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Is It Worthwhile To Hoard Copper Pennies?

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jbuck's Avatar
United States
164145 Posts
 Posted 11/25/2024  11:50 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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Do your hoarded copper cents include Wheaties or do you separate those out?
I keep mine separate.
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That's what I do but I don't have a ton of them lying around.

Quote:
Wrapping up cents is not cost effective to me.
I only have my Wheaties wrapped. All the others are kept in plastic containers.

My "hoard" is not large. I doubt I will ever reap a profit from them. My real goal is to find some kid who may be excited to have them for searching.
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Coinfrog's Avatar
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94367 Posts
 Posted 11/25/2024  12:06 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
That's a good philosophy. Certainly it makes no sense economically to store and haul them around in hopes of the melting ban being lifted.
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jbuck's Avatar
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164145 Posts
 Posted 11/25/2024  12:30 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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in hopes of the melting ban being lifted.
I would never sell them for melt, legal or not. These large hoards will be melted eventually, so I want to make sure something is saved for future generations.
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396 Posts
 Posted 12/16/2024  9:53 pm  Show Profile   Bookmark this reply Add AllSeasons to your friends list Get a Link to this Reply
60k copper pennies saved ... and counting! As they say, a penny saved is a penny earned
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jbuck's Avatar
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 Posted 12/17/2024  09:25 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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60k copper pennies saved ... and counting! As they say, a penny saved is a penny earned
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mysilveryears's Avatar
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 Posted 12/17/2024  4:09 pm  Show Profile   Bookmark this reply Add mysilveryears to your friends list Get a Link to this Reply

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60k copper pennies saved

I sure hope your floor joists are strong.

I'd be tempted to cash those in at the going rate and
turn the resulting funds into a few shiny silver discs.
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jbuck's Avatar
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 Posted 12/17/2024  4:16 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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I sure hope your floor joists are strong.
Basement slab?

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I'd be tempted to cash those in at the going rate and turn the resulting funds into a few shiny silver discs.
We are in agreement.
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 Posted 12/18/2024  10:39 pm  Show Profile   Bookmark this reply Add NumismaticsFTW to your friends list Get a Link to this Reply
We've already concluded that this endeavor is a waste of time, money and space.
You realize when you know how to think, it empowers you far beyond those who know only what to think.

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mysilveryears's Avatar
United States
1809 Posts
 Posted 12/20/2024  2:12 pm  Show Profile   Bookmark this reply Add mysilveryears to your friends list Get a Link to this Reply
This operation seems to be doing pretty well with their penny bulk.
Warning: If you are sensitive about what happens to some old cents,
such as wholesale hot melt destruction, you might not want to watch this.

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jbuck's Avatar
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164145 Posts
 Posted 12/22/2024  9:54 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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Warning: If you are sensitive about what happens to some old cents, such as wholesale hot melt destruction, you might not want to watch this.


Uneasiness aside, very interesting.
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 Posted 02/15/2025  11:36 pm  Show Profile   Bookmark this reply Add AllSeasons to your friends list Get a Link to this Reply
President Trump recently announced that the US Mint will stop minting cents. Maybe I should feel some vindication here
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MisterT's Avatar
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1858 Posts
 Posted 02/15/2025  11:47 pm  Show Profile   Bookmark this reply Add MisterT to your friends list Get a Link to this Reply
@AllSeasons, funny you should ask. I just clicked on an ad from one of the bullion dealers who is selling bags of 95% copper pennies for $5.99 LB. The hitch is that you have to buy a 34 pound minimum and the cost of shipping. Out of curiosity I just weighed up 3 jars that I have for a total of 27 pounds. Thats in the area of $160. So yes I will continue to cull out as much copper as I get but I won't go out of my way for it.
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BH1964's Avatar
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10966 Posts
 Posted 02/16/2025  01:29 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
At the current copper price there is about 3.2 cents worth of copper in each cent. So 10,000 cents ($100) weighing 68 pounds is worth about $320 with copper at $4.64/lb.

They would then have to be transported and refined to get pure copper so figure you could sell them for 2 cents each. You'd need to haul around 68 pounds of pre-82 cents to make $100. Plus the time and effort to sort, which most of us would be doing by hand. If you're time is worth more than $1/hour to you? You'd be making nothing.
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Spence's Avatar
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33127 Posts
 Posted 02/16/2025  02:43 am  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
@all even with that recent announcement, I still don't see hoarding cents as much of a money -maker. This shift in minting likely won't greatly increase the value of copper, which is what you would need to make the numbers work.

That is a good breakdown from @bh by the way.
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jbuck's Avatar
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164145 Posts
 Posted 02/16/2025  2:46 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Comparing apples, the Pre-1982 95% copper cents to oranges, the Zincoln.
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