Hoard your pre 1982 copper pennies and you are going to double your money is what they are saying. Do you think that this is the case?
Before 1982 almost all pennies minted by the U.S. mint contained around 95% copper and 5% tin and zinc. During mid-1982 the U.S. mint changed the metallic compisition of the pennies to about 99.2% zinc and 0.8% copper. All pennies minted since 1982 have less than 1% copper. The reason why the composition was changed is because during the early 1980s the price of copper kept rising and the total value of the copper metal in each penny was apporoaching the one cent face value of the penny. Accordingly, if the value of copper had kept rising, the U.S. Mint would have been losing money by producing more of the 95% copper pennies. As you are probably aware, the prices of commodities have been soaring over the past few years. The price per pound of copper was recently about $4. At $4 per pound, the value of the copper in most pre-1982 pennies is over 2 cents, more than the double face value of those pennies,
So then it would make sense then to hoard them because your money will double if you look at it like that.
I have a couple of them in stock. I would like to hear more regarding this one about what will be the price of these up to the second quarter of this year. PS: couple means bags
Really good information Webstandardcss. Good to know the real value of those days penny. Will not miss the chance of collecting it whenever I come across it.
Aren't you guys considering the effect of Inflation? you are just doubling your nominal amount , not your purchasing power mate.
With the economy the way it is, I'm surprised there aren't more people thinking about ways to sort the good pennies from the zinc. I've heard there are growing numbers of break-ins where people are thieving copper pipes from construction sites and foreclosed houses. These thieves must be selling at scrap metal yards. Anyone ever try bringing a hoard of pennies to a scrap yard?
