Anyone Hoarding Copper?

At the start of each new year I put all 1981 cents and earlier this also means all wheats cents that are of a low grade of in bad shape in a big jar. And at Christmas time I cash them in and buy a coin for myself, last yeat year I had $28.35 in cents works for me.

 

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you spend wheat cents?! i keep every wheatie i find, no matter what the year, condition, ect.

 

"any easy way to sort them out. I would hoard in a heart beat if it were easier."

Take a tongue depressor, or similar wood piece, and glue a piece of a pencil crosswise in the middle, so it will act as a balance scale. Put the pivot side down, and place a pre-1982 cent on one end, and attach it in place with glue or double-faced tape. Place the cents you want to test on the other end (one at a time!). If it balances, it is copper. If the glued-on cent drops down, the test cent is copper-plated zinc.

 

I will remember that come Christmas time.

 

How that we are talking about hoarding ,I have alot of Canadian cents does anyone know when they stoped using copper in there cents I can put them in the jar also?

 

Not hoarding they are so hard to get rid of at the store because you usually get more back than you can rid of.

John

 

I started at the end of this thread:computer: I just read Walterallen post so now I know thanks Walter.

 

Nope not a joke at all---but what the Gov. has to prove is your Intent---you can hoard all of the copper you want as long as you don't plan on melting it down at least that is my understanding...

Speedy

 

The melting ban probably won't apply any more once they stop using pennies.

Didn't they do the same thing with silver coins back in the day?

 

Recyclers

About two miles from where we live we have a large recycler who will buy or sell scrap. My son Inlaw had a heavy load of copper wire that came from a site he had done on computer intall in. They asked him if he wanted the wire as he drives a truck to work and could get it out of the way. That was about five years ago.
He did not remove the casing and took it down in a rolled bundle. He had enough to get to Ipods for my daughter and himself.

 

All Pre 1997 cents are 98% copper or slightly less

 

I keep copper wire/piping but i compact it into about 25 pound squares. I have 225+ pounds of copper, and I'm just savign it, hoping it might actually be worth it. As far as copper pennies, I'll separate them an put them to the side.

 

Actually pre-1982, plus a percentage of the 1982 mintage.
And, they are 95% copper, 5% zinc.

 

He was answering a question about Canadian cents, not US.

Canadian cent metal content =

Before 1997: 98% copper, 1.75% zinc, 0.25% other metals.

1997-2000: a zinc core, plated with copper.

2001-present: core of 94% steel and 1.5% nickel, plated with 4.5% copper.

 

Interestingly, the mass of the cent changed several times before 1997- according to wikipedia,

Years Weight Diameter/Shape Composition
2000-present 2.35 g 19.05 mm, round 94% steel, 1.5% nickel, 4.5% copper plated zinc
1997-1999 2.25 g 19.05 mm, round 98.4% zinc, 1.6% copper plating
1982-1996 2.5 g 19.1 mm, 12-sided 98% copper, 1.75% tin, 0.25% zinc
1980-1981 2.8 g 19.0 mm, round 98% copper, 1.75% tin, 0.25% zinc
1978-1979 3.24 g 19.05 mm, round 98% copper, 1.75% tin, 0.25% zinc
1942-1977 3.24 g 19.05 mm, round 98% copper, 0.5% tin, 1.5% zinc

 

Intrinsic value of money

I concur with all the folks who are saving copper cents without intent to melt. It seems silly to melt the stuff when it has already been processed into coinage, one of the most useful forms of metal. It has seldom occurred in modern times that the intrintic value of a currency exceeded the symbolic value. Certainly paper money has little instrinsic value beyond butt-wipes and fire-starters.

When (not if) the dollar crashes... those copper pennies will STILL be valuable currency... right alongside all those pre-'65 silver dimes and quarters and any gold still around... while anybody who foolishly hoarded cash in stacks of hundred dollar bills will be left with nothing but garden mulch. Thise pennies will be useful for the purchases of small items... like fruit and vegetables from local producers... for which silver or gold would be too much.

People seem to think that copper is a pain to store because it's bulky for its value compared to silver. A cubic foot of copper weighs 559 pounds and has a current value of about $1500. A cubic foot takes up a very small amount of space in the corner of your garage or basement. You could easily have $10,000 worth of copper cents in a couple of wooden ammo boxes with a board on top to serve as a bench or shelf. It won't matter if they get flooded... or even if the place burns to the ground... that money will ALWAYS be worth something.

 

Everyone aware there is now a web site called hoardingcopper.com? It is all about copper cents(pennies).
The value around here at coin shows is about $0.03 to .05 each. You would need a wheel barrel full before a metal recyler around here would even give you a quote. I sent seferal thousand 1909 to 1959 cents to a YN on another web site just to get rid of them rather than wasting my time trying to sell the stuff. I'm old so just trying to thin out the collection.