| Author |
 Replies: 9 / Views: 1,560 |
|
|
Valued Member
United States
354 Posts |
Hey guys, I thought I needed answers from pros. Will 95% copper pennies ever be the next generation of junk silver coins? Maybe not as expensive but as sought after and looked for? And if so, will the junk silver coinage become the next pre-33 gold coinage? I know I made my self not very clear, but please give me some advice. Thanks, YNC  Edited by YNumismetals Collector
05/18/2016 9:34 pm
|
|
|
|
Pillar of the Community
United States
1191 Posts |
Probably not but we can sure dream.
|
|
Valued Member
United States
424 Posts |
IMHO I believe that copper is far too plentiful and easily smelted to ever raise to the level of silver. It seemed to me that there are several domestic mines that produce the stuff by the ton. If silver was ever produced in these amounts then perhaps it would drop to the level of copper.
|
|
Pillar of the Community
Canada
785 Posts |
A quick google search shows there is approximently,
700,000,000,000lbs of copper mined
3,000,000,000lbs of silver mined &
360,000,000lbs of gold ever mined
So this means the amount of silver to gold is about a 10:1 ratio while the amount of silver to copper is about a 1:240 ratio. Back to the original question, will copper pennies be the next junk silver? I do not think so. At least in my lifetime. Possibly in a few generations there will be a curiosity factor about them, but never enough to cause a premium that is more then the inflation of them. There is just too much copper out there for it to be considered a precious metal.
Will junk silver be the next gold coinage? I don't think so either. Gold is gold, unless there is some groundbreaking technological breakthrough that causes silver to be more in demand then gold (this will not happen), gold will always trump silver.
|
|
Pillar of the Community
United States
632 Posts |
I have a small (and I mean small compared to some of the hoards I've seen on here) amount of copper cents and I still pull whatever I find out of circulation. I do it basically because it's cheap to save them and I'm waiting to see if the government will discontinue minting the cent soon and I think when they do there will be a short boom where you could sell copper cents on e-bay for nice premiums.
|
|
Pillar of the Community
United States
901 Posts |
I collect copper I get in change. Sometimes I find an error coin, but I hate Zinclon's!
|
|
Valued Member
United Kingdom
195 Posts |
I could not resist:  |
|
Pillar of the Community
United States
1191 Posts |
|
|
Pillar of the Community
Norway
1358 Posts |
Well, technically a lot of copper coins are already past the point where their denomination is surpassed by their copper value. I believe a bronze (95% copper) US cent would now be about 1,5 cent in copper value. So better start saving them to get rich. :)
|
|
Valued Member
 United States
354 Posts |
|
| |
Replies: 9 / Views: 1,560 |
|
Posted 05/18/2016 9:32 pm
