Life Earnings In Pennies?

only touching on a few subjects: a savings account isn't always necessary, but a checking account almost is required if you have a job/car/house or most bills. Some companies you send money to are out of town, or out of state, so sending coins/bills is not recommended or secure.

I want to get in on this. first of all unless you plan on living 112 years the figures don't really matter that much. Say you hold onto the coins for 40 years, they will obviously be worth more than face value. Copper pre 1982 cents are already worth $0.025 cents each now, so what are you waiting for? Get some boxes of pennies...

I mean if you get for an example of 10 boxes of pennies or $250 in pennies or you could look at it as 25,000 pennies. I would assume around 200-300 would be wheat cents which are worth about four cents each now so in forty years they will be worth more. Inflation alone says one Wheat cent will be worth about ten cents each in 40 years. In inflation alone a 95% copper cent will be worth seven cents each after 40 years so clearly percent wise this is better than the bank...

So inflation alone $250 in pennies would be worth $550 after 40 years.
That doesn't include all the coins with premiums and if copper shoots up to $30 a pound in 40 years that will be much more.

I personally keep pre 82's as well as all the error coins I find while roll hunting

Is that true? Copper pennies are worth a quarter each right now? If so, thats crazy and Ill be roll hunting in the near future lol

Edit: I read that number wrong lol been in the car for 16 hours over the last few days reading books, my bad!

I'm going to cash out in penny, I'm not going to sort the penny boxes or even open, I'll only open them if I need the money and keep as many pennies as possible. In 60 years Ill have several coins that are over 100 years old and will be able to cash out lots of money for me idk

That is not the question you should be asking. It should be have there been any old coins that have risen in price less than they would have if sitting in a bank account. My guess would be yes.

So then why do people hoard copper pennies? Like I've already asked this question but I've come to the realization from your posts that maybe it might be better to put it in the bank.

Lets say in 1975 you put 25 dollars in the bank and withdrew in 2000
you would be withdrawing roughly 129.00 dollars

the value of a copper penny 0.0217935 or roughly 50+ dollars for a 25 dollar box worth.

I think it may be better to put copper pennies in the bank.
Copper pennies can be worth only so much, due to the fact that copper is a heavily used industrial metal. Saving copper pennies in the hopes that copper will shout up to 10.00 a pound is kind of silly as it's probably not going to happen. Even if it did there's a limit as to how much copper will go up to in the sense that there has to be some kind of stable market for it as it's not a precious metal.

You can however earn interest forever without a cap for as long as you have your money in the bank. My guess is that leaving 25.00 in the bank of copper pennies would accumulate more interest in several years than there copper value and then would accumulate more profit than the copper value for ever afterwards.

I get that copper pennies are now a thing of the past (although zinc pennies will soon be as well) and that they are worth more than their face value and it's getting some media attention. People may melt the coins (like silver coins) making the coins rare and scarce. Investing in copper coins in the sense that one day they will be worth a lot more than their copper value to collectors because they are scarce is some what logical. I however don't see why people are hoarding thousands of dollars in copper coins for their copper content and not their potential value due to their scarcity after the melting band is lifted and people begun to melt them.

I also do think that your right and that it makes more sense to put your money in the bank regardless and that perhaps you would make profit putting coin in the bank than hoarding coins as 100 years from now the coin would be worth more to collectors than the face value, but like you said there's the chance that you would make more money off interest on that coin.

I think however you get to the point (maybe not after 100 years) were the coin becomes worth more than the interest. Like if you had a bunch of 400 year old coins sitting around those would mostly likely be worth more than the interest. But that would be an investment not for you but for someone else as you wouldn't benefit from it. By the time I die I will have several coins that are over 100 years old but none that are any where near 400 from u.s. currency (lol I don't think the currency has even been around that long but you get the point) I think you get to the point were the coin does indeed come worth more than the interest it's just a matter of how long.