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 Replies: 39 / Views: 5,759 |
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Valued Member
Canada
54 Posts |
In Canada pennies were discontinued. My pennies are at over 3 cents now in melt value and I see no reason I can't smelt them down if I wanted.
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Pillar of the Community
Australia
1333 Posts |
@jgfindring So is buying low yield government bonds (negative real rates), yet insurance and pension fund still buy them.
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Bedrock of the Community
United States
94367 Posts |
Saving the old copper cents for their bullion value seems like idiocy to me; the implied time, storage, and transportation costs to ever convert these silly things to hard cash is a losing proposition with just a few minutes of thought, much less putting pen to paper.  |
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Moderator
 United States
190118 Posts |
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Pillar of the Community
Canada
5404 Posts |
saving old bronze pennies , like roll hunting ......
Monetized , you might as well take a McJob .
Total waste of time you will never get back .
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Bedrock of the Community
United States
19254 Posts |
Just think what you could trade for if you had a wheelbarrow full of copper cents in a post apocalyptic world--bar of soap, maybe?
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Moderator
United States
190118 Posts |
All bets are off post-apocalypse. Barter will rule then.  |
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Pillar of the Community
United States
3671 Posts |
Key reasons to hoard bronze cents [tongue in cheek]:  Variety hunting. True, it's generally a pretty small profit margin. The time required to attribute a run of the mill 1960-D RPM would make the coin worth negative ten or fifteen dollars. But these attributed coins will readily sell for fifty cents each in most coin shows. To cover your floors, walls, and ceilings with them, turn your house into a Faraday cage, eliminate radio signal interference, and build an interference-isolated home recording studio. If the house doesn't collapse first, and if the local building codes allow it and if your neighbors, friends, and family don't have you taken for an evaluation first. Doorstops, in coffee cans. They work wonders there. To annoy the heck out of your heirs. Imagine their surprise when they find 28.7 tons of cents in the basement! The reality is that the Sn and Zn in the bronze alloy would swallow most paper profits, even if melting the coins was legal, which it isn't. It's the same reason why Wartime Nickels sell for a small fraction of melt, and they aren't currently legal to melt either. The only real play for Cu is scrap copper pipes and wiring. They are legal to melt, have high quality copper, and bring a decent percent of melt value. |
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Pillar of the Community
United States
2869 Posts |
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Moderator
United States
190118 Posts |
Quote:
Key reasons to hoard bronze cents [tongue in cheek]: Excellent list!  Quote:
Doorstops, in coffee cans. They work wonders there. Speaking of doors... Anyone ever "penny lock" a door while at university?  Quote:
The only real play for Cu is scrap copper pipes and wiring. They are legal to melt, have high quality copper, and bring a decent percent of melt value. True.  |
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Bedrock of the Community
United Kingdom
18017 Posts |
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Moderator
United States
190118 Posts |
Impressive!  |
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Pillar of the Community
United States
2637 Posts |
Quote:
Just think what you could trade for if you had a wheelbarrow full of copper cents in a post apocalyptic world--bar of soap, maybe? Is Weimar Germany apocalyptic enough? The story is told of a German pastor who didn't bother depositing the 1, 2, 5, 10, and 20 pfenning coins left in the offering plate. He simply dropped them in a tub or crock. Lo and behold, when the hyperinflation hit, the stores would accept the imperial German small change at substantially the same value as when it was issued -- where paper money was refused or became impractical to use. His earlier dismissive tossing of the coins that were too small to deposit thus helped him cope with the hyperinflationary period. |
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Pillar of the Community
United States
2637 Posts |
Quote:
Anyone ever "penny lock" a door while at university? We nickel locked a guy. He didn't appreciate being made late for work. |
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Moderator
United States
190118 Posts |
Quote:
The story is told of a German pastor who didn't bother depositing the 1, 2, 5, 10, and 20 pfenning coins left in the offering plate... His earlier dismissive tossing of the coins that were too small to deposit thus helped him cope with the hyperinflationary period. Impressive! Quote:
We nickel locked a guy. He didn't appreciate being made late for work.  |
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Replies: 39 / Views: 5,759 |
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Posted 06/11/2021 7:48 pm
