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 Replies: 53 / Views: 7,397 |
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Valued Member
United States
197 Posts |
Gold and silver coins are bought and sold all the time on the basis of their metal value without any intention of their being melted to "unlock" their metal value; why should copper cents be any different? I scrutinize every coin that comes into my possession. Slipping the coppers in my shirt pocket and later tossing them into my bowl of coppers takes virtually no time or effort. So why not?
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Pillar of the Community
United States
592 Posts |
Quote:
Gold and silver coins are bought and sold all the time on the basis of their metal value without any intention of their being melted to "unlock" their metal value; why should copper cents be any different? I scrutinize every coin that comes into my possession. Slipping the coppers in my shirt pocket and later tossing them into my bowl of coppers takes virtually no time or effort. So why not? Because gold and silver are "special" that way. |
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Valued Member
United States
99 Posts |
In my opinion copper value has the biggest potential to grow more then both silver and gold, percent wise over the next 10-20 years. I invest in copper pennies as well as silver and gold .
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Pillar of the Community
United States
2424 Posts |
good idea? in my opinion.. YES i accumulate 2x $25 boxes then sell em on ebay. last month did one sale of 2x$25 box's for $86. any profit is good profit... |
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Pillar of the Community
United States
594 Posts |
I'm not a hoarder or a scraper. I have more respect for the hobby than that. I'll start saving copper wire first, before scrapping pennies.
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Moderator
 United States
188442 Posts |
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i save all of mine, and Nickels too,,, they are 75% copper,,I think...No spending copper in this house! Correct, nickels are 75% copper. However, Quarters and Dimes are more than 75% copper; the outside cladding is 75% copper, but the the core is 100% pure copper.  |
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Pillar of the Community
2223 Posts |
Quote:sell em on ebay. last month did one sale of 2x$25 box's for $86 Out of curiosity SD, how bad was the shipping costs? Edited by southsav
05/07/2012 7:43 pm
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Pillar of the Community
 United States
2269 Posts |
I have no intention of melting any copper cents if the law was lifted. I figure since it only cost me a penny for every pre 1982 cent I put aside, I am really not making too much of an investment. I may down the road place them on ebay in the form of a lot. The other option I have been pondering is to save them for my 4 year old son. I figure these 95% copper cents will become less frequent in everyday change in the coming years. When my son is 10, he may think it is rare to find a copper cent in circulation, the way I did when I was his age and came across a Wheat cent. |
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Pillar of the Community
United States
6326 Posts |
I guess there are no naysayers against doing this.....  The main reason to vote "NO" for me, is "space", or storage capacity. And unless you're talking about TONS of Lincolns ........ the potential profit is so minimal, it just isn't worth my time and energy to save em' and ship em' to whoever wants to pay me that 50% margin. And if you DID have enough Coppers to make an interesting "shipment" to a buyer..... Could you imagine the WEIGHT of such an amount ! ....... Holy Cripes ! No thank you....I don't even like mailing a roll of new quarters out to somebody...(or 12 somebody's)...let alone 60 pounds of Copper Cents ! ...  Now, I "DO" hoard common date Wheats.....worth about the same as the Copper ratio, I suppose. But this is because of the numismatic factor, not the Copper content. And of course I keep any "Silver Junk coins" I come across too, for similar reasons. |
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Pillar of the Community
United States
2295 Posts |
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Gold and silver coins are bought and sold all the time on the basis of their metal value without any intention of their being melted to "unlock" their metal value; why should copper cents be any different?
That is because gold and silver coins can be melted legally. Most of the time, dealers just resell them and never send them off to be melted. And that is why they are special.  Quote:
Now, I "DO" hoard common date Wheats.....worth about the same as the Copper ratio, I suppose. But this is because of the numismatic factor, not the Copper content.
Yes, the wheats can go for at least 3-4 cents each for common circulated ones in large amounts. I've seen some dealers offer 10+ cents for them in large amounts. And it sounds like people are doing the same with the LMCs now. That is interesting to hear. Are there enough people collecting them to make an easy profit? I know you can get quite a few thousand cents in those large, unlimited weight, USPS priority boxes. They can easily fit 50 rolls, since I've bought that many rolls at a time. And the shipping is around $11 for that box. |
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Pillar of the Community
United States
2295 Posts |
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Quarters and Dimes are more than 75% copper; the outside cladding is 75% copper, but the the core is 100% pure copper The Mint doesn't describe them in that manner, but they do say they are 91.67 % copper. And that includes the half dollar too. http://www.usmint.gov/about_the_min...ecifications |
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Moderator
United States
188442 Posts |
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The Mint doesn't describe them in that manner, but they do say they are 91.67 % copper. And that includes the half dollar too. Thanks. I was unable to find the exact copper percentage (I admit that I did not look too hard).  |
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Pillar of the Community
Canada
3692 Posts |
I'm thinking of just unloading mine.
They are not pure copper.
It's only a base metal.
It's taking money out of the economy by just sitting around doing nothing.
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Pillar of the Community
United States
2295 Posts |
Put a post in the for sale or trade section and see if anyone will give above face value for them?
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Valued Member
Canada
262 Posts |
I collect copper U.S. cents that make it up here because I can scrap them without fear of the law.
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Replies: 53 / Views: 7,397 |
First Page
Posted 05/05/2012 09:40 am
