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How Much Longer Will Copper Cents Be In Circulation ?

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parkquarters's Avatar
United States
442 Posts
 Posted 03/19/2011  3:07 pm Show Profile   Bookmark this topic Add parkquarters to your friends list Get a Link to this Message Number of Subscribers
Poll Question
Keep on saving your pre 1983 copper Lincoln cents there worth 2.8 cents each

Who is saving them ?

http://www.pcgsblog.com/jaime/news/...-circulation

Poll Choices
 I am
 Im not

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John1's Avatar
United States
56855 Posts
 Posted 03/19/2011  3:22 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
I was saving them but when I tried to sell/auction them here on CCF I had no takers so I had to dump $800 to several banks.Now I no longer save them.
John1
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rkrj's Avatar
United States
277 Posts
 Posted 03/19/2011  3:33 pm  Show Profile   Bookmark this reply Add rkrj to your friends list Get a Link to this Reply
I am saving them. I think sometime in the next twenty years copper will be what silver is now. If I am wrong it won't cost me but about 6 to 10 dollars in interest I would have made on that money sitting in a saving account
Valued Member
United States
134 Posts
 Posted 03/19/2011  3:46 pm  Show Profile   Bookmark this reply Add iowaguy to your friends list Get a Link to this Reply
I started saving them and sorting bunch
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cladking's Avatar
United States
2271 Posts
 Posted 03/19/2011  5:20 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
Tough question.

The zincs evaporate almost as fast as they're minted since the metal oxidizes on contact with commerce but cents don't actually circulate anyway since they're worth less than nothing at all.

I'd guess that the redemption of coppers will start approaching less than 5% within a couple years and then their incidence will fall off fast. Figure they're 20% now, 15% in a year, 10% in two years and then they'll settle out around 5% until sanity scraps all the pennies out for proper disposal.
Time don't fly, it bounds and leaps.
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Darth Anarchus's Avatar
United States
1388 Posts
 Posted 03/19/2011  6:25 pm  Show Profile   Bookmark this reply Add Darth Anarchus to your friends list Get a Link to this Reply
I only like to keep the Mint State coppers, I tried saving them for awhile but when I started getting around $500 face value it started taking up a bit too much space... I think I will stick with silver
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tornandfrayed75's Avatar
United States
447 Posts
 Posted 03/19/2011  9:35 pm  Show Profile   Bookmark this reply Add tornandfrayed75 to your friends list Get a Link to this Reply
I save them up til I get $50.00 face then sell 'em on ebay.
Valued Member
United States
320 Posts
 Posted 03/19/2011  10:41 pm  Show Profile   Bookmark this reply Add Secret Argent Man to your friends list Get a Link to this Reply
I don't sort through boxes and boxes like many here do, so if I see it in my change, I keep it. I have one of those 1980's crayon banks and just throw it in there. If it ever got full I might think of doing something else. Not even close right now and with the diminishing amount of real copper in circulation I don't know that it ever will be.
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murrellington's Avatar
United States
3276 Posts
 Posted 03/20/2011  12:00 am  Show Profile   Bookmark this reply Add murrellington to your friends list Get a Link to this Reply
i voted I am not. I am saving them but selling them for profit right now. there is no way I will save them long term. it would take soooooo many to make a substantial gain in the future. storing them and keeping them would be a hassle and not worth it to me. but I search lincoln boxes and just set aside coppers to sell. works for me.
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BadThad's Avatar
United States
19948 Posts
 Posted 03/20/2011  12:18 am  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply

Quote:
I was saving them but when I tried to sell/auction them here on CCF I had no takers so I had to dump $800 to several banks.Now I no longer save them.


Ahhh....on CC most of your potential buyers are already saving them for themselves. LOL You gotta list copper cents on ebay.
Lincoln Cent Lover!
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Bacchus2's Avatar
United Kingdom
2874 Posts
 Posted 03/20/2011  05:39 am  Show Profile   Bookmark this reply Add Bacchus2 to your friends list Get a Link to this Reply
I don't know how much scrap metal goes for in the US but here in the UK it's £4 a kilo. I took an old copper hot water tank to the scrap merchants on Friday (I'm lucky in that there is one close by) and got £62 for it -- it was 15.5 kilos - they don't really want to bother with little amounts though. By my calculations that means £1,000 of pennies and 2p's is worth £1,480.
But that means a lot of gathering up.
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Tim Stroud's Avatar
United States
2661 Posts
 Posted 03/20/2011  08:25 am  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
I have better things to do than sit and sort boxes of cents on the weekend or paying $500 for a machine to do it when the melt ban may never be lifted. I may be missing the boat on this one, but remember this, boats sink.
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United States
632 Posts
 Posted 03/20/2011  10:35 am  Show Profile   Bookmark this reply Add willy13 to your friends list Get a Link to this Reply
If silver coins were still more than 1% circulation (i have no idea what the % is, just a guess...), I would be searching for silver. I just dont have the patients to go through 5 boxes without finding 1 silver coin. So since copper is at about 20-25%, that is what I pull from circulation and save.:)
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parkquarters's Avatar
United States
442 Posts
 Posted 03/20/2011  1:39 pm  Show Profile   Bookmark this reply Add parkquarters to your friends list Get a Link to this Reply
Off topic but I just got news that my brother just took off in a b-2 bomber to libya after gadhafi's head

http://www.usatoday.com/news/world/...m?csp=34news
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hockingzig's Avatar
United States
1450 Posts
 Posted 03/20/2011  8:06 pm  Show Profile   Bookmark this reply Add hockingzig to your friends list Get a Link to this Reply
Tell him,"best of luck in that endeavor". Also tell him to stay safe,they are all in my prayers!
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parkquarters's Avatar
United States
442 Posts
 Posted 03/20/2011  10:09 pm  Show Profile   Bookmark this reply Add parkquarters to your friends list Get a Link to this Reply
Thanks Hockingzig for your kind gesture let the lord be with them .
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