profit in copper pennies?

I hope I'm in the appropriate section. I'm knew to coin collecting. I recently read an item in the "Letters" section of Numismatic News that aroused my interest. The letter mentioned that copper Lincoln cents (before '83 I think) are worth more in copper content than face vallue. It would seem to follow that it would be worth while to cull for the copper pennies. Is that true? If true, would it be worth the time and who would buy them?
Thanks to any and all who reply.

 

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It has been running about $80 plus $10 shipping on Ebay for $50 FACE value in pre 82 Lincolns. 1982 Lincons are made in both Zinc and copper, the majority I find are 1982 large date copper.

$1.47 face equals 1 pound copper, someone here will probably post the link to the melt value website, it is not handy now, Im on a laptop.

I am running about 15% avg copper to zinc when I sort by hand, usually $100 or so a week from the bank. I just keep the coppers in an empty 5 gal water jug for the heck of it to sort for Re punched mintmarks at a later date.

Welcome to the forum, lots of info to be had here, lots of good folks

 

If you've got the time to sort and a bit of space in your closet, it's probably not a bad idea to keep the pre-1982 pennies.

Will you get rich? No. Because once you start boxing them away, you'll find that they weigh A LOT.

But it is interesting!!!

 

heres the melt value of copper cents. welcome to the forum! :kewl:

 

Thanks coinlover, I knew somebody would post that

 

damselfly
Welcome to the forum, and good luck.

 

welcome to the boards damselfly!

 

I also think there is a machine (Ryedale???) that will do the sorting for you automatically. It's not cheap and you run the remote risk of damaging any coins with numismatic value (probably about the same risk as from the coin rolling equipment)

 

Don't do it...let us do it.

 

Welcome

Welcome to coin talk. And * knew* is actually spelled "canoe" lol

 

Would Ebay buyers buy Canadian cents for Bullion as well?

 

They'll buy anything.

 

how can anybody ship 50 dollars in copper pennies for 10 bucks - maybe if its in the same town but what the odds with that

does anybody know ???

Snowman

 

USPS Flat Rate box for $8.95 including Delivery Confirmation.

(I wondered the same thing a while back..)

 

good point on the the flat rate box - but are those boxes big and strong enough to hold that much pennies and at least 35 pounds of metal ???

if this holds true maybe they should put special handling on the package and hope its moved around on a cart full of pillows. most likely it will get a liitle MORE special handling if you know that means

 

Yes, they are. I recently sorted $50 in rolled cents for the cent project that I had sent to me from out of state. They just put two brinks boxes in with some newspaper and taped it up, worked fine.

Several postal employees had added "CAUTION-HEAVY" in magic marker on it, I thought that was funny.

 

why would one want ebay/paypal/shipping fees to cut into the already small profit margin of bullion ag/cu.

one would be better off taking them to a local scrap yard/bullion dealer or melt them yourself and then put them up for auction.

either way most potential bidders/buyers on ebay will eventually do the same and these 'wonderful little discs of history' will eventually meet their fiery demise by way of the smelter...or end up in the jar on top of the refrigerator.

..might as well cut out the middle men to maximize your profits.

 

The one with White markings doesn't contain Coppers.

 

heres the machine that sorts copper, and no it dosn't damage the coin.

 

That is the machine, Rydale, that I was thinking about. BUT, as I sort, I look for wide AM's, rpms, 83,84 & 95 DD's, and you cannot do that unl;ess you resort my hand again.

Stricktly for seperation, you cannot beat it. You will lose all numismatic oportunitys for the sake of speed and convience.

I still haven't made up my mind yet.

ALSO, as posted above, it is illegal to melt still, and does not looks to change, that bill in congress has been beatin down pretty hard I think.