Is It Worth It To Hoard Copper Pennies? - Page 2

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Author	Replies: 19 / Views: 6,976	Page: of 2

wquinn Pillar of the Community United States 2295 Posts	Posted 05/22/2012 12:04 pm Like others have said, there is a second market for them to sell above face value, so if you can get them at your bank for face value, you can make a small profit. More and more people are doing it, so will the extra competition drive down the price in the near future? Report this Post to the Staff
eaglefoot Pillar of the Community United States 6326 Posts	Posted 05/22/2012 12:37 pm Quote: Is it worth it to hoard copper pennies? No Edited by eaglefoot 05/22/2012 12:38 pm Report this Post to the Staff
fioti Pillar of the Community United States 4212 Posts	Posted 05/22/2012 12:39 pm If you spend ALOT of time with grandkids like I do,few things keep them busier. Plus, the wheats are already sorted for me. Report this Post to the Staff
Spider5689 Pillar of the Community United States 2269 Posts	Posted 05/23/2012 04:58 am I used to sort Wheat cents for my grandmother when I was a kid, I used to enjoy it. As for hoarding copper cents; if the Lincoln Cent was eliminated from circulation, then it would be legal to melt the copper ones. Anyone who melts copper cents would definitely profit if the spot price remained the same or rose in value. There is also a secondary market for these. Just check out completed auctions on ebay. It is not uncommon to sell $50 worth of copper cents for $75. In my opinion hoarding copper cents is a win/win situation. If the spot price of copper drops, a cent will still be worth a cent. Report this Post to the Staff
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