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 Replies: 18 / Views: 1,881 |
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Pillar of the Community
 United States
5953 Posts |
With Copper closing at $2.31 per Pound on the 3rd and there being 0.95 copper in a pre 82 Cent.
That would make just under 155 Cents for a pound of copper. It is now more economical to trade in your pre 82 Cents than to spend them in a store.
I think I am going to try my local scrap dealer before I try putting my change in the bank next time.
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Pillar of the Community
United States
1327 Posts |
Do scrap yard really buy cents as copper. I might go try on monday I have some alumanum to trade in. And about how many coins make a pound
Edited by djluster
02/04/2006 1:40 pm
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Pillar of the Community
United States
980 Posts |
Haven't heard of anyone melting these in the US-I find that less than 1/4 of the cents I get in change are pre 1982.
I imagine a smelter would want a pretty large number to make it economically viable, but I don't know why coinstar isn't doing this with pre 82 cents.
Korea just announced that they will change the composition of their 10 won coin (exchange value approximately 1 US cent). It is 65% copper, 35% zinc, and evidently artisans are melting them to make jewelry there. There's a newpaper article about it in the coins in the news section
Don
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Pillar Of The Community
3147 Posts |
Well I sold Wheaties to my dealer this morning for 3 cents each so that would bring 155 wheaties to about $4.65 so my coin dealer would be better than a scrap dealer. I might mention the wheaties I took in sold 10 minutes later for $5.65 and the guy was happy to get them. Now I have never attempted to sell any cents from 1960 to 1982 so I don't have a clue if my dealer would even be interested as I never pay any attention but will start putting them back and thanks to knowhope587 for the heads up!
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Pillar of the Community
United States
7123 Posts |
I have been pulling pre 82's for the last couple of years,But if your going by the spot price , I think that per pound price is by the metric ton?
Rick
Edited by Metalman
02/04/2006 4:31 pm
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Pillar of the Community
 United States
5953 Posts |
I just checked with my local scap dealer and he is offering $1.60 a pound for Scrap copper So I would make 5 Cents on every pound I sold. No much but but if copper keeps on the rise It may be worth my while. He will buy in 50lb lots Minimum (Around $77.50 Face) So its $2.50 Profit on each transation. Next time we go to drop off our Cans I might try him with a 100lb bag and take my Red Book along so he can see the content. |
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Pillar of the Community
Australia
1091 Posts |
[:0] Melting coins! I'm just imaginging in 50 years time a collector reading this.[:0] Perhaps I should start the "Save the Lincoln pre-1982 cent campaign".  If other people in the country melt these coins then it's just a matter of time before these coins disappear from change. Then what will you think about... Gaining 5c a pound for these coins...or... I should of hung on to them. This of course is an emotional response to melting coins. I realize that many Billions of these were made and they are not rare. (Yet) |
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Valued Member
United States
108 Posts |
Buy 40% silver copper is not in the price of a 1000 dollar bag of silver.It comes to I think 60 dollars of free copper I think, AND Thanks you for the coins very neat!
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Pillar Of The Community
Turkey
1205 Posts |
In such a case toast, as the number of those cents decrease their value will increase so it will most probably come to a balance.
This was just a plain point of view, from collectors' angle, I agree, no coin should be disposed to temperatures higher than 35C :)
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Pillar of the Community
United States
5953 Posts |
Check out the metal detecting finds section then tell me you want to keep the coins there.When at home I sort through almost $100 in change every week pulling out the keepers and tossing the rest onto various jars.
Cents for my beer fund (An extra $2.50 every $78 is significant)
Nickels for the vegas fund
Dimes for the keep my truck running just one more year fund
Quarters always end up in the wifes jar for some reason.
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Bedrock of the Community
United States
12437 Posts |
quote:
Originally posted by toast
[:0] Melting coins!
I'm just imaginging in 50 years time a collector reading this.[:0]
Just imagine the coins that were melted a couple of decades ago when silver hit ~$50/oz courtesy of the Hunt brothers |
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Pillar of the Community
United States
626 Posts |
Unless my math is wrong, the mint should probably be looking in to a new compostion for the nickel soon. I got it figured that a nickel contains 3.7+ cents of metal, and then you would have to consider minting costs. If the price of copper and nickel keep rising like they have over the past 4 years, the mint will be losing money minting Jeffersons.
Has anyone tried selling any copper cents as scrap yet? I would be interested in hearing what came of it. I would think that one would have to melt them theirselves, to destroy the coin itself in order to try to reclaim it as scrap.
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Valued Member
United States
253 Posts |
 tell you what you scrap them ill hoard them pass them on to my grandchildren(when they come, not to soon I hope)maybe theyll be something  |
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Valued Member
United States
253 Posts |
tell you what you scrap them ill hoard them pass them on to my grandchildren(when they come, not to soon I hope)maybe theyll be something |
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Valued Member
United States
253 Posts |
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Pillar of the Community
Australia
1091 Posts |
I can remember buying a roll of candy for a nickel, now it's a dollar. Years ago coins had real value, and you could buy things with just a couple. Now you need a handful. So our coins worth is becoming less and less valuable. What can one cent buy? In Australia the government has done away with one and Two Cent Pieces as they are of so little value. Our smallest denomination coin is a 5 cent piece (worth nearly 3.7c US). While on a recent visit to Japan, a country with a big economy, they still maintain their 1 yen coin (worth about .85 of a US cent). It's made of aluminium and has such little value but the government keeps making them as its part of their culture to give exact change. So how far can the real value of a coin drop before there is a change? I ask RenaL how far did it go in Turkey before they re-valued the money? What was the lowest denomination coin worth during the years of high inflation? Will the USA give up its one cent coin or will it just keep making them out of cheaper and cheaper materials? |
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Replies: 18 / Views: 1,881 |
Posted 02/04/2006 2:50 pm
