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Copper Pennies

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Valued Member

United States
477 Posts
 Posted 07/20/2012  03:17 am Show Profile   Bookmark this topic Add greenprint to your friends list Get a Link to this Message Number of Subscribers
I get that at the moment copper pennies would seem like a good thing to hoard but if there are about 154 copper pennies in a pound then that must mean that copper must be above 1.54 cents a pounds for you copper pennies to be worth more than one penny.

"The price of copper has historically been unstable,[21] and it quintupled from the 60-year low of US$0.60/lb (US$1.32/kg) in June 1999 to US$3.75 per pound (US$8.27/kg) in May 2006. It dropped to US$2.40/lb (US$5.29/kg) in February 2007, then rebounded to US$3.50/lb (US$7.71/kg) in April 2007.[22] In February 2009, weakening global demand and a steep fall in commodity prices since the previous year's highs left copper prices at US$1.51/lb.[23]"

Makes me wounder if hoarding copper pennies is really a good idea.
Valued Member
Golden Nickel's Avatar
United States
116 Posts
 Posted 07/20/2012  11:00 am  Show Profile   Bookmark this reply Add Golden Nickel to your friends list Get a Link to this Reply
You never know maybe in the future copper will be worth something?
New Member
TexasCoinHunter's Avatar
United States
15 Posts
 Posted 07/20/2012  11:57 am  Show Profile   Bookmark this reply Add TexasCoinHunter to your friends list Get a Link to this Reply
In my opinion, your pound of pennies will always be worth $1.54...it's not like you're losing money to invest in them. If it goes to $1.50 or less a pound, you still have $1.54. If it stays at $3.50/lb, you've more than doubled your money. Either way, you're not losing anything.
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kookoox10's Avatar
United States
1054 Posts
 Posted 07/20/2012  12:29 pm  Show Profile   Bookmark this reply Add kookoox10 to your friends list Get a Link to this Reply
Like Texas pointed out, that's the beautiful thing about hoarding cents. The face value will always guarantee your money, can't say the same for copper tubing and various parts.
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Pertinax's Avatar
United Kingdom
2133 Posts
 Posted 07/20/2012  2:07 pm  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply
What TexasCoinHunter says is true and I had boxes of US cents and British pennies collected in just that way.

However, when in comes to moving house, they're a nuisance, heavy to carry, cause clutter.

my mum wasn't amused and later on girlfriends then my wife complained bitterly about them.

It's easy to collect them but as I found, extremely difficult to sell the common ones for more than safe value.

My local scrap merchants weren't interested in less than 50 Lbs weight and the price was a fraction of the market price.

I gave my pennies away to schools, thinking they might at least start some numismatic interest.
Bedrock of the Community
IndianGoldEagle's Avatar
United States
36415 Posts
 Posted 07/20/2012  3:14 pm  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
People said the same thing about 90% silver coins in 1965...are they worth saving? Actually, I like saving nickels better than copper cents, you get 75% copper in them plus nickel.
Valued Member
United States
477 Posts
 Posted 07/21/2012  11:36 am  Show Profile   Bookmark this reply Add greenprint to your friends list Get a Link to this Reply
ok well I don't fully understand is this
hyperinflation will occur, it's not a question of if but when
in this situation gold, silver, copper and any other commodity will greatly increase in value
if people are hoarding there copper pennies, silver, gold for a long term investment and waiting for the economic collapse of the dollar to cash out then...
by the time hyperinflation hits wouldn't the numismatic value of the coin out perform it's metal value?
I say we still have several decades, perhaps a couple of centuries, before hyperinflation actually hits (I don't think we are bad off as people think right now). In a hyperinflation scenario every will go up in value, including current worthless zinc cents, put again I would imagine the numismatic value by the time hyperinflation hits will out perform the material value.

I understand that any material asset will outperform the falling american dollar and that simply leaving your money in the bank will not beat inflation. Simply waiting for interest rates to go higher appears not to the solution. Interest rates are likely to get worse and in the long run this will happen as our economy gets weaker. Either way you still making money in worthless USD, weather interest rates are low or high.
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