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Replies: 23 / Views: 2,801 |
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Valued Member
United States
208 Posts |
What year did the mint stop making the 95% copper pennies?
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Valued Member
United States
393 Posts |
1982. Both copper and zinc cents were made in 1982 though.
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Valued Member
United States
414 Posts |
I really don't know how much money a person can make for hoarding copper pennies. Said the copper content becames 5 cent per penny (a long shot) and when he wants to sell them, the dealer needs to make some money as well as downstream melters and refiners, etc. I believe, the most money the hoarder can make is 2 to 3 cent per penny. To make 1000 dollar, he needs to hoard 50,000 penny and wait. The bottom line, it is not worthy! 
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Pillar of the Community
United States
5362 Posts |
Hi Monster - in your example you can make 2 cents per penny. In my book that is a 200% increase in your money. If you put one cent in a bank how long will it take to even DOUBLE?
I save pennies and right now have several hundred rolls of copper. I have 500 or so rolls of wheaties that I don't count. But as copper prices rise so will those.
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Valued Member
United States
208 Posts |
On a serious note I am hoarding all gold and silver coins I can get my hands on.
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Valued Member
United States
414 Posts |
200% profit is really great. But the effert you need to put in is more than 2 cents. I world rather focus my effert to something else, said 20% profit but 200 dollar. Just a thought.
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Pillar of the Community
United States
560 Posts |
I'm hoarding gold, silver, copper, and aluminum...aluminum cans. The last time I checked, each can was worth more than Two Cents apiece which makes them more lucrative and easier to reap your profits than copper cents. I know storage is problematic for most people but I live in a warehouse and have six 40ft. shipping containers. It seems as though all metals keep going up more and more in large part because of the Chinese. I'm fixing to marry a girl who is coming from China. Every product I buy comes from there; so, why not my wife too. Guess where I'm heading when China dumps trillions of our dollars and our economy sinks into a major depression.
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Valued Member
United States
470 Posts |
I get one of my paychecks cashed every other month in coins. So yeah, I hoard everything :)
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Valued Member
United States
414 Posts |
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Pillar of the Community
United States
560 Posts |
Yep, I'm ready for a healtheir diet! And, I've always wanted to learn Chinese; she doesn't speak English. I hoard many other things, too. Is that a trait of coin collectors?
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Valued Member
United States
414 Posts |
Chinese is not to difficult to learn. I know it when I was 2. The English is my problem. 
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Bedrock of the Community
United States
20753 Posts |
I've made this statement many times now. People that hoard just anyh old coins are wasting their time. I too once hoarded quarters and mostly those stupid Bicentennial ones. After man years I found they were worth a quarter each so to the bank with thosands of dollars that could have been accumulating interest. But that is not what is in the future. I predict that in the near future coins and most currency will vanish from the face of the planet. As coutries continue to do trading at an ever faster pace the monetary system of the world will have to be united. Europe is starting but that is only the beginning. Electronic monitary systems will be the only way of the future. Machines will automatically convert any price anywhere on Earth and items will be bought and sold electronically. The monitary system, your coins, will be in museums. Hoarding them will be useless since coin collecting will slowly subside due to no new issues of coins. This may sound like a far, far distant future but look around now. Gas stations, grocery stores, general stores, hotels, motels, etc all are going electronic. You can't even rent a car without a piece of plastic. Even now many people do not carry money so what do you think the future will hold for our coins?
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Valued Member
 United States
270 Posts |
Well there you go, it is not increasing metals prices, but electronic funds transfers that will ultimately, and within a short time, not only eliminate coins themselves but completely obliterate the coin collecting hobby as a whole. Yow!
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Valued Member
United States
346 Posts |
just carl I really hope your wrong lol that would suck but coins wont dissappear because not everyone collects new issues the older ones are real hott and they wont just dissappear...
i personally hoard silver. cant afford gold lol. I think if you hoard enough pennies tho you will definitely come out on top.
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New Member
United States
47 Posts |
here is something funny: if you dont think these copper pennies have a market yet, check ebay, people are actually buying these pennies for more than face value! I havent seen any crazy prices yet...
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Replies: 23 / Views: 2,801 |
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