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November 18, at pm. Robert says:. Nixon is still in office 3. In the few years that followed, copper pennies were scrutinized by congress, and and plans for aluminum pennies were drafted up! One rare example still exists! Unfortunately, interest in making an aluminum penny was shot down by vending machine lobbyist.
This small article from summarizes the feeling at the time. If you are collecting copper pennies, or just want to share your input, please comment on this post or add your voice to our scrap metal forum! The entire thing is filled with coins, appears to be mostly old pennies some silver, nothing newer than or older than circa Hi Tommy- That is so unusual.
Do you know how the coins got there? Hi, You need to take care of these coins if you ever expect to sell them. The cents do not like being exposed to humidity in the air. Just leave a new cent in your bathroom for a while.
Well, that is mostly Zn. It takes years for a person to learn how to search for the errors and varieties of different coins. Most can not memorize all this info. You need to love doing this. I just read that a cubic foot of space holds 49, cents.
People who search coin rolls at this time before Christmas are really wanting these cents you own. I suggest that you sell them by the pound on ebay, and tell where they came from and that they are unsearched.
People will pay a lot per pound. I may be wrong, but 1 square foot of copper cents weighs lbs. Ok so this forum has been around a long time. The cost to aquire copper cents has gone up by a lot. This is real value. The paper dollars have lost value. I used to get away with paying about 1.
I love collecting copper pennies. The red copper pennies in MS65,66 and 67 command big money. Hi, I know this comment was not directed toward me but I thought I should weigh in on it. You are talking about the melt ban but melting those coins would make the value of the copper go down. It would be counter productive to melt the pennies even if it were legal.
There already is a market for them above face value as coins. I am actually part of the market as a buyer of the coins above their face value as a minor investment in copper bullion. As coins the alloy is known. Testing is not needed and is an added expense if the blob of copper had to be tested for its composition.
Just something to think about. Not sure why so many people turn to melting for value when value gets destroyed. So, I own a coin shop and have been saving 3. Would you please give me a lead on disposition markets. Yep I been saving them since right along with my silver. The copper cents play a role in a physical metals portfolio.
Cheap fun hobby! No interest in it at coin auctions no matter unless a specific few. Everyone who has tried to sell a penny that has been certified at that price never saw a dime in sales. I have a old glass 5Gal. Bear water bottle filled with pre copper pennies. I live here in Marlton, NJ. Are you interested in buying them or may I have a phone number of someone you know in this area that would be interested? You could also text me at When was this article written?
I have Been saving copper pennies for a while.. If so, when? The remaining turned in the banks or scraped? Should I save nickels as well? What happened up in Canada? Did Canadians sell their copper pennies for scrap.
I would appreciate the answers to these questions. Thank you and be safe. Just found this article and commentary and wanted to say I collect pennies, only pennies. I do not buy them by the truckload because that never crossed my mind. I just found a strange penny one day and pursued it.
Anyway I look for specific pennies. I only buy a Should copper become a real necessity to our government what is to stop them from simply doing what they always do anyway which is to simply take whatever you have by lowering the its value and then forcing you to sell because it is one of those for the good of the public as a whole things?
And pay you only what the present market value is? The market value they set? And lives? Risking a few for the good of the greater? Anyway it would be interesting to know just how many coppers remain in the federal reserve? On closing I would like to say that all monies both paper and coinage are going to plastic so the the argument of switching to lesser valued metals as a means of saving the government money is a point that is made moot as the zinc penny has shown.
Save your coppers. Save your silver. If they want them they will simply take them. But save them for the right reasons. And the right reasons? Are anything that you see fit. Because it going to make any difference either way. I dont know why not more people are saving the zinc pennies too. I have been since Everyone is going to start looking for those soon too. Ever look up the outlook on zinc? Looks more bullish than copper from scarcity. Last I looked the nickel and the zinc cent were about even in metal value vs face value and we all know that nickels had a metal value above face in so I think the zinc cent will be worth more than face shortly.
Another reason I was saving them was because in an article came out saying they might revalue the cent to 5 cents and 5 cents to 10 cents. It did not happen of course but anything is possible going forward. I decided to get out of the copper penny hoarding fixation. I always felt weird searching day after day. It seemed like it was an obsession that took me away from expanding myself in more creative ways. There I was peering through my loupe ,coin after coin, praying for some minute error line on some letter or date or Lincoln beard, or word, or wheat emblem or etc etc.
The process was just down right weird. I dumped all back into circulation where they belong. I am still very much into copper cent collecting. It has never wore on me. In fact I have a new batch coming in the mail from eBay.
I look for errors and put them in my copper bullion pile. Still getting rolls of nickels from the bank. I love it. Looking for a penny hoarder in the San Francisco Bay Area. I can provide a detailed inventory. Cash only. Wondering if you ever found a buyer for your pennies.. Thanks for your time and consideration Dan. Dan, I would assume that you have long since found a buyer for your mint sewn bags of pennies?
On the off chance you still have them please let me know. You can message me using your cell phone at Two Three 9— two hundred—twenty one twenty six. As far as investing in bullion goes I buy silver and occasionally gold. Mainly silver due to the fact it is the most under valued commodity. Silver is the main one for me too. Gold is ok but you can get si much more silver for the money. I hold the copper pennies and all nickels as another metal category.
One day I believe they will trade as coins like how silver coins do today with their metal premium. The only argument I have with this article is where he talks about the difficulty in separating non copper pennies from copper pennies. Many penny hoarders have coin sorters that do just that by weight. Also, just selling them you can make money now.
The only way to guarantee pure copper is to refine it, which is prohibitively expensive unless you do a mass quantity. Thank you very much for all this information on here , I really appreciate it. NOW iam going to really save a lot more. I was just barely saving here and there, but Now iam going full fledged with it. Thank you for all the inspiration!!!!!!! Karen and all family. Hi, I think that comment about steel pennies is very interesting.
Did you know they already have been made? Yes, but not modern pennies, back in WWII they made pennies from steel, temporarily, instead of copper. Metals were at a premium for the war effort, and scrap metals drives were common. If you found a WWII steel penny today it would have three values.
Steel pennies were only made in , copper pennies have been made for many years; automatically making steel pennies scarcer. There are also steel pennies, struck by mistake when the mint returned to copper alloy for pennies did I mention people hated the steel pennies?
So what is my point? And say the melting ban is removed. And of course the rarer the coin becomes, the more valuable it becomes. So then the unmelted penny will be worth more than the 2 cents you want to scrap it in for, and the melted penny will be worth less than 1 cent. And copper pennies exist, too. They are ultra rare, only 40 are known to have been made when some copper blanks were accidentally left in the machines when they started striking the steel pennies.
Will you melt that down for 2 cents? Will you melt down a coin worth hundreds of thousands of dollars, for 2 cents worth of scrap copper? Better run and pour out all those pennies! Go through each one a coin at a time! But will I go chasing them down?
Wow that was great. Yeah I am a big hoarder of pennies. I look at each one for rarities and seperate them in three parts. Copper bucket, zinc bucket, wheat bucket. I can not figure out why people want to melt them or even care about the melt ban.
The alloy is already determined in coin form. If you melt them no one knows the purity. Now we all know that wheats carry a premium. Try getting wheats for purposes of copper bullion. You will be paying a lot more for those kind of pennies. Yes I save zinc too. There will come a time when people will me scrambling for the zincs when they go over face value in metal.
Zinc is starting to have some bullish news about it as far as price. I would watch that metal. Why scramble for them later why not save them now? I save all pennies. I look at every single penny I get with a loop for a added check. My coins will go up. Their copper will go down. Also remember Canada used copper pennies til I enjoyed reading your post. However, just like other precious metals, there is a limited supply of copper on our planet. I had read that in 20 or so years we will have depleted this resource.
I had also read about how hard it is to mine and refine. Recently I read an article that spoke about a new technology developed that makes it easy to seperate already mixed metals.
A copper penny to me is no different then the copper I pull out of a tv I scrap I see copper I see gold. Copper will never go down in demand or price in the long term. Many countries have yet to develop economically. You can buy a machine that separates the copper ones from the shitty zinc ones.
I metal detect sometimes. I pull a pre 82 and its in great shape. Tells me a lot when comparing metals. Because of their copper content, these coins are worth about twice their face value. The modern pennies after the year are You can look in your house and see what types of coins you can find in your drawers, coin jars, etc.
You can also find copper pennies in your change. Whenever you make a cash purchase and receive back coins, you can check to see if there are any copper pennies. This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More. Table of Contents. Are they in good condition? Some of them have been damaged during their production process and may not be worth as much as others. You can also check the surface of the coin using a magnifying glass.
If you notice any discoloration or scratches, then it is a good idea to take the penny back to the bank or just leave it in a safe place. If you decide that you want to keep your copper penny, now is a good time to put it in an envelope and store it as long as possible. This will help prevent any further damage from occurring. The second thing that you should do is to identify the coin and then look for its value in a coin guide or database.
You can look online to find the value of copper pennies, or check your favorite numismatic books and publications. If you are not sure about how much your copper penny is worth, take it to a coin store or vintage dealer. They will be able to tell you whether or not it is rare, as well as what its estimated market value should be.
You can also sell your limited edition coins on eBay if you are looking for an easy way to put them up for sale. However, before you get too cocky, treasure hunting is a Metal detecting is a strangely addictive hobby, but it offers a fun mix of treasure hunting and discoveries.
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