Is saving pre 1982 copper LMC a good idea or not?

I set aside my copper pennies (I also am setting aside my 1982 pennies as if I am not mistaken some of them are also copper because it wasn't until partway through the year that the mint switched over).

I figure if some day we get rid of the penny, or we are allowed to sell the pennies at the price of the metal to be melted down, I will be ahead of the game than if I started saving after that announcement.

I also figure if I do it for a while, and then I get sick of it and decide not to do it anymore, I can still trade in those pennies for more for roll hunting, or even cash them in and maybe have enough for a real nice coin.

I guess down the road I don't have a moment where I think to myself "I wish I had been saving copper pennies...".

50% is not too bad, considering I invest one cent for every one I take out of circulation. Although I know the Government had a law against melting cents, I have no idea if it expired or was lifted.

Most people are holding onto them incase the law is every lifted. Its not really a bad idea to do. I wouldnt spend a lot of hours and money on it but if you hold onto them over time youll have a worth while investment and can sell them for a profit for something. At the very least its a no risk investment plan. Worst case you can still get face value for them which is what you paid anyway

It was sentiment like this that I found here that got me started hording copper.

ive been sitting on thousands of dollars worth of cents for many many yrs, theres literally no risk its money I dont really need right now only problem it basically takes away most of a room hahaha plus a filled closet

It takes so many thousands of cents to really make any worthwhile money, I don't see the point. And it is a huge if, if you can ever get them sold for that much. Smelters need to make money, so they will take a cut. It is possible to double your money, but a very long shot.

And the main reason why I don't save them is that I doubt the government will ever let anyone melt them, since they would want the profit for themselves. The way Canada is doing it, will probably be how the US will do it. Canada is going to have their banks pull them from circulation and send them in to their mint, to be recycled, which will start this fall. I just don't understand why they are going to mint millions of cents this year and then just start pulling them from circulation a few months later.

True. There is no need to melt them to make a profit.