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Replies: 22 / Views: 2,094 |
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New Member
United States
6 Posts |
I went through 2,500 pennies today. I did not find much other than 1955 canadian penny, 2 1985 canadian pennies, 2 dimes, and 4 wheat pennies. I did however find quite abit of coins that were 1959-1982. Are these coins worth keeping or should I put them back in the rolls and go exchange them? 
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Moderator
 United States
56855 Posts |
Saawheat, First let me say  to CCF,i am sure you will like it here VERY much  . I am a Lincoln Cent Roll Hound and I go through about one box of Lincolns a week and I keep all of the 1959-1981's that I find only because they are 95% copper and I am hoping copper price will go up some more. I also find a lot of varieties and a few errors so look for those when your searching coins. John1
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Valued Member
United States
116 Posts |
Not sure I have an opinion, but I did make a personal decision on this. I pull them and put them in a plastic peanut butter jar. (understand some plastic is really bad for coins) Then when I get some spare time I look closely at them. If they grade EF or higher, then I keep them and the rest goes back to the bank.
Copper value - well it's my understanding it against the law to melt coins and wouldn't think a legal scrap dealer would buy them for copper. Plus the melting point of copper is 1,980+ degree F.- not really a project for the garage. Another thought - assume big copper crisis and government/bank announces it will pay 10 cent for all copper cents turned in - they will pull all they have and/or can get. In this case - my grade EF and above should really be valuable for the coin itself to collectors due to the government melt of current mintage.
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Pillar of the Community
United States
2373 Posts |
I search boxes occasionally also. My kids and I cull all the pre-1982 pennies and they go in pickle jars. Lots of pickle jars. Kids like pickles! I see merit in CoyoteMoss's senario or lifting the ban on melt to increase the supply of raw copper as the costs of mining escalate and reserves deplete. That is when the real value of the old Lincolns will be determined. nlp
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Pillar of the Community
United States
2600 Posts |
saawheat, I agree with everyone here except that from 59 thru 1980 I keep only red AUs and better. I to have been keeping copper until recently. I already have three 5 gal buckets 2/3s full of copper cents and many other jugs and jars. Decided enough was enough. When I first started roll searching I tended to keep most everything and it was not long before I realized that there was always more coming. Now, unless the coin is really something unique, back it goes. I am now primarily looking for wheats, proofs, errors and things that are unusual. You can only keep so much before the wife protests. ;)
Jim
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Valued Member
United States
84 Posts |
It depends on why your searching the pennies. I search mostly for errors and upgrading my books. Saving the copper pennies is an added bonus. I have about 300 some LB's saved so far. When I hit 1,000 LB's , thats my goal. When copper hits $5 LB.  I'll cash in. Gives me something to do while I play online poker. I have found some nice errors too and one roll had 5 dimes in it. lol
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Valued Member
United States
227 Posts |
I would say hold on to some nicer ones but I wouldn't hold a ton of them. Pun intended. But seriously a lot of people have had this idea so I don't think you'll see any numismatic appreciation in value of these coins because so many people are pulling these coins. it would however be nice to have some nice ones down the road.
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Bedrock of the Community
United States
14454 Posts |
as far as I know the Govt. still has a ban on melting down coins (atleast copper cents anyway) but I think allot of people are still hoarding all the copper cents they can find just in case they lift the ban. I don't search through coins like this but if I did I would probably do like was said in earlier posts and keep maybe one of each date and then keep the nicest ones of each date and if I found one nicer at a later date I would swap them out for the nicer ones
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New Member
 United States
6 Posts |
Thank you for all the help eveyone. I added the copper pennies I found yesterday and the number was roughly 700 copper pennies. I filled a 1975-current LMC folder minus the 2001, I could not find one in there at all. I will search through the copper and see which ones are of a higher grade and send the rest back. On another note I'm sure I will like it here, everyone seems to be really nice!
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Moderator
 United States
16677 Posts |
I am with coinsrus on this one.  to the forum.
swcoin.ecrater.com
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Bedrock of the Community
United States
19931 Posts |
I keep the copper and don't ignore the 1982 coppers. They are easy to pick out. I also look for nice MS grade BU in all years. I've plucked very few nice BU's from 1959 up. I get excited finding a nice, MS BU 1970's Lincoln, they are harder to find than you'd think. I might get one per box that's nice. The zinc BU's must be nearly perfect before I save them. I think it will make for a nice stash, I could put together BU rolls with them. I might try to do a BU roll set from 1959 up.
Of course, I search for wheats and wide/close AM's.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
2049 Posts |
I keep all 95% copper cents as well. At one time this year, the copper value was close to 2 1/2 to 3 cents per penny and the pennies were selling for around $90 per $50 face value. So some people were making a nice profit on these. Copper prices are way down right now but what does it hurt to save these? The worst case scenario is that they are worth 1 cent each...exactly what you paid for them.
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Moderator
 United States
187702 Posts |
 to the forum. I have been keeping all pre-Zincoln Lincolns as well. I say if you can afford to keep them, then keep them. IMHO, you have nothing to lose! 
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Bedrock of the Community
United States
14454 Posts |
I guess I am bias, I can't stand seeing those little coins in my pocket so I sure as heck don't want them laying around my house.
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Pillar of the Community
United States
2540 Posts |
#1: Welcome #2: spend them.
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Pillar of the Community
United States
869 Posts |
I only keep Lincoln's up to 1979 and only if there is minimal damage. If they do lift a ban for melt I will then spend the time to grade and 2x2 some of them. I will roll some up from now and then and try to find a key date to spend them on it save lots of room. I agree with nlp use glass jars for storage and also keep out of the sun the attic is the best storage place warm,dry and dark.
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Replies: 22 / Views: 2,094 |