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 Replies: 22 / Views: 5,405 |
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Valued Member
United States
129 Posts |
What does the spot price of copper have to get to per pound for the value of a copper penny to be worth more than a penny?
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Pillar of the Community
United States
2661 Posts |
There are roughly 147-150 copper cents to the pound. So I would say that copper would have to eclipse the $1.50 mark to achieve the increase in bullion value over face. Don't quot me on this, I am 99% positive that my calculations are correct If not someone will be along soon to set the record straight.
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Rest in Peace
United States
3039 Posts |
Copper needs to be at $3.07/lb for a 95% copper cents to be worth 2c.
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Valued Member
 United States
129 Posts |
Thanks for the info...so with the price of copper currently around $2.40 copper cents are already worth 50% more than face. I'm going to go get a box of pennies from the bank tommorow! I was wondering why all you roll hunters were getting so excited about finding copper cents...now I get it.
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Pillar of the Community
United States
4541 Posts |
today the exact value is $0.0159.  Edited by daviscfad
07/19/2009 12:38 pm
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Bedrock of the Community
United States
14454 Posts |
Quote:
I was wondering why all you roll hunters were getting so excited about finding copper cents...now I get it. Don't get to excited yet, it is illegal to melt down a copper Cent right now, so the only thing you can do is hold onto them in the hopes they will lift the ban on melting them down |
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Pillar of the Community
United States
2541 Posts |
I agree with Bryan. Unless the gov allows melting, the hoarding is pointless. Pennies aren't going to trade in bags like pre '64 silver coins because no one really cares about copper - it's not a precious metal. The pennies are worthless unless you can reprocess them as scrap. Even if the gov does allow melting, you can bet that every Joe isn't going to be allowed to start melting pennies in his basement. There will be some strict protocal - which means that some Senator will get his friend's smelting plant to be the only one allowed to melt them, and of course, he will coincidentally have a share of that business. Oh wait that already happened in SC...
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Bedrock of the Community
United States
19930 Posts |
Quote:
Don't get to excited yet, it is illegal to melt down a copper Cent right now, so the only thing you can do is hold onto them in the hopes they will lift the ban on melting them down
It doesn't really matter. They will trade as copper bullion rounds anyway. In fact, they're better unmelted because the weight and purity are guaranteed as cents. |
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Moderator
 United States
187569 Posts |
I agree with BadThad.
If people really found it necessary to melt coins to get the full value, then we would not have the seemingly unlimited supply of junk silver at coin dealers and shows.
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Valued Member
United States
323 Posts |
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Pillar of the Community
United States
3098 Posts |
[quote]In fact, they're better unmelted because the weight and purity are guaranteed as cents. [quote]  Plus, there just might be a few Wheaties! |
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Pillar of the Community
United States
3077 Posts |
not in my copper hoard but there is a very good chance of some 72 DDOs my eyes just aint good enuff to see them
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Bedrock of the Community
United States
17884 Posts |
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Oh wait that already happened in SC It was Ohio. |
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Pillar of the Community
United States
1807 Posts |
$0.0165011 is the melt value for the 1909-1982 copper cent on July 24, 2009. It was Jackson Metals in Ohio but I think it was just a rumor.
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Pillar of the Community
United States
1042 Posts |
Just a "sub-question" related to the original question posed... The 1982 Lincoln Cent... Is that date worth saving if your main reason for saving it is for the copper-value? What percentage of them were minted using the zinc? |
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Valued Member
United States
240 Posts |
You can check << (0124) This link is not allowed by the Staff >> .com to see what US and Canadian coins are worth as bullion. Base metal and silver are included.
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Replies: 22 / Views: 5,405 |
Posted 07/19/2009 11:00 am
