had success in passing the coin. Some coins were given a reeded edge by the fraudsters, to make them appear more like the gold coins. ...
The plating of the nickels caused consternation at the Mint, and brought production of Liberty Head nickels to a sudden stop. Barber was told to modify his design, which he did, moving other design elements to accommodate the word "cents" at the bottom of the reverse design. The revised nickel was issued on June 26, 1883 ...
Where the authorities get REALLY mad is when you start making your own money. In my 33 years in the printing industry I have worked with 2 people that decided to print their own. REALLY pissed them off.
Well, duhhhhhhhh.... It's called counterfeiting and it is a FEDERAL CRIME.
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