U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Hobbies and Recreation > Collecting and Antiques
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-26-2012, 08:53 AM
 
29,988 posts, read 37,219,198 times
Reputation: 12765

Advertisements

Quote:
Originally Posted by JGA1 View Post
First off, the Copper Lincoln Cents (1909-1982) are 95% copper, 5% Zinc ..... they are not "bronze" (excepting some wartime issues) and it takes somewhere around 130 cents to make one pure pound of copper ($1.30+). At current copper prices a profit can be made on each roll.
I understand the difference in value with the copper valuation but where do you actually take the 95% copper pennies to make your profit? A pawn shop?

Just asking because taking to a metal recycler wouldn't make any sense as the destruction of US currency is illegal, isn't it?
Reply With Quote Quick reply to this message

 
Old 01-26-2012, 11:48 PM
 
Location: Metromess
11,798 posts, read 21,981,222 times
Reputation: 5074
I wish the conversation could get back to coin collecting and away from copper bullion value. If one has pennies that old, it would make more sense to appraise each coin as to date, mintmark and condition.
Reply With Quote Quick reply to this message
 
Old 01-27-2012, 01:54 AM
Status: "Support the Mining Law of 1872" (set 10 days ago)
 
Location: Cody, WY
9,581 posts, read 10,926,696 times
Reputation: 19215
Quote:
Originally Posted by catman View Post
I wish the conversation could get back to coin collecting and away from copper bullion value. If one has pennies that old, it would make more sense to appraise each coin as to date, mintmark and condition.
Most of the good dates are the Wheaties, 1958 and older. But I could sort out the copper and find more goodies than in the zinc. However, there aren't that many circulated coins with much value as a percentage of what you'll find.

Plenty of numismatists become gold bugs; the opposite is true as well. When I was in Canada with my parents as a boy I remember my mother's being enthralled by a savonette, a 100 gram gold bar, a bit more than three ounces (31.1 grams to the troy ounce). She decided to buy one each for herself, my father, and me. Then she talked to my aunt on the phone who wanted some. We came back with them hidden in the car. It was illegal for Americans to own gold bullion or any coins minted after 1933 with just a few exceptions. Recent gold coins were easily available though illegal until 1959, but not the ingots. I later learned with great pleasure that the savonette was the preferred size of smugglers throughout the world. The name means a "little bar of soap", that is, a hotel size bar, in French; that's about the size of the gold bar.

Our cents were made to standards of copper bullion until 1982. The US bronze (copper alloy) small cent weighed 2 pennyweights (48 grains) until 1982. Ten of them weighed one troy ounce and 120 of them one troy pound. The troy pound is an important unit of several ancient weight standards and traceable back over 4500 years in Egypt.
Reply With Quote Quick reply to this message
 
Old 01-29-2012, 01:46 AM
 
Location: Metromess
11,798 posts, read 21,981,222 times
Reputation: 5074
Yes, I was thinking of the Wheaties. There are still a few to be found in change. When I get one, I save it.

That 3+ ounce gold bar would be worth over $5K these days!
Reply With Quote Quick reply to this message
 
Old 01-29-2012, 03:14 AM
Status: "Support the Mining Law of 1872" (set 10 days ago)
 
Location: Cody, WY
9,581 posts, read 10,926,696 times
Reputation: 19215
Quote:
Originally Posted by catman View Post
Yes, I was thinking of the Wheaties. There are still a few to be found in change. When I get one, I save it.

That 3+ ounce gold bar wouldbe worth over $5K these days!
Reply With Quote Quick reply to this message
 
Old 01-30-2012, 02:31 AM
 
4 posts, read 3,180 times
Reputation: 10
Quote:
Originally Posted by The Continental View Post
So what kind of value does a pound of 1982 or older pennies bring?
Currently, copper is at $3.0954 a pound, it's down about $1.90 a pound from previous market price. So, you do the math .......... $3.09 minus $1.30 = $1.79 profit ......... not too shabby.

I see even on e-Bay rolls of 95% copper "pennies" are starting to be up for grabs. Also, (coin) dealers are now selling one ounce copper "rounds" ........ so, something is in the wind.

I am old enough to remember when silver went above the face value of our dimes, quarters and half dollars. Once they were plentiful - then they were nearly unheard of in change. I predict that it will not be long before the lowly 95% copper penny will soon too vanish due to the intrinsic value vs the face value.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Hobbies and Recreation > Collecting and Antiques
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top