Is Hoarding Pre-1982 Copper Cents Pointless!

When the penny is no longer minted, which might not be very long, and businesses don't want them circulating, it will become legal to melt copper pennies. Then the copper penny hoarders will be able to turn a profit with little to no investment. When you look at it in a % return it isn't a bad idea.

 

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I put them aside, and pull them when I get boxes

 

now that is a good centerpiece for a table

 

Just remember, people thought that hoarding silver was silly back in the 1960's

 

Would any of us really and truely melt a cent???

:smile

I sort of doubt that coin collections, like the bunch on CT, would ever seriously consider melting a nice looking coin. Now, maybe one that is already bent and grinded down, but not a one that still looks healthy.

Anyone care to cast a vote??? Maybe, I am just too sentimental. The old Morgans and Mercury dimes have significant melt value already, and no matter the spot price, I would not melt. Even if I was hungry, I think I would sell to someone who would not melt them.

 

You are correct about actually melting a viable coin, but the value of these cents will match or surpass what their melt value would be anyway.

 

If people want copper, you can buy pure .999 1 oz copper rounds on ebay that have proof finishes and are very attractive for 1.85 or less, shipped. Most rolls come with a good hard plastic, square tube worth a buck or two. Then you at least know what you've got in an easier to handle form that is already pure.

With billions of cents out there, I don't think it's worth saving bucket fulls of them. Just too many and too many people already doing it. Comparing them to silver is just not the same. There were only a few hundred million silver quarters total, ever, in circulation. I think there were some years they made over a billion cents in one year. Copper would have to get obscenely expensive before I'd give them a passing glance.

I keep a box of a couple hundred wheat cents. That's about all I need other than a few good ones in my collection.

 

As stated many times in this thread.....you can sell these cents for a premium RIGHT NOW on ebay. So, as I search rolls of cents looking for wheaties, WAMs CLAMs, DDOs, etc., setting every copper memorial aside takes no time, and actually helps the process as I feel I'm accomplishing something. Then, at worst, I turn them in for face....at 2nd best, I sell them on ebay and make $25 bucks or more, or at best, the melt ban is lifted and I make 290% increase my investment (current melt value).

Why wouldn't I save these? It seems foolish not to. JMHO.

 

I find that only a year after I first started this thread that there is definitely a gaining momentum for hoarding these copper cents! I am also finding less and less in circulation.

 

They should... 1982/pre-82 v 1982/post-82 cents have significantly different masses.

I'm not sure this would make event the least bit of sense. Copper sells for $4.40 per pound. Buying 1 oz rounds for $1.85 would require a 573% increase in the spot price of copper, just to break even.

 

Hoarding still in the lead!

 

I started keeping all my silver quarters in 1965. People said "Why", they only have 26c worth of silver. lol Truly, a lot of people thought it was a waste of time when silver was 1.50 an ounce. Today I am glad I did. I regret not completing my Washington silver collection when I got home from overseas, but sure am glad I still had a bunch of Silver quarters saved.

Sometimes you make the right call.

gary

 

I wish I was alive in 1965

 

My 10 year old daughter gets $10 in penny rolls per week and my 5 year old son gets $4 in nickels. They save the shiny ones and the copper pennies go in a jug. Someday it may be worth it but for now it gives us some inexpensive, fun family time. We don't cherish the pennies but do the time.

 

Yep. Just put those pennies away and hang on to them for 35 - 40 years and you'll make a killing.

 

Too bad people are already making a killing off copper cents right now and have been for months on eBay.

 

That statement makes me think of my time travel fantasy:
(I am going to start a new thread entitled "Time Travel Fantasy".

 

>Should You Hoard, Savings Account, or Just Spend Normally Pre-1982 Copper Cents?<

I save pre 1983 pennies and have container for wheaties and others.

 

Pulling copper 82's and pre 82's is not a new debate, but seems to be a growing practice. One of these days they will become scarce. BTY I save them as well.

 

I've noticed that. Copper is beautiful when they make them into bars but I'm not going to pay that much extra when I can get copper cents in my change.