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 Replies: 11 / Views: 5,900 |
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Pillar of the Community
Canada
3692 Posts |
Poll Question
I have a minor dilemma. What should I do with all of my Magnetic Pennies? I have roughly $25-30 of just mags sitting around. I really don't want to search them since I had to buy all those paper wrappers and banks are so stingy with their own supply. We really ought to have a coin bag system in Canada. Anyways, what should I do with these? Cash them in? Trade them in the future for something else? I have a feeling that magnetic cents will enjoy their place in a quiet niche market once cents are phased out of circulation altogether (produced only for several years here and there). None of them are mint-state, so forget that. I did, however, go through the pain in the gulliver to separate them from the zincers, which I cash in.
(I have much more copper than magnetics, by the way, so more wouldn't necessarily hurt. I have the space for either.)
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Valued Member
Canada
386 Posts |
Unless they are 1999P, 2000P, 2001P, 2006P, 2006(no logo) magnetic, 2010 magnetic or 2011 magnetic, return them back to the wild. I doubt you will see much appreciation in value for a long time.
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Valued Member
Canada
311 Posts |
Why not take the pure copper ones to a metal recycler, would you not get more per pound there than face value at a bank? Or are there enough to make it worthwhile?
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Valued Member
United States
322 Posts |
I am not sure, are these Canadian? I never heard US pennies magnetic. Am I missing something? But 1945v is talking about P mint. Does Canada has P mint too?
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Valued Member
Canada
372 Posts |
You do not have to roll anymore.Many banks have the coin machine which count them for you and print a receipt for you to cash at the teller window.
I have seen one this winter at the TD Bank in Davie Florida where you could win a price if you guess within a dollar how many pennies you have .
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Valued Member
United States
200 Posts |
Yes, Samuel, we are talking about Canadian cents. Maybe the following will help~~~~
Starting in 2002, Canada began issuing TWO separate composition cents, one was copper-plated steel, and the other was copper-plated zinc, {like the 1982 zinc and copper U.S. cent compositions}. They've been running from 2002 side by side up the recent present, as 1945V states.
The "P" was added on the obverse under the queen's effigy on the obverse to differentiate the coins. The P really isn't a mintmark, but is used to designate that the coin is the steel composition, not the zinc composition. And, that's why above posters refer to the magnetic vs. non-magnetic compositions.
BTW, are you forgetting the U.S. WW II steel 1943 cent?
Edited by Tam
05/09/2011 09:40 am
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Valued Member
United States
322 Posts |
Ha ha, thanks Tam.
I started testing my pennies with magnet.
I know the 1943 steel pennies.
Uncle Al, can you recycle/melted coins in Canada? Just curious.
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Pillar of the Community
Canada
1733 Posts |
we can melt all denominations of USA coins legally, except for US dollars due to an ancient law which apparently still applies. In theory it's illegal to melt our own, reality is different but I imagine if they caught us melting zinc pennies there would be heck to pay.
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Pillar of the Community
 Canada
3692 Posts |
2001 P? You mean the fact that it is only found in sets? Is it proof or proof-like, as in easy to find via edges?
Trends says the 2000 P does not exist. Charlton states that 8 known copies exist in mint state. Kunfyoozd.
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Pillar of the Community
Canada
902 Posts |
Everything with a P starting in 1999 should be magnetic, except for the most expensive one, a 2006P zinc.
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Valued Member
Canada
51 Posts |
Okay so there is a:
- 2002 (1952-2002) non-magnetic
- 2002P (1952-2002) magnetic
Are there any variations of these two coins - magnetic, regular date, or otherwise? For some reason I have in my notes that there was a rare 2002P (regular date) non-magnetic, and a 2002 (regular date) magnetic.
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Pillar of the Community
Canada
902 Posts |
There are only the 2 double date for 2002 larry
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Replies: 11 / Views: 5,900 |
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Posted 05/08/2011 1:45 pm
