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Replies: 20 / Views: 2,314 |
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Pillar of the Community
 United States
1450 Posts |
The great irony of this is that I started hoarding for the copper then got hooked on collecting Lincoln cents again, just like when I was a kid. Hoarding brought me back to collecting, now the collecting part has me a bit ticked off at hoarders taking all of the good quality coins to hold for melting. I know many of you are opposed to hoarding for many reasons but I'm glad I am back to collecting these lovely little gems and had I not started hoarding and seeing so many nice cents still in circulation, I would not be collecting again. Now I need to go back through all of my early rolls and make sure I get all of the quality copper.
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Valued Member
United States
56 Posts |
I don't really see what's the point of singling out the higher-grade copper cents, especially when you can still buy entire BU rolls of most dates for only $1 or so. I would think that only better dates like the 1969, 1971, and the "S" mints might be worth setting aside in nicer condition.
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Pillar of the Community
United States
666 Posts |
 With the number of coins minted I just don't see how the zinc cents will every be valuable regardless of condition. We're talking Billions of examples per mint per year. The memorial coppers aren't much better. Just look at the value of most wheat cents made in the 40's and 50's. Isn't the going rate around 3 cents... Isn't that pretty darn close to melt? So in over 50 years these newer wheat cents have managed to retain their copper value. Even uncirculated examples of these latter day wheats can be found for as little as 10 cents. When I roll hunt Lincolns I'm looking for wheats and varieties. I keep the copper just as something to do. I have every intention of melting down those kept coppers as soon as it's legal.
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Pillar of the Community
United States
543 Posts |
I really disagree with hockingzigs statement that the coppers are getting harder to find, I get at least 20 coppers per roll out here in North east pennsylvania.
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Valued Member
United States
146 Posts |
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Pillar of the Community
 United States
1450 Posts |
Jeremymh, I am glad to hear that. I was simply making an observation of what I have noticed, I hope my experience is the exception, not the rule. I had great luck in eastern PA just last month, some of the best roll searching I have ever had so it may just be my location and the number of people in this small area roll searching.
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Bedrock of the Community
United States
12437 Posts |
Quote: what are coppers ?
Pre-1982 Lincoln cents were minted on 95% copper planchets. Part way through 1982, the planchets were switched to copper plated zinc. The value of the copper exceeds the face value of the cent(about 2 cents copper value) however it is illegal to melt them so the value can only be realized by trading sales, not refinery melt sales. The current demand is relatively small and the vast majority of dealers do not trade in them because the profit margins are too small and they can make much more with gold and silver which can be melted. They do sell in bulk on ebay fairly well from what I understand but this is mainly small time individual sales. Demand could increase at some point, especially if the melting ban was lifted.
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Pillar of the Community
United States
632 Posts |
I'm sure somebody has already mentioned this, but I was too lazy to skim through all the previous posts.
It seems like copper cents are becoming like silver halves. They're more predominant in certain areas. Some areas of the country are dry on silver, and other areas of the country people are getting rolls of franklins from the bank!
Where I am, finding copper cents is as easy as poking through the change you got back from buying your subway sandwhich. There is no shortage of pre-82's here.
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Pillar of the Community
United States
581 Posts |
I've been thinking a bit about this since yesterday.
I think the big problem with zinc linconlns will be to find "problem-free" examples in the next decades. If you've worked with them for awhile, you know that they literally "rot".
I have one of those whiteman folders where you push the coin in the hole. It's a folder for the Lincoln post-1959 set. Three years ago, it was up to date and all the coins were nice and red. Just a couple of weeks ago, I opened it up and there is all kind of nasty toning going on with the 1980's and 1990's lincolns. Now I haven't taken any special care of the album - it sits on a shelf in our bedreoom closet, but in aother 5 years, what will those coins look like?
Edited by Kabiye_Lady 07/27/2008 09:45 am
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Pillar of the Community
United States
1121 Posts |
I hoard copper and put away anything red pre 90.
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Pillar of the Community
United States
2271 Posts |
The zinc coins do rot and many of them self destruct as well. Any problem with the plating and air gets in and they begin oxiding. It will go very slowly as long as there's no moisture but it doesn't take much and the process speeds up again.
Some of the nicest specimens with razor sharp strikes have the copper sheared right off the the lettering leaving it exposesd to the elements.
The number of zinc coins saved each year appears to be highly erratic. Some years there were apparently vast numbers saved and other years are in short supply. But every year is likely to have quality problems. Many of these rolls are in poor shape already and would be spent if the owner knew.
Mint set quality is generally pretty good but some of these haven't held up either. The '84-D is a case in point. The '89-D is going to be one of the worst for the best specimens turning to dust.
Eventually the government will wake up to the fact we haven't needed a one cent coin in a very long time and will destroy the cents left in circulation. By that time they'll be all zinc. And most zinc not in circulation will be mostly rotted away. Don't get me wrong, the penny is too worthless to get everyone to bother to turn them in so they'll always be common but what condition will the be in if tey're already a fright now?
Time don't fly, it bounds and leaps.
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Pillar of the Community
 United States
1450 Posts |
I agree. Most of the zincs pre-2000 are awful. First, many of them were really poor strikes and the rest either have zinc showing through the copper or have big black and/or green splotches. I don't think they will last 10 years in any kind of shape except maybe in air-tites.
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Bedrock of the Community
United States
20753 Posts |
Not much of a shortage around me. The metal recylers get lots of them amongst the spools of wire and piping.
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Valued Member
United States
429 Posts |
It comes down to many different factors, as we have read: 1. Location 2. Location and 3. Location I live in a smaller city (about 100,000 people) and there is only ONE coin store. The next closest is 2 hours one direction and 5 the other. So as you can tell, we do not have the biggest selection to choose from and if you do not use the Internet then you are screwed. My shop has had rolled coin offered once in the last three years and I ended up buying them all for $1.50 a piece. If they offered more then I would buy them, but they don't so I end up roll searching for a lot of my collection. When I go through I get every red cent I can find and keep almost everything pre-1982 that is problem free. No one knows what the future will hold for these coins and if copper hoarding will be for not, but until then it is a very cheap thing to collect. Besides, if it was not worth doing then why are there companies out there collecting them and illegally melting them? If there are more companies/individuals doing this than we know then MAYBE the price of copper will eventually go up. I think another part of it is like a fair amount of what our grandparents did in the great depression and held onto what ever they could. There are some of us also that feel the effects of the recession we are going through and want to have a little something to sit on. This last week I took in about $160 worth of cents and traded them in to leave town for the weekend and feel fortunate that I had that change sitting around to do so. Everyone has there own reasons and my biggest one is that hopefully I can trade/sell them to other collectors and gain pieces to my own collection. Almost every day someone new is joining this forum and asking where and how to start and depending on their location it is tough to get certain coins. Just reading through some of the other posts amaze me of the generosity of the members here and how people just send off a coin to someone to help fill a hole and expect nothing in return, personally I hope that I can get to that point. Right now copper is not that much but if someone came onto the board saying they can not find common date 1950-1970's LMC's and I could find a dozen or so just sitting around and send them to that person how cool would that be. Now I am starting to ramble, so I will just shut up and let someone educated have the floor again.
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Pillar of the Community
United States
6326 Posts |
I've never been a copper hoarder......just "Classic coins" and also a silver & gold hoarder...  And with Cents....I'm only interested in pre-'58.....that makes my life easier !... 
Edited by eaglefoot 07/29/2008 08:34 am
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