why you should keep copper cents

I keep all my copper cents and nickels in the bottom of my gun safe.

 

Log in or Sign up to hide this ad.

I was wondering about this myself several months ago (before the melting ban). Any object is only worth what someone is willing to pay for it, so I decided to call some local scrap yards. I did find one which would take pre 82 cents as Type II Copper at $2.25 per pound. At that rate, I would only make about $.75 per pound and decided it was not worth my time. I am still saving the copper cents from change, but am not actively searching them out.

 

This makes me wonder what they do with them...

 

Did they indicate how they protect themselves against getting the later cents?

I just can't picture them paying an employee to sit and look at the dates on all 730 coins in a 5-pound lot that they were going to buy for $11.25.

 

I save my Cents as (I'm 33 now) I want to be that old guy that dies and some smuck has to get a dolly and wheel a few 55 Gallon Drums outta my Basement...

Only to put them on ebay and tell you about this terrific ""Unsearched" Hoard he has came across....

I dunno why, but my personality, just likes to hoard things like Cash, Coins, Proof Sets, Sillver Bullion, other PMs, ammo, T.P ., etc....

I don't think you can ever really have enough, but thats just me...

 

That is a problem. Of course, it would be very simple to make machines that sort by weight - this would also separate out the newer cents with different compositions the mint is sure to be coming out with. Of course, we're not to this point yet.

It's really quite straightforward. If companies can make a buck from this, then you will be able to easily sell your copper pennies. If there isn't, then you won't.

Also a point of clarification. Can a salvage company be buying copper cents considering the ban? I guess they could argue that they're not melting them - they're just shipping them overseas. But part of the ban is also that individuals can only take out something like $5 in 1 and 5 cent pieces. Does this not apply to export companies?

Thanks

 

I'm not saying you shouldn't, but I'm curious as to exactly what would you do with them????

Just hoard'em to hoard'em like me???

I'm thinking about covering my Wifes Saturn in all the State Quarters, I've hoarded...

Or maybe Quarters on the Bottom half and cents on the top half, it'll be two tone...

 

all i have is a 1 gallon ice cream bucket i put them in from change. the bucket is in my closet. i'm just going to save these and see what happens. copper might fall and not be worth keeping, or it might rise all of a sudden and everyone will want them. either way, its only costing me a cent to keep these and i can spend them whenever i want.

 

I have about 20lbs worth of pre-82 cents. Why? Because I can.

 

Good enough reason for me...