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 Replies: 56 / Views: 7,973 |
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Valued Member
United States
149 Posts |
Pennies aren't worth twice their value. They are brass, which is valued much less than bare bright copper.
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Pillar of the Community
United States
2168 Posts |
Pre 1982 pennies are 95percent copper. After that 97 percent Zinc and copper plated. In the US.
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Bedrock of the Community
13014 Posts |
Quote:
to me worth keeping some of the nickels and prior 1982 pennies that are worth over twice their actual value. Its worth it to sell them to someone who wants to hoard them, as far as keeping them you wont ever be allowed to melt them in any of our lifetimes. It costs the mint money to make pennies, the government isn't in the habit of letting someone else profit off their work. Theyd do it themselves if it was going to be done, but really theyd expect them to keep circulating for years to aid in a transition off them. |
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Valued Member
United States
410 Posts |
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The same could be say of how silver was in the 1960s so, to me worth keeping some of the nickels and prior 1982 pennies that are worth over twice their actual value. It is almost guaranteed that 25-30 years from now the copper in a nickel or penny will be worth many times the face value. That is simply due to inflation but if the price of a coin simply keeps up with inflation you haven't made a dime. Copper was $0.29 per pound in the 60's and 50 years later it is $3.50 a pound. $0.29 in 1963 is worth $2.21 in 2013. So copper has gone up 59% in 50 years and you would have made $1.29 a pound holding copper for 50 years. Was that a good investment? I would say no because to make any real money you would have to hold enormous quantities and store them for decades. The same is true today. |
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Pillar of the Community
United States
2168 Posts |
And older pennies can be kept at half price right now
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Pillar of the Community
United States
589 Posts |
Copper right now is a nice way to make cash (what people throw away and could be sold to a scrap yard...), plus the illegal harvesting of copper.
As a store of value, it's nice too. It'd make a dang nice return in a few hundred years once we hit peak copper and are on a massive decline in copper production. But, as a store of value now, the only way to utilize it to your benefit is in the markets (and, by having large, large amounts of it for the daily/weekly swings of 10-25 cents. Buy low and sell high. Storing it in your basement wouldn't afford you such an opportunity.
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Pillar of the Community
Canada
3692 Posts |
To clear things up: pennies are not brass, they are bronze. It is evident not only by their alloys but by their color.
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Bedrock of the Community
13014 Posts |
Straight from the US mint website for penny composition through time Quote:
The composition was pure copper from 1793 to 1837.
From 1837 to 1857, the cent was made of bronze (95 percent copper, and five percent tin and zinc).
From 1857, the cent was 88 percent copper and 12 percent nickel, giving the coin a whitish appearance.
The cent was again bronze (95 percent copper, and five percent tin and zinc) from 1864 to 1962.
(Note: In 1943, the coin's composition was changed to zinc-coated steel. This change was only for the year 1943 and was due to the critical use of copper for the war effort. However, a limited number of copper pennies were minted that year. You can read more about the rare, collectible 1943 copper penny in "What's So Special about the 1943 Copper Penny.")
In 1962, the cent's tin content, which was quite small, was removed. That made the metal composition of the cent 95 percent copper and 5 percent zinc.
The alloy remained 95 percent copper and 5 percent zinc until 1982, when the composition was changed to 97.5 percent zinc and 2.5 percent copper (copper-plated zinc). Cents of both compositions appeared in that year.
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Pillar of the Community
United States
3789 Posts |
hoarding copper is such a lose lose proposition, there is so much copper coming online that prices will remain depressed as they have been for a long time.
if you really want to hoard copper and keep it cheap and lock in cheap prices, the best way is via the financial markets.
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Pillar of the Community
Canada
815 Posts |
Copper is not a precious metal, but it is bullion. The problem is, all of the rounds/bars being sold are priced with at least a 400% markup.
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Pillar of the Community
Canada
815 Posts |
Also, can you harvest copper from bronze?
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Rest in Peace
United States
1501 Posts |
I don't really consider it to be a precious metal, but more of a pretty one. Whether it is a glowing red cent or a round/bar of an ounce or more, I think they have a pleasing look to them.   |
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Pillar of the Community
United States
3079 Posts |
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Pillar of the Community
United States
3079 Posts |
In re reading this thread I have noticed that some are referring to pennies as brass or bronze! THEY ARE NOT EITHER, they are zinc plated with copper which doesn't makes them brass or bronze! the jewelers resource guide shows that To be consider any of the hundreds of brass alloy's it must be at least 55%to95% copper with the rest zinc in matching % to equal 100% As for bronze is from 60%to95% copper with the remainder Tin with up to0.35% phosphorus added other than plumbing or Roman bronze which is 60Cu(Copper)/1Sn(tin)/33Zn(zinc)/6 Pb(lead)so pennies after mid 1982 are zinc plated in copper nothing else.  Edited by Circus
03/26/2014 10:18 am
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Pillar of the Community
United States
808 Posts |
The thing I like best about my common penny collection is that I have near zero expectation of any sort of meaningful price appreciation. What I do have, however, is a lifetime's worth good memories collecting pennies. And, ya know? Not once in all those years has the daily market price of anything ever spoiled my enjoyment of my collection. I certainly can't say that for silver or gold.
If you enjoy collecting pennies and private mint copper rounds, that's the only justification anyone should ever need. Sometimes, trying to look at everything as some sort of "investment" just takes away from the fun.
Edited by coinwatch
03/26/2014 1:40 pm
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Replies: 56 / Views: 7,973 |
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Posted 01/23/2014 12:59 pm
to finish and post some copper bullion coins that are being hawked as the right stuff for preppers, @ gun shows. These are 1/4 and 1/2 Ounce copper rounds a couple are plated.
