A little over a year ago I started searching pennies just to hoard copper. I was working part time and home with my kids a lot, so I wanted to do something at least somewhat productive while I spent about an hour every day or so listening to Teaching Company lectures. Eventually, I started getting into coin collecting and now I can't get enough. I've recently graduated to nickels. Here are some of my finds: 1896 IH 1909 V.D.B. 1912 1917-D 5 - 1919 8 - 1920's 37 - 1930's 500+ - 1940's and 1950's Those in addition to more than $200 of copper pennies sorted by year and mint mark. I've also found a couple of Canadian pennies from the 40's, some groovy world coins (Bermuda, Barbados, Aruba, and a few others). Only one war nickel so far, but I've only gone through about $100 of nickels versus probably well more than $1000 of pennies. No 1938 nickels, but I've found 5 1939 and dozens from the 40's. And here is my question for all you good people. From looking at so many pennies, I've found it very easy to distinguish small and large date cents, especially 1982. Especially since I have all the dates already sorted, is it worth my time to try to find small dates (I don't keep 1982's)? Is there any real demand for circulated small dates? Thanks so much.
I find that about 30% of cents are still pre-1982 bronze. Earliest find so far is an 1889 IHC back in May, I also found a 1907 two weeks later.
For about 6 months I have been buying rolls at two banks and checking for copper cents, I just go for 1959 to 1981 because they changed mid year in 1982. So far I have about $90.00 in copper cents. I have found about 3 rolls of wheats and 2 IHC, but nothing to write home about.
I thought they changed in October 1982. I keep all the 1982 since I have never found one that wasn't 95%.
Why are you hoarding copper? Whats the gain? and what are the key dates? I'm new to all of this. Thanks.
"Why are you hoarding copper?" Current melt value for 95% copper pennies is around 2.25 cents outer penny. It's nothing I plan on retiring on, but it's basically a zero risk "mini-investment" that I, personally, find to be a ton of fun. Like I said, I'm home with my kids a lot and, especially since I quite smoking, it's something to busy my hands while I listen to audio lectures.
Cool thanks for the quick response. I hear a lot of talk about melt value but does anybody really melt them? or sell to people that actually extract the raw material?
Mining copper out of cents is a far better investment than practically any other area of numismatics right now. You really cannot lose on this gain, a cent will always be worth a cent - but those pre-1982's will never be worth less than a cent and most likely more. BTW the mint has specifically prohibited the melting of nickels and cents for their metal. You can be prosecuted with prison time and a stiff penalty. Nothing stops you from hoarding them, re-selling them etc. Lot like the silver coins back in the 1960's - they could not be melted for silver into the 1970's when the ban was lifted. By then all silver was out of circulation and bagged up and being hoarded. Nickels right now are worth at or about 5 cents each, but really not enough of a return to make hoarding them worthwhile.
Once you do that compare the zincs and the coppers so you can tell if it's copper just by looking at it.
Not that I would do it but wouldn't the cost of melting pennies yourself out weigh any profit you could make. I mean building a furnace and the fuel or propane would be pretty expensive. I don't know what copper melt temp is but I'm sure it would be pretty high. And don't you think a local recycling company that buys copper would look at what you produce look at it and go wtf is this and probably not buy it.
I found an 1887 liberty head in the same box I found three silver nickels, 7 uncirc. 1959 ds a 1963 uncirc and a 2004 proof, never found a buffalo though
You can make a home made penny sorting machine for next to nothing that will auto sort the pennies. Search youtube for penny sorting machine to see some examples of the home made machines. All the ones I seen work by weighing the penny. Heavier copper pennies go into one pile and the rest go into a second pile. Kind of cool how simple they are.
