Pre-1982 Pennies

Right now I have three blue, plastic 55 gal drums and the third is about three inches from the top. They mostly serve as conversation pieces in my shop. They are out front, exposed where the customer peruse the display cases.

 

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I believe it's closer to 145 copper cents to the pound and that is only if they are unc.

 

You copper guys will quickly find out that shipping eats up ALL the profits... Plus the price of copper recently hit a 6-year low.

"...Three-month copper futures fell to $5,202.50 a metric ton on the London Metal Exchange, their lowest level in six years, as a preliminary gauge of China’s manufacturing activity dropped to a 15-month low in July.

Prices of three-month aluminum on the LME, another heavily-traded base metal, also dropped to a six-year low at $1,634 per ton..."

 

I have around 25,000 that I've never searched. Rolls and boxes of freshly minted coins from the bank bought at face so no big deal. Coppers from searching rolls for wheats and Indians. Then mostly wheats pulled from circulation. If they no longer make them the price goes up. I also sell copper rolls at my antique store and they do sell. I don't know why but they do and I get more than a penny for them.

 

Seems like a hard way to make money.

 

Nah, it's fun. Think about it, I sell a roll of coppers from 1959 to 1982 for $1.50 that cost me $.50 and I triple my money. Not big bucks but one nice percentage and it's safer than the stock or bond markets. Then again, I do stack silver and pack gold. I also have hoards of copper and lead, all precious metals.

 

Better keep that lead away from your body...

 

The lead is not meant for me.

 

It's easy, just really, really slow.

 

The copper jackets the lead...

 

I have about 50,000 BU coppers and another 25,000 or so that have been cleaned/polished in a big brass tumbler.

All of them will be made into elongated coins, probably no later than the end of this year.

I buy about 25,000 or so BU Coppers every 3 months or so to elongate them, and they're not getting any easier to find in BU condition (either bank rolls or preferably mint-sewn bags).

And, do I check the Cents that I get in the mint-sewn for errors or such? Nope! Don't have the time nor patience...

 

Do the copper-plated zinc not make good elongated coins (for whatever reason)? Do they turn out mottled and prone to environmental damage?

 

Yes Doug, when the "zincers" are pressed, the zinc penetrates the copper, showing white in the beginning, and they quickly turn into an ugly oxidized black.

Some collectors roll on "zincers", but then spray-paint them with clear lacquer or cover them with clear nail polish.

Most "serious" collectors prefer "coppers" and will try to avoid "zincers" at any cost, including not wanting to trade them, etc.