| Author |
 Replies: 8 / Views: 1,205 |
|
|
Valued Member
United States
226 Posts |
Over the winter I was able to search 16 Fed. boxes of pennies which provided many hours of entertainment.  I assembled five complete Littleton archive folder memorial sets: 1959-1998 (with all 7 1982 types) and 75% of them are mint state red. I was pleasantly surprised to find 63 wheaties (7 pre-1930), 1 1907 IHC G4, 23 pre-1970 canadian cents. Never was able to find that darn 1992D Close AM though  I also re-rolled 4 boxes of pre 82's and returned the zinc's back to the bank. But now have 70 lbs. of pennies taking up space at the bottom of my safe. Although melt value is approximately $250, I don't think you could ever actually be able to get that. What would they go for on E-bay ? or should I just consider them part of my collection now?  |
|
|
|
Member
United States
3242 Posts |
that up to you but I would wait till after the 2009's are out to sell my old copper cents it may make $250.00 melt wheat & LMC*I would think you would make lot more if you sell in rolls? |
|
Valued Member
United States
392 Posts |
I sold 13 lbs of copper on ebay about a month ago and got $30 for it. |
|
Valued Member
 United States
226 Posts |
I suspect that if they don't do away with the cent all together they will have to change the alloy composition (2009 ?) and that might add value to the copper cents.
|
|
Pillar of the Community
United States
615 Posts |
i think the melt ban will go away once they start producing enough steel/whatever cents to handle the mass removal that will happen by Jackson Metals.
-SWUSC
|
|
Valued Member
United States
429 Posts |
I hope what BadThad says is true because that is the same theory I am going with right now. I am trying to search through as many rolls as possible and saving the 'red' and higher grade coins for the fact I feel the price will jump next year. With all the updates to coins to get people involved in collecting seems to really be working and I just hope that it will pay off in the long end, and not like my Star Wars collection when they made the last trilogy.
|
|
Valued Member
United States
271 Posts |
There has been all this talk of changing composition of the penny in 2009, but according to the US Mint, the 2009 will only change in reverse design (in honor of the bicentennial of President Lincoln's birth), and not in composition. Here's the page http://www.usmint.gov/mint_programs...gn/index.cfmAs for all that copper, perhaps find a local metal scrap company and see if they'll pay you close to spot...even with the melt ban, some companies might be stocking up....ya never know =) |
|
Pillar of the Community
United States
6326 Posts |
As far as saving pennies for "melt value"........hummmmm......to me the tonnage you would need for it to be worthwhile and the space it'd take up.......are the two biggies for me......
|
|
Bedrock of the Community
United States
12437 Posts |
Quote:
There has been all this talk of changing composition of the penny in 2009, but according to the US Mint, the 2009 will only change in reverse design (in honor of the bicentennial of President Lincoln's birth), and not in composition.
It is not definite yet, but on May 8, The US House of Representatives passed "Coin Modernization and Taxpayer Savings Act of 2008," H.R. 5512 which would change the composition of the cent and nickel to copper plated and nickel plated steel respectively. If it passes the Senate this year(and Presidential signing) the composition change will happen in 2009. http://numismaster.com/ta/numis/Art...ticleId=4429 |
| |
Replies: 8 / Views: 1,205 |
|
Posted 05/31/2008 3:34 pm
