Is It Worth It To Hoard Copper Pennies?

I keep the ones that I get in my change. they are already at least 30 years old. they will probably become like wheat pennies one day down the road. at the very least your grand kids might appreciate them in 20 years when pennies are no longer used.

I agree with CelticKnot above; since I already extensively go through cent rolls from banks looking for errors and varieties, I put the copper aside. I just hit the $400 mark in copper (face). Once I hit $1000 face going to break it into smaller lots and sell them on the Bay. My girlfriend and I's Carribean Cruise money!

Take a look at a typical ebay seller selling $100 face
$160.00 Sale Price
- 10.85 (USPS medium flat rate box)
- 19.20 ( ebay fees)
-100.00 (Face cost)
= 29.95 (Net profit)

Assuming 20% copper per box you would need to sort 5 boxes to find $100 copper pennies. Add in the gas / time to buy 5 boxes and return the zinc plus the trip to the Post Office.

If you are already roll hunting pennies that is $30 bucks in your pocket. However, if you are going to hunt copper specifically to make money and you would most likely do better getting a second job delivering pizzas.

I started by looking at completed listings on ebay to see recent selling prices. There was a seller that sold several $100 face lots for $160 w/ free shipping. (He also had several lots that didn't sell @ $160) The shipping showed USPS medium flat rate box.

I looked up the price to ship a USPS medium flat rate box which is $10.85 if you have an account and print the label online. It is more if you go to the Post Office.

I sell quite a bit on ebay and my average ebay / Paypal fee is 12%. 12% of $160 is $19.20.

$100 of pennies of course cost $100 at the bank

I don't sort pennies but from reading this forum is seems the average box of pennies is 20% copper.

My local pizza place has openings for delivery drivers. They pay $7.25 plus mileage + tips. So selling $100 of pennies on ebay equals about 4 hours of delivery pizzas assuming you don't get any tips and the mileage credit covers your vehicle costs. You will owe more taxes selling on ebay than working at the pizza place because you will have to pay both sides of FICA.

$0.0125 each isn't bad if you are already sorting pennies. The math isn't so great if you are going to sort pennies simply for copper though.

1box = $50
Assume 20% copper ($50x.2=$10)
$10x.25=$2.50

$2.50 per box of pennies. Again it comes down to how much your time is worth. How long does it take to sort a box of pennies?

Taxes are still owed regardless of whether you sell pennies on ebay, Craigslist, your local dealer, or a yard sale.

Selling privately on Craigs list just makes it easier to cheat on your taxes.

I used to sort Wheat cents for my grandmother when I was a kid, I used to enjoy it. As for hoarding copper cents; if the Lincoln Cent was eliminated from circulation, then it would be legal to melt the copper ones. Anyone who melts copper cents would definitely profit if the spot price remained the same or rose in value.

There is also a secondary market for these. Just check out completed auctions on ebay. It is not uncommon to sell $50 worth of copper cents for $75. In my opinion hoarding copper cents is a win/win situation. If the spot price of copper drops, a cent will still be worth a cent.