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 Replies: 30 / Views: 3,825 |
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New Member
United States
4 Posts |
I have been storing away all my old copper cents for about six months now.it is actually what got me interested in collecting coins in the first place.i read somewhere a penny is worth twice as much as face value in weight.how long do you think it will be until the government takes them out of circulation.i see people are selling lots on ebay for Two Cents a piece already.I've accumulated around a hundred dollars worth already.am I crazy to think I can at least double my money this way |
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Bedrock of the Community
13014 Posts |
Only if you sell them in lots on ebay. They will never be legal to melt. Even if theyre taken out of circulation the government will want to be the ones getting the money for melting them plus even if they stop making them that doesn't mean they wont be used for a while anyway. You can still use kennedy halfs but those havent been made for circulation in quite some time |
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Bedrock of the Community
 United States
12840 Posts |
 kurlybill! Do the math and you'll realize that you're not going to get rich on $100 of copper cents unless there are more than a few key dates in there, which there most likely are not. But, eh, 100 bucks of cents doesn't really take up all that much room. Until you have to start storing your coppers in 55-gallon drums or your friends start making snide remarks about your penny hoarding habits and volunteering you for shows on A&E, you're probably ok. I have about that much (~$100) in a big glass jar and I only get a few snarky comments about them a week. :) |
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Pillar of the Community
United Arab Emirates
557 Posts |
Welcome kurlybill,
I don't know that you'll get rich off hoarding copper cents, but as you find them, no sense in spending them.
I keep all of mine and have quite a decent stash now.
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Valued Member
United States
148 Posts |
I save them. It's kindof fun. The coin shop sells copper rounds so it can't be that strange.
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Pillar of the Community
United Arab Emirates
557 Posts |
 Exactly Berk, pre '82 cents are in fact copper rounds. Pretty good price too. |
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New Member
 United States
4 Posts |
Yeah I have definitly had some friends laugh at me for saving my copper pennies.i know I will never get rich from them but I still cant help but think they will be worth more than face value.look at what has happened to silver since they have taken it out of our circulating coins.the worse thing that can happen is that they are worth a penny.nothing lost
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Pillar of the Community
United States
2168 Posts |
I see no harm in keeping them as well as nickels. While illegal to melt (as were pre 1964 dimes, quarters and halves at first) they still are 'real money' They could appreciate as the silver coins have in years to come. I see no harm in keeping these coins as a 'maybe' future item of greater value, no premium in them.
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Pillar of the Community
United States
830 Posts |
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Rest in Peace
United States
2668 Posts |
That's some cutting edge art!
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Valued Member
United States
292 Posts |
Three page "buying" ad in today's paper. First time I've seen Wheat pennies listed. They're paying 20% and up over face for 1958 & older. No mention of 59 - 82.
Up to 2100% on silver coins 1964 & older. Love that "and up" and "up to" Strange words on silver dollars and gold coins. They have columns for prices paid for "used" and "new". Never saw uncirculated described as "new".
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Pillar of the Community
United States
2168 Posts |
Maybe it has to do with being secondhand! In LA there is an extensive law on selling second hand!
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Pillar of the Community
United States
3184 Posts |
your not going to be rich but its something fun to do anyways
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New Member
United States
4 Posts |
I took a look at the staceylee weberlink go thunder posted and was amazed.i have never seen anything like that.too cool.i dont plan on getting rid of my pennies tommorrow.its not crazy to think in 5 years I could have More than500 dollars worth ofthem laying around.i put
them in penny rolls once I have a little bucket full and stash them in a box.not costing much or taking up space.i hope I'm the one laughing at my friends years from now when I'm selling my pennies for double what their worth 100 dollars at a time
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Pillar of the Community
United States
2168 Posts |
Well as a child we saved the silver coins and you know what happened with them!
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Pillar of the Community
United States
593 Posts |
Is it legal to deface pennies? I have a great book of science projects to do with my boys. One is getting an electrical current out of lemons using a series of copper and zinc rods. I suppose I could use copper from some scrap ROMEX wire, but I'm not sure where to get zinc. Then I thought I could use a pre '82 penny and a post '82 penny with the copper plating removed with a grinder. I would just throw away the post '82 pennies and spend the pre '82 pennies after I was done, but I don't want to teach my sons to violate federal law!
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Replies: 30 / Views: 3,825 |
Posted 01/13/2013 03:05 am
