Yes, and No. It is currently illegal to 'recycle' or export them, but that is a temporary regulation from the Treasury. Some people are paying a premium for pre-1982 cents and holding them until this order expires. Those minted after 1982 contain only a fraction of a cent worth of copper as they are mostly zinc.
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No, it is illegal to melt or export US pennies to melt them down for their copper value.