I recall hearing an interesting fact a while ago, where the British 2 pence piece, which is made entirely of copper, was actually worth less than its value of copper once melted down. Therefore, it was claimed, that if you melted down 1 2 pence piece, you could actually sell the copper for 3 pence, thus making yourself 1 pence profit per unit. Does anyone know if this actually holds any truth?

 I know that for the Canadian penny, it takes 1.5 cents worth of copper to make 1 cent worth of coins, so they are debating whether to stop making pennies with copper or not.

 I'm not sure about the British 2 pence but the price of copper and steel has risen worldwide due to the burgeoning electronic industries of such Asian countries as China, South Korea, and Japan. This could be related to that value of the 2 pence. I've also read a news somewhere that the American  penny is actually worth more than it's face value.

I'm sure that if this is in fact true, and it continues to hold true for the following years that the Bank of England will cease production of the 2p coin and just leave the 1p coin to be used as useless change.

Although, if i remember right, isn't the 1p coin half the weight of the 2p coin? Hence leaving it in the same situation?
 

I believe what they will do if they find too many 2 pence coins going out of circulation, would be to combine the copper with a less valuable material such as tin.

 In view of the global shortage of essential metals, governments might as well look for alternatives in minting new coins, like resin or plastic. Some of the newer plastics could outlast metal and are lighter. Even nickel-containing coins are disappearing.

If you have a look at the US coins I found the following 

Lincoln Cent:
With the exception of the war-time Steel Cents minted in 1943, Cents produced from 1909-1982 weigh 3.11 grams, and are composed of .950 copper, .050 Tin & Zinc.
Those produced from 1982-Present weigh 2.5 grams, and are composed of 99.2% zinc, 0.8% copper, with a very thin plating of pure copper.

Jefferson Nickel:
With the exception of the 35% Silver War-Time Nickels minted from 1942-1945, Jefferson Nickels weigh 5 grams, and have been composed of .750 copper, .250 nickel, since 1938.

if you get the current prices for the nickle and copper, you will find that a Nickel is abut 7 cents worth as well as a cent coin is worth about 2 cents.

Gizmo:

If you have a look at the US coins I found the following 

Lincoln Cent:
With the exception of the war-time Steel Cents minted in 1943, Cents produced from 1909-1982 weigh 3.11 grams, and are composed of .950 copper, .050 Tin & Zinc.
Those produced from 1982-Present weigh 2.5 grams, and are composed of 99.2% zinc, 0.8% copper, with a very thin plating of pure copper.

Jefferson Nickel:
With the exception of the 35% Silver War-Time Nickels minted from 1942-1945, Jefferson Nickels weigh 5 grams, and have been composed of .750 copper, .250 nickel, since 1938.

if you get the current prices for the nickle and copper, you will find that a Nickel is abut 7 cents worth as well as a cent coin is worth about 2 cents.

Impressive, you certainly know your metal and coins. :D

In some countries, like the Philippines, high-nickel coins are being smuggled out, purportedly to China. It's easier to transport and melt them down than import the ore.
 

Gizmo:

If you have a look at the US coins I found the following 

Lincoln Cent:
With the exception of the war-time Steel Cents minted in 1943, Cents produced from 1909-1982 weigh 3.11 grams, and are composed of .950 copper, .050 Tin & Zinc.
Those produced from 1982-Present weigh 2.5 grams, and are composed of 99.2% zinc, 0.8% copper, with a very thin plating of pure copper.

Jefferson Nickel:
With the exception of the 35% Silver War-Time Nickels minted from 1942-1945, Jefferson Nickels weigh 5 grams, and have been composed of .750 copper, .250 nickel, since 1938.

if you get the current prices for the nickle and copper, you will find that a Nickel is abut 7 cents worth as well as a cent coin is worth about 2 cents.

Dang is that true? If so, your saying we could basically sell our "copper" and make an extra penny off of every coin we have XD. That sounds like a deal to me :)!