Went to the bank and got about 8 roll of pennies. My finds were 4 wheats and 92 copper cents. Not a bad day. Now It seems almost every 2 rolls I get I find atleast one wheat. So I thought that was neat. What is the average for most of you guys for finding wheats in rolls? Now if my bank would get in rolls of half dollars... Phoenix
Here in Eastern Iowa, I get five rolls at a time from various banks. I usually get 1-2 wheaties and about the same number of canadian. I never really get more than that and sometimes come up with nothing. So far, copper cents are holding out - I'm getting well over 30% pre-1982.
I just bought ten rolls today, and I got a 1919 penny and another younger wheatie. I replaced coins with newer, less valuable ones, and then wrapped them back up. I'm planning on going tomorrow to exchange the then for another ten, then searching those. After those I'll exchange them for 2 rolls of nickels and 2 rolls of pennies. Then after I'll go for a roll of dimes. I also found two Canadian pennies. People are so honest XD Why do people like collecting copper pennies? How are they valuable? (Excuse my ignorance.)
a roll of copper cents is now worth 90 cents. thats why we keep them. think, if we got a box just full of copper cents, that would be a profit of $20. i like to think of these copper cents as the new silver. keep them, they might not be around for long!
Over the past year I've averaged a wheatie for every 5 rolls. This weekend I did better, searched two boxes (100 rolls) and came up with about one wheatie every 2 rolls. Two were steel cents, first time I've seen those in rolls.
i mean not litelly melting them. do you know how dealers sell coins for melt? for example, you walk in and sell a 1964 silver dime that is in circulated codition. the dealer will give you the junk or melt value. which is $1. you can find junk/melt values at www.coinflation.com. so in a few years, you can walk in with a roll of copper cents and sell them to the dealer for more than face value. that's why we keep them.
According to this: http://www.coinflation.com/coins/ba...850.00&nickelprice=20.2151&Submit=+Calculate+ A dollar in pennies is worth 1.84 in junk value. Can't I just exchange the 100 pennies for 1.84, then get 184 pennies and sell them for 3.38, and so on? Or do I have to exchange the melt for other coins and not cash?
People can say they are worth whatever - that doesn't mean you can sell them for that much. Currently it is illegal to melt cents and nickels - so nobody is going to buy them, except for face value.
That's what is attracting people If you do some web searches on penny hoarding, you'll get a similar message. Basically, by keeping copper cents, you lose/risk absolutely nothing and there is strong probablility that you will gain a whole lot. Of course, you get into questions of storage, weight, etc. Obviously not as interesting as saving silver dimes There are even people who point out that zinc has actually gone up more in the last five years than copper has - thus raising speculation that the current lincoln cents (after 1982 are 97.5% zinc) may also be investments in the very near future. I believe that coininflation.com puts recent lincolns metal value at about 87% face value. This should not be happening. Modern coins are tokens and are not actually worth their face value. So it's likely that the current Lincolns will become steel very soon. As far as selling, just do a search in the e-bay coin section for 1982 and you should find several auctions for lots of pre-1982 lincolns. However, copper will have to go WAY up before you'll be able to walk into a coin dealer and get any kind of premium for them.
The law said it's illegal to melt the coins only if you are knowingly breaking the law. So just forget.
