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 Replies: 20 / Views: 7,311 |
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New Member
United States
25 Posts |
Ok, I know the pennies made before 1982 contain 95% copper, so people that save all pre-1982 pennies for the copper, correct? Later, do they plan on melting them into copper bricks? Wouldn't that cost more than the money you would make on the copper? I am new, sorry if these are very dumb questions.  |
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Valued Member
United States
277 Posts |
It's still illegal to melt the coins. So either hoard them, sell them to someone else that will hoard them or just don't bother with them. Those are the three options at the moment
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Moderator
 United States
188122 Posts |
I am keeping them to prevent the from being melted.  They are easily traded as bullion now. Just like junk silver, there is no need to melt them. |
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Rest in Peace
United States
3039 Posts |
With the rise in copper price, a copper cent now has just at 3c in copper. Might as well save a few to see what happens.
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Pillar of the Community
United States
2130 Posts |
I save all copper cents. I weight the 82's to determine which ones are copper.  |
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Pillar of the Community
United States
4000 Posts |
I keep them because:
A) they just don't make them anymore, and
B) eventually all the new collectors will need them to fill their albums!
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Valued Member
United States
212 Posts |
Sometimes laws change. Maybe the melting ban will be lifted someday. Who knows. I think it will. I agree with "Numismo", might as well save a few to see what happens. Buying rolls at a bank and searching them produces on average 12-15 copper cents per roll. Plus you can search for wheaties and errors at the same time. It's actually kind of fun. Copper is at $4.49 per pound. Takes 153 cents to make a pound.
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Valued Member
United States
117 Posts |
I am with Scooby Due on this one. They are a relic of the past.
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Pillar of the Community
United States
1599 Posts |
Unless you have storage space problems; why not? They are really easy to find while searching for varieties, etc, searching for them is cheaper than going to the movies, its lots of fun and who knows, they may actually be worth something in the future (how's your 401k doing?).
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Pillar of the Community
United States
3592 Posts |
I just put them aside as I search and sell in $100 FV lots...averaging $170. Since I'm retired, the extra coin money was a no brainer.I bought a nice 1972P-DDO1 with profits from the first $300.
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New Member
 United States
25 Posts |
Thanks for the info guys. I have been saving them, it just seemed like the right thing to do, and as I was sorting them out in the table, I just thought, WHY?
Now I have a better idea, thanks!
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Valued Member
United States
155 Posts |
I'm saving a few pounds because everyone else is doing it.
Peer pressure and coin collecting go hand in hand. Haha
No, I'm of the "save and see what happens" persuasion.
They do kind of get in the way sometimes though.
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Valued Member
United States
114 Posts |
I have been Hoarding them myself ever sense my Dad gave me about 30 White pain buckets full of them last time he came up to visit.
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Valued Member
United States
373 Posts |
I collect pre-1983 cents just for fun right now. The copper element also keeps me interested. Just searching through rolls of pennies, you can find IHC's, Canadian cents, Bahama cents, wheaties, errors, and of course 1959-1981(1982) zincolns. And yes, I found a Bahamas cent, and a 1920-something wheatie that was in AG/G condition this past week - couldn't read the full date. So, collecting zincolns may be my main goal along with finding wheaties when I search through rolls of pennies. One thing that irritates me is when I find a nice coin, and one side is nice, but the other side is not nice. |
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Pillar of the Community
United States
4000 Posts |
Quote:
One thing that irritates me is when I find a nice coin, and one side is nice, but the other side is not nice. I hear ya! The zincolns are like that. I get nervous when I'm holding an '88, '92, or '99 and it looks really nice on the obverse. Yet another reason to hang on to copper: that's the last time it will ever feel like real money again. |
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Pillar of the Community
United States
3283 Posts |
My wife makes fun of me and calls me a hoarder because of my vast copper collection. I got to have at least 2 whole pounds by now  |
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Replies: 20 / Views: 7,311 |
Posted 02/15/2011 4:57 pm
